Management Report 2020
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Management Report 2020
The following is a breakdown of the currency and interest rate swap transaction:
Hedge instrument
Swap of R$ 25MM (Assets VC/ Liabilities CDI+Pré)
Swap of R$ 150MM (Assets VC/ Liabilities CDI+Pré)
Swap of R$ 60MM (Assets VC/ Liabilities CDI+Pré)
Swap of R$ 24.5MM (Assets VC/ Liabilities
CDI+Pré)
Counterparty
Itaú
Itaú
Rabobank
Rabobank
Rabobank
Bradesco
Bradesco
Santander
Rabobank
Rabobank
Rabobank
Rabobank
Rabobank
Swap of R$ 17.5MM (Assets VC/Liabilities CDI+Pré)
Swap of R$ 8MM (Assets VC/ Liabilities CDI+Pré)
Swap of R$ 200MM (Assets VC/ Liabilities CDI+Pré)
Swap of R$ 240MM (Assets VC/ Liabilities CDI+Pré)
Swap of R$ 240MM (Assets VC/ Liabilities CDI+Pré)
Swap of R$ 30MM (Assets VC/ Liabilities CDI+Pré)
Swap of R$ 15MM (Assets VC/ Liabilities CDI+Pré)
Swap of R$ 5MM (Assets VC/ Liabilities CDI+Pré)
Swap of R$ 17.5MM (Assets VC/ Liabilities
CDI+Pré)
Hedged object
Debit of USD 6.7MM interest of 4.37% yy
Debit of EUR 31.7MM interest of 0.95% yy
Debit of EUR 11MM interest of 1.25% yy
Debit of EUR 4.3MM interest of 1.55% yy
Debit of EUR 1,3MM interest of 2.05% yy
Debit of R$ 200 MM interest of 6.28% yy
Debit of R$ 240MM interest IPCA of 3.67% yy
Debit of R$ 240MM interest IPCA of 3.67% yy
Debit of EUR 6.9MM interest of 1.11% yy
Debit of EUR 2.7MM interest of 1.45% yy
Debit of EUR 1.15MM interest of 1.11% yy
Debit of EUR 3.8MM interest of 0.81% yy
Debit of EUR 3.8MM interest of 0.81% yy
SLC
Agrícola
MTM
Financial income
Shareholder's equity
10,056
51,751
9,705
351
51,616
135
8,654
8,763
(109)
2,299
2,345
F
401
402
6,993
13,610
2,993
6,617
2,535
458
2,535
2,997
462
2,535
12,511
12,277
234
1,697
1,725
(28)
2,085
2,046
39
6,370
6,339
31
6,370
6,339
31
121,794
109,094
12,700
Risk of variations in interest rates
In order to verify the sensitivity of the indexes on the Company's debt, based on the position as of December 31, 2020, 5 different scenarios were defined. Based on the
FOCUS report (Bacen) of December 24, 2020 we have defined the key figures for CDI. Foreign Exchange and IPCA. Based on this information we defined the Probable
Scenario for the analysis and from this we calculated the variations of 25% and 50%. For each scenario, the financial expense or gross financial revenue was considered,
not considering the incidence of taxes and the flow of maturities of debts and redemptions of financial investments scheduled for 2021. The base date for the portfolio
was December 31, 2020, projecting the indexers for one year and checking their sensitivity in each scenario.
The following is a summary of the impacts over the next 12 months in each scenario
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