FINANCIAL REPORT 2012 - Keolis

47
Derivative instruments are recognised in the statement of financial position at their fair value for the following amounts:
At 31 December 2012 At 31 December 2011
(€ million)
Assets Liabilities Assets Liabilities
Currency instruments - 0.39 - 0.55
Commodities instruments 0.30 0.90 1.49 0.48
Interest rate instruments 0.06 0.63 0.25 0.74
TOTAL 0.36 1.92 1.74 1.77
Foreign exchange risk management
For limited amounts, Keolis uses foreign exchange hedges primarily backed by loans or borrowings denominated in foreign
currency and recorded in current accounts; they are designated as eligible for trading under IAS 39.
The hedging instruments used by Keolis at 31 December 2012 were standard and liquid:
- forward sales and purchases;
- swaps.
As at 31 December 2012, the impact of foreign currency hedging contracts at closing prices on the 2012 income statement
is as follows:
- Net fair value: €391 thousand (as opposed to -€546 thousand as at 31 December 2011);
- Balance of income statement: unrealised charge of €391 thousand;
- Balance of “Fair value reserve” (OCI) account: nil.
Derivative instruments are recognised in the statement of financial position at their fair value at the following amounts:
At 31 December 2012 At 31 December 2011
(€ million)
Assets Liabilities Assets Liabilities
Currency instruments, of which:
Derivatives designated as NIH - - - -
Derivatives designated as trading - 0.39 - 0.55
TOTAL - 0.39 - 0.55
The nominal amounts and the fair values of foreign exchange transactions are detailed below:
AUD HEDGE
At 31 December 2012
Nominal
(AUD
thousand)
Fair value
(EUR
thousand)
Forward purchases - -
Forward sales 20,400 (110)
TOTAL 20,400 (110)
KEOLIS S.A. _ FINANCIAL REPORT _ 2012