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Hedging activities
The Group uses derivative financial instruments to hedge the
interest rate risk. All derivative financial instruments are
measured at fair value. The following table gives the remai-
ning term of the outstanding derivative financial instru-
ments at closing date. The amounts given in this table are
the notional amounts.
IN ’000 $
2015
< 1YEAR
1-5YEARS
> 5YEARS
TOTAL
Foreign currency
Foreign exchange forward contracts
2 000
2 000
IN ’000 $
2014
< 1YEAR
1-5YEARS
> 5YEARS
TOTAL
Foreign currency
Foreign exchange forward contracts
1 200
1 200
Fair value
Fair value is the amount at which an asset can be traded or a
liability settled in an orderly transaction between well-infor-
med, willing parties, following the ‘arm’s length’ principle.
The following table discloses the clean fair value and the
carrying amount of the main interest-bearing financial loans
and borrowings (measured at amortized cost).
IN ’000 €
2014
2015
TOTAL
< 1YEAR
TOTAL
< 1YEAR
Loans and borrowings with credit institutions
5 000
5 000
41 600
5 949
Bank overdrafts
470
470
43
43
Commercial Paper
41 000
41 000
TOTAL
46 470
46 470
41 643
5 992
In respect of interest-bearing loans and borrowings with a variable interest rate, the following table shows the periods in which
they reprice.
IN ’000 €
2014
< 1YEAR
1-5YEARS
> 5YEARS
TOTAL
Bond
3 563
89 250
92 813
Trade payables
52 181
52 181
Commercial Paper
41 000
41 000
Lease liabilities
3 437
6 477
8 270
18 184
Loans and borrowings with credit institutions
51
5 104
5 155
Contingent considerations
4 159
4 159
Tax shelter liabilities
460
460
Bank overdrafts
470
470
Third party current account payables
43
43
Non-derivative financial liabilities
105 364
100 831
8 270
214 465
Foreign exchange forward contracts
- Outflow
959
959
- Inflow
-988
-988
Derivative financial liabilities
-29
-29
TOTAL
105 335
100 831
8 270
214 436
106
05 / FINANCIAL REPORT
KINEPOLIS GROUP
ANNUAL REPORT 2015