20.1. Provisions for other risks and contingencies
2024 |
|
Opening |
|
Set up and |
|
Used and |
|
Closing |
|---|---|---|---|---|---|---|---|---|
Other risks and contingencies |
|
5,077 |
|
259 |
|
(1,563) |
|
3,773 |
Total |
|
5,077 |
|
259 |
|
(1,563) |
|
3,773 |
2023 |
|
Opening |
|
Set up and |
|
Used and |
|
Closing |
|---|---|---|---|---|---|---|---|---|
Other risks and contingencies |
|
7,102 |
|
138 |
|
(2,163) |
|
5,077 |
Total |
|
7,102 |
|
138 |
|
(2,163) |
|
5,077 |
The heading other risks and contingencies consists of provisions for possible compensation to be paid by JMH regarding guarantees provided in business sales agreements entered into over the last few years and provisions for litigation processes where there are no prospects for resolution in less than one year.
20.2. Adjustments for impairment losses
2024 |
|
Opening |
|
Set up and |
|
Used and |
|
Closing |
|---|---|---|---|---|---|---|---|---|
Investments in subsidiaries |
|
– |
|
18 |
|
– |
|
18 |
Subsidiaries loans |
|
– |
|
16,457 |
|
– |
|
16,457 |
Total |
|
– |
|
16,475 |
|
– |
|
16,475 |
In 2024, JMH conducted impairment tests on its investments in subsidiaries (including loans to subsidiaries). As a result of those tests, JMH recognized impairment losses on financial investments in the subsidiary Origins – Agro Business Investments B.V., in the amount of €16,475 thousand.
In performing these impairment tests, JMH calculated the value in use according with the Discounted Cash Flow (DCF) method. Value in use is supported by past performance and market development expectations, with five-year projections of future cash flows for each of the assets or cash-generating units, based on medium/long-term plans approved by the Board of Directors.