Annual Financial Statements
We confirm that the attached Financial Statements are those approved by the Board of Directors of «MYTILINEOS S.A.» at 23.02.2022 and have been published to the website as well as to the website of Athens Stock Exchange.
| MYTILINEOS GROUP | MYTILINEOS S.A. | |||||
|---|---|---|---|---|---|---|
| (Amounts in thousands €) | 1/1-31/12/2021 | 1/1-31/12/2020 | 1/1-31/12/2021 | 1/1-31/12/2020 | ||
| Sales | 3.1 | 2,664,050 | 1,898,623 | 2,110,652 | 1,395,528 | |
| Cost of sales | 3.20 | (2,298,883) | (1,559,617) | (1,886,042) | (1,167,900) | |
| Gross profit | 365,167 | 339,006 | 224,610 | 227,628 | ||
| Other operating income | 3.22 | 26,318 | 39,688 | 18,270 | 28,780 | |
| Distribution expenses | 3.21 | - | (6,481) | - | (4,888) | |
| Administrative expenses | 3.21 | (83,273) | (115,489) | (75,665) | (85,964) | |
| Research & Development expenses | (275) | (259) | - | - | ||
| Other operating expenses | 3.22 | (29,340) | (31,817) | (23,924) | (24,263) | |
| Earnings before interest and income tax | 278,597 | 224,647 | 143,291 | 141,293 | ||
| Financial income | 3.23 | 6,512 | 49,955 | 751 | 14,399 | |
| Financial expenses | 3.23 | (58,771) | (67,830) | (37,218) | (33,182) | |
| Other financial results | 3.24 | (6,259) | (35,646) | (8,488) | (34,154) | |
| Share of profit of associates | 3.7 | 1,055 | 1,155 | - | - | |
| Profit before income tax | 221,134 | 172,280 | 98,335 | 88,356 | ||
| Income tax expense | 3.25 | (40,527) | (28,396) | (16,931) | (18,630) | |
| Profit for the period | 180,607 | 143,884 | 81,404 | 69,726 | ||
| Result from discontinuing operations | 3.28 | (502) | (1,488) | - | - | |
| Profit for the period | 180,105 | 142,396 | 81,404 | 69,726 | ||
| Attributable to: | ||||||
| Equity holders of the parent | 3.26 | 162,170 | 128,830 | 81,404 | 69,726 | |
| Non controlling Interests | 17,935 | 13,566 | - | - | ||
| Basic earnings per share | 1.1927 | 0.9129 | 0.5987 | 0.4937 | ||
| Earnings per share | 1.1927 | 0.9129 | 0.5987 | 0.4937 | ||
| Summury of Results from continuing operations | ||||||
| Oper.Earnings before income tax,financial results,depreciation and amortization (EBITDA) | 358,508 | 314,993 | 199,773 | 203,167 | ||
| Earnings before interest and income tax | 278,597 | 224,647 | 143,291 | 141,293 | ||
| Profit before income tax | 221,134 | 172,280 | 98,335 | 88,356 | ||
| Profit for the period | 180,607 | 143,884 | 81,404 | 69,726 | ||
| Definition of line item: OperEarnings before income tax,financ.res,depr&amort. (EBITDA) | ||||||
| Profit before income tax | 221,134 | 172,280 | 98,335 | 88,356 | ||
| Plus: Financial results | 58,518 | 53,521 | 44,955 | 52,937 | ||
| Plus: Capital results | (1,055) | (1,155) | - | - | ||
| Plus: Depreciation | 80,081 | 90,224 | 56,483 | 61,874 | ||
| Subtotal | 358,678 | 314,871 | 199,773 | 203,167 | ||
| Plus: Other operating results (ΙΙ) | (170) | 122 | - | - | ||
| Oper.Earnings before income tax,financial results,depreciation and amortization (EBITDA) | 358,508 | 314,993 | 199,773 | 203,167 | ||
(*) The comparative amounts of Group and Company Income statement have been adjusted due to the change in accounting policy of IAS 19.
