AEG 21604 G Bedienungsanleitung PDF herunterladen (Seite 287)

F-46

The government loans are interest free and are repayable by annual instalments of €0.062 million.

There are two unsecured bank loans with a face value of €0.2 million (0% interest) and €0.3 million (interest at

euribor+2.5%). The carrying amounts at September 30, 2010 were €0.184 million and €0.3 million respectively.

The loans are repayable by monthly instalments over a period of 3 and 5 years respectively.

In July 2010 the Group obtained two short term bank bridge loans totalling €10 million for the purpose of fund-

ing the construction of the Group’s solar power generation farms in Italy. The loans are intended to provide

bridge finance pending full project financing which is expected upon completion of construction and connection

to the grid. One loan carries interest at 3 month Euribor + 2% and expires on March 31, 2011. The other bears

interest at 3.5% and expires on April 30, 2011. Both loans are repayable on demand and are guaranteed by AEG

Power Solutions BV.

17. Contractual obligations and off-balance sheet commitments

a) Contractual cash obligations

The following table presents minimum payments that the Group will have to make in the future under contracts

and firm commitments. Amounts related to capital lease obligations are fully reflected in the condensed consoli-

dated statement of financial position.

September 30, 2010

In millions of euro

Less than 1

year 1 - 3 years 4 – 6 years Total

Operating leases ................................

...............................

2.152 4.069 1.987 8.208

Unconditional purchase obligations

................................

28.475 0.721 0.107 29.303

Total ................................................................

................

30.627 4.790 2.094 37.511

The unconditional purchase obligations are related to the requirements to place firm commitments for compo-

nents for the manufacturing of Group products. A significant portion of the purchase obligations relate to spe-

cific customer orders.

Rental expenses under operating leases amounted to €4.034 million in the period to September 30, 2010 (2009:

€0.295 million).

b) Other commitments

September 30, 2010

In millions of euro

Less than 1

year 1 - 3 years 4 – 6 years Total

Guarantees................................

................................

3.194 2.806 0.177 6.177

Guarantees relate to bonds and guarantees issued on customer contracts and are shown net of bonds and guaran-

tees secured by cash collateral.

c) Trademark License Agreement

With effect from 1 July 2008, AEG PS entered into a trademark license agreement (the “AEG License”) with AB

Electrolux which granted the Company the right to use the AEG PS trademark for an initial term of ten years. An

annual royalty is payable based on a percentage of the net selling price of the respective trademark product,

subject to a minimum royalty of €2.783 million for 2010. AEG PS and Electrolux amended the AEG License on

July 27, 2010 to expand the range of products covered by the license and to set sale and minimum royalty targets

through 2014. The term of the license has also been extended until 2028.

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