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NOTE 29
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LIQUIDITY RISK
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Liquidity risk - operations
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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.
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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.
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31.12.16
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NOK 1 000
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Less than 1 year
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1-3 years
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3-5 years
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Total
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Finance institutions
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1 161 020
|
2 649 026
|
1 035 667
|
4 845 713
|
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Accounts payable
|
1 772 801
|
-
|
-
|
1 772 801
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|
Other non-current liabilities
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-
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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
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31.12.15
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||||
|
NOK 1 000
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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
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-
|
86 776
|
60 410
|
147 187
|
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Public taxes and other current liabilities
|
1 279 343
|
-
|
-
|
1 279 343
|
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Total 1)
|
3 704 892
|
407 030
|
3 776 004
|
7 887 927
|
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The table below shows the anticipated receipts and payments on derivatives:
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|
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
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-
|
-
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-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
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-37 389
|
-14 078
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- 317
|
-51 784
|
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Credit facilities
|
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The table below shows a summary of used and unused credit facilities at 31 December:
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2016
|
2015
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Used
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Unused
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Used
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Unused
|
|
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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
|