FINANCIAL REPORT 2015

2.5.2. MARKET RISK Management of these financial risk positions is centralised at the Foreign exchange Cash Department in CACEIS Bank Luxembourg.

2.5.2.1. Derivative instruments : analysis by remaining maturity 2.5.2.1.1. Hedging derivative instruments – fair value of assets

31.12.2014 Restated (1)

31.12.2015

(in thousands of euros)

Total market value

Total market value

Exchange-traded

Over-the-counter

≤ 1 year

> 1 year ≤ 5 years

> 5 years

> 1 year ≤ 5 years

> 5 yearsw

≤ 1 year

INTEREST RATE INSTRUMENTS : . Interest rate swaps

0

0

0 9 450 9 450 0 9 450

0 8 730 8 730

18 180 18 180

407 407 407

TOTAL

0

0

0 8 730 18 180

(1) Restated amounts compared with the financial statements published in 2014, following the application of IFRIC 21

2.5.2.1.2. Hedging derivative instruments – fair value of liabilities

31.12.2014 Restated (1)

31.12.2015

(in thousands of euros)

Total market value

Total market value

Exchange-traded

Over-the-counter

> 1 year ≤ 5 years

> 5 years

> 1 year ≤ 5 years

> 5 years

≤ 1 year

≤ 1 year

INTEREST RATE INSTRUMENTS : . Interest rate swaps

0

0

0 13 067 13 067

76 550 76 550

9 950 9 950

99 567 99 567

106 315 106 315

TOTAL

13 067 76 550 9 950 99 567 106 315

(1) Restated amounts compared with the financial statements published in 2014, following the application of IFRIC 21

2.5.2.1.3. Derivative instruments held for trading – fair value of assets

31.12.2014 Restated (1)

31.12.2015

(in thousands of euros)

Total market value

Total market value

Exchange-traded

Over-the-counter

> 5 years

> 5 years

≤ 1 year > 1 year ≤ 5 years

≤ 1 year > 1 year ≤ 5 years

0

0 0

0

0

INTEREST RATE INSTRUMENTS : . Interest rate swaps

0

0

0

CURRENCY AND GOLD : . Currency options

0

0

0

0

0 0

0

0

OTHER : . Commodities derivatives

0

0

0

7 7 7

0 0

7 7 7

0

SUBTOTAL

0

0

0

0 0

0

. Forward currency transactions

338 191

844

339 035 504 884

TOTAL

0

0

0 338 198

844

0 339 042 504 884

(1) Restated amounts compared with the financial statements published in 2014, following the application of IFRIC 21

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