Bioceres Crop Solutions (US:BIOX)2020-10-21 20:55Financial Position - As of June 30, 2020, the net USD foreign currency position was $(52,968,976), an increase from $(40,513,954) in 2019 and $(28,861,129) in 2018[820]. - The total contractual maturities of financial liabilities as of June 30, 2020, were $64,211,250 for up to 3 months and $64,566,807 for 3 to 12 months[838]. - Borrowings due between 1 and 3 years amounted to $43,799,397 as of June 30, 2020[838]. - The company maintains adequate committed borrowing facilities and holds most financial assets in cash or cash equivalents[821]. Customer Concentration - Approximately 20% of seed and integrated products segment sales for the year ended June 30, 2020, were made to five well-known customers[829]. - In the crop protection segment, the top five customers represented 17% of the segment's sales, while in the crop nutrition segment, they represented 16%[829]. - The company manages credit risk by performing credit evaluations and setting credit limits for customers, with about 20% of sales concentrated among five customers[830]. Risk Exposure - The company is exposed to foreign currency exchange risks due to liabilities denominated in U.S. dollars while some subsidiaries use Argentine peso as their functional currency[819]. - The company has not entered into derivative contracts to hedge interest rate exposure, which may affect financing costs[822]. - A one percentage point increase in floating interest rates would increase interest payable by less than $0.1 million as of June 30, 2020[822].