Annual Report 2012 - Indesit

Separate financial statements at 31 December 2012 – Notes
9. Financial instruments
9.1 Management
of financial risks
Indesit Company S.p.A. manages its principal financial risks in accordance with the guidelines set out in
the Treasury Policy approved by the Board of Directors.
A detailed analysis of the policies and practices adopted for the management of financial risks is
presented in the notes to the consolidated financial statements, together with the other information
required by IFRS 7.
The following information is presented with regard to Indesit Company S.p.A.: information on the
transactions outstanding as of 31 December 2012, the carrying amount of the financial assets and
liabilities recognised in the statement of financial position, for each of the categories identified in IAS
39, the analysis of financial payables by maturity, and certain quantitative (sensitivity) information about
interest-rate risk.
With regard to exchange-rate risk, there are no significant exposures in currencies other than the euro.
Interest-rate risk:
sensitivity
A hypothetical upward shift in the interest-rate curve by 100 basis points or downward shift by 20 basis
points (in parallel along the entire curve) would have the effects indicated below.
The simulation is representative of the effects deriving from the exposures to risk at 31 December 2012,
or from the normalized average exposures in the limited cases in which the situation at year end was
not representative of that applying throughout the year.
31 December 2012
Variation +100bps
Variation -20bps
(million euro)
P&L effect Equity effect P&L effect Equity effect
Net indebtedness at floating rate (3.8) 0.0 n.a. n.a.
Derivative instruments hedging fixed rate loans - - n.a. n.a.
Derivative instruments hedging floating rate loans 1.9 2.5 n.a. n.a.
Total (1.9) 2.5 n.a. n.a.
31 December 2011
Variation +100bps
Variation -20bps
(million euro)
P&L effect Equity effect P&L effect Equity effect
Net indebtedness at floating rate (3.7) 0.1 0.7 (0.0)
Derivative instruments hedging fixed rate loans - - - -
Derivative instruments hedging floating rate loans - 5.9 - (1.2)
Total (3.7) 6.0 0.7 (1.2)
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