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Financial instruments by category (Tables)
 12 Months Ended
Jun. 30, 2019
Financial Instruments By Category [Abstract]  
Schedule of financial assets and financial liabilities

   Financial assets at amortized cost (i)   Financial assets at fair value through profit or loss   Subtotal financial assets   Non-financial assets   Total 
       Level 1   Level 2   Level 3             
June 30, 2019                            
Assets as per Statement of Financial Position                            
Trade and other receivables (excluding the allowance for doubtful accounts and other receivables)   28,988    -    -    -    28,988    7,782    36,770 
Investments in financial assets:                                   
  - Public companies' securities   -    957    138    28    1,123    -    1,123 
  - Private companies' securities   -    -    -    1,826    1,826    -    1,826 
  - Deposits   3,664    36    -    -    3,700    -    3,700 
  - Bonds   -    16,728    1,062    998    18,788    -    18,788 
  - Investments in financial assets with quotation   -    9,234    436    -    9,670    -    9,670 
Derivative financial instruments:                                   
  - Foreign-currency future contracts   -    -    29    -    29    -    29 
  - Others   -    -    12    95    107    -    107 
Restricted assets (ii)   7,460    -    -    -    7,460    -    7,460 
Financial assets held for sale:                                   
  - Clal   -    15,839    -    -    15,839    -    15,839 
Cash and cash equivalents:                                   
  - Cash at bank and on hand   6,726    -    -    -    6,726    -    6,726 
  - Short-term investments   52,387    1,369    -    -    53,756    -    53,756 
Total assets   99,225    44,163    1,677    2,947    148,012    7,782    155,794 

 

   Financial liabilities at amortized cost (i)   Financial liabilities at fair value through profit or loss   Subtotal financial liabilities   Non-financial liabilities   Total 
       Level 1   Level 2   Level 3             
June 30, 2019                            
Liabilities as per Statement of Financial Position                            
Trade and other payables   14,768    -    -    -    14,768    5,546    20,314 
Borrowings (excluding finance leases)   312,512    -    -    -    312,512    -    312,512 
Derivative financial instruments:                                   
  - Swaps   -    -    134    -    134    -    134 
  - Others   -    -    871    48    919    -    919 
Total liabilities   327,280    -    1,005    48    328,333    5,546    333,879 

 

(i)The fair value of financial assets and liabilities at their amortized cost does not differ significantly from their book value, except for borrowings (Note 19).
(ii)Corresponds to deposits in guarantee and escrows.

 

Financial assets and financial liabilities as of June 30, 2018 were as follows:

 

   Financial assets at amortized cost (i)   Financial assets at fair value through profit or loss   Subtotal financial assets   Non-financial assets   Total 
       Level 1   Level 2   Level 3             
June 30, 2018                            
Assets as per Statements of Financial Position                            
Trade and other receivables (excluding the allowance for doubtful accounts and other receivables)   29,024    -    -    -    29,024    8,156    37,180 
Investments in financial assets:                                   
  - Public companies' securities   -    1,282    -    210    1,492    -    1,492 
  - Private companies' securities   -    -    -    1,817    1,817    -    1,817 
  - Deposits   2,172    37    -    -    2,209    -    2,209 
  - Bonds   16    21,669    786    1,234    23,705    -    23,705 
  - Investments in financial assets with quotation   -    13,102    -    -    13,102    -    13,102 
Derivative financial instruments:                                   
  - Foreign-currency future contracts   -    -    110    -    110    -    110 
  - Others   -    -    25    -    25    -    25 
Restricted assets (ii)   9,784    -    -    -    9,784    -    9,784 
Financial assets held for sale:                                   
  - Clal   -    19,064    -    -    19,064    -    19,064 
Cash and cash equivalents:                                   
  - Cash at bank and on hand   10,037    -    -    -    10,037    -    10,037 
  - Short term investments   44,080    3,938    -    -    48,018    -    48,018 
Total assets   95,113    59,092    921    3,261    158,387    8,156    166,543 

 

   Financial liabilities at amortized cost (i)   Financial liabilities at fair value through profit or loss   Subtotal financial liabilities   Non-financial liabilities   Total 
       Level 1   Level 2   Level 3             
June 30, 2018                            
Liabilities as per Statement of Financial Position                            
Trade and other payables   16,280    -    -    -    16,280    12,271    28,551 
Borrowings (excluding finance leases)   321,438    -    -    -    321,438    -    321,438 
Derivative financial instruments:                                   
  - Foreign-currency future contracts   -    -    12    -    12    -    12 
  - Swaps   -    -    73    -    73    -    73 
  - Others   -    13    -    36    49    -    49 
  - Forwards   -    -    185    -    185    -    185 
Total liabilities   337,718    13    270    36    338,037    12,271    350,308 

 

(i)The fair value of financial assets and liabilities at their amortized cost does not differ significantly from their book value, except for borrowings (Note 19).
(ii)Corresponds to deposits in guarantee and escrows.
Schedule of book value of financial instruments recognized

The following are details of the book value of financial instruments recognized, which were offset in the statements of financial position: 

   As of June 30, 2019   As of June 30, 2018 
   Gross amounts recognized   Gross amounts offset   Net amount presented   Gross amounts recognized   Gross amounts offset   Net amount presented 
Financial assets                        
Trade and other receivables (excluding the allowance for doubtful accounts and other receivables)   30,501    (1,513)   28,988    30,379    (1,355)   29,024 
Financial liabilities                              
Trade and other payables   16,281    (1,513)   14,768    17,635    (1,355)   16,280 
Schedule of income, expense, gains and losses on financial instruments

