31 Intercompany receivables

The intercompany receivables recognised under financial fixed assets concern interest-bearing loans and borrowings issued to group companies as part of the group financing. The variable interest charged is based on EURIBOR including a margin of 165 basis points (2013: fixed rate with a margin of 165 basis points). The term to maturity of the loans is equal to the term to maturity of the financing agreed in 2011 and matures in 2016.

The intercompany receivables recognised under current assets mainly concern current account positions with group companies for which no further agreements have been made about the term to maturity or repayment.