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MEDIASET ESPAÑA COMUNICACIÓN, S.A.
Balance
31/12/09
Additions
Disposals
Balance
31/12/10
Equity instruments
4,260
-
(3,658)
602
Impairment losses
(1,896)
(71)
1,816
(151)
Uncalled share capital
(451)
-
-
(451)
Total equity instruments
1,913
(71)
(1,842)
-
Main changes in the year ended 31 December 2010
Sale of the ownership interest in Alba Adriática,S.L. and Kulteperalia, S.L.
Under the agreement signed on 8 November 2010, Gestevisión Telecinco, S.A. sold its 5% ownership interest in each
of the companies, Alba Adriática, S.L. and Kulteperalia, S.L. to Gecaguma, S.L. As a result of this transaction, Gestevisión
Telecinco, S.A. received EUR 1,500 thousand in respect of Alba Adriática, S.L. and EUR 500 thousand in respect of
Kulteperalia, S.L.
c) Derivatives
The Company uses derivatives to hedge its risks against foreign-currency fluctuations on the purchase of audiovisual
proper ty rights made in the year. It also hedges against foreign currency risk on commercial transactions with customers,
and these transactions were recognised in the Company’s balance sheet of financial position.
The breakdown of the notional values of the derivatives outstanding in the Company at 31 December 2011 is as follows:
USD Amount
ASSETS
Notional value/Maturity
Within 1 year
Dollars
Year-end rate (€ /$)
rate (€ /$)
Fair value
Unmatured foreign-currency purchases:
Purchases of dollars against euros
32,649
44,877
1,2939
2,112
Sales of dollars against euros
-
-
-
-
Net balance
32,649
44,877
1,2939
2,112
The notional amounts of the financial derivatives outstanding at the Company at 31 December 2010 are as follows:
USD Amount
ASSETS
Notional value/Maturity
Within 1 year
Dollars
Year-end rate (€/$)
rate (€/$)
Fair value
Unmatured foreign-currency purchases:
Purchases of dollars against euros
9,899
13,643
1,3362
332
Sales of dollars against euros
-
-
-
-
Net balance
9,899
13,643
1,3362
332
Foreign currency hedges on rights contracts are measured as the difference between the present value of the foreign
currency hedge at the forward rate for the contract and the value of the foreign exchange hedge at the year-end
exchange rate.