Annual report 2016

NOTE 29
LIQUIDITY RISK
     
         
Liquidity risk - operations
Liquidity risk concerning operations relates primarily to the risk that Elopak, Mestergruppen, Interwell, Servi and Swix will not be able to service their financial obligations as they fall due. This risk is managed by maintaining adequate cash reserves and overdraft opportunities in banking and credit facilities, as well as continuously monitoring future and actual cash flows.
         
The following tables provide an overview of the Group's contractual maturities of financial liabilities. The tables are compiled based on the earliest date the Group can be required to pay.
         
31.12.16
       
NOK 1 000
Less than 1 year
1-3 years
3-5 years
Total
Finance institutions
1 161 020
2 649 026
1 035 667
4 845 713
Accounts payable
1 772 801
-
-
1 772 801
Other non-current liabilities
-
188 297
24 452
212 749
Public taxes and other current liabilities
1 436 822
-
-
1 436 822
Total 1)
4 370 643
2 837 323
1 060 119
8 268 085
         
31.12.15
       
NOK 1 000
Less than 1 year
1-3 years
3-5 years
Total
Finance institutions
661 164
320 253
3 715 594
4 697 011
Accounts payable
1 764 385
-
-
1 764 385
Other non-current liabilities
-
86 776
60 410
147 187
Public taxes and other current liabilities
1 279 343
-
-
1 279 343
Total 1)
3 704 892
407 030
3 776 004
7 887 927
1) The table does not include lease obligations, guarantees and off-balance sheet liabilities, cf. notes 26 and 30 respectively.
         
The table below shows the anticipated receipts and payments on derivatives:
 
31.12.16
       
NOK 1 000
Less than 1 year
1-3 years
More than 3 years
Total
Interest rate swaps
-13 515
-12 238
-1 193
-26 947
Currency futures
-24 700
-
-
-24 700
Commodity derivatives
12 594
11 567
-
24 160
Total
-25 621
- 672
-1 193
-27 486
         
31.12.15
       
NOK 1 000
Less than 1 year
1-3 years
More than 3 years
Total
Interest rate swaps
-16 409
-13 204
- 317
-29 930
Currency futures
-72 289
- 874
-
-73 163
Commodity derivatives
51 309
-
-
51 309
Total
-37 389
-14 078
- 317
-51 784
         
Credit facilities
The table below shows a summary of used and unused credit facilities at 31 December:
 
                       2016
                           2015
 
Used
Unused
Used
Unused
Overdraft
       
Secured
119 658
127 372
34 003
6 297 600
Unsecured
16 501
421 032
48 015
384 120
Credit facilities
       
Secured
1 049 612
-
632 947
314 894
Unsecured
1 953 118
1 681 402
2 045 439
1 939 806
Factoring
       
Secured
58 988
16 219
57 618
19 206
Unsecured
582 359
375 437
480 150
547 371
Total secured
1 228 258
143 591
724 569
6 631 700
Total unsecured
2 551 978
2 477 870
2 573 604
2 871 297

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