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Financial Instruments | 6 Months Ended
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Jun. 30, 2018
Disclosure of detailed information about financial instruments [abstract] |
Financial Instruments | Note 7 - Financial Instruments Fair value (1) Financial instruments measured at fair value for disclosure purposes only The carrying amounts of certain financial assets and liabilities, including cash and cash equivalents, trade receivables, other receivables, other short-term investments, deposits, derivatives, bank overdraft, short-term loans and borrowings, trade payables and other payables are the same or proximate to their fair value. The fair values of the other financial assets and liabilities, together with the carrying amounts shown in the statement of financial position, are as follows:
|  | June 30, 2018
|  |  |  |  | Fair value |  |  |  |
|  | Carrying |  |  |  |  |  |  |  |  |  |  | Valuation techniques for |  | Inputs used to
|  | amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  | determining fair value |  | determine fair value
|  | € in thousands |  |  |  |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debentures |  |  | 56,355 |  |  |  | 57,803 |  |  |  | - |  |  |  | - |  |  |  |
Loans from banks and others (including current maturities) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |  | Future cash flows by the market interest rate on the date of measurement. |  | Discount rate of Euribor+ 2.5%, 3.2% and 3.9% Linkage to Consumer price index in Israel
|  |  | 68,872 |  |  |  | - |  |  |  | 66,799 |  |  |  | - |  |  |  |
|  |  | 125,227 |  |  |  | 57,803 |  |  |  | 66,799 |  |  |  | - |  |  |  |
|  | December 31, 2017
|  |  |  |  | Fair value |  |  |  |
|  | Carrying |  |  |  |  |  |  |  |  |  |  | Valuation techniques for |  | Inputs used to
|  | amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  | determining fair value |  | determine fair value
|  | € in thousands |  |  |  |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debentures |  |  | 57,631 |  |  |  | 60,518 |  |  |  | - |  |  |  | - |  |  |  |
Loans from banks and others (including current maturities) |  |  | 44,864 |  |  |  | - |  |  |  | 45,561 |  |  |  | - |  | Future cash flows by the market interest rate on the date of measurement. |  | Discount rate of Euribor+ 2.53% and 4.65% Linkage to Consumer price index in Israel
Finance lease obligations (including current maturities) |  |  | 4,020 |  |  |  | - |  |  |  | 4,209 |  |  |  | - |  | Future cash flows by the market interest rate on the date of measurement. |  | Discount rate of Euribor+ 2.85%
|  |  | 106,515 |  |  |  | 60,518 |  |  |  | 49,770 |  |  |  | - |  |  |  |
(2) Fair value hierarchy of financial instruments measured at fair value The table below presents an analysis of financial instruments measured at fair value on the temporal basis using valuation methodology in accordance with hierarchy fair value levels. The various levels are defined as follows:
| — | Level 1: quoted prices (unadjusted) in active markets for identical instruments.
| — | Level 2: inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly.
| — | Level 3: inputs that are not based on observable market data (unobservable inputs).
|  | June 30, 2018 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | € in thousands |
Income receivable in connection with the Erez electricity pumped storage project |  |  | - |  |  |  | - |  |  |  | 1,293 |  |  |  | 1,293 |
Marketable securities |  |  | - |  |  |  | 5,569 |  |  |  | - |  |  |  | 5,569 |
Forward contracts |  |  | - |  |  |  | (2,040 | ) |  |  | - |  |  |  | (2,040 | )
Swap contracts |  |  | - |  |  |  | (560 | ) |  |  | - |  |  |  | (560 | )
Currency swap |  |  | - |  |  |  | (1,969 | ) |  |  | - |  |  |  | (1,969 | )
Loans granted to associates |  |  | - |  |  |  | - |  |  |  | 11,902 |  |  |  | 11,902 |
|  | December 31, 2017 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | € in thousands |
Income receivable in connection with the Erez electricity pumped storage project |  |  | - |  |  |  | - |  |  |  | 1,249 |  |  |  | 1,249 |
Marketable securities |  |  | - |  |  |  | 5,412 |  |  |  | - |  |  |  | 5,412 |
Forward contracts |  |  | - |  |  |  | (2,650 | ) |  |  | - |  |  |  | (2,650 | )
Swap contracts |  |  | - |  |  |  | (539 | ) |  |  | - |  |  |  | (539 | )
Currency swap |  |  | - |  |  |  | (1,244 | ) |  |  | - |  |  |  | (1,244 | )
There have been no transfers from any Level to another Level during the six months ended June 30, 2018. (3) Details regarding fair value measurement at Levels 2 and 3 Income receivable in connection with the Erez electricity pumped storage project - The fair value of the income receivable in connection with the Erez electricity pumped storage project was calculated according to the cash flows expected to be received in 4.5 years following the financial closing of the project, discounted at a weighted interest rate of 2.36% reflecting the credit risk of the debtor. Marketable securities – Market price. Forward contracts – Fair value measured on the basis of discounting the difference between the forward price in the contract and the current forward price for the residual period until redemption using market interest rates appropriate for similar instruments, including the adjustment required for the parties’ credit risks. Swap contracts – Fair value is measured by discounting the future cash flows, over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties’ credit risks. Currency swap – Fair value is measured by discounting the future cash flows, over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties’ credit risks. Loans granted to associates - Fair value is measured by discounting the expected future cash flows derived from Dorad's financial model, over the period of the loan and using interest rates based on CAPM model.

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- Definition The entire disclosure for financial instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2018-01-01 -Section Scope -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=7&date=2018-03-01&anchor=sect_Scope&doctype=Standard -URIDate 2018-03-16 + Details
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