R&D and Innovation in Energy Efficient Products
May 2020
فرا
-1.1%
-2.5%-2.1%-2.0%
-4.1%
-5.7%
16 Q1
16 Q2
16 Q3
16 Q4
17 Q1
17 Q2
-3.7%
0.4%
-1.2%
-5.1%
17 Q3
17 Q4
I Net FX Position
18 Q3
18 Q4
Net FX/Equity
19 Q1
3.9%
19 Q2
19 Q3
19 Q4
20 Q1
FX Risk Management
FX POSITION - CONSOLIDATED
Before
Hedged
Net
(TRYmn)
Hedge
Position
Position
EUR
-1.2%
USD
Arçelik A. 1,330
1,269
-61
290
-480
-191
-1.2%
-3.6%
-2.4%
-20%
-30%
GBP
625
-632
-7
Other
788
-846
-58
TOTAL
373
-690
-318
Net FX Position/Equity
• FX hedging is a strictly pursued policy in Arçelik since more than 30 currencies
are actively managed in global operations.
• It is a KPI for the company management not to have an FX exposure
exceeding low single-digit % of equity.
• The primary strategy is on balance sheet hedging mainly
through cash, receivables, payables and financial
liabilities, and the remaining part is hedged through
financial derivatives.
Arçelik
-3.2%View entire presentation