13.12.2 Finance costs

Net settlement and valuation of derivative financial instruments not designated as hedge accounting purposes

During 2022 and 2021 the net positions of valuation and settlement of derivative financial instruments (non-designated instruments for hedge accounting purposes) related mainly to hedging the risk of changes in exchange rates with regard to payments of invoices for crude oil in foreign currency, the currency hedge for liquidity transactions, and to hedging interest rates and payment of bonds interests. The main impact on the valuation and settlement of derivative financial instruments in 2022 the depreciation of PLN against EUR and USD currency.

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ORLEN Group 2022 Integrated Report

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