61
Disclosure of financial liabilities by maturity date, December 31, 2016
Total
amount
Less than
1 year
Between
1 and 2
years
Between
2 and 5
years
More than
5 years
Non-current liabilities
Financial liabilities
Liabilities to banks and credit institutions 2,857 478 - 1,888 491
Other non-current liabilities 250 - - - 250
Total non-current liabilities 3,107 478 - 1,888 741
Interest on liabilities to banks and credit institutions 483 16 - 416 51
Total non-current liabilities and interest 3,590 494 - 2,304 792
Current liabilities
Financial liabilities
Liabilities to banks and credit institutions 217 217 - - -
Accounts payables 3,258 3,258 - - -
Derivative financial instruments 724 724 - - -
Accrued expenses 899 899 - - -
Other current liabilities 200 200 - - -
Total current liabilities 5,298 5,298 - - -
Interest on liabilities to banks and credit institutions 1 1 - - -
Total current liabilities and interest 5,299 5,299 - - -
Unused credit facilities available to the Group at the 2016 year-end
Total amount
Less than
1 year
Between
1 and 2 years
Between
2 and 5 years
More than
5 years
Unused credit facilities 3,665 277 - 3,388 -
The Group’s cash and cash equivalents of SEK 480 million, available credit facilities of SEK 4,209 million and future cash
generated by the business are together deemed sufficient for the Group to meet its financial commitments.
Credit risk
The Company is exposed to credit risk primarily in relation to accounts receivables and customer contracts. Risk in the latter case
is represented by customers’ failure to meet their commitments due to changes in market prices.
Generally, AAK’s credit risks are significantly limited due to the stable, long-term business relationships we have with our
customers and suppliers.
The customer structure for the Group is such that its single-largest customer is responsible for less than 5 percent of its total
sales, and the average customer corresponds to less than 1 percent.
Nearly a quarter of the Group’s sales occur in countries where the political and commercial risks are deemed to be higher
WKDQLQ:HVWHUQHFRQRPLHV+RZHYHUZHHSHULHQFHRQO\DOLPLWHGQHHGIRULPSDLUPHQWVHYHQLQWKHVHFRXQWULHV7KLVLVODUJHO\
due to the fact that a significant portion of our business in these countries is with large multinational companies that also do
business worldwide. The partners with whom we do business are also primarily companies with which we have stable, long-term
relationships.
Each business segment is responsible for managing its customer credit risks, while our large production facilities are
responsible for managing their counterparty risk in relation to raw material procurement.
Provisions for doubtful accounts receivables
2017 2016
Provisions at January 1 32 25
Provisions for potential losses 14 9
Reversed amount that is not recoverable. -2 -
Unused amount reversed -1 -2
Exchange differences -2 0
Provisions at December 31 41 32
Provisions for impairments are entirely related to accounts receivables. Total accounts receivables excluding provisions were
SEK 3.251 million (3.059).
Past due assets not considered impaired
SEK million 2017 2016
1–30 days 437 398
31–120 days 97 68
121–360 days 12 17
Over 360 days 2 0
548 483