Gabriel_Annual_Report_2024-25 - Flipbook - Page 95
CONTENTS // CONSOLIDATED FINANCIAL STATEMENTS AND PARENT COMPANY FINANCIAL STATEMENTS // NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AND PARENT COMPANY FINANCIAL STATEMENTS
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Financial risks and financial instruments
Given its operations, investments and financing, the Gabriel Group is exposed to a number of financial risks, including market
(currency, interest rates and raw materials), credit and liquidity. Gabriel’s policy is not to engage in active speculation on financial
risks. The Group’s financial management thus covers only the management and reduction of the financial risks arising directly from
its operations, investments and financing.
The Group has a finance policy covering currency, investing, financing and credit policy relative to the Group’s financial partners.
The policy also describes approved financial instruments and risk limits.
The Group occasionally hedges currency risks, considering projected future cash flows and projected future exchange rate movements, and decides whether each transaction qualifies for hedge accounting. The majority of sales in Europe, America and China
are settled in the customer’s functional currency, while EUR are primarily used for settlement with other international customers.
Currency risks generated by income thus primarily concern USD and RMB but, as most income is invoiced in the Scandinavian currencies or EUR and net income and cost items are equalled out as far as possible, the risk is judged to be relatively limited. The Group’s
most important purchases are settled in DKK, EUR or USD.
Management monitors the Group’s risk concentration broken down by customers, geographical areas, currencies etc. Management
also monitors whether the Group’s risks are correlated, and whether its risk concentration has undergone any changes.
The Group’s risk exposure and risk management have remained essentially unchanged since 2023/24.
The Group’s categories of financial assets and liabilities are given below:
Currency risk
The Group’s foreign exchange positions in Danish kroner were as follows at 30 September 2025:
DISCONTINUED OPERATIONS
Currency (tDKK)
DKK
EUR
SEK
NOK
GBP
USD
PLN
RMB
MXN
Other
Abroad
The fair value of financial assets and liabilities is in line with the carrying amounts.
-
57,759
-23,642
CONTINUING OPERATIONS
Cash and
cash equivalents/
trade receivables
1,731
39,725
4,280
502
9,977
20,007
232
12,905
1,061
88,689
Bank loans/
trade payables/
credit institutions
-262,997
-52,998
-631
-161
-25,603
-24,044
-6,384
6
-109,815
The Group’s foreign exchange positions in Danish kroner were as follows at 30 September 2024:
DISCONTINUED OPERATIONS
CARRYING AMOUNT
tDKK
Receivables
Cash and cash equivalents
Financial assets measured at amortised cost (for total operations)
of which for continuing operations
Amounts owed to credit institutions
Financial lease liabilities
Trade payables
Amounts owed to joint venture
Other payables
Financial liabilities measured at amortised cost (for total operations)
of which for continuing operations
Bank loans/
trade payables/
credit institutions
-14,676
-3,115
-5,851
Cash and
cash equivalents/
trade receivables
52,180
3,161
2,418
2024/25
112,274
63,568
175,842
107,093
296,782
86,514
43,778
3,257
39,117
469,448
402,202
2023/24
129,357
38,466
167,823
104,868
350,441
63,524
53,258
4,056
32,687
503,967
441,580
Currency (tDKK)
DKK
EUR
SEK
NOK
GBP
USD
PLN
RMB
MXN
Other
Abroad
Cash and
cash equivalents/
trade receivables
42,708
3,688
3,206
49,602
Bank loans/
trade payables/
credit institutions
-19,911
-5,972
-7,676
-33,559
CONTINUING OPERATIONS
Cash and
cash equivalents/
trade receivables
494
41,788
2,917
220
8,411
15,102
30
14,006
949
83,423
Bank loans/
trade payables/
credit institutions
-313,376
-64,517
-95
-90
-2,676
-21,620
-9,427
-163
-98,588
The Group did not use forward exchange transactions in 2023/24 and 2024/25.
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