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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 € thousand31/12/2020Of which related party transactions31/12/2019Of which related party transactionsChange
Revenue from sales and services3,205,492 3,021,843 183,648
Other revenue and income173,900 164,293 9,607
Consolidated net revenues3,379,392103,8223,186,13687,443193,256
Cost of labor267,651 249,275 18,376
Costs of materials and overheads1,986,927 1,936,030 50,896
Consolidated Operating Costs2,254,57753,7432,185,30639,34969,272
Net income/(costs) from commodity risk management330 99 231
Income/(Costs) from equity investments of a non-financial nature30,319 41,367 (11,048)
EBITDA1,155,46350,0791,042,29748,093113,166
Net write-downs (write-backs) of trade receivables79,442 61,697 17,745
Depreciation, amortisation and provisions541,042 457,376 83,666
Operating profit/(loss)534,98050,079523,22448,09311,756
Financial income10,0461,91010,6705,194(624)
Financial costs(98,064)0(106,089)(407)8,025
Income/(Costs) from equity investments14,243 2,585 11,659
Profit/(loss) before tax461,20551,989430,39052,88030,816
Income taxes134,648 123,213 11,435
Net profit/(loss)326,55851,989307,17752,88019,381
Net profit/(loss) from discontinued operations     
Net profit/(loss)326,55851,989307,17752,88019,381
Profit/(loss) attributable to non-controlling interests41,609 23,491 18,119
Net profit/(loss) attributable to the Group284,948 283,686 1,262
Earnings (loss) per share attributable to Parent Company's shareholders     
Basic1.33801 1.33208 0.00593
Diluted1.33801 1.33208 0.00593
Earnings (loss) per share attributable to Parent Company's shareholders, net of Treasury Shares     
Basic1.34063 1.33469 0.00594
Diluted1.34063 1.33469 0.00594

€ thousand31/12/202031/12/2019Change
Net income for the period326,558307,17719,381
Profit/Loss from conversion of financial statements expressed in foreign currency(5,983)367(6,349)
Reserve for exchange differences5,740(5,299)11,040
Tax reserve for exchange differences(1,378)1,272(2,650)
Gains/losses from exchange rate difference4,363(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 effect1,578(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 plans1,416585832
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/loss323,012296,76626,246
Total comprehensive income (loss) attributable to:   
Group282,446272,9329,515
Minority interests40,56623,83416,731

ASSETS31/12/2020of which with related parties31/12/2019of which with related partiesChange
Tangible fixed assets2,786,645 2,609,485 177,161
Real estate investments2,372 2,431 (58)
Goodwill223,713 182,902 4,081
Concessions and rights on infrastructure2,835,766 2,484,483 351,284
Intangible fixed assets313,232 222,358 90,873
Right of use73,660 63,397 10,263
Equity investments in unconsolidated subsidiaries and associates276,362 268,039 8,323
Other equity investments31,100 2,772 328
Deferred tax assets235,012 237,693 (2,681)
Financial assets38,78121,15647,20226,144(8,421)
Other assets522,36021,1566,501,42926,144809,575
Inventories91,973 57,335 34,638
Trade receivables981,50972,0801,035,46299,798(53,954)
Other current assets257,442 212,956 44,486
Current tax assets9,618 2,710 (271)
Current financial assets379,859143,097299,212121,96880,647
Cash and cash equivalents642,209 835,693 (193,484)
CURRENT ASSETS2,362,610215,1772,452,987221,766(90,376)
Non-current assets held for sale0 0 0
TOTAL ASSETS9,673,614236,3338,954,416247,910719,198

