Boskalis_Annual_Report_2016

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The maximum credit risk as at the balance sheet date, without taking into account the aforementioned financial risk coverage policy and instruments consists of the carrying amounts of the financial assets as stated below:

31 DECEMBER 2016

2015

Financial instruments available for sale

-

115,379

Non-current receivables

5,915

1,061

Trade receivables

379,910 17,237 330,420 55,934

274,429 22,647 300,852 80,804

Amounts due from joint ventures and associated companies

Other receivables and prepayments

Derivatives

Income tax receivable

9,893

7,495

Cash and cash equivalents

793,720

965,331

1,593,029

1,767,998

The maximum credit risk on trade debtors by operational segment was as follows as at the reporting date:

31 DECEMBER 2016

2015

Dredging & Inland Infra Offshore Energy Towage & Salvage Holding & Eliminations

232,773 139,566

165,498 104,045

5,904 1,667

4,279

607

379,910

274,429

The aging of trade debtors as at 31 December was as follows:

2015

2016

Gross

Impairment

Gross

Impairment

227,092 51,095 46,943 33,180 41,160 399,470 - 19,560 379,910

Not past due ANNUAL REPORT 2016 – BOSKALIS FINANCIAL STATEMENTS 2016 Past due 0 - 90 days Past due 90 - 180 days Past due 180 - 360 days More than 360 days Impairment Trade receivables at book value Balance as at 1 January Reclassified to disposal group Provisions made during the year Provisions used during the year Provisions released during the year Currency exchange rate differences Balance as at 31 December

184,286 44,723

-

-

- 979 - 132

- 4,175

3,354

- 177

- 1,754 - 16,695 - 19,560

17,951 44,844 295,158 - 20,729 274,429

- 4,726 - 11,651 - 20,729

With respect to the receivables that are neither impaired nor past due, there were no indications as at the reporting date that these will not be settled.

The movement in the allowance for impairment in respect of trade debtors during the year was as follows:

2015

2016

18,568

19,560

Acquired through business combinations

- -

299 - 14

4,190 - 2,109

11,185 - 8,395

- 962 - 127

- 935 - 971 1,169

992

19,560

20,729

Concentration of credit risk of customers As at reporting date there was no concentration of credit risk with certain customers.