Annual report 2012

22. Cash and cash equivalents

EUR thousand  2012 2011
Cash in hand and bank balances 19,802 6,444
Bank deposits with maturity of up to three months 12,001 37,500
Total 31,803 43,944

Bank balances bear interest at bank rates for positive cash balances between 0.01% and 1.00% p.a., while over-night deposits bear interest at contractually agreed rates between 0.55% and 1.35% p.a. (2011: 0.25% and 1.50% p.a.). The interest rate for a one-day deposit account is set at 0.10% p.a..

In 2012, the lowest interest rate for deposits was 0.35% p.a. and the highest 4.25% p.a., with a maturity from 1 to 193 days.

The Company discloses short-term and long-term credit lines or revolving loans that are secured by blank bills of exchange. Short-term revolving loans bear interest at 3.00% and mature in 2013. Long-term credit lines or revolving loans mature in 2015. The latter are subject to a variable interest rate and a premium ranging from 3.80% to 4.80%. In addition, the Company concluded agreements with banks on bank-account overdrafts subject to an interest rate of between 5.50% and 6.35%.