Investor Presentaiton
En+
GROUP
En+ Group Annual Report 2021
STRATEGIC REPORT
EN+ GROUP IPJSC
Notes to the Consolidated Financial Statements
for the year ended 31 December 2021
The following table demonstrates the sensitivity to cash flows from interest rate risk arising from floating
rate non-derivative instruments held by the Group at the reporting date in respect of a reasonably possible
change in interest rates, with all other variables held constant. The impact on the Group's profit before
taxation and equity and retained profits/accumulated losses is estimated as an annualised input on interest
expense or income of such a change in interest rates. The analysis has been performed on the same basis for
all years presented.
Increase/
decrease in
basis points
Effect on profit
before taxation
for the year
USD million
Effect on equity
USD million
Non-current assets
Derivative financial assets
Trade and other receivables
Cash and cash equivalents
EN+ GROUP IPJSC
Notes to the Consolidated Financial Statements
for the year ended 31 December 2021
USD-denominated
vs. RUB functional
RUB-denominated
vs. USD functional
EUR-denominated
currency
currency
31 December
31 December
2021
2020
2021
2020
38
vs. USD functional
currency
31 December
2021
2020
2021
1
Denominated in other
currencies vs. USD
functional currency
31 December
2020
31
2
1
821
582
184
64
1
428
508
81
104
69
50
31
25
Loans and borrowings
(314)
(549)
(1,433)
(19)
Provisions
(84)
(78)
(21)
(27)
(18)
(12)
for the year
Derivative financial liabilities
(16)
(32)
USD million
Income tax
(24)
(2)
(1)
(6)
Non-current liabilities
(1)
(1)
(6)
Short-term bonds
(1)
(1)
(80)
80
(64)
Trade and other payables
(1,080)
(404)
(104)
(49)
(135)
(88)
64
Net exposure arising from
recognised assets and liabilities
(312)
(468)
(830)
115
81
(35)
(50)
FINANCIAL STATEMENTS
As at 31 December 2021
Basis percentage points
Basis percentage points
As at 31 December 2020
Basis percentage points
Basis percentage points
(iii) Foreign currency risk
+100
-100
+100
-100
(96)
96
(77)
77
The Group is exposed to currency risk on sales, purchases and borrowings that are denominated in a currency
other than the respective functional currencies of group entities, primarily USD but also the Russian Rouble,
Ukrainian Hryvna and Euros. The currencies in which these transactions primarily are denominated are RUB,
USD and EUR.
Borrowings are primarily denominated in currencies that match the cash flows generated by the underlying
operations of the Group, primarily USD but also RUB and EUR. This provides an economic hedge.
In respect of other monetary assets and liabilities denominated in foreign currencies, the Group ensures that
its net exposure is kept to an acceptable level by buying or selling foreign currencies at spot rates when
necessary to address short-term imbalances or entering into currency swap arrangements.
The Group's exposure at the reporting date to foreign currency risk arising from recognised assets and
liabilities denominated in a currency other than the functional currency of the entity to which they relate is
set out in the table below. Differences resulting from the translation of the financial statements of foreign
operations into the Group's presentation currency are ignored.
202
CORPORATE GOVERNANCE
FINANCIAL STATEMENTS
Appendices
203View entire presentation