113
112
Annual Financial Statements
4.8.2 Financial assets at fair value through profit or loss
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
31/12/2014
31/12/2013
31/12/2014
31/12/2013
Total Opening
1,598
2,512
431
545
Additions
18,721
100
-
100
Sales
(15,967)
(1,390)
-
(193)
Fair Value Adjustments
(1,311)
375
150
(22)
Exchange Rate Differences
40
-
-
-
Closing Balance
3,080
1,598
581
431
4.8.3 Derivatives financial instruments
MYTILINEOS GROUP
31/12/2014
31/12/2013
(Amounts in thousands
€
)
Asset
Liability
Asset
Liability
Derivatives
555
4,949
-
1,563
All derivatives open positions have been marked to market. Fair values of the “interest rate swaps”, are confirmed by
the financial institutions that the Group has as counterparties.
The Group manages the exposure to currency risk through the use of currency forwards and options and thus by “lock-
ing” at exchange rates that provide sufficient cash flows and profit margins. Furthermore, the Group manages the
exposure to commodity risk through the use of: a) commodity futures that hedge the risk from the change at fair value
of commodities and b) commodity swaps that hedge fluctuations in cash flows from the volatility in aluminum prices.
4.8.4 Other long-term receivables
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
31/12/2014
31/12/2013
31/12/2014
31/12/2013
Customers - Withholding guarantees falling due
after one year
72,142
30,115
-
-
Given Guarantees
1,313
1,535
173
165
Other long term receivables
5,613
7,078
-
-
Other Long-term Receivables
79,069
38,728
173
165
4.8.5 Loan liabilities
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
31/12/2014
31/12/2013
31/12/2014
31/12/2013
Long-term debt
Bank loans
2,179
2,668
-
-
Leasing liabilities
-
10
-
-
Bonds
521,770
432,401
151,981
159,308
Other
74
35
-
-
Total
524,023
435,115
151,981
159,308
Short-term debt
Overdraft
48,974
29,128
3,832
3,329
Bank loans
56,774
53,265
-
-
Bonds
15,000
9,250
-
-
Total
120,748
91,643
3,832
3,329
Current portion of non-current liabilities
42,090
164,668
9,167
-
Total
686,861
691,426
164,980
162,637
The effective weighted average borrowing rate for the group, as at the balance sheet date is 5,99%.
4.8.6 Other long-term liabilities
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
31/12/2014
31/12/2013
31/12/2014
31/12/2013
Received guarantees - Grants-Leasing
Total Opening
37,743
33,409
-
-
Additions
-
7,025
-
-
Transfer At Profits/Loss
-
(2,004)
-
-
Transfer From / (To) Short - Term
(3,627)
(687)
-
-
Closing Balance
34,116
37,743
-
-
Advances of customers
Total Opening
11,261
146
-
-
Additions
61,558
92,686
-
-
Transfer From / (To) Short - Term
(48,406)
(81,570)
-
-
Closing Balance
24,413
11,261
-
-
Other
Total Opening
101,267
77,005
37,347
-
Additions
(48,480)
181
-
-
Transfer From / (To) Short - Term
(52,437)
24,082
(1,749)
37,347
Discont. Operations / Sales Of Subsidiary
(189)
-
-
-
Exchange Rate Differences
2
(1)
-
-
Closing Balance
164
101,267
35,598
37,347
Suppliers holdings for good performance
Total Opening
-
14
-
-
Additions
16,993
4,153
-
-
Transfer From / (To) Short - Term
(3,220)
(4,168)
-
-
Closing Balance
13,773
-
-
-
Total
72,467
150,272
35,598
37,347
