Page 106 - Paragon Annual Report 2

102 | Group financial statements
Notes to the consolidated financial statements (continued) 25 Financial risk management (continued)
Interest rate risk
The Group carries a cash flow risk on that part of borrowings held at floating rates. The Group is not subject to fair value interest rate risk as the majority of debt is held at floating rates.
An analysis of financial assets and liabilities exposed to interest rate risk is set out below:
Financial assets subject to interest rate risk
Euro 19,894 Sterling 5,525 US Dollar 166 Romania Leu 47 Norwegian Krone 360 Swedish Krona 127 Polish Zloty 53 Czech Koruna 74 Australian Dollar 69 Canadian Dollar – China RMB –
26,315
The Group’s financial assets comprise cash and cash equivalents, all of which attract interest at floating rates based upon EURIBOR, LIBOR or equivalent measures.
2017
€000
28,342
12,924
389
1,084
47
443
118
16
334
106
1
2016
€000
43,804
Financial liabilities subject to interest rate risk
Euro bank borrowings Sterling bank borrowings Norwegian bank borrowings Czech bank borrowings
27,861 8,307 2,169 2,816
41,153
2017
2016
€000
93,153
9,999
2,387
106,522
983
€000
The Group’s financial liabilities comprise loan borrowings which bear interest at floating rates based upon EURIBOR and LIBOR, and overdraft borrowings which bear interest at floating rates based upon EURIBOR and EONIA.
Paragon Group Limited – 05258175