ÖBB Annual Report 2023

285 Consolidated Financial Statements Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 67 Foreign currencies were hedged as follows: 2023 2022 Currency-sensitive financial instruments in USD million in USD million Trade receivables 5.8 9.0 Other financial assets 102.5 100.2 Trade payables -6.4 -8.0 Other financial liabilities -95.5 -95.5 Net exchange rate risk 6.4 5.7 Sensitivity analysis for interest rate risk The result in the reporting year would have been approx. EUR 1.0 million (py: approx. EUR 2.0 million) higher or lower if the euro had appreciated or depreciated by 10% against the US dollar. 29.2.c. Credit risk Counterparty credit risk describes the potential loss from failure by financial partners to honour their financial commitments (primarily money market transactions, investments, positive present value derivatives). Compliance with the limits underlying the counterparty credit risk management system that are individually assigned to each financial partner are checked daily. ÖBB Group conducts business only with financial partners with a defined rating and objective risk classification by the capital market. The ÖBB Group has instituted a counterparty risk management system in which limit determination and allocation are primarily based on the evaluation of credit default swap data from the financial partners. This ensures the Group’s ability to respond rapidly to any changes in the capital markets’ risk assessment financial partner. The applicable limits and their utilisation are monitored daily in order to ensure timely, risk-focused response to market disruptions. The financial assets of the ÖBB Group mainly comprise cash and cash equivalents, trade receivables as well as receivables from finance leases and securities. These items represent the maximum loss exposure of the ÖBB Group by the default risk with respect to the financial assets. In an extreme case, this credit risk then accounts for the equivalent value of all assets less property, plant and equipment, intangible assets, shares in associated companies, inventories and other receivables that are not financial instruments. The credit risk is composed as follows: Credit risk from financial instruments in EUR million Gross exposure (carrying amount plus impairments) less collateral (FV) Net exposure Total exposure 2023 Financial assets 348.3 0.0 348.3 Trade receivables 789.7 -42.0 747.7 Other receivables and assets 521.6 -0.2 521.4 Cash and cash equivalents 593.2 -0.8 592.4 Risk current and non-current assets 2,252.8 -43.0 2,209.8 Other contingent liabilities 17.7 0.0 17.7 Credit risk from issued guarantees 17.7 0.0 17.7 Total credit risk as of Dec 31, 2023 2,270.5 -43.0 2,227.5 Total exposure 2022 Financial assets 736.2 0.0 736.2 Trade receivables 625.5 -3.1 622.4 Other receivables and assets 161.7 0.0 161.7 Cash and cash equivalents 198.4 0.0 198.4 Risk current and non-current assets 1,721.8 -3.1 1,718.7 Other contingent liabilities 23.7 0.0 23.7 Credit risk from issued guarantees 23.7 0.0 23.7 Total credit risk as of Dec 31, 2022 1,745.5 -3.1 1,742.4