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AUDAX RENOVABLES, S.A.

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Audax Renovables S A : Alternative Perfomance Measures – Reconciliations H1 2021.

09/30/2021 | 03:22am EDT

ALTERNATIVE PERFORMANCE MEASURES

FIRST HALF 2021

Alternative Performance Measures

First half 2021

APM Reconciliation

AUDAX RENOVABLES reports on Alternative Performance Measures (APM) in order to supplement the financial statements presented in accordance with the International Financial Reporting Standards adopted by the European Union (IFRS-EU). These measures, in addition to the financial measures and in compliance with (IFRS-EU), are used for the purpose of establishing budgets and goals and of managing business, assessing its financial and operating performance and comparing it with previous periods and with the performance of the competitors. The presentation of such measures is assumed to be helpful because they can be used for analysis and comparison of profitability between companies and industries,

as the impact of the financial structure and of the accounting effects other than cash flows are excluded.

Non-financial measures are also presented, because these and other similar measures are generally used by investors, securities analysts and other brokers as complementary performance measures.

In general, these APM are used by the Management so there is direct traceability to the consolidated income statement and no reconciliation is needed.

The APM that the Group considers most important are set out below:

Consolidated Income Statement

1H2021

1H2020

Var. (%)

Operating income

692,082

403,801

71

Gross Margin

53,948

53,005

2

EBITDA

18,208

22,704

-20

EBIT

8,407

12,818

-34

EUR thousands

1

Alternative Performance Measures

First half 2021

APM Reconciliation

The conciliation between EBITDA and the net consolidated profit is the following:

1H2021

1H2020

EBITDA

18,208

22,704

Assets amortisation

-9,801

-9,886

EBIT

8,407

12,818

Financial income

328

2,069

Financial expenses

-12,419

-7,941

Exchange differences

-705

-27

Profit/loss from disposal of financial instruments

579

-678

Financial profit/loss

-12,217

-6,577

Share in the profit/loss of associated companies

-25

-15

Profit/loss before tax

-3,835

6,226

Corporate income tax

-546

-58

Consolidated profit/loss for the year

-4,381

6,168

Profit/loss attributed to minority interests

784

-2,098

Net Profit / Loss

-3,597

4,070

EUR thousands

Net Financial Debt:

Net Financial Debt

jun-21

dec-20

Var.

%

Non-current financial liabilities

572,010

461,267

110,743

24.0

Debt of bonds and other marketable securities

476,615

371,123

105,492

28.4

Bank loans

82,358

82,339

19

0.0

Financial leases liabilities (IFRS 16)

12,609

7,801

4,808

61.6

Other financial liabilities

428

4

424

n.a.

Current financial liabilities

243,886

192,089

51,797

27.0

Debt of bonds and other marketable securities

200,950

136,754

64,196

46.9

Bank loans

30,994

53,649

-22,655

-42.2

Financial leases liabilities (IFRS 16)

1,279

1,132

147

13.0

Other financial liabilities

10,663

554

10,109

n.a.

Derivatives

-3,367

2,451

-5,818

n.a.

Cash and financial assets equivalents

-439,009

-451,963

12,954

-2.9

Current financial assets

-99,310

-83,730

-15,580

18.6

Cash and cash equivalents

-339,699

-368,233

28,534

-7.7

Net Financial Debt *

373,520

203,844

169,676

83.2

Of the Parent Company

133,848

143,224

-9,376

-6.5

Of the Minority interest

10,198

7,818

2,380

30.4

Net Equity

144,046

151,042

-6,996

-4.6

Leverage ***

72.2%

57.4%

14.7

25.6

EUR thousands

  • Net Financial Debt = Non-current financial liabilities + Current financial liabilities + Derivatives + Cash and others
  • Net Equity = Net Equity of the Parent Company + of the Minority interest

*** Leverage = Net Financial Debt / (Net Financial Debt + Net Equity)

2

Alternative Performance Measures

First half 2021

APM Reconciliation

Net Financial Debt (without IFRS 16)

jun-21

dec-20

Var.

%

Net Financial Debt

359,632

194,911

164,721

84.5

Net Equity

144,046

151,042

-6,996

-4.6

Leverage

71.4%

56.3%

15,1

26.7

(miles de euros)

  • In NFD, inside Other financial liabilities includes EUR 13,888 thousands in jun-21 and EUR 8,933 thousands in dec-20 due to the application of the IFRS 16 rule regarding leases liabilities accounting treatment.

The key operating figures are the following:

Production (GWh)

1H2021

%

1H2020

%

Var. (%)

Spain

42.6

44%

35.5

35%

20

France

15.9

16%

14.8

14%

7

Poland

38.3

40%

52.7

51%

-27

Total

96.8

100%

103.0

100%

-6

3

Alternative Performance Measures

First half 2021

APM Reconciliation

Energy supply points

1H2021

1H2020

% Var.

Spain

329,484

264,466

24.6

Electricity

270,426

221,987

21.8

Gas

59,058

42,479

39.0

Hungary

79,683

0

n.a.

Electricity

79,683

0

n.a.

Gas

0

0

n.a.

Netherlands

72,868

67,966

7.2

Electricity

47,906

43,546

10.0

Gas

24,962

24,420

2.2

Italy

33,487

28,328

18.2

Electricity

21,950

16,895

29.9

Gas

11,537

11,433

0.9

Rest of Europe (RoE)

33,520

23,826

40.7

Electricity

28,830

20,685

39.4

Gas

4,690

3,141

49.3

TOTAL ENERGY SUPPLY POINTS

549,042

384,586

42.8

Total Electricity

448,795

303,113

48.1

Total Gas

100,247

81,473

23.0

Energy supplied (GWh)

1H2021

1H2020

% Var.

Spain

2,423

1,958

23.8

Electricity

1,848

1,549

19.3

Gas

576

408

40.9

Netherlands

1,843

1,737

6.1

Electricity

707

732

-3.4

Gas

1,136

1,005

13.1

Hungary

2,498

0

n.a.

Electricity

2,498

0

n.a.

Gas

0

0

n.a.

Rest of Europe (RoE)

1,112

677

64.3

Electricity

602

454

32.4

Gas

511

223

n.a.

TOTAL ENERGY SUPPLIED

7,877

4,372

80.2

Total Electricity

5,655

2,736

n.a.

Total Gas

2,222

1,636

35.8

4

Disclaimer

Audax Renovable SA published this content on 29 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2021 07:21:05 UTC.


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