The notes on pages 190 to 277 are an integral part of these financial statements.
(*) The Group defines the «Group EBITDA» quantity as profits/losses before tax, adjusted for financial and investment results; for total depreciation (of tangible and intangible fixed assets) ; for the effect of specific factors, i.e. shares in the operational results of associates when they are engaged in business in any of the business sectors of the Group, as well as for the effect of write-offs made in transactions with the aforementioned associates.
| MYTILINEOS GROUP | MYTILINEOS S.A. | ||||
|---|---|---|---|---|---|
| (Amounts in thousands €) | 1/1-31/12/2021 | 1/1-31/12/2020 | 1/1-31/12/2021 | 1/1-31/12/2020 | |
| Other Comprehensive Income: | |||||
| Net Profit/(Loss) For The Period | 180,105 | 142,396 | 81,404 | 69,726 | |
| Items that will not be reclassified to profit or loss: | |||||
| Actuarial Gain / (Losses) | 226 | (195) | 69 | (223) | |
| Deferred tax from actuarial gain/(losses) | (6) | 37 | - | (2) | |
| Revaluation Of Tangible Assets | 6 | - | - | - | |
| Gain / (Loss) From Sale Of Treasury Stock | — | - | - | - | |
| Items that may be reclassified subsequently to profit or loss: | |||||
| Exchange Differences On Translation Of Foreign Operations | 24,974 | (26,768) | - | - | |
| Other Financial Assets | - | (215) | - | - | |
| Cash Flow Hedging Reserve | (102,174) | (19,704) | (110,581) | (14,079) | |
| Deferred Tax From Cash Flow Hedging Reserve | 20,243 | 3,388 | 20,243 | 3,379 | |
| Other Comprehensive Income: | (56,731) | (43,456) | (90,269) | (10,925) | |
| Total Other Comprehensive Income | 123,375 | 98,940 | (8,865) | 58,801 | |
| Total comprehensive income for the period attributable to: | |||||
| Equity attributable to parent’s shareholders | 105,445 | 85,369 | (8,865) | 58,801 | |
| Non controlling Interests | 17,930 | 13,571 | - | - | |
(*) The comparative amounts of Group and Company Statement of Comprehensive Income have been adjusted due to the change in accounting policy of IAS 19
The notes on pages 190 to 277 are an integral part of these financial statements.
| MYTILINEOS GROUP | MYTILINEOS S.A. | |||||
|---|---|---|---|---|---|---|
| (Amounts in thousands €) | 31/12/2021 | 31/12/2020 | 31/12/2021 | 31/12/2020 | ||
| Assets | ||||||
| Non current assets | ||||||
| Tangible Assets | 3.3 | 1,428,547 | 1,161,388 | 1,047,761 | 843,469 | |
| Goodwill | 3.4 | 214,677 | 214,677 | - | - | |
| Intangible Assets | 3.5 | 231,498 | 231,735 | 86,718 | 89,531 | |
| Investments in Subsidiary Companies | 3.6 | - | - | 346,707 | 350,762 | |
| Investments in Associates | 3.7 | 20,844 | 25,181 | 12,113 | 17,212 | |
| Other Investments | 14 | - | - | - | ||
| Deferred Tax Receivables | 3.8 | 172,308 | 131,633 | 119,751 | 70,918 | |
| Other Financial Assets | 3.11.1 | 146 | 153 | 37 | 37 | |
| Derivatives | 3.11.3 | 2,159 | 1,931 | 2,159 | 1,931 | |
| Other Long-term Receivables | 3.11.4 | 70,095 | 68,527 | 65,863 | 63,792 | |
| Right-of-use Assets | 3.2 | 47,648 | 45,484 | 34,757 | 32,202 | |
| 2,187,936 | 1,880,714 | 1,715,865 | 1,469,854 | |||
