Annual report 2012 - Comrod

Annual report 2012 58/92Strategies and values | Group | Parent company | Corporate governance | ContactAnnual report Financial statement NotesCont. Note 24: Financial instrumentsOther information relating to financial instrumentsNo financial assets have been reclassified by changing the measurement method from amortised cost to fair value or vice versa.Hedge of net investment12.31.2012 12.31.2011Comrod Communication ASA has the following investments in subsidiaries:Investment in Comrod France SAS in EUR (1000) 7 534 8 932During 2012 the investment in Comrod France SAS has been impaired. The impairment was in EUR (1000) 1 398.The investment in Comrod France SAS is eliminated in the Comrod Communication Group figures.The investment in Comrod France SAS is partly financed in Euro, the functional currency of Comrod FranceThe debt is recorded as investment hedging in NOK (1000) 29 524 33 123Debt amount in EUR (1000) 4 022 4 272Change in gain/(loss) of hedge of net investment are recognized in other comprehensive income.Sensitivity analysisCurrent receivables and payablesThe table below give the group exposure for the main foreign currencies, USD and EUR, given that othervariables are left unchanged, andbased on the balances 31.12. It is the net impact of derivatives related to loans, trade and other current receivables, trade and othercurrent payables. The table give the impact on Profit before tax and on equity of a change in USD and EUR respectively.Exposure (full year effect) (NOK 1000) ofPercentagechange inexchangeratesImpacton Profitbefore taxImpact onequity 31.12Currency - USD/NOK 2012 -20 % 3 969 -+20 % (3 969) -2011 -20 % (3 320) -+20 % 3 320 -Currency - EURO/NOK 1 2012 -20 % 3 261 5 476+20 % (3 261) (5 476)2011 -20 % 5 398 6 171+20 % (5 398) (6 171)58