14. Values of financial assets and liabilities by category

       

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 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

             
       

31 Dec 2014

   

M€

Carrying value total

LEVEL 1

LEVEL 2

LEVEL 3

Fair value total

Financial assets

         

Measured at fair value

         
 

Interest rate derivatives

1.1

-

1.1

-

1.1

 

Electricity derivatives

0.5

0.5

-

-

0.5

 

Available-for-sale financial assets

56.1

49.1

6.4

0.6

56.1

             

Measured at amortised cost

         
 

Held-to-maturity investments

6.8

2.0

4.8

-

6.8

 

Loans and receivables

6.0

6.0

-

-

6.0

 

Trade receivables

4.3

     

4.3

             

Financial liabilities

         
 

Measured at fair value

         
 

Interest rate derivatives

-54.9

-

-54.9

-

-54.9

 

Electricity derivatives

-1.5

-1.5

-

-

-1.5

             

Measured at amortised cost

         
 

Other interest-bearing liabilities

1,750.6

-

1,750.6

-

1,750.6

 

Bond

99.5

-

100.0

-

100.0

 

Trade payables

15.0

     

15.0

             
             

The fair value of loans is the same as their nominal value. During the year there were no transfers between the fair value hierarchy levels.

A more detailed analysis of the fair values of interest rate derivatives included and not included in hedge accounting is presented in Note 22.

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 quoted prices for identical instruments in active markets.

Level 2:
A quoted market price exists in active markets for an instrument on the same terms, but the price may be derived from directly or indirectly quoted market data.

Level 3:
There is no active market for the instrument, the fair value cannot be reliably derived and input data used for the determination of fair value are not based on observable market data.

Level 3 reconciliation

Non-current assets held for sale

M€

31 Dec 2015

31 Dec 2014

Beginning of period

 

0,6

Deductions

 

0,0

End of period

0,5

0,6

   

Non-current assets held for sale on hierarchy level 3 are investments in unlisted securities. They are measured at cost, as their fair value cannot be reliably measured in the absence of an active market.

 

 

 

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