Operating Leases

Within the context of rental, tenancy and leasing agreements that are to be classified as “Operating leases” in accordance with IAS 17, the Group leases property, plant and equipment. The resulting lease or rental payments are recognised directly as expense in the income statement.

Within the context of non-terminable operating leases in the basic term, Bechtle leased buildings, vehicles, IT commodities and various services. Payments in the amount of 20,044 thousand euros (prior year: 18,998 thousand euros) have been recognised in the expenses within the context of rental and leasing contracts.

The future minimum lease payments from the above-named contracts amount to 85,859 thousand euros as of 31 December 2008 (prior year: 75,641 thousand euros).

Included in this are 40,151 thousand euros from the lease contract on the central logistics and administration building in Neckarsulm from the year 2002 and the extension from the year 2008/2009. The owner of the building is Fabiana Grundstücksverwaltungsgesellschaft mbH, Munich (Fabiana). Bechtle AG has no direct or indirect stake in Fabiana. After the expiration of the lease contract in the year 2022, Bechtle AG has a buyer’s option to the building.

Within the scope of a sale-and-lease-back transaction, the extension will be completed by Bechtle AG as general contractor by 30 June 2009, the binding date of completion, transferred to Fabiana, and subsequently leased back from Fabiana. For the building work, a compensation amounting to the substantiated costs has been agreed with a cap of 6,600 thousand euros. The compensation will be paid on a one-off basis following the flawless final acceptance of the subject matter by Fabiana. As of the balance-sheet date, Fabiana owed Bechtle AG an amount of 3,158 thousand euros from this deal, which is presented under other current assets.

In return, Bechtle appears as the lessor within the context of operating leases. Primarily, this relates to the leasing of IT commodities. As a rule, the term of lease agreements amounts to between 3 and 5 years. The corresponding minimum lease payments from these agreements come to 2,867 thousand euros for the year 2009, 3,724 thousand euros for 2010 to 2013 and thus in total 6,591 thousand euros.