Investor Presentaiton
Investor presentation
First three months of 2017
Currency impact in 2017 driven by development in both
hedged and unhedged currencies
Slide 17
USD/DKK
-
CNY/DKK
JPY/DKK
GBP/DKK
CAD/DKK
Hedged currencies
Index (1 Jan 2015= 100)
80
140
Hedged
2016
Currencies average
2017
average²
Spot
rate²
Impact of a
5% move³ (months)
Hedging
130
120
110
100
90-
USD1
677
698
680
2,100
12
CNY1
104
101
98.6
320
74
JPY1
5.88
6.10
6.10
200
GBP1
969
865
880
90
CAD1
493
528
499
80
221
12
12
11
80
RUB/DKK
INR/DKK -ARS/DKK
BRL/DKK
TRY/DKK
140
120
Non-hedged currencies
Index (1 Jan 2015 = 100)
100
80
60
40
changing
diabetes®
1
2
3
4
2016
1
2017
Non-hedged
2016
2017
Spot
Currencies
average
average²
rate²
ARS1
0.5
0.4
0.4
TRY1
229.8
229.8
191.8
INR1
10.0
10.4
10.6
RUB1
9.1
11.9
12.0
BRL¹
173.4
221.1
213.7
1 DKK per 100; 2 As of 28 April 2017; 3 Operating profit in DKK million per annum; 4 Chinese Yuan
traded offshore (CNH)
Note: Operating profit impact of one of the non-hedged currencies appreciating 5% is in the range
of DKK -15 to +40 million
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