|
NOTE 29
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LIQUIDITY RISK
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Liquidity risk - operations
|
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Liquidity risk concerning operations relates primarily to the risk that Elopak, Telecomputing, Mestergruppen, Servi and Swix will not be able to service their financial obligations as they fall due. This risk is managed by maintaining adequate cash reserves and overdraft opportunities in banking and credit facilities, as well as continuously monitoring future and actual cash flows.
|
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|
The following tables provide an overview of the Group's contractual maturities of financial liabilities. The tables are compiled based on the earliest date the Group can be required to pay.
|
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|
31 December 2014
|
||||||||
|
NOK 1 000
|
Less than 1 year
|
1-3 years
|
3-5 years
|
Total
|
||||
|
Finance institutions
|
1 331 032
|
324 828
|
2 359 894
|
4 015 754
|
||||
|
Accounts payable
|
1 500 253
|
1 500 253
|
||||||
|
Other non-current liabilities
|
151 847
|
162 703
|
314 550
|
|||||
|
Public taxes and other current liabilities
|
1 247 394
|
1 247 394
|
||||||
|
Total 1)
|
4 078 679
|
476 675
|
2 522 597
|
7 077 951
|
||||
|
31 December 2013
|
||||||||
|
NOK 1 000
|
Less than 1 year
|
1-3 years
|
3-5 years
|
Total
|
||||
|
Finance institutions
|
525 844
|
324 049
|
3 192 937
|
4 042 830
|
||||
|
Accounts payable
|
1 074 147
|
1 074 147
|
||||||
|
Other non-current liabilities
|
256 120
|
45 084
|
301 204
|
|||||
|
Public taxes and other current liabilities
|
935 883
|
935 883
|
||||||
|
Total 1)
|
2 535 874
|
580 169
|
3 238 021
|
6 354 064
|
||||
|
The table below shows the anticipated receipts and payments on derivatives:
|
||||||||
|
31 December 2014
|
||||||||
|
NOK 1 000
|
Less than 1 year
|
1-3 years
|
More than 3 years
|
Total
|
||||
|
Net settlement
|
|
|||||||
|
- Interest rate swaps
|
- 1 202
|
22 313
|
- 2 088
|
19 023
|
||||
|
- Currency futures
|
- 38 659
|
- 22 761
|
- 61 420
|
|||||
|
- Commodity derivatives
|
- 14 634
|
- 14 634
|
||||||
|
Total
|
- 54 495
|
- 448
|
- 2 088
|
- 57 031
|
||||
|
31 December 2013
|
||||||||
|
NOK 1 000
|
Less than 1 year
|
1-3 years
|
More than 3 years
|
Total
|
||||
|
Net settlement
|
|
|||||||
|
- Interest rate swaps
|
1 915
|
5 750
|
18 022
|
25 687
|
||||
|
- Currency futures
|
- 35 969
|
- 19 892
|
- 3 437
|
- 59 298
|
||||
|
- Commodity derivatives
|
|
|
||||||
|
Total
|
- 34 054
|
- 14 142
|
14 585
|
- 33 611
|
||||
|
Credit facilities
|
||||||||
|
The table below shows a summary of used and unused credit facilities at 31 December:
|
||||||||
|
2014
|
2013
|
|||||||
|
Used
|
Unused
|
Used
|
Unused
|
|||||
|
Overdraft
|
||||||||
|
-Secured
|
175 351
|
251 149
|
122 925
|
256 587
|
||||
|
-Unsecured
|
114 813
|
694 233
|
163 744
|
526 438
|
||||
|
Credit facilities
|
||||||||
|
-Secured
|
2 701 490
|
7 578 816
|
2 300 529
|
7 716 123
|
||||
|
- Unsecured
|
||||||||
|
Factoring
|
||||||||
|
- Secured
|
20 376
|
4 149
|
514 191
|
268 634
|
||||
|
-Unsecured
|
703 872
|
236 412
|
|
|||||
|
Total secured
|
2 897 217
|
7 834 114
|
2 937 645
|
8 241 344
|
||||
|
Total unsecured
|
818 685
|
930 645
|
163 744
|
526 438
|
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