IBERSOL | Annual Report 2021

ANNUAL REPORT 2021 dec/2021 dec/2020 Onerous contracts (1) 1 560 000 - Compensation (2) 834 766 - Others 28 000 28 000 Litigation 5 257 5 257 Provisions 2 428 023 33 257 (1) as a result of the application of Law 13/2021 (introductory note) and the loss of passenger traffic caused by the pandemic, the Ibersol Group carried out a review of the business plans of the concessions in Spain, recognizing a provision for an onerous contract, in the Gran Canaria airport in the amount of 1.6 million euros (see notes 8 and 25); (2) provision referring to a judicial decision for compensation, in the amount of 744,766 euros and 90,000 euros, under appeal and corresponding to a deposit in the Juzgado in Barcelona of the same amount (note 15). 20. DERIVATIVE FINANCIAL INSTRUMENTS As at 31st December 2021 and 2020 the detail of Ibersol derivative financial instru- ments are presented as follows: dec/2021 dec/2020 Swap 18 976 63 078 Derivative financial instruments 18 976 63 078 Ibersol Group’s derivatives are hedging for an interest rate swap with the purpose of covering the risk of future cash flows and are detailed as follows: Ibersol SGPS Ibersol SGPS Initial date 19/05/2017 08/06/2017 Due date 20/10/2022 14/11/2022 Fixed interest rate 0,39% 0,395% Variable interest rate Euribor 6M* Euribor 3M* Amounts at 31st December 2021 4 800 000 1 600 000 (*) com floor zero These derivatives is classified as a level 2 category and its technical valuation is based on a market approach (MTM). As the derivative financial instrument was not registered under hedge accounting, the change in the fair value of the derivative is reflected in income for the period (Note 26). 411