DSV Annual Report 2022
105
DSV Annual Report 2022 Parent Company financial statements 2022
= III
21. Derivative financial instruments
DSV A/S has obtained long-term loans mainly on a fixed rate basis, imply-
ing that DSV A/S is less exposed to interest rate fluctuations.
DSV A/S mainly uses interest rate swaps to hedge future cash flows relat-
ing to interest rate risks. Thereby, floating-rate loans are converted to
fixed-rate financing.
At the balance sheet date, DSV A/S no longer have any interest rate
swaps. The weighted average effective interest rate for existing interest
rate instruments used as hedges of long-term loans was therefore 0% at
the reporting date (2021: 0.8%).
For 2022 a gain on hedging instruments of DKK 208 million was recog-
nised in the income statement (2021: loss of DKK 51 million). In the same
period, a gain of DKK 810 million was recognised relating to assets and
liabilities (2021: loss of DKK 5 million). For more information on foreign
currency and interest rate risk hedging, refer to notes 4.4 and 4.5 to the
consolidated financial statements.
22. Financial risks
Financial risks of the Parent Company are handled within the risk manage-
ment processes and framework of the Group. Please refer to note 4.4 to
the consolidated financial statements.
The liabilities of DSV A/S fall due as listed in the adjacent table.
The analysis of expected maturity is based on contractual cash flows,
including estimated interest payments. No amounts have been discount-
ed, for which reason they cannot necessarily be reconciled to the related
items of the balance sheet.
2022
Hedging instruments
(DKKm)
Contractual value
Currency instruments
Total
16,736
Maturity
2023-2025
Fair value
Of which recog-
nised in income
statement
Of which
recognised
in OCI
82
16,736
82
86
86
(4)
(4)
(DKKm)
Currency instruments
Interest rate instruments
Total
Loan and credit facilities
(DKKm)
Loans, credit facilities and issued bonds
Other payables
Payables to Group entities
Currency derivatives
Interest rate derivatives
Total
2021
Of which recog-
Contractual value
26,137
744
Maturity
2022
2022
Fair value
nised in income
statement
Of which
recognised
in OCI
(26)
(27)
1
(7)
(7)
26,881
(33)
(27)
(6)
2022
2021
Total cash
flows, incl.
Total cash
flows, incl.
0-1 year
1-5 years
> 5 years
interest
0-1 year
1-5 years
> 5 years
interest
186
5,852
17,024
964
34,901
80
2
23,062
964
34,901
82
11,805
736
18,359
26
3
1,952
16,230
29,987
736
18,359
26
6
9
36,131
5,854 17,024 59,009
30,929
1,958
16,230
49,117View entire presentation