Fair values of financial instruments
| |
|
|
31 Mar 2016
|
|
|
|
M€
|
Carrying value total
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
Fair value total
|
| |
|
|
|
|
|
|
Financial assets
|
|
|
|
|
|
|
Measured at fair value
|
|
|
|
|
|
|
Interest rate derivatives
|
0.6
|
-
|
0.6
|
-
|
0.6
|
|
Electricity derivatives
|
0.4
|
0.4
|
-
|
-
|
0.4
|
|
Available-for-sale financial assets
|
41.8
|
39.3
|
2.0
|
0.5
|
41.8
|
| |
|
|
|
|
|
|
Measured at amortised cost
|
|
|
|
|
|
|
Held-to-maturity investments
|
6.2
|
2.0
|
4.2
|
-
|
6.2
|
|
Loans and other receivables
|
19.1
|
19.1
|
-
|
-
|
19.1
|
|
Trade receivables
|
3.9
|
|
|
|
3.9
|
| |
|
|
|
|
|
|
Financial liabilities
|
|
|
|
|
|
|
Measured at fair value
|
|
|
|
|
|
|
Interest rate derivatives
|
-71.9
|
-
|
-71.9
|
-
|
-71.9
|
|
Electricity derivatives
|
-2.0
|
-2.0
|
-
|
-
|
-2.0
|
| |
|
|
|
|
|
|
Measured at amortised cost
|
|
|
|
|
|
|
Other interest-bearing liabilities
|
1407.1
|
-
|
1407.2
|
-
|
1407.2
|
|
Bond
|
99.6
|
-
|
100.0
|
-
|
100.0
|
|
Trade payables
|
4.0
|
|
|
|
4.0
|
| |
|
|
|
|
|
| |
|
|
31 Dec 2015
|
|
|
|
M€
|
Carrying value total
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
Fair value total
|
| |
|
|
|
|
|
|
Financial assets
|
|
|
|
|
|
|
Measured at fair value
|
|
|
|
|
|
|
Interest rate derivatives
|
1.9
|
-
|
1.9
|
-
|
1.9
|
|
Electricity derivatives
|
0.8
|
0.8
|
-
|
-
|
0.8
|
|
Available-for-sale financial assets
|
29.7
|
27.3
|
2.0
|
0.5
|
29.7
|
| |
|
|
|
|
|
|
Measured at amortised cost
|
|
|
|
|
|
|
Held-to-maturity investments
|
6.2
|
2.0
|
4.2
|
-
|
6.2
|
|
Loans and other receivables
|
19.0
|
19.0
|
-
|
-
|
19.0
|
|
Trade receivables
|
3.6
|
|
|
|
3.6
|
| |
|
|
|
|
|
|
Financial liabilities
|
|
|
|
|
|
|
Measured at fair value
|
|
|
|
|
|
|
Interest rate derivatives
|
-50.3
|
-
|
-50.3
|
-
|
-50.3
|
|
Electricity derivatives
|
-2.0
|
-2.0
|
-
|
-
|
-2.0
|
| |
|
|
|
|
|
|
Measured at amortised cost
|
|
|
|
|
|
|
Other interest-bearing liabilities
|
1395.0
|
-
|
1395.0
|
-
|
1395.0
|
|
Bond
|
99.6
|
-
|
100.0
|
-
|
100.0
|
|
Trade payables
|
10.6
|
|
|
|
10.6
|
| |
|
|
|
|
|
| |
|
|
|
|
|
The fair value of the loans is equal to the nominal amount of the loan. There has not been any changes between fair value hierarchy levels during the reporting period.
Financial assets and liabilities measured at fair value are classified into three fair value hierarchy levels in accordance with the reliability of the valuation technique:
Level 1:
The fair value is based on market prices for identical instruments quoted in an active market.
Level 2:
A market price quoted on the active market exists for similar instrument. The price may, however, be derived directly or indirectly from quoted price information.
Level 3:
There is no active market for the instrument, the fair value cannot be reliably derived and the fair value is not determined based on observable market data.
Level 3 reconciliation
Available-for-sale financial assets
M€ | 31 Mar 2016 | 31 Dec 2015 |
Beginning of period | 0.5 | 0.6 |
Deductions | 0.0 | 0.0 |
End of period | 0.5 | 0.5 |
| | | | |
| | | | |
Available-for-sale financial assets at hierarchy level 3 are unquoted shares measured at historical cost less any impairment losses as their fair values cannot be measured reliably.