| Current assets | ||||||
| Total Stock | 3.9 | 468,766 | 290,168 | 247,728 | 151,270 | |
| Trade and other receivables | 3.12 | 1,353,444 | 1,056,460 | 741,527 | 531,614 | |
| Other receivables | 3.10 | 464,733 | 262,479 | 450,951 | 230,682 | |
| Financial assets at fair value through profit or loss | 3.11.2 | 73 | 69 | 73 | 69 | |
| Derivatives | 3.11.3 | 11,510 | 9,300 | 8,341 | 9,300 | |
| Cash and cash equivalents | 3.13 | 602,712 | 492,646 | 349,853 | 198,492 | |
| 2,901,238 | 2,111,123 | 1,798,473 | 1,121,427 | |||
| Assets | 5,089,174 | 3,991,837 | 3,514,338 | 2,591,281 | ||
| Liabilities & Equity | ||||||
| Equity | ||||||
| Share capital | 3.16.1 | 138,839 | 138,839 | 138,604 | 138,604 | |
| Share premium | 190,323 | 195,223 | 124,701 | 124,701 | ||
| Fair value reserves | (103,532) | (13,301) | (104,304) | (13,966) | ||
| Treasury Stock Reserve | (80,436) | (56,795) | (80,436) | (56,795) | ||
| Equity-settled share-based payment | 4,000 | - | 4,000 | - | ||
| Other reserves | 3.16.2 | 137,043 | 126,387 | (139,637) | (140,784) | |
| Translation reserves | (13,356) | (38,337) | 2,149 | 2,149 | ||
| Retained earnings | 1,266,996 | 1,166,499 | 999,585 | 971,489 | ||
| Equity attributable to parent’s shareholders | 1,539,877 | 1,518,515 | 944,663 | 1,025,399 | ||
| Non controlling Interests | 81,028 | 63,097 | - | - | ||
| Equity | 1,620,905 | 1,581,612 | 944,663 | 1,025,399 | ||
| Non-Current Liabilities | ||||||
| Long-term debt | 3.11.5 | 1,280,403 | 911,533 | 655,505 | 284,152 | |
| Lease liabilities | 3.2 | 43,406 | 42,172 | 31,039 | 29,545 | |
| Derivatives | 3.11.3 | 26,973 | 12,647 | 26,973 | 7,507 | |
| Deferred Tax Liability | 3.8 | 209,570 | 207,335 | 149,694 | 154,563 | |
| Liabilities for pension plans | 3.17 | 9,474 | 10,207 | 7,673 | 8,597 | |
| Other long-term liabilities | 3.11.7 | 100,785 | 98,651 | 68,245 | 66,292 | |
| Provisions | 3.18 | 11,675 | 11,342 | 11,051 | 10,587 | |
| Non-Current Liabilities | 1,682,286 | 1,293,887 | 950,180 | 561,243 | ||
| Current Liabilities | ||||||
| Trade and other payables | 3.14 | 1,085,835 | 687,604 | 841,546 | 472,468 | |
| Tax payable | 3.19 | 92,019 | 70,840 | 77,704 | 54,054 | |
| Short-term debt | 3.11.5 | 40,236 | 31,246 | — | — | |
| Current portion of non-current debt | 3.11.5 | 34,689 | 37,664 | — | — | |
| Current portion of lease liabilities | 3.2 | 7,293 | 5,734 | 5,865 | 4,645 | |
| Derivatives | 3.11.3 | 117,250 | 22,230 | 117,250 | 22,100 | |
| Other payables | 3.15 | 408,401 | 260,967 | 577,129 | 451,372 | |
| Current portion of non-current provisions | 3.18 | 260 | 53 | - | — | |
| Current Liabilities | 1,785,983 | 1,116,338 | 1,619,494 | 1,004,639 | ||
| Liabilities | 3,468,269 | 2,410,225 | 2,569,674 | 1,565,882 | ||
| Liabilities & Equity | 5,089,174 | 3,991,837 | 3,514,338 | 2,591,281 | ||
(*) The comparative amounts of Group and Company Statement of Financial Position have been adjusted due to the change in accounting policy of IAS 19
The notes on pages 190 to 277 are an integral part of these financial statements.
