|
x € 1 million |
2024 |
2023 |
|
Loans granted to joint ventures |
32.2 |
9.1 |
|
Other long-term lending |
3.9 |
1.9 |
|
Deposits |
28.6 |
25.6 |
|
Balance at 31 December |
64.7 |
36.6 |
The deposits are related to prepayments already made for development positions where ownership has not yet been transferred.
None of the loans granted to joint ventures falls due within one year (2023: nil), € 1 million falls due between one and five years (2023: € 1 million) and € 31 million falls due after more than five years, including those with indefinite maturity (2023: € 7 million). The weighted average interest rate is approximately 4.7% (2023: 4.8%). The loans are repayable and are secured by pledged assets and by cash flows from projects being executed by the joint ventures in question. The Group made an appraisal of the expected credit losses on the loans granted and this led to no material implications for the carrying amount of the loans.