Abridged consolidated financial statements
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 |
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 |
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 |
|
|
Disclosure |
|
Subscribed |
|
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 |
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 |