Integrated
Annual Report 2011

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Grupa LOTOS S.A. - Integrated Annual Report 2011
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19. Investment property

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PLN '000 Dec 31 2011 Dec 31 2010
Gross value at beginning of the period 7,789 5,768
Increase: - 2,134
- transfer from property, plant and equipment - 2,134
Decrease: (7,789) (113)
- transfer to property, plant and equipment (4,183) (113)
- reclassification into non-current assets held for sale (3,606) -
Gross value at end of the period - 7,789
Impairment losses at beginning of the period 4,413 2,006
Increase: 424 2,464
- transfer from property, plant and equipment - 1,399
- revaluation 424 1,065
Decrease: (4,837) (57)
- transfer to property, plant and equipment (2,332) (57)
- reclassification into non-current assets held for sale (2,505) -
Impairment losses at end of the period - 4,413
Net value at beginning of the period 3,376 3,762
Net value at end of the period - 3,376

As at December 31st 2010, the Group classified as investment property (which comprises investments in land, perpetual usufruct rights to land, and buildings and structures) also such property which is not used by the Group for its own needs but which generates benefits in the form of value appreciation or rent income.

This is a translation of a document originally issued in Polish.