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The value of financial assets and liabilities measured at amortised cost is a reasonable approximation of their fair value, except for bonds issued by PGE Sweden AB (publ).
Bonds issued by PGE Sweden AB (publ) are based on a fixed interest rate. As at December 31, 2019, their value at amortised cost, as disclosed in these financial statements, amounted to EUR 139 million and their fair value was EUR 154 million. Ratios used in measurement are included in Level 1 of the fair value hierarchy.
Financial instruments not quoted on active markets, for which fair value cannot be estimated reliably
The most significant positions in this category of financial instruments are shares in entities not quoted on active markets. PGE Group is not able to estimate reliably the fair value of shares not-quoted on an active markets, therefore they are measured at cost less impairment losses.
