Annual Report 2008 – Financial Section - Quilvest
Annual Report 2008 – Financial Section - Quilvest
Annual Report 2008 – Financial Section - Quilvest
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Notes to the Consolidated <strong>Financial</strong> Statements (continued)<br />
7.4) Schedules of derivatives by currency risk<br />
7.4.1) Detailed schedule of derivatives by currency risk in <strong>2008</strong><br />
In $ ‘000 USD/CHF EUR/CHF EUR/USD GBP/USD<br />
Weighted Weighted Weighted Weighted<br />
average average average average<br />
contracted Notional contracted Notional contracted Notional contracted Notional<br />
exchange amount exchange amount exchange amount exchange amount<br />
rates rates rates rates<br />
Buy<br />
Less than 3 months 1.0984 1,544 1.4955 2,048 1.4269 2,615 1.4920 29,840<br />
Between 3 months and 1 year - - - - 1.2878 360 - -<br />
Total 1,544 2,048 2,975 29,840<br />
Sell<br />
Less than 3 months 1.1214 41,183 1.4955 2,053 1.4344 2,763 1.4930 28,971<br />
Between 3 months and 1 year 1.0428 18,699 - - 1.2879 395 - -<br />
Total 59,882 2,053 3,158 28,971<br />
The remaining notional amount of USD 79,044,000 represents a coverage position between 3 months and 1 year of GBP<br />
against CHF, split in a Buy position of USD 26.6 million against a Sell position of USD 25.6 million, and a coverage position of<br />
less than 3 months ofAUD against USD, split in a Buy position of USD 13 million against a Sell position of USD 13.8 million.<br />
7.4.2) Detailed schedule of derivatives by currency risk in 2007<br />
In $ ‘000 USD/CHF EUR/CHF EUR/USD GBP/USD<br />
Weighted Weighted Weighted Weighted<br />
average average average average<br />
contracted Notional contracted Notional contracted Notional contracted Notional<br />
exchange amount exchange amount exchange amount exchange amount<br />
rates rates rates rates<br />
Buy<br />
Less than 3 months 1.1172 2,029 1.6520 2,157 1.4482 17,249 1.9902 418<br />
Between 3 months and 1 year - - - - 1.4031 419,124 2.0309 9,802<br />
Total 2,029 2,157 436,373 10,220<br />
Less than 3 months 1.1290 13,495 1.6520 2,152 1.4487 17,085 1.9902 418<br />
Between 3 months and 1 year 1.1367 43,789 - - 1.4196 345,204 2.0309 10,000<br />
Total 57,284 2,152 362,289 10,418<br />
The remaining notional amount of USD 2,198,000 represents a less than 3 months coverage position of JPY and NZD<br />
against CHF, split in a Buy position corresponding to CHF 1,251,000 and a Sell position corresponding to CHF 1,238,000.<br />
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