16.5.2. THE RISK OF EXCHANGE RATES CHANGES
The risk of exchangerates changes
Currency structure of financial instruments
|
Financial instruments by class |
EUR |
USD |
CZK |
CAD |
Other currencies |
Total after |
||||||
|
31/12/2020 |
31/12/2019 |
31/12/2020 |
31/12/2019 |
31/12/2020 |
31/12/2019 |
31/12/2020 |
31/12/2019 |
31/12/2020 |
31/12/2019 |
31/12/2020 |
31/12/2019 |
|
|
Financial assets |
||||||||||||
|
Financial assets measured at fair value through other comprehensive incom |
- |
- |
- |
- |
- |
- |
2 |
2 |
- |
- |
4 |
7 |
|
Trade receivables |
431 |
634 |
74 |
156 |
4,684 |
6,719 |
21 |
30 |
30 |
31 |
3,181 |
4,536 |
|
Lease |
- |
- |
- |
- |
76 |
143 |
- |
- |
- |
- |
13 |
25 |
|
Derivatives |
115 |
118 |
18 |
13 |
- |
- |
2 |
- |
- |
- |
604 |
553 |
|
Cash and cash equivalents |
49 |
728 |
35 |
209 |
254 |
5,216 |
5 |
1 |
23 |
14 |
442 |
4,787 |
|
Security deposits |
- |
- |
97 |
79 |
- |
- |
2 |
2 |
- |
- |
368 |
304 |
|
Receivables on settled derivatives |
- |
- |
12 |
29 |
- |
- |
- |
- |
- |
- |
46 |
110 |
|
Hedged item adjustment |
- |
- |
1 |
1 |
- |
- |
- |
- |
- |
- |
2 |
4 |
|
Other |
7 |
10 |
12 |
79 |
296 |
124 |
- |
2 |
1 |
2 |
133 |
373 |
|
|
602 |
1,490 |
249 |
566 |
5,310 |
12,202 |
32 |
37 |
54 |
47 |
4,793 |
10,699 |
|
Financial liabilities |
||||||||||||
|
Loans |
- |
501 |
- |
- |
2,847 |
- |
15 |
1 |
- |
- |
543 |
2,134 |
|
Bonds |
1,818 |
1,261 |
- |
- |
- |
- |
- |
- |
- |
- |
8,389 |
5,369 |
|
Lease |
373 |
341 |
- |
- |
2,313 |
2,371 |
1 |
- |
- |
- |
2,131 |
1,852 |
|
Trade liabilities |
260 |
368 |
571 |
1,072 |
3,617 |
3,708 |
16 |
20 |
4 |
5 |
4,032 |
6,326 |
|
Investment liabilities |
117 |
81 |
5 |
14 |
1,485 |
1,422 |
25 |
50 |
- |
- |
891 |
783 |
|
Derivatives |
41 |
6 |
35 |
48 |
305 |
305 |
9 |
4 |
- |
- |
397 |
268 |
|
Liabilities on settled derivatives |
- |
- |
41 |
55 |
- |
- |
- |
- |
- |
- |
156 |
209 |
|
Hedged item adjustment |
- |
- |
2 |
1 |
- |
- |
- |
- |
- |
- |
7 |
4 |
|
Other |
2 |
3 |
72 |
73 |
1,631 |
1,494 |
- |
2 |
- |
- |
565 |
551 |
|
|
2,611 |
2,561 |
726 |
1,263 |
12,198 |
9,300 |
66 |
77 |
4 |
5 |
17,111 |
17,496 |
Sensitivity analysisfor changes in the exchange rates
|
|
EUR / PLN |
USD / PLN |
CZK / PLN |
CAD / PLN |
Total |
|||||
|
2020 |
2019 |
2020 |
2019 |
2020 |
2019 |
2020 |
2019 |
2020 |
2019 |
|
|
variation of exchange rates +15% |
||||||||||
|
Influence on result before tax (A) |
(1 063) |
(1 526) |
8 |
60 |
(25) |
11 |
(159) |
4 |
(1 239) |
(1 451) |
|
Influence on hedging reserve (B) |
(319) |
(1 036) |
10 |
1 |
- |
- |
- |
- |
(309) |
(1 035) |
|
Impact on equity due to exchange differences on translating foreign operations (C) |
(110) |
(11) |
(150) |
(129) |
(149) |
69 |
147 |
(20) |
(262) |
(91) |
|
Total influence (A+B+C) |
(1 492) |
(2 573) |
(132) |
(68) |
(174) |
80 |
(12) |
(16) |
(1 810) |
(2 577) |
|
Sensitivity of net investment in foreign operations including hedging reserve (D) |
137 |
112 |
279 |
363 |
1 393 |
1 480 |
303 |
318 |
2 112 |
2 273 |
|
Total influence on profit or loss and other comprehensive income (A+B+D) |
(1 245) |
(2 450) |
297 |
424 |
1 368 |
1 491 |
144 |
322 |
564 |
(213) |
At variation of currency rates by (-)15% the sensitivity analysis states variations of the same value as in the above table but with the opposite sign.
Variations of currency rates described above were calculated based on average volatility of particular currency rates in 2020 and 2019.
The influence of currency rate variations on fair value of derivatives was examined at constant level of interest rates.