| MYTILINEOS GROUP | |||||||||||
| (Amounts in thousands €) | Share capital | Share premium | Fair value reserves | Equity-settled share-based payment | Treasury Stock Reserve | Other reserves | Translation reserves | Retained earnings | Total | Non controlling Interests | Total |
| Adjusted Opening Balance 1st January 2020, according to IFRS — as published- | 138,839 | 193,312 | (2,571) | — | - | 129,050 | (10,925) | 1,136,640 | 1,584,343 | 49,526 | 1,633,870 |
| Adjustment due to change in accounting policy IAS 19 | — | — | — | — | — | 1,666.00 | — | 5,217.00 | 6,883,00 | — | 6,883.00 |
| Adjusted Opening Balance 1st January 2020, according to IAS 19 | 138,839 | 193,312 | (2,571) | — | — | 130,716 | (10,925) | 1,141,857 | 1,591,226 | 49,526 | 1,640,753 |
| Change In Equity | |||||||||||
| Dividends Paid | - | - | - | - | - | - | - | (51,431) | (51,431) | - | (51,431) |
| Transfer To Reserves | - | - | - | - | - | 1,064 | - | (1,159) | (95) | - | (95) |
| Treasury Stock Sales/Purchases | - | - | - | - | (56,795) | - | - | — | (56,795) | - | (56,795) |
| Impact From Acquisition Of Share In Subsidiaries | - | - | - | - | - | - | - | (49,757) | (49,757) | - | (49,757) |
| Increase / (Decrease) Of Share Capital | - | 1,911 | - | - | - | (1) | - | (1,912) | (2) | - | (2) |
| Transactions With Owners | — | 1,911 | — | — | (56,795) | 1,063 | — | (104,259) | (158,080) | — | (158,080) |
| Net Profit/(Loss) For The Period | - | - | - | - | - | - | - | 128,830 | 128,830 | 13,566 | 142,396 |
| Other Comprehensive Income: | |||||||||||
| Exchange Differences On Translation Of Foreign Operations | - | - | — | - | - | - | (27,411) | 639 | (26,772) | 5 | (26,768) |
| Other Financial Assets | - | - | — | - | - | - | - | (215) | (215) | - | (215) |
| Cash Flow Hedging Reserve | - | - | (14,117) | - | - | (5,587) | - | - | (19,704) | - | (19,704) |
| Income Tax Relating To Components Of Other Comprehensive Income | - | - | — | - | - | 353 | - | (353) | - | - | - |
| Deferred Tax From Actuarial Gain / (Losses) | - | - | — | - | - | 37 | - | - | 37 | - | 37 |
| Actuarial Gain / (Losses) | - | - | — | - | - | (195) | - | - | (195) | - | (195) |
| Dererred Tax From Cash Flow Hedging Reserve | - | - | 3,388 | - | - | - | 0 | - | 3,388 | - | 3,388 |
| Total Comprehensive Income For The Period | — | — | (10,729) | — | — | (5,392) | (27,412) | 128,901 | 85,369 | 13,571 | 98,940 |
| Adjusted Closing Balance 31/12/2020 | 138,839 | 195,223 | (13,301 ) | — | (56,795) | 126,387 | (38,337) | 1,166,499 | 1,518,515 | 63,097 | 1,581,612 |
| MYTILINEOS GROUP | |||||||||||
