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Fair Value Hierarchy
 12 Months Ended
Dec. 31, 2021
Disclosure Of Fair Value Measurement [Line Items]  
Fair Value Hierarchy
31.
Fair value hierarchy

The following tables show financial instruments recognized at fair value for the years ended December 31, 2021 and 2020, analyzed between those whose fair value is based on:

•
Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities.
•
Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly.
•
Level 3: techniques which use inputs which have a significant. effect on the recorded fair value that are not based upon observable market data.

The table also includes financial instruments measured at amortized cost. The Group understands that the book value of such instruments approximates their fair value.

 

31 December 2021

 

FVPL

 

 

Amortized
cost

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial Assets at Fair Value through Profit or Loss

 

 

1,004

 

 

 

—

 

 

 

1,004

 

 

 

1,004

 

 

 

—

 

 

 

—

 

Other Assets

 

 

—

 

 

 

1,339

 

 

 

1,339

 

 

 

—

 

 

 

—

 

 

 

—

 

Trade and Other Receivables

 

 

—

 

 

 

190,966

 

 

 

190,966

 

 

 

—

 

 

 

—

 

 

 

—

 

Cash and Cash Equivalents

 

 

—

 

 

 

336,197

 

 

 

336,197

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

1,004

 

 

 

528,502

 

 

 

529,506

 

 

 

1,004

 

 

 

—

 

 

 

—

 

 

31 December 2020

 

FVPL

 

 

Amortized
cost

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial Assets at Fair Value through

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit or Loss

 

 

8,319

 

 

 

—

 

 

 

8,319

 

 

 

8,319

 

 

 

—

 

 

 

—

 

Other Assets

 

 

—

 

 

 

2,017

 

 

 

2,017

 

 

 

—

 

 

 

—

 

 

 

—

 

Trade and Other Receivables

 

 

—

 

 

 

72,785

 

 

 

72,785

 

 

 

—

 

 

 

—

 

 

 

—

 

Cash and Cash Equivalents

 

 

—

 

 

 

111,733

 

 

 

111,733

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

8,319

 

 

 

186,535

 

 

 

194,854

 

 

 

8,319

 

 

 

—

 

 

 

—

 

 

31 December 2021

 

FVPL

 

 

Amortized
cost

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade and Other Payables

 

 

—

 

 

 

(277,160

)

 

 

(277,160

)

 

 

—

 

 

 

—

 

 

 

—

 

Financial liabilities

 

 

—

 

 

 

(5,014

)

 

 

(5,014

)

 

 

—

 

 

 

—

 

 

 

—

 

Derivative financial instruments

 

 

(221

)

 

 

—

 

 

 

(221

)

 

 

—

 

 

 

(221

)

 

 

—

 

Contingent consideration liability

 

 

(665

)

 

 

 

 

 

(665

)

 

 

—

 

 

 

—

 

 

 

(665

)

 

 

 

(886

)

 

 

(282,174

)

 

 

(283,060

)

 

 

—

 

 

 

(221

)

 

 

(665

)

 

31 December 2020

 

FVPL

 

 

Amortized
cost

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade and Other Payables

 

 

—

 

 

 

(142,865

)

 

 

(142,865

)

 

 

—

 

 

 

—

 

 

 

—

 

Derivative financial instruments

 

 

(2,896

)

 

 

—

 

 

 

(2,896

)

 

 

—

 

 

 

(2,896

)

 

 

—

 

 

 

 

(2,896

)

 

 

(142,865

)

 

 

(145,761

)

 

 

—

 

 

 

(2,896

)

 

 

—

 

 

Level 3 Financial Instruments

 

As of December 31, 2021, the Group has recognized a contingent consideration liability, described in Note 20, amounting to USD 665, classified in Level 3. The amount of the Level 3 contingent consideration was calculated by the finance team of the Group, using a discounted cash flow analysis, considering the expected cash flows based on terms of the contract, the entity’s knowledge of the business and how the current conditions are likely to impact it.

 

There were no changes in level 3 items for the years ended December 31, 2021 and 2020. Also, there were no transfer of items between level 2 and level 3, acquisitions, disposals nor gains or losses recognized in profit for the period related to level 3 instruments.