Abridged consolidated financial statements

Consolidated statement of profit or loss

T€

 

Disclosure

 

2020

 

2019

+

 

Revenue

 

VI.1

 

579,672

 

1,567,967

+/–

 

Changes in inventories and work in progress

 

 

 

-86

 

40

+

 

Own work capitalized

 

VI.2

 

15,611

 

16,689

+

 

Other income

 

VI.3

 

29,018

 

26,436

 

 

Total revenue

 

 

 

624,215

 

1,611,132

 

Cost of materials

 

VI.4

 

-232,577

 

-413,210

 

Personnel expenses

 

VI.5

 

-408,606

 

-537,239

 

Other expenses

 

VI.6

 

-144,870

 

-106,369

 

 

Earnings before interest, taxes, depreciation, and amortization (EBITDA)

 

 

 

-161,838

 

554,314

 

Depreciation and amortization

 

VI.7

 

-242,016

 

-208,835

 

 

Operating result (EBIT)

 

 

 

-403,854

 

345,479

+

 

Interest result

 

VI.8

 

-94,059

 

-78,233

+/–

 

Other financial result

 

VI.8

 

66,305

 

-11,812

 

 

Financial result

 

 

 

-27,754

 

-90,045

+

 

Result from companies accounted for using the equity method

 

VII.4

 

-1,812

 

1,388

 

 

Earnings before taxes (EBT)

 

 

 

-433,420

 

256,822

+/–

 

Income taxes

 

VI.9

 

112,019

 

-78,975

 

 

Group profit/loss of the year (EAT)

 

 

 

-321,401

 

177,847

 

 

of which assignable to owners of the company

 

 

 

-321,402

 

177,842

 

 

of which assignable to non-controlling interests

 

 

 

1

 

5

Consolidated statement of comprehensive income

T€

 

Disclosure

 

2020

 

2019

 

 

Group profit/loss of the year

 

 

 

-321,401

 

177,847

+/–

 

Cash flow hedging

 

VII.16

 

12,354

 

11,406

+/–

 

Deferred taxes not affecting profit or loss

 

VII.6

 

-2,470

 

-2,281

 

 

Items to be reclassified to the statement of profit or loss

 

 

 

9,884

 

9,125

+/–

 

Actuarial gains and losses

 

VII.17

 

-1,670

 

-5,351

+/–

 

Deferred taxes not affecting profit or loss

 

VII.6

 

463

 

1,488

+/–

 

Effects of foreign currency translation

 

 

 

62

 

3

 

 

Items not to be reclassified to the statement of profit or loss

 

 

 

-1,145

 

-3,860

 

 

Other comprehensive income net of tax

 

 

 

8,739

 

5,265

 

 

Total comprehensive income

 

 

 

-312,662

 

183,112

 

 

of which assignable to owners of the company

 

 

 

-312,663

 

183,107

 

 

of which assignable to non-controlling interests

 

 

 

1

 

5

Consolidated statement of financial position

Assets

 

 

 

 

 

 

T€

 

Disclosure

 

Dec. 31, 2020

 

Dec. 31, 2019

Intangible assets

 

VII.1

 

19,384

 

21,162

Property, plant, and equipment

 

VII.2

 

5,120,387

 

4,951,956

Investment property

 

VII.3

 

145,273

 

155,358

Investments in companies accounted for using the equity method

 

VII.4

 

2,304

 

4,138

Receivables

 

VII.5

 

5,109

 

5,201

Contract assets

 

VII.23

 

6,237

 

2,232

Other financial assets

 

 

 

245

 

214

Deferred tax assets

 

VII.6

 

8,810

 

5,497

Other assets

 

VII.9

 

7,390

 

6,153

Non-current assets

 

 

 

5,315,139

 

5,151,911

Inventories

 

VII.7

 

28,057

 

37,483

Receivables

 

VII.8

 

60,603

 

94,229

Contract assets

 

VII.23

 

7,516

 

7,315

Other financial assets

 

VII.8

 

40

 

1

Current income tax assets

 

 

 

4,196

 

