Discover the Acea Group online 2020 Consolidated Report
Financial Statements
- Consolidated Income Statement
- Comprehensive Consolidated Income Statement
- Consolidated Statement of Financial Position
- Consolidated Statement of Cash Flows
- Changes in Shareholders' equity
| Amounts in € thousand | 31/12/2020 | Of which related party transactions | 31/12/2019 | Of which related party transactions | Change |
|---|---|---|---|---|---|
| Revenue from sales and services | 3,205,492 | 3,021,843 | 183,648 | ||
| Other revenue and income | 173,900 | 164,293 | 9,607 | ||
| Consolidated net revenues | 3,379,392 | 103,822 | 3,186,136 | 87,443 | 193,256 |
| Cost of labor | 267,651 | 249,275 | 18,376 | ||
| Costs of materials and overheads | 1,986,927 | 1,936,030 | 50,896 | ||
| Consolidated Operating Costs | 2,254,577 | 53,743 | 2,185,306 | 39,349 | 69,272 |
| Net income/(costs) from commodity risk management | 330 | 99 | 231 | ||
| Income/(Costs) from equity investments of a non-financial nature | 30,319 | 41,367 | (11,048) | ||
| EBITDA | 1,155,463 | 50,079 | 1,042,297 | 48,093 | 113,166 |
| Net write-downs (write-backs) of trade receivables | 79,442 | 61,697 | 17,745 | ||
| Depreciation, amortisation and provisions | 541,042 | 457,376 | 83,666 | ||
| Operating profit/(loss) | 534,980 | 50,079 | 523,224 | 48,093 | 11,756 |
| Financial income | 10,046 | 1,910 | 10,670 | 5,194 | (624) |
| Financial costs | (98,064) | 0 | (106,089) | (407) | 8,025 |
| Income/(Costs) from equity investments | 14,243 | 2,585 | 11,659 | ||
| Profit/(loss) before tax | 461,205 | 51,989 | 430,390 | 52,880 | 30,816 |
| Income taxes | 134,648 | 123,213 | 11,435 | ||
| Net profit/(loss) | 326,558 | 51,989 | 307,177 | 52,880 | 19,381 |
| Net profit/(loss) from discontinued operations | |||||
| Net profit/(loss) | 326,558 | 51,989 | 307,177 | 52,880 | 19,381 |
| Profit/(loss) attributable to non-controlling interests | 41,609 | 23,491 | 18,119 | ||
| Net profit/(loss) attributable to the Group | 284,948 | 283,686 | 1,262 | ||
| Earnings (loss) per share attributable to Parent Company's shareholders | |||||
| Basic | 1.33801 | 1.33208 | 0.00593 | ||
| Diluted | 1.33801 | 1.33208 | 0.00593 | ||
| Earnings (loss) per share attributable to Parent Company's shareholders, net of Treasury Shares | |||||
| Basic | 1.34063 | 1.33469 | 0.00594 | ||
| Diluted | 1.34063 | 1.33469 | 0.00594 |
| € thousand | 31/12/2020 | 31/12/2019 | Change |
|---|---|---|---|
| Net income for the period | 326,558 | 307,177 | 19,381 |
| Profit/Loss from conversion of financial statements expressed in foreign currency | (5,983) | 367 | (6,349) |
| Reserve for exchange differences | 5,740 | (5,299) | 11,040 |
| Tax reserve for exchange differences | (1,378) | 1,272 | (2,650) |
| Gains/losses from exchange rate difference | 4,363 | (4,028) | 8,390 |
| Effective portion of gains/(losses) on hedging instruments (“cash flow hedges”) | 2,637 | (2,019) | 4,656 |
| Tax effect of other gains/(losses) on hedging instruments ("cash flow hedges") | (1,059) | 1,108 | (2,167) |
| Profit/loss from the effective portion on hedging instruments net of tax effect | 1,578 | (910) | 2,488 |
| Actuarial gains/(losses) on employee benefits recognised in equity | (4,920) | (6,424) | 1,504 |
| Tax effect on the other actuarial profit/(loss) on staff benefit plans | 1,416 | 585 | 832 |
| Actuarial Profit/(Loss) on defined benefit pension plans net of tax effect | (3,504) | (5,839) | 2,336 |
| Total components of other comprehensive income, net of tax effect | (3,546) | (10,411) | 6,865 |
| Total comprehensive income/loss | 323,012 | 296,766 | 26,246 |
| Total comprehensive income (loss) attributable to: | |||
| Group | 282,446 | 272,932 | 9,515 |
| Minority interests | 40,566 | 23,834 | 16,731 |
| ASSETS | 31/12/2020 | of which with related parties | 31/12/2019 | of which with related parties | Change |
