3.8 Property, plant and equipment

Property, plant and equipment are recognized at acquisition price or at cost, less depreciation charges and impairment loss.

All property, plant and equipment as well as their important components are depreciated, excluding land and property, plant and equipment under construction. Depreciation follows the straight line method over the estimated useful life of the assets and starts on the first day of the month following the month of commissioning.

Annual depreciation rates for material assets are presented in the following table:

Asset classRate
Ownership right of cooperative residential or commercial space 2.5%
Buildings and structures 1.5% - 10%
Machines and technical devices 10% - 40%
Vehicles 14% - 33%
IT hardware 20% - 40%
Other non-current assets 7% - 20%

Assets held under finance leases are depreciated over the period of their useful life, unless there is no likelihood of purchasing the assets, in which case they are depreciated over a period not longer than the period of the lease.