17. Receivables
|
As at 31-12-2024 |
As at 31-12-2023 |
|
|---|---|---|
|
Trade receivables |
173.7 |
201.8 |
|
Impairment provision |
-0.7 |
-0.9 |
|
Total trade receivables |
173.0 |
200.9 |
|
Other receivables |
20.3 |
23.1 |
|
Derivatives |
0.5 |
0.4 |
|
Prepayments and accrued income |
9.7 |
14.2 |
|
Total other receivables |
30.5 |
37.7 |
|
Total receivables |
203.5 |
238.6 |
Trade receivables are not interest-bearing and generally have an average term of credit of 30-90 days. The group applies the IFRS 9 simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance for all trade receivables.
Breakdown of expired credit terms trade receivables (net of impairment provision)
|
Total |
< 30 days |
30-60 days |
60-90 days |
> 90 days |
|
|---|---|---|---|---|---|
|
Functional Ingredients & Solutions |
23.4 |
15.5 |
2.3 |
0.3 |
5.3 |
|
Health & Nutrition |
6.8 |
4.5 |
0.7 |
0.1 |
1.5 |
|
Total |
30.2 |
20.0 |
3.0 |
0.4 |
6.8 |
Movements in trade receivables impairment provision
|
2024 |
2023 |
|
|---|---|---|
|
As at 1 January |
-0.9 |
-1.3 |
|
Additions/releases |
-0.2 |
-0.3 |
|
Use |
0.1 |
0.6 |
|
Sale of group companies |
0.2 |
|
|
Exchange rate differences |
0.1 |
0.1 |
|
As at 31 December |
-0.7 |
-0.9 |
The additions to / releases from the trade receivables impairment provision are recognized as selling expenses.