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19. INVENTORIES
2016
2015
Fuel and materials
35,943
30,860
Spare parts and other inventories
54,106
51,750
90,049
82,610
During 2016 a write-down of EUR 1.6 million on inventories was recognized (2015: EUR 3.8 million).
20. DUE FROM AND DUE TO CUSTOMERS
2016
2015
Cumulative incurred costs plus profit in proportion to progress less provisions for losses
2,420,973
3,383,717
Progress billings
2,619,868
3,479,598
Advances received
29,543
42,794
Progress billings and advances received
2,649,411
3,522,392
Balance
- 228,438
- 138,675
Due from customers
87,194
182,302
Due to customers
- 315,632
- 320,977
Balance
- 228,438
- 138,675
As at year-end 2016, the payments due from customers include EUR 7 million (2015: EUR 4 million) which
will be paid by customers subject to specified conditions (retentions). The determination of profit in
proportion to the stage of completion and the provision for losses is based on estimated costs and revenue
of the relating projects. These estimates contain uncertainties.
21. TRADE AND OTHER RECEIVABLES
2016
2015
Trade receivables
274,429
379,910
Amounts due from joint ventures and associated companies
22,647
17,237
Other receivables and prepayments
300,852
330,420
597,928
727,567
22. CASH AND CASH EQUIVALENTS
2016
2015
Bank balances and cash
839,395
695,531
Short-term bank deposits
125,936
98,189
Cash and cash equivalents
965,331
793,720
Bank overdrafts
- 1,188
- 30,603
Bank balances and cash of disposal group
5,606
3,579
Net cash and cash equivalents in the consolidated statement of cash flows
969,749
766,696
Cash and cash equivalents include EUR 73.2 million (2015: EUR 137.2 million) held by project-driven
construction consortiums (joint operations). The Group held EUR 2.1 million (2015: EUR 21.6 million), of
which an amount of EUR 0.1 million (2015: EUR 8.9 million) in joint operations outside the Netherlands
that are subject to local regulations, thus limiting the transfer of these funds. The other cash and cash
equivalents were at the free disposal of the Group.
100
ANNUAL REPORT 2016 – BOSKALIS
FINANCIAL STATEMENTS 2016