5,123

Other assets

 

VII.9

 

32,786

 

35,872

Short-term deposits

 

VII.10

 

67,985

 

168,767

Cash and cash equivalents

 

VII.10

 

9,717

 

39,576

Current assets

 

 

 

210,900

 

388,366

Assets held for sale

 

VII.11

 

2,551

 

1,746

Assets

 

 

 

5,528,590

 

5,542,023

Equity and Liabilities

 

 

 

 

 

 

T€

 

Disclosure

 

Dec. 31, 2020

 

Dec. 31, 2019

Subscribed capital

 

VII.12

 

306,776

 

306,776

Reserves

 

VII.12

 

133,651

 

147,490

Other equity

 

VII.12

 

1,624,515

 

1,923,854

Non-controlling interests

 

 

 

20

 

19

Equity

 

 

 

2,064,962

 

2,378,139

Financial liabilities from interests in partnerships

 

VII.14

 

334,619

 

354,047

Payables

 

VII.15

 

19,471

 

14,211

Other financial liabilities

 

VII.15

 

1,631,789

 

1,148,779

Employee benefits

 

VII.17

 

119,135

 

61,965

Other provisions

 

VII.18

 

92,038

 

91,984

Deferred tax liabilities

 

VII.6

 

318,474

 

424,400

Other liabilities

 

VII.20

 

14,600

 

15,807

Non-current liabilities

 

 

 

2,195,507

 

1,757,146

Payables

 

VII.19

 

111,597

 

151,620

Contract liabilities

 

VII.23

 

792

 

2,244

Other financial liabilities

 

VII.19

 

744,664

 

813,645

Employee benefits

 

VII.17

 

46,987

 

47,587

Other provisions

 

VII.18

 

13,238

 

11,445

Current income tax liabilities

 

 

 

4,895

 

8,209

Other liabilities

 

VII.20

 

11,329

 

17,941

Current liabilities

 

 

 

933,502

 

1,052,691

Equity and liabilities

 

 

 

5,528,590

 

5,542,023

Consolidated statement of changes in equity

 

 

Disclosure

 

Subscribed
capital

 

Reserves

 

Other equity

 

Non-controlling interests

 

Equity

T€

 

 

 

 

 

Capital reserve

 

Revenue reserve

 

 

 

 

 

 

As of Dec. 31, 2018

 

VII.12

 

306,776

 

102,258

 

49,095

 

1,766,853

 

14

 

2,224,996

Group profit/loss for the year

 

 

 

0

 

0

 

0

 

177,842

 

5

 

177,847

Other comprehensive income

 

 

 

0

 

0

 

-3,863

 

9,128

 

0

 

5,265

Total comprehensive income

 

 

 

0

 

0

 

-3,863

 

186,970

 

5

 

183,112

Distributions

 

 

 

0

 

0

 

0

 

-30,000

 

 

 

-30,000

Transactions with shareholders

 

 

 

0

 

0

 

0

 

-30,000

 

0

 

-30,000

Effects of foreign currency translation

 

 

 

0

 

0

 

0

 

31

 

0

 

31

As of Dec. 31, 2019

 

VII.12

 

306,776

 

102,258

 

45,232

 

1,923,854

 

19

 

2,378,139

Group profit/loss for the year

 

 

 

0

 

0

 

0

 

-321,402

 

1

 

-321,401

Other comprehensive income

 

 

 

0

 

0

 

-1,207

 

9,884

 

0

 

8,677

Total comprehensive income

 

 

 

0

 

0

 

-1,207

 

-311,518

 

1

 

-312,724

Allocation to reserves

 

 

 

0

 

0

 

40,229

 

-40,229

 

0

 

0

Withdrawals from reserves

 

 

 

0

 

0

 

-52,861

 

52,861

 

0

 

0

Changes in reserves

 

 

 

0

 

0

 

-12,632

 

12,632

 

0

 

0

Effects of foreign currency translation

 

 

 

0

 

0

 

0

 

-453

 

0

 

-453

As of Dec. 31, 2020

 

VII.12

 

