Page 88 - Annual Report KELAG Group 2018
P. 88

With the exception of commodity forward contracts related to trading activities and one interest
           hedging instrument, the KELAG Group only holds non-derivative financial instruments, which on
           the  assets  side  include  mainly  cash,  securities,  trade  receivables,  bank  balances  and  other
           receivables, and on the liabilities side bonds, bank loans, trade payables and other liabilities.

           The fair value of the bonds issued by KELAG amounted to EUR 335.7m as of the reporting date
           (prior year: EUR 339.8m) and was determined based on observable market prices (Level 1). For the
           other financial instruments under IFRS 7, reference is made to Note 18  “Trade receivables and
           other receivables and assets”, Note 19 “Cash and cash equivalents”, and Note 28 “Trade payables
           and  other  liabilities”.  The  carrying  amount  recognised  in  the  statement  of  financial  position
           adequately  approximates  the  market  value  as  of  the  reporting  date.  For  information  on
           undiscounted cash flows, please refer to the disclosures on liquidity risk.

           There were no late payments or payment defaults and contract breaches relating to loan liabilities
           during the financial year.











            Market value of derivatives (assets)   0.0   48.2       0.0       48.2
            Market value of derivatives      0.0       48.2         0.0       48.2
            (liabilities)
            Cash flow hedge (liabilities)    0.0        0.7         0.0        0.7
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