(2)Comparative figures for the year ended December 31, 2019 were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Note 1 of the interim consolidated financial statements.
(3)Previously presented under level 2.
The fair value of the Company’s investments in the bond funds and note receivable was determined based on the unit prices quoted by the fund management company.
The fair value of long-term debt was determined using discounted cash flow models based on the relevant forward interest rate yield curves, considering the credit risk of voxeljet.
Due to their short maturity and the current low level of interest rates, the carrying amounts of cash and cash equivalents, restricted cash, trade receivables, trade payables, credit lines and bank overdrafts approximate fair value.
The group’s policy is to recognise transfers into and transfers out of fair value hierarchy levels as at the end of the reporting period.
In June 2020, there were no transfers of financial instruments measured at fair value between level 1 and level 2.
8. Financial result
|
|
Three months ended June 30, |
||
|
|
2020 |
|
2019 |
|
|
(€ in thousands) |
||
Interest expense |
|
(1,316) |
|
(306) |
Interest expense on lease liability |
|
(43) |
|
(52) |
Long-term debt |
|
(290) |
|
(249) |
Expense from revaluation of derivative financial instruments |
|
(983) |
|
-- |
Fair value valuation of financial assets (1) |
|
-- |
|
-- |
Other |
|
-- |
|
(5) |
Interest income |
|
144 |
|
621 |
Payout of bond funds |
|
12 |
|
17 |
Income from revaluation of derivative financial instruments (2) |
|
-- |
|
566 |
Fair value valuation of financial assets (1) |
|
124 |
|
34 |
Other |
|
8 |
|
4 |
Financial result |
|
(1,172) |
|
315 |
|
|
|
|
|
|
|
|
Six months ended June 30, |
||
|
|
|
2020 |
|
2019 |
|
|
|
(€ in thousands) |
||
| Interest expense |
|
(822) |
|
(623) |
| Interest expense on lease liability |
|
(91) |
|
(95) |
| Long-term debt (2) |
|
(609) |
|
(491) |
| Fair value valuation of financial assets (1) |
|
(120) |
|
(15) |
| Other |
|
(2) |
|
(22) |
| Interest income |
|
631 |
|
278 |
| Payout of bond funds |
|
45 |
|
72 |
| Income from revaluation of derivative financial instruments (2) |
|
574 |
|
58 |
| Fair value valuation of financial assets (1) |
|
-- |
|
140 |
| Other |
|
12 |
|
8 |
| Financial result |
|
(191) |
|
(345) |
