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MEDIASET ESPAÑA COMUNICACIÓN, S.A.
8.3. Risk management policy
The Company’s operations are exposed to different basic categories of financial risk:
1. Credit risk
Credit risk exists when a potential loss may arise from the Company’s counterparty not meeting its contractual obligations,
i.e., the possibility that financial assets will not be recovered at their carrying amount within the established timeframe.
The Company’s maximum exposure to credit risk at December 31, 2015 and 2014 was as follows:
Thousands of euros
2015
2014
Non-current loans to Group companies and associates
25,777
56,671
Non-current financial investments
844
1,271
Trade and other receivables
216,518
204,590
Current loans to Group companies and associates
65,635
43,211
Current financial investments
948
1,257
Cash and cash equivalents
162,451
232,301
472,173
539,301
For the purposes of credit risk management the Company differentiates between financial assets arising from operations
and those arising from investments.
Operating activities
Most of the balance of trade payables consists of operations with Group companies that, therefore, do not present a risk.
The breakdown of trade receivables (Group and third parties) at December 31, 2015 and 2014 was as follows:
2015
2014
Number of
customers
Thousands of
euros
Number of
customers
Thousands
of euros
With a balance of more than 1,000 thousand euros
2
209,430
2
198,344
With a balance between 1,000 and 500 thousand euros
2
1,271
1
634
With a balance between 500 and 200 thousand euros
5
1,304
10
3,302
With a balance between 200 and 100 thousand euros
12
1,718
8
1,123
With a balance of less than 100 thousand euros
172
2,258
145
1,077
Total
193
215,981
166
204,480
The Company constantly monitors the age of its debt, and there were no risk situations at year end.