Amounts in € thousand

LIABILITIES31/12/2020of which with related parties31/12/2019of which with related partiesChange
Shareholders' Equity     
Share capital1,098,899 1,098,899 0
Legal reserve129,761 119,336 10,424
Other reserves(224,509) (209,562) (14,947)
Retained earnings/(losses)675,731 562,413 113,318
Profit (loss) for the year284,948 283,686 1,262
Total Group shareholders' equity1,964,829 1,854,772 110,058
Minority interests358,429 251,938 106,491
Total shareholders' equity2,323,258 2,106,710 216,548
Employee severance indemnity and other defined-benefit
plans		122,047 104,613 17,434
Provision for risks and charges156,951 151,418 5,533
Borrowings and financial liabilities4,154,251 3,551,889 602,362
Other liabilities405,799 391,100 14,699
NON-CURRENT LIABILITIES4,839,048 4,199,020 640,027
Financial payables419,822133,714674,36479,616(254,542)
Payables to suppliers1,627,11977,2301,600,263111,31926,856
Tax payables40,217 11,977 28,240
Other current liabilities42,415 362,082 62,068
CURRENT LIABILITIES2,511,308210,9442,648,685190,935(137,378)
Liabilities directly associated with assets held for sale0 0 0
TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY		9,673,614210,9448,954,416190,935719,198

Amounts in € thousand

€ thousand31/12/2020Related parties31/12/2019Related partiesChange
Cash flow from operating activities     
Profit before tax461,205 430,390 30,816
Depreciation/amortisation and impairment charges498,257 409,557 88,700
Write-ups/write-downs34,879 22,862 12,017
Change in provisions for risks3,362 5,268 (1,906)
Net change in the provision for employee benefits18,737 (10,708) 29,444
Net financial interest88,018 90,302 (2,284)
Income taxes paid(119,424) (132,617) 13,193
Financial flows generated by operating activities before changes985,0340815,0540169,980
Increase/Decrease in receivables included in current assets21,97627,718(118,892)(15,816)140,867
Increase/Decrease in payables included in the working capital30,699(34,089)41,729(13,180)(11,030)
Increase/Decrease in inventories(28,367) (7,447) (20,919)
Change in working capital24,308(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 ACTIVITIES826,742(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 dividends29,84829,84816,78716,78713,061
Interest income collected14,990 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 term604,900 500,000 104,900
Decrease/Increase in other financial debts58,83254,098(89,136)78,989147,967
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)5,19466,491
Cash flow for the period(227,028)(25,408)(293,223)(37,635)66,195
Net opening balance of cash and cash equivalents835,693 1,068,138 (232,445)
Cash availability from acquisition33,544 60,778 (27,234)
Net closing balance of cash and cash equivalents642,209 835,693 (193,484)

€ thousandShare capitalLegal reserveOther reservesProfit for the periodTotalMinority interestsTotal shareholders' equity
Balance as at 1 January 20201,098,899119,336363,605272,9321,854,772251,9382,106,710
Income statement profit000284,948284,94841,609326,558
Other comprehensive income (loss)000(2,502)(2,502)(1,044)(3,546)
Total comprehensive income (loss)000282,446282,44640,566323,012
Allocation of result for 2019010,424262,507(272,932)000
Distribution of dividends00(165,788)0(165,788)(12,141)(177,929)
Change in scope of consolidation0000078,09378,093
Other changes00(6,601)0(6,601)(27)(6,628)
Balance as at 31 December 20201,098,899129,761453,724282,4461,964,829358,4292,323,258

€ thousandShare capitalLegal reserveOther reservesProfit for the periodTotalMinority interestsTotal shareholders' equity
Balance as at 1 January 20191,098,899111,948235,897282,8951,729,638173,8531,903,491
Income statement profit000283,686283,68623,491307,177
Other comprehensive income (loss)000(10,754)(10,754)344(10,411)
Total comprehensive income (loss)000272,932272,93223,834296,766
Allocation of result for 201807,389275,506(282,895)000
Distribution of dividends00(150,909)0(150,909)(7,990)(158,899)
Change in scope of consolidation003,73603,73662,73666,472
Other changes00(625)0(625)(495)(1,120)
Balance as at 31 December 20191,098,899119,336363,605272,9321,854,772251,9382,106,710

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