The Group classifies in this category receivables and securities that it expects to hold to maturity,
\n
meaning that it receives payments of interest and principal from such assets on specified due
\n
dates. Assets at amortised cost are classified in the statement of financial position under
\n
\"Financial assets at amortised cost\" and presented as current or non-current assets depending
\n
on whether their contractual maturity is less or more than twelve months from the reporting
\n
date.
\n
These assets are reported at amortised cost and written down if any impairment is identified.
\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForHeldtomaturityInvestmentsExplanatory",
"language": "en",
"entity": "scheme:529900X0H1IO3RS1A464",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"Fxbrl_20230307141937572": {
"value": "(b)Financial assets at fair value through profit or loss (FVPL)\n
\n \n
\n
Financial assets at fair value through profit or loss are measured at fair value, with gains and
\n
losses from changes in fair value reported in the income statement under \"Finance income\" and
\n
\"Finance costs\", in the period in which they arise.
\n
\n \n
\n \n
\n
\u00a0
\n \n
\n
Interest rate derivatives
\n
Interest rate derivatives not designated as hedging instruments are recognised at fair value
\n
through profit or loss. The related income and expenses are classified in finance income and
\n
\n \n
\u00a0
\n
\n costs.When the derivative matures, the related reserve is recycled toprofit or loss as finance income and costs.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
"language": "en",
"entity": "scheme:529900X0H1IO3RS1A464",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"Fxbrl_20230307152236475": {
"value": "(b)Financial assets at fair value through profit or loss (FVPL)\n
\n
Financial assets at fair value through profit or loss are measured at fair value, with gains and
\n
losses from changes in fair value reported in the income statement under \"Finance income\" and
\n
\"Finance costs\", in the period in which they arise.
\n
\n \n
\n
Interest rate derivatives
\n
Interest rate derivatives not designated as hedging instruments are recognised at fair value
\n
through profit or loss. The related income and expenses are classified in finance income and
\n
\n costs.When the derivative matures, the related reserve is recycled toprofit or loss as finance income and costs.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
"language": "en",
"entity": "scheme:529900X0H1IO3RS1A464",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"Fxbrl_20230307153113515": {
"value": "c)Financial assets at fair value through other comprehensive income (FVOCI)Interest fromfinancial assets classified at fair value through OCI is recognised in finance income.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
"language": "en",
"entity": "scheme:529900X0H1IO3RS1A464",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"Fxbrl_20230307134817527": {
"value": "\n
\n
\u00a0
\n \n
\n
\u00a0
\n \n
\n
38.6 DERIVATIVES
\n
Metal derivatives
\n
Metal derivatives not designated as hedging instruments are recognised at fair value through
\n
profit or loss. The related income and expenses are classified in operating income and
\n
expenses. They are recognised as current assets or liabilities in the statement of financial
\n
position if they mature within twelve months, otherwise they are classified as non-current assets
\n
or liabilities.
\n
\u00a0
\n \n
\n
The Group has designated certain derivatives denominated in EUR, GBP, USD and RMB entered
\n
into with brokers and aimed at mitigating the risk of copper and aluminium price fluctuations,
\n
as cash flow hedges, being hedging instruments associated with highly probable transactions.
\n
In addition, as of 2022, the Group has designated certain EUR-denominated derivatives, entered
\n
into with brokers and aimed at mitigating the risk of lead price fluctuations in relation to specific
\n
sales orders, as cash flow hedges, being hedging instruments associated with highly probable
\n
transactions. All derivatives designated as cash flow hedges are recognised at fair value through
\n
equity, and therefore designated as hedging instruments. These derivative financial instruments,
\n
which qualify for recognition as hedging instruments, are designed to hedge the price risk of
\n
commodities that are the subject of highly probable future purchase transactions (hedged
\n
items). A derivative that sets the commodity's purchase price is designated as a hedging
\n
instrument, since it relates to a physical commodity purchase that will be made. When the
\n
physical purchase is made, the Group unwinds the buy derivatives with sell derivatives. The
\n
effectiveness of the hedging relationships is assessed from the inception of each derivative
\n
instrument until it is closed out. The fair values of the various derivative financial instruments
\n
used as hedging instruments and movements in the \"Cash flow hedge reserve\" forming part of
\n
equity are presented in Note 8. Derivatives.
\n
\n \n
\u00a0
\n
\u00a0
\n \n
\n
\u00a0
\n \n
\n
Interest rate derivatives
\n
Interest rate derivatives not designated as hedging instruments are recognised at fair value
\n
through profit or loss. The related income and expenses are classified in finance income and
\n
\n \n
\u00a0
\n
\n \n
\u00a0
\n
costs. They are recognised as current assets or liabilities in the statement of financial position if
\n
they mature within twelve months, otherwise they are classified as non-current assets or
\n
liabilities.
\n
Interest rate derivatives designated as hedging instruments are recognised at fair value through
\n
other comprehensive income. When the derivative matures, the related reserve is recycled to
\n
profit or loss as finance income and costs.
\n
\n \n
\u00a0
\n
\n \n
\u00a0
\n
\n \n
\n
\u00a0
\n \n
\n \n
\n
The relationship between the hedged item and the designated interest rate hedge must be
\n
documented. The effectiveness of each hedge is reviewed both at the derivative's inception and
\n
during its life cycle. In particular, interest rate derivatives designated as hedging instruments
\n
are intended to hedge the risk of cash flow volatility linked to finance costs originating from
\n
variable rate debt.
\n
\n \n
Currency derivatives
\n
Currency derivatives not designated as hedging instruments are recognised at fair value through
\n
profit or loss. The related income and expenses are classified in finance income and costs. They
\n
are recognised as current assets or liabilities in the statement of financial position if they mature
\n
within twelve months, otherwise they are classified as non-current assets or liabilities.
\n
Currency derivatives designated as hedging instruments are recognised at fair value through
\n
other comprehensive income. When the derivative matures, the related reserve is recycled to
\n
profit or loss.
\n
The relationship between the hedged item and the designated currency hedge must be
\n
documented. The effectiveness of each hedge is reviewed both at the derivative's inception and
\n
during its life cycle. In particular, currency derivatives designated as hedging instruments are
\n
intended to hedge exchange rate risk on contracts or orders. These hedging relationships aim to
\n
reduce cash flow volatility due to exchange rate fluctuations affecting future transactions. In
\n
particular, the hedged item is the value in the company's unit of account of a cash flow expressed
\n
in another currency that is expected to be received/paid under a contract or an order whose
\n
amount exceeds the minimum thresholds set by the Group: all cash flows thus identified are
\n
therefore designated as hedged items in the hedging relationship. The reserve originating from
\n
changes in the fair value of derivative instruments is transferred to profit or loss according to
\n
the stage of completion of the contract itself, where it is classified as contract revenue/costs.