The revaluation of foreign currency receivables and payables at the exchange rates prevailing at 31 December, taking account of hedging instruments, led to the recognition of the following translation adjustments:
| non-inclus | Assets | Liabilities | ||||
|---|---|---|---|---|---|---|
| € millions | 31.12.2023 | 31.12.2022 | 31.12.2021 | 31.12.2023 | 31.12.2022 | 31.12.2021 |
| Financial receivables | 0.2 | 8.9 | - | - | - | - |
| Trade accounts receivable | 18.5 | 6.6 | 1.9 | 0.2 | 0.3 | 0.1 |
| Liabilities | - | - | - | - | 8.9 | - |
| Suppliers | - | - | 0.1 | - | - | - |
| Derivative financial instruments | 26.7 | 44.1 | 186.2 | 62.4 | 68.6 | 18.4 |
| TOTAL | 45.4 | 59.6 | 188.2 | 62.6 | 77.8 | 18.5 |
The overall foreign exchange position, calculated on a currency-per-currency basis at 31 December 2023, is an unrealised loss of €35.0 million recorded as a provision for unrealised foreign exchange losses (see note 17).
At 31 December 2022, the overall foreign exchange position was an unrealised loss of €16.0 million, compared with an unrealised loss of €176.4 million at 31 December 2021.
Foreign exchange derivative financial instruments can be broken down as follows:
| non-inclus | Notional | Market value | ||||
|---|---|---|---|---|---|---|
| € millions | 31.12.2023 | 31.12.2022 | 31.12.2021 | 31.12.2023 | 31.12.2022 | 31.12.2021 |
| Currency futures | ||||||
| Purchase of EURO against foreign currencies | ||||||
| EUR/AUD | 23.6 | 22.6 | 19.6 | -0.4 | 0.3 | -0.4 |
| EUR/BRL | 189.5 | 159.3 | 106.8 | -5.1 | -0.9 | -1.8 |
| EUR/CAD | 19.1 | 16.9 | 16.6 | -0.1 | 0.9 | -0.5 |
| EUR/CLP | 12.3 | 11.0 | 8.2 | 0.5 | -0.8 | 0.8 |
| EUR/CNY | 1,686.5 | 1,697.0 | 1,455.3 | 44.8 | 17.9 | -130.9 |
| EUR/CZK | 12.2 | 11.0 | 8.0 | 0.1 | -0.5 | -0.2 |
| EUR/DKK | 20.9 | 19.9 | 15.9 | 0.0 | 0.0 | 0.0 |
| EUR/GBP | 56.9 | 43.9 | 44.2 | -0.6 | 0.5 | -1.0 |
| EUR/IDR | 60.9 | 52.2 | 45.4 | 1.1 | 2.4 | -3.7 |
| EUR/INR | 13.7 | 33.5 | 26.7 | 0.0 | 1.6 | -1.6 |
| EUR/KRW | 74.2 | 73.2 | 61.3 | -0.5 | -1.5 | -0.7 |
| EUR/PEN | 24.1 | 17.3 | 11.0 | 0.4 | -0.2 | -0.7 |
| EUR/PHP | 10.9 | 7.3 | 7.1 | -0.1 | 0.1 | -0.3 |
| EUR/PLN | 22.3 | 0.0 | 0.0 | -1.2 | 0.0 | 0.0 |
| EUR/RSD | 10.4 | 8.9 | 10.0 | -0.1 | -0.5 | -0.1 |
| EUR/RUB | 0.0 | 4.7 | 276.3 | 0.0 | -1.0 | -10.2 |
| EUR/THB | 69.2 | 62.0 | 51.8 | 0.0 | -0.8 | -0.7 |
| EUR/TWD | 69.6 | 59.1 | 55.2 | 0.3 | 2.7 | -1.4 |
| EUR/USD | 0.0 | 157.3 | 162.4 | 0.0 | 0.0 | -7.8 |
| EUR/ZAR | 39.0 | 28.4 | 20.7 | -1.0 | 0.2 | 0.2 |
| EUR/Other currencies | 19.9 | 23.2 | 32.8 | -2.2 | 0.2 | -0.8 |
