XML 79 R59.htm IDEA: XBRL DOCUMENT

Financial instruments by category (Tables)

12 Months Ended

Jun. 30, 2020

Financial Instruments By Category [Abstract]

Schedule of financial assets and financial liabilities

						Financial assets at fair value through profit or loss
		Financial assets at amortized cost (i)				Level 1				Level 2				Level 3				Subtotal financial assets				Non-financial assets				Total
June 30, 2020
Assets as per Statement of Financial Position
Trade and other receivables (excluding the allowance for doubtful accounts and other receivables) (Note 17)			57,759				-				-				-				57,759				17,134				74,893
Investment in financial assets:
- Equity securities in public companies			-				574				230				-				804				-				804
- Equity securities in private companies			-				-				-				2,909				2,909				-				2,909
- Deposits			956				61				-				-				1,017				-				1,017
- Bonds			-				7,823				1,444				-				9,267				-				9,267
- Mutual funds			-				4,455				-				-				4,455				-				4,455
- Others			-				2,213				810				232				3,255				-				3,255
Derivative financial instruments:
- Crops options contracts			-				86				-				-				86				-				86
- Crops future contracts			-				15				-				-				15				-				15
- Foreign-currency options contracts			-				-				-				-				-				-				-
- Foreign-currency future contracts			-				16				128				-				144				-				144
- Swaps			-				-				17				-				17				-				17
- Warrants			-				-				-				142				142				-				142
- Others			61				-				20				-				81				-				81
Restricted assets (ii)			8,145				-				-				-				8,145				-				8,145
Financial assets held for sale
- Clal			-				3,377				-				-				3,377				-				3,377
Cash and cash equivalents (excluding bank overdrafts):
- Cash on hand and at bank			27,031				-				-				-				27,031				-				27,031
- Short-term investments			63,765				10,130				-				-				73,895				-				73,895
Total assets			157,717				28,750				2,649				3,283				192,399				17,134				209,533

						Financial liabilities at fair value
		Financial liabilities at amortized cost				Level 1				Level 2				Level 3				Subtotal financial liabilities				Non-financial liabilities				Total
June 30, 2020
Liabilities as per Statement of Financial Position
Trade and other payables (Note 20)			30,928				-				-				-				30,928				7,881				38,809
Borrowings (excluding finance lease liabilities) (Note 22)			418,807				-				-				-				418,807				-				418,807
Finance lease obligations (Note 22)			-				-				-				-				-				-				-
Derivative financial instruments:
- Crops options contracts			-				71				-				-				71				-				71
- Crops futures contracts			-				37				-				-				37				-				37
- Crops options contracts			-				171				50				-				221				-				221
- Swaps			-				-				95				-				95				-				95
- Forwards			-				-				61				-				61				-				61
- Others			-				-				956				20				976				-				976
Total liabilities			449,735				279				1,162				20				451,196				7,881				459,077

						Financial assets at fair value through profit or loss
		Financial assets at amortized cost (i)				Level 1				Level 2				Level 3				Subtotal financial assets				Non-financial assets				Total
June 30, 2019
Assets as per Statement of Financial Position
Trade and other receivables (excluding the allowance for doubtful accounts and other receivables) (Note 17)			49,341				-				-				-				49,341				13,547				62,888
Investment in financial assets:
- Equity securities in public companies			-				1,367				197				-				1,564				-				1,564
- Equity securities in private companies			-				-				-				2,610				2,610				-				2,610
- Deposits			5,301				51				-				-				5,352				-				5,352
- Bonds			-				22,430				1,518				966				24,914				-				24,914
- Mutual funds			-				10,289				-				-				10,289				-				10,289
- Others			-				3,411				623				500				4,534				-				4,534
Derivative financial instruments:
- Crops futures contracts			-				13				-				-				13				-				13
- Swaps			-				-				16				-				16				-				16
- Warrants			-				-				-				136				136				-				136
- Crops options contracts			-				46				-				-				46				-				46
- Foreign-currency options contracts			-				43				-				-				43				-				43
- Foreign-currency future contracts			-				3				41				-				44				-				44
- Others			-				-				17				-				17				-				17
Restricted assets (ii)			10,808				-				-				-				10,808				-				10,808
Financial assets held for sale
- Clal			-				22,638				-				-				22,638				-				22,638
Cash and cash equivalents (excluding bank overdrafts):
- Cash on hand and at bank			10,142				-				-				-				10,142				-				10,142
- Short-term investments			74,873				4,289				-				-				79,162				-				79,162
Total assets			150,465				64,580				2,412				4,212				221,669				13,547				235,216

