Moncler Group | Annual Report 2024 Separate Financial Statements 452 |
7. Information about f inancial risks
The Company's f inancial instruments include cash and cash
e
quivalents, loans, receivables and trade payables
a
nd other current receivables and payables and non-current
assets as well as derivatives.
The Company is mostly exposed to interest rate risk,
liquidity risk and capital risk.
Market risk
Exchange rate risk
The Company operated mostly with companies in euros
and,
as such, the exposure to exchange rate risk is limited.
As at 31 December 2024, a small portion of the Company’s assets
and liabilities (i.e. trade receivables and payables) were
denominated in a currency dif ferent from its functional currency.
Interest rate risk
The Company’s exposure to interest rate risk during 2024
is connected mostly to changes in interest rates relate
to outstanding loans.
As at 31 December 2024 the Company had no bank loans
and therefore there were no interest rate hedges, consequently
any changes in interest rates at the year-end date would
not have signif icant ef fects on the result of the year.
The Company is not exposed to changes in currency
interest rates.
Credit risk
The Company has no signif icant concentrations of credit risk
with companies that are not part of the Group. The maximum
ex
posure to credit risk is represented by the amount reported
in the f inancial statements.
As far as the credit risk arising from other f inancial
assets (including cash, short-term bank deposits and some f inancial
derivative instruments) is concerned, the credit risk for
the Company arises from default of the counterparty with
a maximum exposure equal to the carrying amount
of f inancial assets recorded in the f inancial statements
Liquidity risk
Liquidity risk arises from the ability to obtain f inancial resources
at a sustainable cost in order for the Group to conduct its daily
business operations. The factors that inf luence this risk are related
to the resources generated/absorbed by operating activities,
by investing and f inancing activities and by availability of funds
in the f inancial market.
Management believes that the f inancial resources available
today, along with those that are generated by the current
operations will enable the Company to achieve its objectives
and to meet its investment needs and the repayment of its debt
at the agreed upon maturity date.
Operating and capital management risks
In the management of operating risk, the Company’s main
objective is to manage the risks associated with the development
of business in foreign markets that are subject to specif ic
laws and regulations.
The Group has implemented guidelines in the following areas:
•appropriate level of segregation of duties;
•reconciliation and constant monitoring
of signif icant transactions;
•documentation of controls and procedures;
•technical and professional training of employees;
•periodic assessment of corporate risks
and identif ication of corrective actions.
As far as the capital management risk is concerned,
the Company's objectives are aimed at the going concern issue
in order to ensure a fair economic return to shareholders
and other stakeholders while maintaining a good rating
in the capital debt market. The Company manages its capital
structure and makes adjustments in line with changes in general
economic conditions and with the strategic objectives.
.
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