1993
1992
Provisions
These comprise:
Provision for deferred tax liabilities
Provision for pension liabilities
Provision for other personnel schemes
Other provisions
584,303 566,100
168,383 188,707
438,972 361,766
89,472 33,196
1,281,130 1,149,769
The provision for pension liabilities relates to
pensions and annuities which have not been funded
by third parties. The average rate of interest used in
calculating the present value of the provision for
pension liabilities was 6% (1992: 7%), taking into
consideration the interest rates existing in the
countries concerned. The fall in the discount rate is
due to the lower rates of interest in Europe.
The increase in the provision for other personnel
schemes relates to the net additions to and payments
from this provision in virtue of various early
retirement and reorganization schemes. The
addition took place mainly in Europe. The other
provisions mainly comprise provisions for
consolidated participations and sureties given.
The increase over 1992 is largely due to an
appropriation concerning participations in Africa.
About NLG 1.2 billion of the provisions has to be
considered as becoming due and payable after more
than one year.
More More
Long-term debts Total than 5 years Total than 5 years
The debts becoming due and payable after more
than one year relate to:
Euroguilder Notes loan, interest 7,625%,
redeemable on July 1, 1994 - - 150,000 -
Loan in guilders, interest 10.25% - - 5,334 -
By private contract loan, interest 6.77%,
redeemable on June 2,2000 150,000 150,000 - -
U.S. Dollar loan, interest 6 months
LIBOR plus 0.35%, annual repayment of
U.S.S 8.0 million 31,024 - 43,603 -
Other debentures and private loans, average
interest 10.6% (1992: 9.1%) 232,574 21,471 328,238 32,748
Other debts, interest free 48,459 20,857 49,289 20,544
462,057 192,328 576,464 53,292
In relation to the other debentures and private
contract loans securities in the form of mortgages
have been given up to an amount of
NLG 89 million (1992: NLG 117 million).
