Acquisition or production costs

(in TEUR)	Balance as at 1 January 2004		Currency translation differences		Add-itions		Dis-posals		Changes due to business acquisitions		Trans-fers		Balance as at 31 December 2004
Intangible assets	24,889		(473)		3,727		493		1,369		5		29,025
Goodwill	233,466		(7,225)		3,204		0		0		0		229,446
Land and buildings	131,493		(1,411)		3,236		10,088		127		1,455		124,811
Technical equipment and machinery	136,098		(2,721)		11,172		11,353		1,267		214		134,676
Other equipment, factory and office
equipment	63,783		(1,192)		9,605		7,194		671		511		66,184
Assets in course of construction	1,951		(26)		1,560		366		0		(2,180)		939
Advance payments on
tangible assets	50		0		69		42		0		0		77
Total property, plant and equipment	333,375		(5,350)		25,641		29,044		2,065		0		326,687
Total intangible and tangible assets	591,730		(13,048)		32,572		29,537		3,435		5		585,158

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Depreciation and amortisation

(in TEUR)	Balance as at 1 January 2004		Currency translation differences		Depreciation and amorti- sation for the year		Dis-posals		Changes due to business acquisitions		Trans-fers		Balance as at 31 December 2004
Intangible assets	19,968		(454)		2,875		425		0		0		21,964
Goodwill	110,681		(5,481)		16,684		0		0		0		121,884
Land and buildings	56,280		(787)		3,072		4,425		0		39		54,180
Technical equipment
and machinery	103,177		(1,960)		8,093		10,149		3		(414)		98,750
Other equipment, factory
and office equipment	46,753		(984)		8,471		6,330		76		382		48,367
Assets in course of construction	0		0		29		29		0		0		0
Advance payments on tangible
assets	0		0		0		0		0		0		0
Total property, plant
and equipment	206,210		(3,731)		19,665		20,933		79		7		201,297
Total intangible
and tangible assets	336,859		(9,665)		39,224		21,358		79		7		345,145

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Net book value

(in TEUR)	Costs as at 31 December 2004		Accumulated depreciation		Net book value as at 31 Decem- ber 2004		Net book value as at 31 Decem- ber 2003
Intangible assets	29,025		21,964		7,061		4,921
Goodwill	229,446		121,884		107,561		122,785
Land and buildings	124,811		54,180		70,631		75,213
Technical equipment and machinery	134,676		98,750		35,926		32,921
Other equipment, factory and office equipment	66,184		48,367		17,818		17,030
Assets in course of construction	939		0		939		1,951
Advance payments on tangible assets	77		0		77		50
Total property, plant and equipment	326,687		201,297		125,390		127,165
Total ingangible and tangible assets	585,158		345,145		240,012		254,871

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Finance leases

The net book value for technical equipment and machinery includes an amount of EUR 1,074 thousand (2003 EUR 1,426 thousand) and the net book value for other equipment, factory and office equipment includes an amount of EUR 211 thousand (2003 EUR 256 thousand) in respect of assets held under finance lease. The total of minimum lease payments at balance sheet date amounts to EUR 1,088 thousand (2003 EUR 1,555 thousand). The leasing contracts have remaining terms from 7 up to 49 months.

Impairment loss

In 2004 the goodwills arising from the acquisition of Acutest and the furnace business from Selas met the tests for impairment because the businesses did not develop according to plan. The impairment loss for these goodwills amounted to EUR 2,955 thousand, of which EUR 1,294 thousand are related to the pulp and paper business area and the remaining value is related to the business area rolling mills and strip processing lines. For participation in associated companies an impairment loss of EUR 1,041 thousand has been reported, which is related to the pulp and paper business area.

Goodwill

(in TEUR)	2004	2003
Andritz Ahlstrom	32,367	37,630
Acquisition of Andritz AG	59,596	65,555
Other	15,598	19,600
	107,561	122,785

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