| (Amounts in thousands €) | Share capital | Share premium | Fair value reserves | Equity-settled share-based payment | Treasury Stock Reserve | Other reserves | Translation reserves | Retained earnings | Total | Non controlling Interests | Total |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Balance 1st January 2021, according to IFRS — as published- | 138,839 | 195,223 | (13,301) | — | (56,795) | 126,387 | (38,337) | 1,166,499 | 1,518,515 | 63,097 | 1,581,612 |
| Change In Equity | |||||||||||
| Dividends Paid | - | - | - | - | - | - | - | (53,541) | (53,541) | - | (53,541) |
| Transfer To Reserves | - | - | - | - | - | 1,013 | - | (3,268) | (2,255) | - | (2,255) |
| Equity-settled share-based payment | - | - | - | 4,000 | - | - | - | - | 4,000 | - | 4,000 |
| Treasury Stock Sales/Purchases | - | - | - | - | (23,641) | 1,095 | - | - | (22,546) | - | (22,546) |
| Increase / (Decrease) Of Share Capital | - | (4,900) | - | - | - | - | - | - | (4,900) | - | (4,900) |
| Impact From Merge Through Acquisition Of Subsidiary | - | - | - | - | - | - | - | (4,842) | (4,842) | - | (4,842) |
| Transactions With Owners | — | (4,900) | — | 4,000 | (23,641) | 2,108 | — | (61,651) | (84,084) | — | (84,084) |
| Net Profit/(Loss) For The Period | - | - | - | - | - | - | - | 162,170 | 162,170 | 17,935 | 180,105 |
| Other Comprehensive Income: | |||||||||||
| Exchange Differences On Translation Of Foreign Operations | - | - | - | - | - | - | 24,980 | - | 24,979 | (5) | 24,974 |
| Cash Flow Hedging Reserve | - | - | (110,475) | - | - | 8,301 | - | - | (102,174) | - | (102,174) |
| Income Tax Relating To Components Of Other Comprehensive Income | - | - | - | - | - | 58 | - | (58) | - | - | - |
| Deferred Tax From Actuarial Gain / (Losses) | - | - | - | - | - | (6) | - | - | (6) | - | (6) |
| Actuarial Gain / (Losses) | - | - | - | - | - | 223 | - | 2 | 226 | - | 226 |
| Revaluation Of Tangible Assets | - | - | - | - | - | (28) | - | 34 | 6 | - | 6 |
| Dererred Tax From Cash Flow Hedging Reserve | - | - | 20,243 | - | - | - | - | - | 20,243 | - | 20,243 |
| Total Comprehensive Income For The Period | — | — | (90,231) | — | — | 8,548 | 24,980 | 162,148 | 105,445 | 17,930 | 123,375 |
| Closing Balance 31/12/2021 | 138,839 | 190,323 | (103,532) | 4,000 | (80,436) | 137,043 | (13,357) | 1,266,996 | 1,539,875 | 81,027 | 1,620,905 |
(*) The comparative amounts of Group and Company Statement of changes in Equity have been adjusted due to the change in accounting policy of IAS 19
The notes on pages 190 to 277 are an integral part of these financial statements.
