true value for employees
true value for employees
As Randstad believes that the true value of a company is derived from its people, we naturally take great care in the engagement and development of our own workforce.

17. Property, plant and equipment

(amounts in millions of €, unless otherwise indicated)

Property, plant and equipment by geographical area:

   2008  2007
       
Netherlands 67.8   65.4
France 25.4   7.7
Germany 12.1   13.7
Belgium/Luxembourg 24.4   18.3
Iberia 6.0   6.1
United Kingdom 13.5   4.0
Other European countries 11.0   6.6
North America 17.9   12.4
Rest of the world 12.4   1.5
       
  190.5   135.7


Changes in property, plant and equipment are:

  Buildings and land  Computer hardware  Leasehold improvements, furniture and fixtures  Total
         
Cost 43.8 96.6 243.3 383.7
Accumulated depreciation 20.4 70.7 175.5 266.6
         
             
Book value at January 1, 2007 23.4 25.9 67.8 117.1
       
Book value at January 1, 2007 23.4 25.9 67.8 117.1
Acquisition of subsidiaries - 0.3 0.3 0.6
Additions - 19.5 41.0 60.5
Disposals - -0.2 -1.9 -2.1
Depreciation -0.7 -13.0 -25.3 -39.0
Translation differences - -0.4 -1.0 -1.4
       
Book value at December 31, 2007 22.7 32.1 80.9 135.7
         
Cost 43.8 117.0 273.9 434.7
Accumulated depreciation 21.1 84.9 193.0 299.0
       
             
Book value at December 31, 2007 22.7 32.1 80.9 135.7
         
Book value at January 1, 2008 22.7 32.1 80.9 135.7
Acquisition of subsidiaries 4.4 20.8 54.9 80.1
Disposal of subsidiaries - - -1.9 -1.9
Additions 1.1 15.4 41.8 58.3
Disposals -0.1 -2.1 -13.8 -16.0
Depreciation -1.3 -20.8 -41.5 -63.6
Translation differences -0.6 -0.4 -1.1 -2.1
       
             
Book value at December 31, 2008 26.2 45.0 119.3 190.5
       
Cost 55.5 194.8 386.7 637.0
Accumulated depreciation 29.3 149.8 267.4 446.5
       
             
Book value at December 31, 2008 26.2 45.0 119.3 190.5

Based on appraisals made by independent and expert appraisers, the estimated fair value of buildings and land is € 20 to € 25 million higher than book value.

Additions property, plant and equipment by geographical area:

   2008  2007
       
Netherlands 17.4   23.3
France 6.6   3.8
Germany 6.1   10.3
Belgium/Luxembourg 6.2   8.1
Iberia 3.0   1.8
United Kingdom 3.8   2.6
Other European countries 7.7   4.3
North America 4.1   5.5
Rest of the world 3.4   0.8
       
  58.3   60.5

Additions property, plant and equipment by business segment:

   2008  2007
       
Staffing 38.1   39.8
Inhouse services 1.0   1.1
Professionals 14.3   8.3
Facilities 4.9   11.3
       
  58.3   60.5