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17. Trade and other receivables

in thousand EUR   2019   2018
Trade receivables, third parties   5 232   6 663
Trade receivables, associates   48   5
Allowance for expected credit losses   –785   –914
Total trade receivables net   4 495   5 754
Other short-term receivables   6 283   5 830
Total trade and other receivables net   10 778   11 584

The carrying amounts of the receivables approximate to their fair values. Other receivables mainly contain credit balances from governments, therefore the expected credit loss is 0.

Allowance for expected credit losses
in thousand EUR   2019   2018
At 1 January   914   899
Increase allowance for expected credit losses   –62   112
Decrease allowance for expected credit losses   –56   –6
Currency effects   –11   –91
At 31 December   785   914

The exposure to credit risk is covered with the impairment for expected credit losses under IFRS 9 on trade receivables. It contains collectively assessed positions (Lifetime ECL), using the simplified approach, as well as individually assessed positions (12 month ECL).

Taking into consideration the terms and conditions established with customers, the following table sets forth details of the age of trade receivables:

in thousand EUR   Expected
credit loss
default rate
  2019
  2018
Not overdue   0.5–0.6%   3 787   1 172
Less than 30 days overdue   0.5–0.6%   899   3 430
31 to 60 days overdue   1.7–2.0%   138   1 507
61 to 180 days overdue   10.0%   161   317
More than 180 days overdue   15.0%   295   242
Total trade receivables gross       5 280   6 668
Allowance for expected credit losses       –785   –914
Total trade receivables net       4 495   5 754

The standard payment terms for trade receivables are in most instances Cash Against Documents (CAD) or Letter of Credit (L/C). The trade receivables are not interest-bearing, and the Group considers them to be credit impaired when internal or external information give cause for serious concern to receive the outstanding amount. The credit ratings for the lifetime ECL base on the aging buckets of the trade receivables.

Accounting policies

Trade accounts receivable are recognized initially at fair value and subsequently measured at amortized cost less allowances. The allowances base on the simplified approach of full lifetime expected credit losses as defined by the impairment model of IFRS 9. To calculate these allowances the trade accounts receivables are clustered into ageing buckets and each of these buckets weighted with a certain percentage. Doubtful accounts are assessed individually to analyze if a significant increase in credit risk occurred and an individual impairment is needed. Indications for such impairments are substantial financial problems on the part of the customer, a declaration of bankruptcy, or a significant delay in payment occurring.