Annual Report 2018
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12. Financial liabilities
The carrying amount of financial liabilities corresponds approximately to their fair value.
Net book value of financial liabilities
| in thousand EUR | 2018 | 2017 | ||
|---|---|---|---|---|
| Financial liabilities from borrowings | 35 340 | 31 381 | ||
| Financial liabilities finance-lease | 1 900 | 2 038 | ||
| Total financial liabilities | 37 240 | 33 419 | ||
| Total current financial liabilities | 12 316 | 9 699 | ||
| Non-current financial liabilities, third parties | 24 891 | 23 613 | ||
| Non-current financial liabilities, associates | 33 | 107 | ||
| Total financial liabilities | 37 240 | 33 419 | ||
Interest expenditure from finance-lease liabilities amounted to EUR 0.1 million (2017: EUR 0.2 million). Finance-lease liabilities are secured effectively as the rights to the leased asset revert to the lessor in the event of a breach of contract.
The carrying amounts of financial liabilities are denominated in the following currencies. The amounts are translated into EUR at the exchange rate of the reporting date.
| in thousand EUR | 2018 | 2017 | ||
|---|---|---|---|---|
| Currencies financial liabilities/borrowings denominated in: | ||||
| EUR | 3 000 | 3 000 | ||
| XAF | 6 343 | 6 266 | ||
| CHF | 25 870 | 22 649 | ||
| BRL | 2 027 | 1 504 | ||
| Total financial liabilities | 37 240 | 33 419 |
The effective interest rates at the reporting date by currency were as follows:
| 2018 | 2017 | |||
|---|---|---|---|---|
| EUR | 4.2% | 4.2% | ||
| XAF | 8.5–11.0% | 8.5–11.0% | ||
| CHF | 6.0% | 6.0% | ||
| BRL | 6.5% | 7.2% |
The changes in liabilities from financing activities are detailed below in cash and non-cash items:
| in thousand EUR | Non-current financial liabilities |
Current financial liabilities |
Short-term convertible loans |
Total |
||||
|---|---|---|---|---|---|---|---|---|
| At 1 January 2017 | 19 895 | 11 544 | 457 | 31 896 | ||||
| Cashflows | ||||||||
| Cash inflow | 4 485 | – | – | 4 485 | ||||
| Cash outflow | –913 | –2 517 | –18 | –3 447 | ||||
| Non-cash changes | ||||||||
| Reclassifications | –1 261 | 1 271 | –432 | –423 | ||||
| Increase in long-term finance lease liabilities | 1 198 | 1 198 | ||||||
| Accrued interests | 1 847 | – | 9 | 1 856 | ||||
| Currency effects | –1 532 | –599 | –16 | –2 146 | ||||
| At 31 December 2017 | 23 720 | 9 699 | – | 33 419 | ||||
| Cashflows | ||||||||
| Cash inflow | 1 686 | 2 990 | – | 4 676 | ||||
| Cash outflow | –876 | –1 801 | – | –2 677 | ||||
| Non-cash changes | ||||||||
| Reclassifications | –1 229 | 1 229 | – | – | ||||
| Increase in finance lease liabilities | 1 082 | 1 082 | ||||||
| Accrued interests | – | – | – | – | ||||
| Currency effects | 541 | 199 | – | 740 | ||||
| At 31 December 2018 | 24 924 | 12 316 | – | 37 240 | ||||