306,776

 

102,258

 

31,393

 

1,624,515

 

20

 

2,064,962

Consolidated statement of cash flow

T€

 

Disclosure

 

2020

 

2019

 

 

Total comprehensive income

 

 

 

-312,662

 

183,112

+

 

Deferred taxes not affecting profit or loss

 

 

 

2,007

 

793

+

 

Actuarial gains and losses

 

 

 

1,670

 

5,351

+

 

Cash flow hedging

 

 

 

-12,354

 

-11,406

 

 

Changes due to foreign currency translation

 

 

 

-62

 

-3

 

 

Group profit/loss of the year (EAT)

 

 

 

-321,401

 

177,847

 

 

Result from companies accounted for using the equity method

 

 

 

1,812

 

-1,388

 

 

Income taxes

 

 

 

-112,019

 

78,975

 

 

Financial result

 

 

 

27,754

 

90,045

 

 

Operating result (EBIT)

 

 

 

-403,854

 

345,479

 

 

Depreciation and amortization

 

 

 

242,016

 

208,835

 

 

Gains/losses from disposal of fixed assets

 

 

 

3,800

 

2,481

 

 

Increase/decrease in inventories

 

 

 

9,426

 

1,710

 

 

Increase/decrease in current receivables

 

 

 

33,626

 

-18,172

 

 

Increase/decrease in liabilities

 

 

 

-34,507

 

-8,932

 

 

Increase/decrease in employee benefits

 

 

 

54,415

 

9,031

 

 

Increase/decrease in other provisions

 

 

 

1,848

 

-3,573

 

 

Increase/decrease in other assets/liabilities not related to investing and financing activities

 

 

 

-21,200

 

-23,243

 

 

Gross cash flow from operating activities

 

 

 

-114,430

 

513,616

 

 

Net income taxes paid/received

 

 

 

-1,618

 

-84,542

 

 

Cash flows from operating activities

 

 

 

-116,048

 

429,074

 

 

Proceeds from sale of owner-occupied property, plant, and equipment

 

 

 

2,604

 

5,138

 

 

Proceeds from sale of intangible assets

 

 

 

681

 

707

 

 

Proceeds of distributions from associated companies

 

 

 

0

 

1,173

 

 

Payments for investments in owner-occupied property, plant, and equipment

 

 

 

-387,809

 

-306,980

 

 

Payments for investments in intangible assets

 

 

 

-2,857

 

-6,870

 

 

Payments for investments in investment property

 

 

 

-379

 

-5,592

 

 

Payments from acquisition of subsidiaries

 

 

 

0

 

-1,200

 

 

Interest received

 

 

 

305

 

382

 

 

Changes in connection to companies that are not fully consolidated

 

 

 

0

 

-275

 

 

Changes in short-term deposits

 

 

 

100,782

 

40,679

+

 

Cash flow from investing activities

 

 

 

-286,673

 

-272,838

 

 

Payments for distributions to shareholders

 

IX

 

0

 

-30,000

 

 

Proceeds from borrowings

 

IX

 

515,850

 

71,111

 

 

Repayments of borrowings from banks

 

IX

 

-96,899

 

-79,406

 

 

Repayments of lease liabilities

 

 

 

-6,734

 

-4,903

 

 

Repayments of financial liabilities from interests in partnerships

 

IX

 

-11,713

 

-36,919

 

 

Cash flows from Group-wide cash management with associates and shareholdings

 

IX

 

4,231

 

-4,460

 

 

Interest paid (excluding borrowing costs for qualifying assets)

 

IX

 

-23,330

 

-39,743

 

 

Payments for borrowing costs for qualifying assets

 

IX

 

-8,543

 

-4,717

+

 

Cash flow from financing activities

 

IX

 

372,862

 

-129,037

 

 

Change in cash and cash equivalents

 

 

 

-29,859

 

27,199

 

 

Cash and cash equivalents at the beginning of the year

 

 

 

39,576

 

12,377

 

 

Cash and cash equivalents at the end of the year

 

 

 

9,717

 

39,576

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