ING Bank NV, ABN AMRO Bank NV, Deutsche Bank AG and Rabobank have provided Unica Groep BV and its subsidiaries with credit facilities in their current accounts and/or guarantee facilities. Unica Groep BV has pledged its shares to the banks for this purpose. The group companies have pledged receivables, stocks and fixtures and fittings to the banks. The bank guarantees issued to third parties amount to € 11.6 million (2020: € 17.5 million). Unica Groep BV has issued corporate guarantees to clients of its group companies; 20 of these guarantees are still outstanding and amount to € 2.75 million in total (2020: 22 still outstanding guarantees amounting to € 2.98 million).
The obligations arising from lease agreements concluded with third parties amount to € 51.8 million (2020: € 47.7 million). Of this total, € 17.5 million (2020: € 15.3 million) will fall due within one year and € 5.1 million (2020: €4.6 million) after five years. The group has entered into rental and lease obligations that result in an annual expense of € 7.0 million and € 10.5 million respectively (2020: € 6.1 million and € 9.3 million). The rental obligation after five years amounts to € 5.0 million (2020: € 4.6 million) and the lease obligation amounts to € 0.1 million (2020: € 0.1 million).
The company forms part of a group tax entity for corporation tax and turnover tax and as such is jointly and severally liable for the tax debt of the group tax entity as a whole.
The legal entity is a partner in several general partnerships (v.o.f.) and as such is jointly and severally liable for the debts of these general partnerships. Unica has an obligation to acquire the remaining shares in Synto BV in 2022 and the remaining shares in Numan & Kant BV in 2023.
The main financial risks to which the group is exposed are the liquidity risk and the credit risk. The group has committed credit facilities totalling €25 million (2020: 25 million). Cash flow forecasts are made periodically. Monitoring is used in the intervening periods, with adjustments where necessary, to manage the liquidity risks. The credit risk is managed by performing checks of creditworthiness. Outstanding receivables from debtors are insured with a credit insurance company.
The group manages its credit risk by performing checks of creditworthiness of debtors and by using credit limits for each debtor. On the balance sheet date there were no significant concentrations of credit risk. A share of outstanding receivables from debtors are insured with a credit insurance company.
The interest risk relates to a long-term loan with Prisma Technologies BV, the interest percentage for which is coupled to the 3-month Euribor rate.