Key figures

The following table presents the gross and net amounts as of December 31, 2024, and 2023, of financial instruments that have been offset or that are subject to an enforceable global netting arrangement or similar agreement but have not been netted:

           

Offsetting of financial instruments

       

T148

Gross amounts of  financial assets / financial liabilities

Gross amounts of financial assets / financial liabilities offset in the Statement of Financial Position

Net amounts recognized in the Statement of Financial Position

Amounts that are not offset in the Statement of Financial Position

Net amount

Financial instruments

         
         

4,986

 

4,986

-746

5,732

161,240

1,806

159,434

 

159,434

7,190

 

7,190

 

7,190

127,130

 

127,130

 

127,130

300,546

1,806

298,740

-746

299,486

         

400,526

 

400,526

 

400,526

755

 

755

-746

1,501

144,642

1,806

142,836

 

142,836

12,572

 

12,572

 

12,572

558,495

1,806

556,689

-746

557,435

         
         

4,973

 

4,973

43

4,930

188,956

4,449

184,507

 

184,507

3,223

 

3,223

 

3,223

165,207

 

165,207

 

165,207

362,359

4,449

357,910

43

357,867

         

458,744

 

458,744

 

458,744

544

 

544

43

501

178,108

4,449

173,659

 

173,659

8,724

 

8,724

 

8,724

646,120

4,449

641,671

43

641,628

 

(a) Offsetting arrangements

NORMA Group grants volume-based discounts to its customers. According to the terms of the supply agreements and the applicable GTC, these amounts are offset against the trade receivables payable to NORMA Group from these customers and only the respective net amounts are settled. The respective amounts are thus shown as net amounts in NORMA Group’s Consolidated Statement of Financial Position.

 

(b) Master netting arrangements – not currently enforceable

NORMA Group enters into derivative transactions in accordance with the global netting agreements (master agreement) of the International Swaps and Derivatives Association (ISDA) and other corresponding national master agreements (“German Master Agreement,” for example). These agreements do not meet the criteria for offsetting as they only grant the right to offset in the event of future events, such as the default or insolvency of the Group or counterparties. The TABLE T148: OFFSETTING OF FINANCIAL INSTRUMENTS shows the possible financial impacts of offsetting in accordance with the existing global netting agreements.

Legend

These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.