|---|---|---|---|---|---|
| Tangible fixed assets | 2,786,645 | 2,609,485 | 177,161 | ||
| Real estate investments | 2,372 | 2,431 | (58) | ||
| Goodwill | 223,713 | 182,902 | 4,081 | ||
| Concessions and rights on infrastructure | 2,835,766 | 2,484,483 | 351,284 | ||
| Intangible fixed assets | 313,232 | 222,358 | 90,873 | ||
| Right of use | 73,660 | 63,397 | 10,263 | ||
| Equity investments in unconsolidated subsidiaries and associates | 276,362 | 268,039 | 8,323 | ||
| Other equity investments | 31,100 | 2,772 | 328 | ||
| Deferred tax assets | 235,012 | 237,693 | (2,681) | ||
| Financial assets | 38,781 | 21,156 | 47,202 | 26,144 | (8,421) |
| Other assets | 522,360 | 21,156 | 6,501,429 | 26,144 | 809,575 |
| Inventories | 91,973 | 57,335 | 34,638 | ||
| Trade receivables | 981,509 | 72,080 | 1,035,462 | 99,798 | (53,954) |
| Other current assets | 257,442 | 212,956 | 44,486 | ||
| Current tax assets | 9,618 | 2,710 | (271) | ||
| Current financial assets | 379,859 | 143,097 | 299,212 | 121,968 | 80,647 |
| Cash and cash equivalents | 642,209 | 835,693 | (193,484) | ||
| CURRENT ASSETS | 2,362,610 | 215,177 | 2,452,987 | 221,766 | (90,376) |
| Non-current assets held for sale | 0 | 0 | 0 | ||
| TOTAL ASSETS | 9,673,614 | 236,333 | 8,954,416 | 247,910 | 719,198 |
Amounts in € thousand
| LIABILITIES | 31/12/2020 | of which with related parties | 31/12/2019 | of which with related parties | Change |
|---|---|---|---|---|---|
| Shareholders' Equity | |||||
| Share capital | 1,098,899 | 1,098,899 | 0 | ||
| Legal reserve | 129,761 | 119,336 | 10,424 | ||
| Other reserves | (224,509) | (209,562) | (14,947) | ||
| Retained earnings/(losses) | 675,731 | 562,413 | 113,318 | ||
| Profit (loss) for the year | 284,948 | 283,686 | 1,262 | ||
| Total Group shareholders' equity | 1,964,829 | 1,854,772 | 110,058 | ||
| Minority interests | 358,429 | 251,938 | 106,491 | ||
| Total shareholders' equity | 2,323,258 | 2,106,710 | 216,548 | ||
| Employee severance indemnity and other defined-benefit plans | 122,047 | 104,613 | 17,434 | ||
| Provision for risks and charges | 156,951 | 151,418 | 5,533 | ||
| Borrowings and financial liabilities | 4,154,251 | 3,551,889 | 602,362 | ||
| Other liabilities | 405,799 | 391,100 | 14,699 | ||
| NON-CURRENT LIABILITIES | 4,839,048 | 4,199,020 | 640,027 | ||
| Financial payables | 419,822 | 133,714 | 674,364 | 79,616 | (254,542) |
| Payables to suppliers | 1,627,119 | 77,230 | 1,600,263 | 111,319 | 26,856 |
| Tax payables | 40,217 | 11,977 | 28,240 | ||
| Other current liabilities | 42,415 | 362,082 | 62,068 | ||
| CURRENT LIABILITIES | 2,511,308 | 210,944 | 2,648,685 | 190,935 | (137,378) |
| Liabilities directly associated with assets held for sale | 0 | 0 | 0 | ||
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 9,673,614 | 210,944 | 8,954,416 | 190,935 | 719,198 |
Amounts in € thousand
| € thousand | 31/12/2020 | Related parties | 31/12/2019 | Related parties | Change |
|---|---|---|---|---|---|
| Cash flow from operating activities | |||||
| Profit before tax | 461,205 | 430,390 | 30,816 | ||
| Depreciation/amortisation and impairment charges | 498,257 | 409,557 | 88,700 | ||
| Write-ups/write-downs | 34,879 | 22,862 | 12,017 | ||
| Change in provisions for risks | 3,362 | 5,268 | (1,906) | ||
| Net change in the provision for employee benefits | 18,737 | (10,708) | 29,444 | ||
| Net financial interest | 88,018 | 90,302 | (2,284) | ||
| Income taxes paid | (119,424) | (132,617) | 13,193 | ||
| Financial flows generated by operating activities before changes | 985,034 | 0 | 815,054 | 0 | 169,980 |
| Increase/Decrease in receivables included in current assets | 21,976 | 27,718 | (118,892) | (15,816) | 140,867 |
| Increase/Decrease in payables included in the working capital | 30,699 | (34,089) | 41,729 | (13,180) | (11,030) |
