SOMFY - Annual Financial Report 2020
06 PARENT COMPANY FINANCIAL STATEMENTS
MARKET VALUE OF DERIVATIVES NOTE 15 — FOREIGN EXCHANGE RISK NOTE 15.1
Somfy’s exposure to foreign exchange risk is primarily related to its operational activities (intragroup sales of manufactured products distributed by commercial subsidiaries outside the Euro zone, these sales being denominated in local currencies, and purchases denominated in local currencies). Subsidiaries’ hedges in these areas are made through the parent company Somfy SA. Commercial transactions are covered for a period of less than 12 months. The main hedging instruments usually used by the company are forward purchases and sales.
Foreign exchange hedges by currency
Contract nominal value
31/12/20 € thousands
Sales 7,367 3,262 4,073
Purchases
Net total
Fair value
7,367 3,262 2,870
AUD CAD CHF CNY CZK GBP HKD HUF MXN NOK PLN RON RUB SEK SGD THB TRY USD ILS JPY
– –
-186
7
-1,203 -17,451 -4,001 -4,173
43
-17,451 -4,001
– –
262
29
5,949
10,122
-28
462 409
809 409
-347
27
– – – – – – – – –
-1
3,929 2,925 1,028 2,407 2,522 1,181 2,173 1,289 565
3,929 2,925 1,028 2,407 2,522 1,181 2,173 1,535 565
-29
25
-35
-118
-5 -7
-21 -98
-247
-2 -3
381
381
– –
2,271 -8,475 11,064
2,271
-70
–
-8,475
-342 -554
46,961
-35,897
165
SOMFY – ANNUAL FINANCIAL REPORT 2020
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