Maturity structure of long-term interest bearing liabilities

 

 

The Group's solvency was excellent throughout the financial year 2017. As at 31 December 2017, liquid assets totalled €398 million (€391 million). Interest-bearing liabilities were €534 million (€515 million) and interest-bearing net debt €136 million (€123 million) as at 31 December 2017.

  31 Dec. 2017 31 Dec. 2016
€ million < 1 year 1-5 years > 5 years Total < 1 year 1-5 years > 5 years Total
Maturities of financial liabilities and related finance costs                
Borrowings from financial institutions 6.4 8.9 0.1 15.5 5.0 2.3   7.3
finance costs 0.8 1.1 0.0 1.9 0.0 0.1   0.1
Private Placement notes (USD)   20.0   20.0   22.0   22.0
finance costs 1.3 0.6   1.9 1.4 2.1   3.6
Bonds 224.8     224.8   225.0   225.0
finance costs 6.2     6.2 6.2 6.2   12.4
Pension loans 10.5 66.2 26.9 103.5 2.4 60.4 43.1 105.9
finance costs 1.0 2.5 0.6 4.1 1.1 3.1 1.0 5.3
Finance lease liabilities 3.5 7.5 0.1 11.0 2.9 5.7 0.0 8.6
finance costs 0.1 0.2 0.0 0.3 0.3 0.4 0.0 0.7
Payables to K-retailers 113.3     113.3 116.0     116.0
finance costs               0.0
Other interest-bearing liabilities 37.8 1.7 6.5 46.0 29.6     29.6
finance costs 0.3 1.1 0.1 1.6       0.0
Non-current non-interest-bearing liabilities 0.8 4.0 26.5 31.2 0.7 12.3 27.2 40.2
                 
Current non-interest-bearing liabilities                
Trade payables 1,023.7     1,023.7 1,069.2     1,069.2
Accrued expenses 308.5     308.5 316.2     316.2
Other non-interest-bearing liabilities 188.6     188.6 191.6     191.6
 
Financial liabilities in the balance sheet include €3.4 million (€6.5m) in items related to derivatives.
 
  31 Dec. 2017 31 Dec. 2016
€ million < 1 year 1-5 years > 5 years Total < 1 year 1-5 years > 5 years Total
Cash flows of derivatives                
Payables                
Foreign exchange forward contracts outside hedge accounting 78.1     78.1 175.4     175.4
Net settlement of payables                
Interest rate derivatives 0.2 1.3   1.5        
Electricity derivatives 0.6     0.6 1.2 0.8   2.0
Foreign currency derivatives   0.1   0.1 1.5 2.1   3.6
                 
Receivables                
Foreign exchange forward contracts outside hedge accounting 76.2     76.2 172.4     172.4
Net settlement of receivables                
Electricity derivatives 0.2 0.2   0.4 0.2 0.1   0.3
Derivatives relating to Private Placement notes                
Foreign currency derivatives               0.0
Interest rate derivatives 0.2 0.1   0.3   1.5   1.5

 
The cash flows of Private Placement notes and related currency and interest rate derivatives are settled on a net basis. The interest rate derivative liability related to the arrangement is presented within other interest-bearing liabilities in the statement of financial position. The amount of interest-bearing liability in the balance sheet arising from this credit facility totals €20.1 million (€20.1 million). 

 

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