Group order exposure from awarded capital expenditure projects is EUR 296,712,000 (2006: EUR 95,503,000) and mostly relates to mining activities at the Leighton Group.
Cash call commitments on financial assets stand at EUR 203,197,000 (2006: EUR 210,033,000), mostly for PPP project companies in the HOCHTIEF Construction Services Asia Pacific division. They are to be fulfilled within the next five years.
The term breakdown of minimum lease payments under operating leases is as follows:
Operate Leasing
| (EUR thousand) | Dec. 31, 2007 | Dec. 31, 2006 |
|---|---|---|
| Nominal value | Nominal value | |
| Due within 1 year | 221,448 | 167,736 |
| Due in 1-5 years | 563,411 | 550,144 |
| Due after 5 years | 67,246 | 23,162 |
The obligations from operating leases mainly relate to technical equipment and machinery leased by the Leighton Group. The increase is due to the expansion of activities in the mining sector.
Lease payments under operating leases were EUR 226,130,000 (2006: 168,156,000).
Amounts due under long-term tenancies are EUR 335,875,000 (2006: EUR 264,027,000). The term for which such tenancies cannot be terminated is between two and 14 years. The amounts due under tenancies are partly offset by anticipated rental income of EUR 122,303,000 (2006: EUR 241,645,000).
Other financial obligations include EUR 24,655,000 (2006: EUR 22,818,000) in commitments under long-term contracts for the supply of goods and services.
Legal disputes
HOCHTIEF Group companies are involved in various legal disputes in the context of their operating activities. HOCHTIEF does not anticipate any material negative impact from such disputes on the Group’s business and financial situation.35. Segment reporting
Segmental reporting in the HOCHTIEF Group is based on the Group’s divisional operations. The breakdown by divisions and regions mirrors the Group’s internal reporting systems.
The divisions/segments are as follows:
HOCHTIEF Airport
HOCHTIEF Development
HOCHTIEF Construction Services Americas
HOCHTIEF Construction Services Asia Pacific
HOCHTIEF Construction Services Europe
Corporate Headquarters/Consolidation
The Corporate Headquarters/Consolidation unit comprises Corporate Headquarters, other activities not assigned to separately listed divisions, including management of financial resources and insurance activities, plus consolidation effects. Insurance activities are managed from Corporate Headquarters under the responsibility of HOCHTIEF Insurance Broking and Risk Management Solutions GmbH, which has two subsidiaries in Luxembourg. The HOCHTIEF insurance companies provide various reinsurance offerings for contractors’ casualty and surety, contractor default, liability and occupational accident insurance.
The Management Report provides detailed information on the various operating segments.