| MYTILINEOS S.A. | |||||||||||
| (Amounts in thousands €) | Share capital | Share premium | Fair value reserves | Equity-settled share-based payment | Treasury Stock Reserve | Other reserves | Translation reserves | Retained earnings | Total | ||
| Opening Balance 1st January 2020, according to IFRS -as published- | 138,604 | 124,701 | (3,266) | — | - | (141,885) | 2,149 | 948,945 | 1,069,249 | ||
| Adjustment due to change in accounting policy IAS 19 | — | — | — | — | — | 1,327 | — | 4,258 | 5,585 | ||
| Adjusted Opening Balance 1st January 2020, according to IAS 19 — as published- | 138,604 | 124,701 | (3,266) | — | — | (140,558) | 2,149 | 953,203 | 1,074,834 | ||
| Change In Equity | |||||||||||
| Transfer To Reserves | - | - | - | - | - | (1) | - | 1 | — | ||
| Treasury Stock Sales/Purchases | - | - | - | - | (56,795) | - | - | — | (56,795) | ||
| Transactions With Owners | - | - | - | - | (56,795) | (1) | - | (51,440) | (108,236) | ||
| Net Profit/(Loss) For The Period | - | - | - | - | - | - | - | 69,726 | 69,726 | ||
| Other Comprehensive Income: | |||||||||||
| Other Financial Assets | - | - | - | - | - | - | - | - | - | ||
| Cash Flow Hedging Reserve | - | - | (14,079) | - | - | - | - | - | (14,079) | ||
| Deferred Tax From Actuarial Gain / (Losses) | - | - | - | - | - | (2) | - | - | (2) | ||
| Actuarial Gain / (Losses) | - | - | - | - | - | (223) | - | - | (223) | ||
| Deferred Tax From Cash Flow Hedging Reserve | - | - | 3,379 | - | - | - | - | - | 3,379 | ||
| Total Comprehensive Income For The Period | - | - | (10,700) | - | - | (225) | - | 69,726 | 58,801 | ||
| Closing Balance 31/12/2020 | 138,604 | 124,701 | (13,966) | - | (56,795) | (140,784) | 2,149 | 971,489 | 1,025,399 | ||
| Opening Balance 1st January 2021, according to IFRS -as published- | 138,604 | 124,701 | (13,966) | - | (56,795) | (140,784) | 2,149 | 971,489 | 1,025,399 | ||
| Adjustment due to change in accounting policy IAS 19 | - | - | - | - | - | - | - | - | - | ||
| Adjusted Opening Balance 1st January 2021 | 138,604 | 124,701 | (13,966) | - | (56,795) | (140,784) | 2,149 | 971,489 | 1,025,399 | ||
| Change In Equity | |||||||||||
| Dividends Paid | — | — | — | — | — | — | — | — | — | ||
| Transfer To Reserves | — | — | — | — | — | (17) | — | (1,867) | (1,884) | ||
| Equity-settled share-based payment | - | - | - | 4,000 | - | - | - | - | 4,000 | ||
| Treasury Stock Sales/Purchases | - | - | - | - | (23,641) | 1,095 | - | - | (22,546) | ||
| Transactions With Owners | - | - | - | 4,000 | (23,641) | 1,078 | - | (53,308) | (71,871) | ||
| Net Profit/(Loss) For The Period | - | - | - | - | - | - | - | 81,404 | 81,404 | ||
| Other Comprehensive Income: | |||||||||||
| Cash Flow Hedging Reserve | - | - | (110,581) | - | - | - | - | - | (110,581) | ||
| Actuarial Gain / (Losses) | - | - | - | - | - | - | - | - | 69 | ||
| Deferred Tax From Cash Flow Hedging Reserve | - | - | 20,243 | - | - | - | - | - | 20,243 | ||
| Total Comprehensive Income For The Period | - | - | (90,338) | - | - | 69 | - | 81,404 | (8,865) | ||
| Closing Balance 31/12/2021 | 138.604 | 124.701 | (104.304) | 4.000 | (80.436) | (139.637) | 2.149 | 999.585 | 944,663 | ||
(*) The comparative amounts of Group and Company Cash flow Statement have been adjusted due to the change in accounting policy of IAS 19
The notes on pages 190 to 277 are an integral part of these financial statements.
