ANNUAL REPORT 2008 - Gorenje Group

126
2008
31 December 2007 in TEUR
Net profit or loss
HRK -1,226
DKK -196
PLN 547
RSD 587
CZK 1,013
Other currencies -1,251
A 5- percent decrease of the euro against the stated currencies as at 31 December would have had
the equal yet opposite effect, provided that all other variables remain unchanged.
Interest rate risk
The Group’s exposure to interest rate risk:
In TEUR 2008 2007
Fixed rate financial instruments
Financial assets 2,267
Financial liabilities 28,118 31,763
Variable rate financial instruments
Financial liabilities 432,256 279,679
Fair value sensitivity analysis for fixed rate instruments
The Group does not record any fixed rate financial instruments at fair value through profit or loss
and derivatives designated as fair value hedge. Therefore a change in the interest rate at the reporting
date would not have any impact on net profit or loss.
Fair value sensitivity analysis for variable rate instruments
A change in the interest rate by 100 basis points (bp) at the reporting date would have increased
(decreased) net profit or loss by the amounts shown below. This analysis assumes that all other variables,
in particular foreign currency rates, remain unchanged. The analysis has been performed on
the same basis as for 2007.
Net profit or loss
in TEUR
Increase
Decrease
100 bp 100 bp
31 December 2008
Variable rate instruments -3,700 3,700
Interest rate swap 749 -749
Cash flow sensitivity -2,951 +2,951
31 December 2007
Variable rate instruments -2,375 2,375
Interest rate swap 1,403 -1,401
Cash flow sensitivity -972 974