Annual Report 2005/06 - voestalpine
Annual Report 2005/06 - voestalpine
Annual Report 2005/06 - voestalpine
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12<br />
Consolidated Financial Statements<br />
<strong>Annual</strong> <strong>Report</strong> <strong>2005</strong>/<strong>06</strong><br />
23. FinanCial insTrUmenTs<br />
Financing<br />
As financing is mostly carried out in the local currency of the respective<br />
borrower in order to avoid currency exchange risks, on the balance<br />
sheet date financing is only shown in the following currencies:<br />
Loans Money market Total<br />
AUD 0.0 4.4 4.4<br />
CAD 0.0 4.2 4.2<br />
CHF 2.1 2.0 4.1<br />
CZK 357.1 365.5 722.6<br />
GBP 4.0 7.7 11.7<br />
HRK 0.0 25.6 25.6<br />
NOK 0.0 5.5 5.5<br />
PLN 0.0 7.2 7.2<br />
SEK 1.4 3.4 4.8<br />
USD 144.0 1.2 145.2<br />
In millions<br />
The proportion of financing in foreign currencies is approx. 14.4% of<br />
the total liabilities portfolio. Loans in USD are currency-hedged<br />
through cross-currency swaps.<br />
There are currently credit lines (redeemable at any time) available at<br />
domestic and foreign banks which are only very marginally used due to<br />
the excellent liquidity situation. Alongside the potential to exhaust<br />
these financing arrangements, a contractually agreed irredeemable<br />
liquidity reserve of EUR 100 million is available to bridge any downturns<br />
due to the economy.<br />
The maturity structure of the credit portfolio has a balanced profile and<br />
uniform repayment requirements over the next several years.
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