Annual Report 2008 Sustainable design & engineering - Grontmij

Notes to the consolidated financial statements
Exchange rates applied during the year
Average rate
Reporting date spot rate
2008 2007 2008 2007
DKK 0.134 0.134 0.134 0.134
GBP 1.259 1.462 1.027 1.485
PLN 0.286 0.265 0.242 0.263
SEK 0.104 0.108 0.091 0.111
Sensitivity analysis
A 5 percent strengthening of the euro against the following currencies at 31 December would have increased (decreased) equity and profit or
loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant. The analysis is
performed on the same basis for 2007.
In thousands of euros
2008 2007
Equity Profit or loss Equity Profit or loss
DKK 5,304 426 4,876 131
GBP 984 230 999 277
PLN 315 55 155 5
SEK 635 261 656 263
A 5 percent weakening of the euro against the above currencies at 31 December would have had the equal but opposite effect on the above
currencies to the amounts shown above, on the basis that all other variables would remain constant.
Interest rate risk
Profile
At the reporting date the interest rate profile of the Group’s interest bearing financial instruments was as follows:
Carrying amount, in thousands of euros
31 December 2008 31 Dcember 2007
Fixed rate instruments:
Assets 11,624 7,293
Liabilities -7,379 -5,935
4,245 1,358
Variable rate instruments:
Assets 60 2,187
Liabilities -72,682 -77,653
-72,622 -75,466
Fair value sensitivity analysis for fixed rate instruments
The Group does not account for any fixed rate financial assets and liabilities at fair value through profit or loss, and the Group does not designate
derivatives (interest rate swaps) as hedging instruments under a fair value hedge accounting model. Therefore, a change in interest rates at the
reporting date would not affect profit or loss.
Cash flow sensitivity analysis for variable rate instruments
A change of 100 basis points in interest rates at the reporting date would have increased (decreased) equity and profit or loss by the amounts
shown below. This analysis assumes that all other variables, in particular foreign currency rates, remain constant. The analysis is performed on
the same basis for 2007.
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GRONTMIJ | ANNUAL REPORT 2008