Nabaltec_E_GB2016

OTHER DISCLOSURES 99 An interest rate derivative with effect on profit and loss, which was recognized on 31 December 2015 with a negative market value of EUR –98 thousand, was reversed as planned in Financial Year 2016, resulting in income of EUR 98 thousand. There were no major changes relative to the year before to the risk positions for the risks presented below. Default risk Default risks arise primarily from trade receivables. Factoring transactions are used in order to minimize default risks. Under these contractual arrangements, the risk that the debtor will be unable to pay is transferred to the counterparty, with the exception of a security deposit. As a result, the relevant amounts are derecognized in their entirety and are no longer recog- nized as trade receivables. The exceptions are trade receivable which are not accepted by the factor, e.g. because a credit limit has been exceeded. Trade receivables are also insured through credit default swaps. The amounts recognized in the balance sheet have been adjusted by the allowance for unrecoverable claims, which was estimated by management based on past experience and the current economic environment. Individual allowances are made whenever an indication exists that accounts receivable are uncollectible. These indications are based on intensive contacts within the framework of receivables management. The default risk in the event of counterparty default in connection with the Group’s assets, such as trade receivables, cash and cash equivalents and other assets, is no higher than the book value of the relevant instruments. There is no major concentration of default risks within the Group, as these risks are spread out over a large number of counterparties and customers. As in the previous year, there were no restrictions on ownership or disposal. The table below shows the change in allowances on trade receivables: in TEUR 1/1/ Transfers Reversals 12/31/ 2016 163 5 0 168 2015 134 29 0 163 S T N E M E T A T S L A I C N A N I F D E T A D I L O S N O C Annual Report 2016 | Nabaltec AG ||||

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