(14) Trucks for short-term hire

Trucks for short-term hire developed as follows in the year under review and in the previous year:

The fleet includes leased trucks for short-term hire with an aggregate value of €3,793 thousand (prior year: €14,604 thousand) which classify the Group as commercial owner due to the nature of the underlying leases (‘finance leases’). Corresponding depreciation on these trucks in the fiscal year amounts to €1,827 thousand (prior year: €4,883 thousand).

Depreciation of trucks for short-term hire in fiscal 2008 include impairment losses of €8,847 thousand (prior year: € – thousand) resulting from the impairment test performed on them. The depreciation has been recognized in the cost of sales.

Trucks for short-term hire with a total carrying amount of €50,446 thousand (prior year: €18,913 thousand) were put up as collateral for their associated financial liabilities within the scope of sales of receivables from intragroup hire-purchase agreements.