Derivatives 2022
Nominal value
Fair value
Fair value through other comprehensive income
Fair value through profit and loss
Derivative liabilities
EUR million
Derivative assets
Fair value net
Interest rate swaps
100.0 100.0
3.1 3.1
3.1 3.1
3.1 3.1
Interest rate derivatives
Currency forward contracts Currency option contracts
1,790.1
31.3
25.0
6.3 2.1 8.4
1.4
4.9 2.1 7.0
281.3
2.2
0.1
Currency derivatives
2,071.4
33.5
25.2
1.4
Oil derivatives
27.5 32.7 60.2
0.5 6.2 6.7
3.9 1.2 5.0
-3.3
-3.3
Natural gas and propane derivatives
5.0
2.1 2.1 3.5
2.9
Commodity derivatives
1.7
-0.4
Derivatives total
2,231.5
43.4
30.2
13.2
9.7
Derivatives 2021
Nominal value
Fair value
Fair value through other comprehensive income
Fair value through profit and loss
Derivative liabilities
EUR million
Derivative assets
Fair value net
Interest rate swaps
100.0 100.0
0.0 0.0
1.7 1.7
-1.7 -1.7
0.0 0.0
-1.7 -1.7
Interest rate derivatives
Currency forward contracts
1,066.9 1,066.9
2.0 2.0
18.5 18.5
-16.5 -16.5
-0.2 -0.2
-16.3 -16.3
Currency derivatives
Electricity derivatives
4.4 17.1
4.9 3.7
0.0 0.0 0.1 0.1
4.9 3.7
4.9 3.7
Oil derivatives
Natural gas and propane derivatives
14.6 36.1
23.5 32.0 34.0
23.4 31.9 13.7
23.4 31.9 13.9
Commodity derivatives
Derivatives total
1,203.0
20.3
-0.2
Changes in the value of hedge accounting and the effects on profit or loss are presented in Note 5.1 Equity.
Economic effect of the net settlement of instruments under master netting agreements executed
2022
2021
Assets and liabilities related to master netting agreements
Assets and liabilities related to master netting agreements
Financial derivatives on-balance sheet
Financial derivatives on-balance sheet
Net risk
Net risk
Derivative assets Derivative liabilities
43.4
43.4
34.0 -20.3
34.0 -20.3
-30.2
-30.2
Master netting agreements are used for derivative contracts entered into by the Group and its counterparties. In the event of unlikely credit events, all valid transactions based on the agreement will be cancelled, and only one net sum will be payable by each counterparty for all the transactions. The items are not netted on the balance sheet.
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Consolidated financial statements | METSÄ BOARD ANNUAL AND SUSTAINABILITY REPORT 2022
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