Income, expense, gains and losses on financial instruments can be assigned to the following categories:

 

   Financial assets / liabilities at amortized cost   Financial assets / liabilities at fair value through profit or loss   Total 
June 30, 2019            
Interest income   854    -    854 
Interest expense   (15,549)   -    (15,549)
Foreign exchange gains, net   873    -    873 
Dividend income   68    -    68 
Fair value gain on financial assets at fair value through profit or loss (i)   -    1,645    1,645 
Gain on derivative financial instruments, net   -    360    360 
Other finance costs   623    -    623 
Total financial instruments   (13,131)   2,005    (11,126)

 

   Financial assets / liabilities at amortized cost   Financial assets / liabilities at fair value through profit or loss   Total 
June 30, 2018            
Interest income   930    -    930 
Interest expense   (13,645)   -    (13,645)
Loss from debt exchange   (4,297)   -    (4,297)
Foreign exchange losses, net   (9,460)   -    (9,460)
Dividend income   146    78    224 
Fair value loss on financial assets at fair value through profit or loss   -    (1,400)   (1,400)
(Loss) / Gain on derivative financial instruments, net   (2)   282    280 
Other finance costs   (89)   -    (89)
Total financial instruments   (26,417)   (1,040)   (27,457)

 

   Financial assets / liabilities at amortized cost   Financial assets / liabilities at fair value through profit or loss   Total 
June 30, 2017            
Interest income   1,063    -    1,063 
Interest expense   (13,185)   -    (13,185)
Foreign exchange gains, net   1,000    8    1,008 
Dividend income   10    79    89 
Fair value gain on financial assets at fair value through profit or loss   -    5,152    5,152 
Gain on derivative financial instruments, net   4    248    252 
Other finance costs   (482)   -    (482)
Total financial instruments   (11,590)   5,487    (6,103)

 

(i)Included within "Financial results, net" in the Statements of Income.
Schedule of range of valuation models for the measurement of Level 2 and Level 3 instruments

The Group uses a range of valuation models for the measurement of Level 2 and Level 3 instruments, details of which may be obtained from the following table.

 

Description  Pricing model / method  Parameters  Fair value hierarchy  Range
Interest rate swaps  Cash flows - Theoretical price  Interest rate futures contracts and cash flows  Level 2  -
Preferred shares of Condor  Binomial tree – Theoretical price I  Underlying asset price (Market price); share price volatility (historical) and market interest rate (Libor rate curve).  Level 3  Underlying asset price 1.8 to 2.2
Share price volatility 58% to 78%
Market interest-rate 1.7% to 2.1%
Promissory note  Discounted cash flows -  Theoretical price  Market interest-rate (Libor rate curve)  Level 3  Market interest-rate 1.8% to 2.2%
Warrants of Condor  Black-Scholes –  Theoretical price  Underlying asset price (Market price); share price volatility (historical) and market interest rate (Libor rate curve).  Level 2  Underlying asset price 1.8 to 1.7
Share price volatility 58% to 78%
Market interest-rate 1.7% to 2.1%
TGLT Non-convertible Notes  Black-Scholes –  Theoretical price  Underlying asset price (Market price); share price volatility (historical) and market interest rate.  Level 3  Underlying asset price Ps. 8 to Ps.12
Share price volatility 50% to 70%
Market interest-rate 8% to 9%
Call option of Arcos  Discounted cash flows  Projected revenues and discounting rate.  Level 3  -
Investments in financial assets - Other private companies' securities (*)  Cash flow / NAV - Theoretical price  Projected revenue discounted at the discount rate
The value is calculated in accordance with shares in the equity funds on the basis of their Financial Statements, based on fair value or investments assessments.		  Level 3  1 - 3.5
Investments in financial assets - Others  Discounted cash flows -  Theoretical price  Projected revenue discounted at the discount rate
The value is calculated in accordance with shares in the equity funds on the basis of their Financial Statements, based on fair value or investment assessments.		  Level 3  1 - 3.5
Derivative financial instruments Forwards  Theoretical price  Underlying asset price and volatility  Level 2 and 3  -

 

(*)An increase in the discount rate would decrease the value of investments in private companies, while an increase in projected revenues would increase their value.
Schedule of changes in Level 3 instruments

The following table presents the changes in Level 3 financial instruments as of June 30, 2019 and 2018:

 

   Investments in financial assets - Public companies' Securities   Derivative financial instruments - Forwards   Investments in financial assets - Private companies' Securities   Investment in financial assets - Others   Derivative financial instruments - Warrants   Total 
Balances at June 30, 2017   128    (16)   1,500    -    -    1,612 
Additions and acquisitions   -    -    53    818    -    871 
Transfer to level 1 (ii)   -    -    (156)   -    -    (156)
Cumulative translation adjustment   -    (20)   761    122    -    863 
Deconsolidation (see Note 4.I.)   -    -    (196)   -    -    (196)
Write off   (105)   -    -    -    -    (105)
Gain / (loss) for the year (i)   187    -    (145)   294    -    336 
Balances at June 30, 2018   210    (36)   1,817    1,234    -    3,225 
Additions and acquisitions   -    -    120    -    -    120 
Transfer between levels   (138)   -    107    -    72    41 
Cumulative translation adjustment   (8)   -    (45)   (13)   13    (53)
Write off   -    -    -    -    -    - 
Gain / (loss) for the year (i)   (36)   (12)   (173)   (223)   10    (434)
Balances at June 30, 2019   28    (48)   1,826    998    95    2,899 

 

(i)Included within "Financial results, net" in the Statements of income.
(ii)The Group transferred a financial asset measured at fair value from level 3 to level 1, because it began trading in the stock exchange.