XML 48 R33.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Bank overdrafts and short-term borrowings
 12 Months Ended
Dec. 31, 2023
Bank Overdrafts And Short Term Borrowings [Abstract]  
Bank overdrafts and short-term borrowings

26 Bank overdrafts and short-term borrowings

Bank overdrafts and short-term borrowings as at December 31, 2023 and 2022 are analysed as follows:

 

 

 

31/12/23

 

 

31/12/22

 

Bank overdrafts

 

 

2,037

 

 

 

1,754

 

Borrowings related to a recourse factoring agreement

 

 

10,752

 

 

 

17,307

 

Borrowings secured with trade receivables not part of factoring agreement

 

 

9,282

 

 

 

9,703

 

Borrowings unsecured

 

 

763

 

 

 

490

 

Total

 

 

22,834

 

 

 

29,254

 

 

The weighted average interest rates on the bank overdrafts and short-term borrowings for the years ended December 31, 2023 and 2022 are as follows:

 

 

 

2023

 

 

2022

 

Bank overdrafts

 

 

7.81

%

 

 

5.12

%

Borrowings

 

 

5.65

%

 

 

3.30

%

 

As at December 31, 2023, the unused portion of credit facilities available to the Group, for which no commitment fees are due, amount to 31,130 (24,307 as at December 31, 2022). Such unused portion is related to a recourse factoring agreement for export-related trade receivables (28,588), borrowings to be secured with trade receivables (282) and bank overdrafts (2,260).