Boskalis Annual Report 2020

130 130

Currency transaction risk, excluding interest-bearing financing The currency transaction risk resulting from future operational transactions in currencies other than the group company’s functional currency can be summarized as follows:

2019

2020

Euro

Expected cash flows in US dollars

291,640 - 6,157 49,099 15,359 - 5,375 17,858

117,252

Expected cash flows in Australian dollars Expected cash flows in Pounds Sterling Expected cash flows in Indian rupees Expected cash flows in Singapore dollars Expected cash flows in Swedish kroners

-

16,664

-

24,052 10,792 - 13,428 10,664 165,996

Expected cash flows in Euros

-

Expected cash flows in other currencies

22,649 385,073

Expected cash flows

Cash flow hedges

- 375,810

- 152,706

Net position

9,263

13,290

Sensitivity analysis Due to the fact that expected future cash flows in foreign currencies are hedged, the sensitivity of financial instruments, excluding interest-bearing financing, to foreign currency risk is limited for the Group. The Group is mainly funded by interest-bearing borrowings denominated in US dollars (see note 24 ‘Interest- bearing borrowings’). The US Private Placements expressed in US dollars are used to partly hedge the net investments in Dockwise and Fairmount, including the intercompany financing provided. Therefore and due in part to hedge accounting, the sensitivity in the profit or loss account is limited for financing in currencies other than the euro. Interest rate risk The Group has mainly fixed interest rate liabilities and a revolving multi-currency facility with a variable interest rate. With a view to managing interest rate risks, the policy is that interest rates for loans payable are in principle primarily fixed for the entire maturity period. This is achieved by contracting loans that carry a fixed interest rate and/or by using derivatives such as interest rate swaps.

ANNUAL REPORT 2020 – BOSKALIS FINANCIAL STATEMENTS 2020 A NUAL REPORT 2020 -- BOSKALIS FI ANCIAL S AT MENTS 020 As at 31 December 2020 Cash and cash equivalents Short-term deposits US Private Placements (USD) Export Credit Facility (EUR) Other interest-bearing borrowings (EUR) Lease liabilities Bank overdrafts

The interest rates and maturity profiles of interest-bearing loans, lease liabilities, deposits and cash and cash equivalents are stated below.

Interest rate One year or less

1 - 5 years

Over 5 years

Total

- 0.25% - 0.38%

601,797 222,750

- -

- - -

601,797 222,750 - 265,330 - 102,446 - 120,948 - 9,555 317,617 - 8,651

3.66% 1.10% 8.37% 1.57% 0.44%

-

- 265,330 - 39,128 - 5,837 - 56,477

- 9,782 - 2,814 - 30,084 - 9,555 772,312

- 53,536

-

- 34,387

-

-

- 366,772

- 87,923