5.6Determinationoffairvalueandnancialrisks
Financial risks
AREAOFRISK Descriptionofrisk Risk management measures Exposure










































Credit risk








ITEM Note 31/12/2018 31/12/2017
 7  
   
   
   
Total 103,165,580 89,671,677


table below.
Operatingreceivables(currentandnon-current)bymaturity

ITEM 31/12/2018 31/12/2017
Index
2018/2017
   
   
- up to 30 days 1,723,720 1,849,900 93
- from 31 to 60 days 1,438,089 526,850 273
- from 61 to 90 days 2,371,381 101,128 2,345
- from 91 to 180 days 1,135,492 229,054 496
- from 181 to 365 days 992,635 1,745,169 57
- more than 365 days 2,057,207 2,101,932 98
Total 43,193,250 40,490,345 107


Operatingreceivables(currentandnon-current)bymaturity–domestic

ITEM 31/12/2018 31/12/2017
Index
2018/2017
   
   
- up to 30 days 1,505,321 1,548,084 93
- from 31 to 60 days 311,854 195,471 273
- from 61 to 90 days 79,023 90,018 2,345
- from 91 to 180 days 281,740 81,603 496
- from 181 to 365 days 87,523 201,155 57
- more than 365 days 1,968,872 1,992,887 98
Total 36,485,353 35,464,431 107
Operatingreceivables(currentandnon-current)bymaturity–foreign

ITEM 31/12/2018 31/12/2017
Index
2018/2017
   
   
- up to 30 days 218,399 301,817 93
- from 31 to 60 days 1,126,235 331,379 273
- from 61 to 90 days 2,292,358 11,110 2,345
- from 91 to 180 days 853,752 147,451 496
- from 181 to 365 days 905,112 1,544,014 57
- more than 365 days 88,334 109,047 98
Total 6,803,853 5,112,144 107












Currencyrisk





ITEM 31/12/2018 EUR USD SDR* CHF
  
   
   
  
     
Total 40,471,479 37,061,983 24,872 3,385,856 -1,232



ITEM 31/12/2017 EUR USD SDR* CHF
  
    
   
  
     
Total 42,453,214 39,696,244 23,519 2,733,750 -299


Interest-raterisk





ITEM 31/12/2018 31/12/2017
Financialinstrumentsatxedinterestrates
  
  
62,211,021 36,120,009
Financialinstrumentsatvariableinterestrates
  
447,900 600,000
Total 62,658,921 36,720,009
Solvencyrisk







ITEM
Carrying
amount as at
31 December
2018
Total
contractual
cashows
From 0 to 6
months
From 6 to 12
months
From1to5
years
Morethan5
years


   


  
    





  
Total 33,237,392 33,532,636 18,067,977 1,167,644 9,985,914 4,311,101
Determinationoffairvalue




Investmentproperty


Othernon-currentnancialassets


Financial liabilities


Tradeandotherreceivables


Fairvalue

2018 2017
ITEM Carryingamount Fairvalue Carryingamount Fairvalue
    
    
  
    
  
    
    
    
    
    
    
Total 63,864,104 63,864,104 65,369,887 65,369,887
Fairvalueofassets

2018 2017
ITEM Level1 Level2 Level3 Level1 Level2 Level3
Assetsmeasuredatfairvalue
    
44,844 - 15,510,056 42,772 - 15,510,056
Assetsforwhichfairvalueisdisclosed
 
  
 
  
  
- - 87,610,680 - - 74,118,849
Total 44,844 - 103,120,736 42,772 - 89,628,905
Fairvalueofinvestmentproperty

2018 2017
ITEM Level1 Level2 Level3 Level1 Level2 Level3
Assetsforwhichfairvalueisdisclosed
  
Total - - 7,837,725 - - 7,363,845
Fairvalueofliabilities

2018 2017
ITEM Level1 Level2 Level3 Level1 Level2 Level3
Liabilitiesforwhichfairvalueisdisclosed
  
  
  
  
Total - - 47,139,201 - - 31,665,635

Level1–

Level2–

Level3–



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