Hedging of foreign exchange transaction exposure 31.12.2022
Annual transaction exposure
EUR million
USD
GBP
SEK
AUD
CAD Other long Other short
Total
Transaction exposure, net (mill. currency units) Transaction exposure, net (EUR million) Transaction exposure hedging (EUR million) Hedging at the end of the year (months)
1,069 1,003 -698
96
-5,941
33 23
108 -69
-534 462 10.4
9 0
0 0
1,676 -1,242
-12 6.6 5.5
8.4 8.0
7.7 7.8
8.9 8.5
Average hedging in 2022 (months)
9.8
Average rate of hedging at the end of the year
1.0403
0.8709
10.7134
Hedging of foreign exchange transaction exposure 31.12.2021
Annual transaction exposure
EUR million
USD 920
GBP
SEK
AUD
CAD Other long Other short
Total
Transaction exposure, net (mill. currency units) Transaction exposure, net (EUR million) Transaction exposure hedging (EUR million) Hedging at the end of the year (months)
80 95
-5,296
11
37 26
812
-517 400
7 0
3 0
0 0
1,460 -980
-520
-59
0
7.7
7.5 7.6
9.3
0.0 1.3
0.0 1.0
8.1 7.9
Average hedging in 2021 (months)
6.9
10.0
Average rate of hedging at the end of the year
1.1655
0.8550
10.2117
Net investments in a foreign entity 31.12.2022
Equity exposure
EUR million
USD
GBP
SEK
Others
Total
Equity exposure (mill. currency units)
109 103
3 4
7,769
Equity exposure (EUR million)
699
3
808
Net investments in a foreign entity 31.12.2021
Equity exposure
EUR million
USD
GBP
SEK
Others
Total
Equity exposure (mill. currency units)
112 99
8
5,892
Equity exposure (EUR million)
10
575
3
685
Interest rate risk / duration and re-pricing structure of loans (incl. interest rate derivatives) 31.12.2022
31 Dec 2022 Re-pricing structure of interest rates of loans
Loan amount (EUR million)
Average interest rate (%)
Interest rate sensitivity 1) (EUR million)
Duration (months)
1–4/2023
5–8/2023
9–12/2023
2024
2025
2026
>2026
453
36.1
2.2
-2.3
54
8
2
14
63
14
299
Interest rate risk / duration and re-pricing structure of loans (incl. interest rate derivatives) 31.12.2021
31 Dec 2021 Re-pricing structure of interest rates of loans
Loan amount (EUR million)
Average interest rate (%)
Interest rate sensitivity 1) (EUR million)
Duration (months)
1–4/2022
5–8/2022
9–12/2022
2023
2024
2025
>2025
449
45.3
2.3
-5.0
-97
9
157
76
35
84
377
1) Interest rate sensitivity is an estimate of the effect of an interest rate change of one percent in one direction on net interest cost based on year end exposure
Hedging of electricity price risk exposure
GWh
31 Dec 22
31 Dec 21
Electricity exposure, net
288
555 135
Electricity hedging
Hedging at the end of the year (%)
24
Average price of hedging at the end of the year (e/MWh)
32.07
Electricity price risk is hedged based on defined risk management policy by physical contracts or by financial contracts. The net electricity exposure has been calculated by taking into account the own and associated companies´ electricity production. The company abandoned electricity hedging and the hedging derivatives matured in 2022.
125
Consolidated financial statements | METSÄ BOARD ANNUAL AND SUSTAINABILITY REPORT 2022
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