Annual Report IPF 2021 - Flipbook - Side 47
INDUSTRIENS PENSIONSFORSIKRING A/S
22.
ANNUAL REPORT 2021
NOTES
Breakdown by valuation of investment assets and financial liabilities, continued
For assets and liabilities measured at fair value using unobservable input, the following valuation techniques and input have been applied:
DKK mill.
Group undertakings, properties
Group undertakings, wind turbines
Associated undertakings, properties
Associated undertakings, infrastructure
Associated undertakings, other
Equity investments, unlisted
Investment units, unlisted
Bonds, unlisted
Other loans
Total
Fair value
2021
Fair value
2020
Valuation technique
Key input
Measurement uncertainty
Required rate of return from 4.0% to
5.5%
DCF model*
(4.0% to 5.5%)
If the required rate of return for individual
properties is increased by 0.25 %-point, the value
changes
DKK -171 mill. (DKK -171 mill.)
6,456
5,536
1,028
928
DCF model*
WACC from 5.16% to 5.63%
(4.47% to 4.6%)
If the WACC is increased by 1 %-point, the value
changes by DKK -78 mill. (DKK -88 mill.)
5
4
Reported fair value**
-
-
245
69
DCF model*
WACC from 4.38% to 7.26%
If the WACC is increased by 0.25 %-points, the
value changes by DKK -35 mill.
0
3
Reported fair value**
-
-
55,053
41,837
Reported fair value**
-
-
8,135
7,226
Reported fair value**
-
-
542
522
Reported fair value**
-
-
70
83
Reported fair value**
-
-
71,534
56,208
*See note 1 for a more detailed description.
**Reported fair value based on reports received from relevant companies in which underlying assets and liabilities are measured at fair value. See note 1 for a more detailed description.
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