| Increase/Decrease in inventories | (28,367) | (7,447) | (20,919) | ||
| Change in working capital | 24,308 | (6,371) | (84,610) | (28,997) | 108,918 |
| Change in other assets/liabilities during the period | (182,600) | 39,137 | (221,737) | ||
| TOTAL CASH FLOW FROM OPERATING ACTIVITIES | 826,742 | (6,371) | 769,581 | (28,997) | 57,161 |
| Cash flow from investment activities | |||||
| Purchase/sale of tangible fixed assets | (572,313) | (431,036) | (141,276) | ||
| Purchase/sale of intangible fixed assets | (334,656) | (361,740) | 27,084 | ||
| Equity investments | (103,792) | (43,703) | (60,088) | ||
| Collections/payments deriving from other financial investments | (68,463) | (16,142) | (177,824) | (30,620) | 109,361 |
| Collected dividends | 29,848 | 29,848 | 16,787 | 16,787 | 13,061 |
| Interest income collected | 14,990 | 20,588 | (5,598) | ||
| TOTAL CASH FLOW FROM INVESTMENT ACTIVITIES | (1,034,385) | 13,706 | (976,928) | (13,833) | (57,457) |
| Cash flow from financing activities | |||||
| Repayment of mortgages and long-term loans | (487,747) | (313,642) | (174,104) | ||
| Provision of mortgages/other debts and medium to long term | 604,900 | 500,000 | 104,900 | ||
| Decrease/Increase in other financial debts | 58,832 | 54,098 | (89,136) | 78,989 | 147,967 |
| Interest expense paid | (102,158) | (109,302) | 7,145 | ||
| Dividends paid | (93,212) | (93,212) | (73,795) | (73,795) | (19,417) |
| TOTAL CASH FLOW FROM FINANCING ACTIVITIES | (19,384) | (39,114) | (85,875) | 5,194 | 66,491 |
| Cash flow for the period | (227,028) | (25,408) | (293,223) | (37,635) | 66,195 |
| Net opening balance of cash and cash equivalents | 835,693 | 1,068,138 | (232,445) | ||
| Cash availability from acquisition | 33,544 | 60,778 | (27,234) | ||
| Net closing balance of cash and cash equivalents | 642,209 | 835,693 | (193,484) |
| € thousand | Share capital | Legal reserve | Other reserves | Profit for the period | Total | Minority interests | Total shareholders' equity |
|---|---|---|---|---|---|---|---|
| Balance as at 1 January 2020 | 1,098,899 | 119,336 | 363,605 | 272,932 | 1,854,772 | 251,938 | 2,106,710 |
| Income statement profit | 0 | 0 | 0 | 284,948 | 284,948 | 41,609 | 326,558 |
| Other comprehensive income (loss) | 0 | 0 | 0 | (2,502) | (2,502) | (1,044) | (3,546) |
| Total comprehensive income (loss) | 0 | 0 | 0 | 282,446 | 282,446 | 40,566 | 323,012 |
| Allocation of result for 2019 | 0 | 10,424 | 262,507 | (272,932) | 0 | 0 | 0 |
| Distribution of dividends | 0 | 0 | (165,788) | 0 | (165,788) | (12,141) | (177,929) |
| Change in scope of consolidation | 0 | 0 | 0 | 0 | 0 | 78,093 | 78,093 |
| Other changes | 0 | 0 | (6,601) | 0 | (6,601) | (27) | (6,628) |
| Balance as at 31 December 2020 | 1,098,899 | 129,761 | 453,724 | 282,446 | 1,964,829 | 358,429 | 2,323,258 |
| € thousand | Share capital | Legal reserve | Other reserves | Profit for the period | Total | Minority interests | Total shareholders' equity |
|---|---|---|---|---|---|---|---|
| Balance as at 1 January 2019 | 1,098,899 | 111,948 | 235,897 | 282,895 | 1,729,638 | 173,853 | 1,903,491 |
| Income statement profit | 0 | 0 | 0 | 283,686 | 283,686 | 23,491 | 307,177 |
| Other comprehensive income (loss) | 0 | 0 | 0 | (10,754) | (10,754) | 344 | (10,411) |
| Total comprehensive income (loss) | 0 | 0 | 0 | 272,932 | 272,932 | 23,834 | 296,766 |
| Allocation of result for 2018 | 0 | 7,389 | 275,506 | (282,895) | 0 | 0 | 0 |
| Distribution of dividends | 0 | 0 | (150,909) | 0 | (150,909) | (7,990) | (158,899) |
| Change in scope of consolidation | 0 | 0 | 3,736 | 0 | 3,736 | 62,736 | 66,472 |
| Other changes | 0 | 0 | (625) | 0 | (625) | (495) | (1,120) |
| Balance as at 31 December 2019 | 1,098,899 | 119,336 | 363,605 | 272,932 | 1,854,772 | 251,938 | 2,106,710 |