| MYTILINEOS GROUP | MYTILINEOS S.A. | |||||
|---|---|---|---|---|---|---|
| (Amounts in thousands €) | 1/1-31/12/2021 | 1/1-31/12/2020 | 1/1-31/12/2021 | 1/1-31/12/2020 | ||
| Cash flows from operating activities | ||||||
| Cash flows from operating activities | 3.27 | 276,782 | 315,596 | 103,156 | 528,119 | |
| Interest paid | (23,473) | (30,750) | (14,442) | (16,065) | ||
| Taxes paid | (32,909) | (35.501) | (23,694) | (27,923) | ||
| Net Cash flows continuing operating activities | 220,400 | 249,346 | 65,019 | 484,131 | ||
| Net Cash flows discontinuing operating activities | (435) | (1,001) | — | — | ||
| Net Cash flows from continuing and discontinuing operating activities | 219,965 | 248,344 | 65,019 | 484,131 | ||
| Net Cash flow from continuing and discontinuing investing activities | ||||||
| Purchases of tangible assets | (365,147) | (136,469) | (187,666) | (107,174) | ||
| Purchases of intangible assets | (14,908) | (18,662) | (11,788) | (14,301) | ||
| Sale of tangible assets | 756 | 5,205 | 8 | 912 | ||
| Dividends received | 200 | 280 | 1,807 | 280 | ||
| Derivatives settlement | (19,483) | (48,185) | (19,483) | (48,239) | ||
| Acquisition /Sale of subsidiaries (less cash) | 7,719 | (25,451) | 7,735 | (25,515) | ||
| Sale of financial assets held-for-sale | 4 | 4 | - | - | ||
| Interest received | 513 | 3,918 | 422 | 304 | ||
| Grants received/(returns) | 4,595 | 11,592 | 1,738 | 1,045 | ||
| Other cash flows from investing activities | - | (45) | - | - | ||
| Net Cash flow from continuing investing activities | (385,751) | (207,813) | (207,226) | (192,688) | ||
| Net Cash flow from discontinuing investing activities | - | - | - | - | ||
| Net Cash flow from continuing and discontinuing investing activities | (385,751) | (207,813) | (207,226) | (192,688) | ||
| Net Cash flow continuing and discontinuing financing activities | ||||||
| Tax payments | - | (1) | - | - | ||
| Dividends paid to shareholders | (51,849) | (49,549) | (49,749) | (49,549) | ||
| Proceeds from borrowings | 975,479 | 383,403 | 903,321 | 302,096 | ||
| Repayments of borrowings | (610,682) | (480,956) | (528,306) | (376,099) | ||
| Payment of finance lease liabilities | (8,772) | (5,572) | (4,853) | (4,299) | ||
| Other cash flows from financing activities | (10) | (54,304) | - | (54,304) | ||
| Return of share capital to shareholders | (4,900) | - | - | - | ||
| Sale of treasury shares | (26,843) | (56,230) | (26,843) | (56,230) | ||
| Net Cash flow continuing financing activities | 272,423 | (263,208) | 293,569 | (238,384) | ||
| Net Cash flow from discontinuing financing activities | - | - | - | - | ||
| Net Cash flow continuing and discontinuing financing activities | 272,423 | (263,208) | 293,569 | (238.384) | ||
| Net (decrease)/increase in cash and cash equivalents | 106,637 | (222,677) | 151,362 | 53,059 | ||
| Cash and cash equivalents at beginning of period | 492,646 | 713,037 | 198,492 | 145,415 | ||
| Exchange differences in cash and cash equivalents | 3,429 | 2,286 | - | 18 | ||
| Net cash at the end of the period | 602,712 | 492,646 | 349,853 | 198,492 | ||
| Cash and cash equivalent | 602,712 | 492,646 | 349,853 | 198,492 | ||
| Net cash at the end of the period | 602,712 | 492,646 | 349,853 | 198,492 | ||
The notes on pages 190 to 277 are an integral part of these financial statements.
In 2020, cash flows from financing activities of the Group and the Company and specifically the line «Other», include repayments/(payments) of financing under trade agreements.
In 2021, the aforementioned cash flows were reclassified to cash flows from operating activities in order to better reflect the nature of the above flows related to trade agreements.
In 2021, cash flows from the Group's investing activities and specifically the line «Acquisitions of tangible assets» include the outflows from the projects of the Renewables and Storage Development sector throughout their construction period. The reclassification was conducted from cash flows from operating activities in order to better reflect the nature of the above outflows, exclusively related to the construction period of these projects.