		Financial liabilities at amortized				Financial liabilities at fair value												Subtotal financial				Non-financial
		cost (i)				Level 1				Level 2				Level 3				liabilities				liabilities				Total
June 30, 2019
Liabilities as per Statement of Financial Position
Trade and other payables (Note 20)			26,444				-				-				-				26,444				8,685				35,129
Borrowings (excluding finance lease liabilities) (Note 22)			477,432				-				-				-				477,432				-				477,432
Finance lease obligations (Note 22)			366				-				-				-				366				-				366
Derivative financial instruments:
- Crops futures contracts			-				103				-				-				103				-				103
- Foreign-currency contracts			-				36				-				-				36				-				36
- Crops options contracts			-				89				-				-				89				-				89
- Swaps			-				-				192				-				192				-				192
- Others			-				-				1,246				69				1,315				-				1,315
Total liabilities			504,242				228				1,438				69				505,977				8,685				514,662

(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 22).

(ii)

Corresponds to deposits in guarantee and escrows.

Schedule of book value of financial instruments recognized

		06.30.20												06.30.19
						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)			60,296				(2,537	)			57,759				51,753				(2,412	)			49,341
Financial liabilities
Trade and other payables			33,465				(2,537	)			30,928				28,856				(2,412	)			26,444

Schedule of income, expense, gains and losses on financial instruments

		Financial assets and liabilities at amortized cost				Financial assets and liabilities at fair value through profit or loss				Total
June 30, 2020
Interest income			1,059				-				1,059
Interest earned on operating assets			1,782				-				1,782
Interest expenses			(24,357	)			-				(24,357	)
Foreign exchange loss			(10,197	)			-				(10,197	)
Dividends income			168				-				168
Fair value gains financial assets at fair value through profit or loss			-				(9,862	)			(9,862	)
Gain from repurchase of Non-convertible Notes			2,885				-				2,885
Gain on financial instruments derived from commodities			-				439				439
Results from derivative financial instruments, net			-				(1,493	)			(1,493	)
Other financial income			236				-				236
Other financial results			(1,439	)			-				(1,439	)
Net result (i)			(29,863	)			(10,916	)			(40,779	)

		Financial assets and liabilities at amortized cost				Financial assets and liabilities at fair value through profit or loss				Total
June 30, 2019
Interest income			983				-				983
Interest earned on operating assets			841				-				841
Interest expenses			(21,893	)			-				(21,893	)
Foreign exchange loss			2,633				-				2,633
Dividends income			97				-				97
Fair value gains financial assets at fair value through profit or loss			-				2,797				2,797
Gain / (loss) from repurchase of Non-convertible Notes			74				-				74
Gain on financial instruments derived from commodities			-				446				446
Results from derivative financial instruments, net			-				477				477
Other financial income			695				-				695
Other financial results			(971	)			-				(971	)
Net result (i)			(17,541	)			3,720				(13,821	)

		Financial assets and liabilities at amortized cost				Financial assets and liabilities at fair value through profit or loss				Total
June 30, 2018
Interest income			1,267				-				1,267
Interest earned on operating assets			156				-				156
Interest expenses			(19,564	)			-				(19,564	)
Foreign exchange loss			(19,587	)			-				(19,587	)
Dividends income			209				-				209
Fair value loss in financial assets at fair value through profit or loss			-				(1,834	)			(1,834	)
Loss from repurchase of Non-convertible Notes			(5,908	)			-				(5,908	)
Results from derivative financial instruments, net			-				(743	)			(743	)
Loss from repurchase of Non-convertible Notes			-				(4	)			(4	)
Gain on financial instruments derived from commodities			-				56				56
Other financial results			(1,078	)			-				(1,078	)
Net result (i)			(44,505	)			(2,525	)			(47,030	)

Schedule of changes in Level 3 instruments

		Derivative financial instruments - Forwards				Investments in financial assets - Private companies’ securities				Investments in financial assets - Others				Investments in financial assets - Warrants				Total
Balance as of June 30, 2018			(51	)			2,597				2,064				-				4,610
Additions and acquisitions			-				172				-				-				172
Transfer to level 1 (ii)			-				153				(197	)			103				59
Currency translation adjustment			-				(65	)			(31	)			19				(77	)
Gains and losses recognized in the year (i)			(18	)			(247	)			(370	)			14				(621	)
Balance as of June 30, 2019			(69	)			2,610				1,466				136				4,143
Additions and acquisitions			-				35				-				-				35
Transfer to level 1 (ii)			-				-				-				351				351
Currency translation adjustment			(7	)			476				106				245				820
Write off			-				-				(977	)			(610	)			(1,587	)
Gains and losses recognized in the year (i)			56				(212	)			(363	)			20				(499	)
Balance as of June 30, 2020			(20	)			2,909				232				142				3,263

(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.

Schedule of range of valuation models for the measurement of Level 2 and Level 3 instruments

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		-
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.