Note 28 – Accounts receivable and other receivables

Group Parent Company
SEK m 2016 2015 2016 2015
Accounts receivable 730 660 103 91
Receivables from Group companies 51 52
Other receivables 80 79 21 19
Current financial receivables, internal 121 65
Total accounts receivable and other receivables 810 739 296 227

Regarding credit risks and exposures, see Note 3.1.2.

Other receivables above relate to:

Group Parent Company
SEK m 2016 2015 2016 2015
Receivables from suppliers 6 11
VAT claims 32 45 21 19
Factoring 8 7
Other receivables 33 16 0 0
Total other receivables 80 79 21 19

Credit exposure:

Group Parent Company
SEK m 2016 2015 2016 2015
Accounts receivable neither due nor impaired 673 601 102 89
Accounts receivable due but not impaired 58 56 2 3
Impaired accounts receivable 23 21 3 1
Provision for bad debts -23 -18 -3 -1
Total accounts receivable 730 660 103 91

The credit risk associated with accounts receivable that are neither due nor impaired is not considered to be large. 40% (2015: 41%) of total accounts receivable that are neither due nor impaired have a rating of  AA or higher. Due to the geographical spread, the history Duni possesses regarding its customers, and the improbability of all customers encountering payment difficulties at the same time, Duni sees no reason for impairment in this category. No individual debt exceeds 4.3% (2015: 4.9%) of the total accounts receivable that are neither due nor impaired.

Ageing of accounts receivable overdue but not impaired:

Group Parent Company
SEK m 2016 2015 2016 2015
Less than 1 month 47 44 0 1
1-3 months 11 12 1 1
3-6 months 0 0 0 0
More than 6 months 0 0 0 0
Total 58 56 2 3

On December 31, 2016, provisions for bad debts amounted to SEK 23 m (2015: SEK 24 m). The individually assessed receivables in respect of which the need for impairment is deemed to exist relate primarily to wholesalers who have unexpectedly encountered financial difficulties. The assessment has been made that some of the claims are expected to be recoverable.

Ageing of impaired accounts receivable:

  Group Parent Company
SEK m 2016 2015 2016 2015
Less than 3 months 4 1 1
3-6 months 4 5 1
More than 6 months 15 15 1 1
Total 23 21 3 1

Specification of bad debt provisions:

Group Parent Company
SEK m 2016 2015 2016 2015
At the beginning of year 18 23 1 1
Provisions for bad debts 10 6 2 0
Claims written-off during the year -1 -1 0 0
Reversed non-utilized amount -5 -9 0 0
Exchange rate differences 1 0
At year-end 23 18 3 1

Provisions for the respective reversal of reserves for bad debts are included in the item “Selling expenses” in the income statement.

In other categories within accounts receivable and other receivables, no assets are included for which a need for a write-down exists.

The maximum exposure to credit risks as per the balance sheet date is the fair value for each category of receivables mentioned above. The Group holds no assets pledged as security.

Reported amounts, per currency, for the Group’s accounts receivable:

Group Parent Company
SEK m 2016 2015 2016 2015
SEK 28 32 28 31
EUR 492 438 19 15
GBP 71 79
DKK 33 28 33 28
NOK 23 17 23 17
PLN 19 20 0 0
Other currencies* 63 46 0 0
Total 730 660 103 91

*”Other currencies” refers to CHF, CZK, RUB, SGD, THB, USD, etc.