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Liquidity risk

Liquidity risk means that the Group may not have liquid funds to fulfil its financial obligations in a timely manner.

The objective of the Group is to maintain a balance between the financial needs and financial possibilities of the Group. Cash flow planning is used as a means to manage the liquidity risk. To manage liquidity risk as effectively as possible, the bank accounts of the Parent Company and its subsidiaries comprise one group account (cash pool) which enables the members of the group account to use the finances of the Group within the limit established by the Parent Company. The group account operates in Estonia, but foreign subsidiaries in Latvia and Lithuania are also part thereof. According to the policy of the Group, all subsidiaries and joint ventures prepare long term cash flow projections for the following year, which are adjusted on a quarterly basis. For monitoring short-term cash flows the subsidiaries prepare thirteen-week cash flow projections on a weekly basis.

To manage the liquidity risk, the Group uses different financing sources which include bank loans, overdraft, continuous monitoring of trade receivables and delivery contracts.

Overdraft credit is used to finance working capital, long-term bank loans and lease agreements are used to make capital expenditures to acquire non-current assets. The Group’s overdraft loan is long-term and related to the term of the loan contract. This essentially works as a long-term line of credit, the use of which the Group can regulate at its own discretion.

Analysis of undiscounted financial liabilities (principal and future interest payments) by payment term

31.12.2021 (EUR thousand)<= 1 month> 1 month and <=3 months> 3 months and <= 1 yea>1 year and <=5 years>5 yearsTotalCarrying amount
Bank loans1583151 41110 148012 03211 350
Notes003001 2005 3006 8005 000
Lease payments1402801 2074 45206 0795 869
Trade payables2 7751240002 8992 899
Other payables3 5400060104 1414 141
TOTAL6 6137192 91816 4015 30031 95129 259

31.12.2020 (EUR thousand)<= 1 month> 1 month and <=3 months> 3 months and <= 1 year>1 year and <=5 years>5 yearsTotalCarrying amount
Bank loans2364681 99410 232012 93012 545
Notes003001 2005 6007 1005 000
Lease payments1152389503 57604 8794 657
Trade payables2 134942002 2302 230
Other payables1 860002 02503 8853 885
TOTAL4 3458003 24617 0335 60031 02428 317

AS Ekspress Grupp
Parda 6, Tallinn
10151, Estonia

Contact:
+372 669 8381
egrupp@egrupp.ee

Kasutame oma veebilehel küpsiseid. Küpsistest saad loobuda, muutes veebilehitseja privaatsusseadeid. NÕUSTUN
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