Boskalis_Annual_Report_2016

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19. INVENTORIES

2015

2016

Fuel and materials

30,860 51,750 82,610

35,943 54,106 90,049

Spare parts and other inventories

During 2016 a write-down of EUR 1.6 million on inventories was recognized (2015: EUR 3.8 million).

20. DUE FROM AND DUE TO CUSTOMERS

2015

2016

Cumulative incurred costs plus profit in proportion to progress less provisions for losses

3,383,717

2,420,973

Progress billings Advances received

3,479,598

2,619,868

42,794

29,543

2,649,411

Progress billings and advances received

3,522,392

Balance

- 138,675

- 228,438

Due from customers Due to customers

182,302 - 320,977 - 138,675

87,194

- 315,632 - 228,438

Balance

As at year-end 2016, the payments due from customers include EUR 7 million (2015: EUR 4 million) which will be paid by customers subject to specified conditions (retentions). The determination of profit in proportion to the stage of completion and the provision for losses is based on estimated costs and revenue of the relating projects. These estimates contain uncertainties.

21. TRADE AND OTHER RECEIVABLES

2015

2016

274,429 22,647 300,852 597,928

Trade receivables

379,910 17,237 330,420 727,567

Amounts due from joint ventures and associated companies

Other receivables and prepayments ANNUAL REPORT 2016 – BOSKALIS FINANCIAL STATEMENTS 2016 Bank balances and cash Short-term bank deposits Cash and cash equivalents Bank overdrafts

22. CASH AND CASH EQUIVALENTS

2015

2016

839,395 125,936 965,331

695,531 98,189 793,720

- 30,603

- 1,188

5,606

Bank balances and cash of disposal group

3,579

Net cash and cash equivalents in the consolidated statement of cash flows

766,696

969,749

Cash and cash equivalents include EUR 73.2 million (2015: EUR 137.2 million) held by project-driven construction consortiums (joint operations). The Group held EUR 2.1 million (2015: EUR 21.6 million), of which an amount of EUR 0.1 million (2015: EUR 8.9 million) in joint operations outside the Netherlands that are subject to local regulations, thus limiting the transfer of these funds. The other cash and cash equivalents were at the free disposal of the Group.