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arranged at interest rates tied to Euribor. In view of the bank borrowings at 31 December
2015, changes of 100 basis points in the total cost borne would give rise to a +/- EUR 1.6
million change in the interest on the borrowings at that date. To mitigate this risk, the Parent
has arranged interest rate swaps to limit the finance costs arising from its floating-rate
borrowings (see Note 14).
Foreign currency risk is concentrated at the Parent and relates basically to the payments to
be made in international markets to acquire broadcasting rights. In order to mitigate foreign
currency risk, the Parent arranges hedging instruments, mainly currency forwards, to hedge
its exposure to the USD/EUR forward exchange rate. Sensitivity to changes in the exchange
rate is described in Note 14.
18. Income and expenses
a)
Revenue
The detail, by business line, of the Group's revenue for 2015 and 2014 is as follows:
Thousands of euros
2015
2014
Advertising sales
925,421
858,017
Other sales
41,070
29,578
Trade and other discounts
(41,922)
(37,704)
Total
924,569
849,891
In 2015 transactions exceeding 10% of total operating income were performed with two
customers (media buyers grouping together advertising orders of various advertisers), which
represented 19% and 17% (individually) and 36% (as an aggregate) of total advertising
sales.
In 2014 transactions exceeding 10% of total operating income were performed with two
customers (media buyers grouping together advertising orders of various advertisers), which
represented 19% and 18% (individually) and 37% (as an aggregate) of total advertising
sales.
The detail, by geographical market, of the Group's revenue for 2015 and 2014 is as follows:
Thousands of euros
2015
2014
Spain
918,853
845,147
Other EU countries
5,102
3,298
Other non-EU countries
614
1,446
Total
924,569
849,891
b)
Programme amortisation and other procurements
The detail of “Programme Amortisation and Other Procurements” is as follows:
Thousands of euros
2015
2014
External production services
245,433
215,563
Broadcasting of in-house productions
229,348
221,154
Programme broadcasting rights
167,932
165,364
Live broadcasting rights
49,827
36,706
Performances and contributions of entertainers
13,842
13,219