Page 187 - MEDIASET ESPAÑA / 2013. Financial Statements, Management and Corporate Governance Report

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MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
NOTES TOTHE CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER 31, 2013
(Expressed in thousand of euros)
22.4.6. Sensitivity analysis and estimates of the impact of changes in exchange rates on the
separate income statement
The financial instruments exposed to euros/$ exchange-rate risk, mainly consisting of future currency-purchase
agreements, have undergone a sensitivity test at the statement of financial position date.
The exposed statement of financial position value of these financial instruments was corrected by applying a symmetrical
percentage change, equal to the 1-year implicit volatility of the currency in question published by Reuters (2013: 8.3650%
and 2012: 9.1675%), to the year-end exchange rate.
The sensitivity test shows that the variations on the year-end exchange rate would have had an impact on the Separate
income statement account that, in any event, is not significant.
Analysis of accounts payables to suppliers in foreign currency:
12/31/13 12/31/12
$ Exc. Rate Differences $ Exc. Rate Differences
31,312 1.3791 -777 34,050 1.3194 -417
Sensitivity test
31,312 1.2637 1,293 34,050 1.1984 2,153
31,312 1.4945 -2,528 34,050 1.4404 -2,544
Analysis of derivatives on purchases from suppliers in foreign currencies:
12/31/13 12/31/12
$ Exc. Rate Differences $ Exc. Rate Differences
36,168 1.3791 889 38,536 1.3194 455
Sensitivity analysis
36,168 1.2637 -1,505 38,536 1.1984 -2,493
36,168 1.4945 2,914 38,536 1.4404 2,909