112 / 158
The maximum credit risk as at the balance sheet date, without taking into account the aforementioned financial
risk coverage policy and instruments consists of the carrying amounts of the financial assets as stated below:
31 DECEMBER
2016
2015
Financial instruments available for sale
115,379
-
Non-current receivables
1,061
5,915
Trade receivables
274,429
379,910
Amounts due from joint ventures and associated companies
22,647
17,237
Other receivables and prepayments
300,852
330,420
Derivatives
80,804
55,934
Income tax receivable
7,495
9,893
Cash and cash equivalents
965,331
793,720
1,767,998
1,593,029
The maximum credit risk on trade debtors by operational segment was as follows as at the reporting date:
31 DECEMBER
2016
2015
Dredging & Inland Infra
165,498
232,773
Offshore Energy
104,045
139,566
Towage & Salvage
4,279
5,904
Holding & Eliminations
607
1,667
274,429
379,910
The aging of trade debtors as at 31 December was as follows:
2016
2015
Gross
Impairment
Gross
Impairment
Not past due
184,286
-
227,092
-
Past due 0 - 90 days
44,723
- 4,175
51,095
- 979
Past due 90 - 180 days
3,354
- 177
46,943
- 132
Past due 180 - 360 days
17,951
- 4,726
33,180
- 1,754
More than 360 days
44,844
- 11,651
41,160
- 16,695
295,158
- 20,729
399,470
- 19,560
Impairment
- 20,729
- 19,560
Trade receivables at book value
274,429
379,910
With respect to the receivables that are neither impaired nor past due, there were no indications as at the
reporting date that these will not be settled.
The movement in the allowance for impairment in respect of trade debtors during the year was as follows:
2016
2015
Balance as at 1 January
19,560
18,568
Acquired through business combinations
299
-
Reclassified to disposal group
- 14
-
Provisions made during the year
11,185
4,190
Provisions used during the year
- 8,395
- 2,109
Provisions released during the year
- 935
- 962
Currency exchange rate differences
- 971
- 127
1,169
992
Balance as at 31 December
20,729
19,560
Concentration of credit risk of customers
As at reporting date there was no concentration of credit risk with certain customers.
112
ANNUAL REPORT 2016 – BOSKALIS
FINANCIAL STATEMENTS 2016