Wacker Chemie AG owns real estate at its production site in Cologne, Germany. This is comprised of premises and infrastructural facilities (such as for energy and waste water). The premises are rented out or leased on the basis of long-term agreements. There is no finance lease. This real estate is subject to the same principles regarding depreciation method and useful life as assets that we use for our own purposes. These premises and the infrastructure in Cologne are operated, maintained and looked after by third parties who charge any costs incurred directly to the tenants or leaseholders.
In the reporting year, those sections of the Burghausen soccer stadium which Wacker Chemie AG had held as an investment were sold to Wirtschaftsbeteiligungsgesellschaft Burghausen mbH.
The rent and lease income is included in the following schedule.
| download table |
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€ million |
2010 |
2009 | ||
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Fair value |
13.8 |
14.1 | ||
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Income from rent/operating leases |
0.8 |
1.1 | ||
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Costs |
-0.2 |
-0.1 |
The fair value is based on an external expert opinion and is updated regularly. It was last updated in 2010.