Grenergy Renovables S A : Consolidated financial statements 2023

GRENERGY RENOVABLES, S.A.

AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS AND MANAGEMENT

REPORT FOR THE YEAR ENDED

DECEMBER 31, 2023

GRENERGY RENOVABLES, S.A. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AT DECEMBER 31, 2023 AND 2022

(Thousands of euros)

ASSETS	Notes	12.31.2023	12.31.2022
NON-CURRENT ASSETS
	877,920	681,842
Intangible assets	Note 7	5,769	248
Software		61	238
Patents, licenses, trademarks, et al.	Note 5	10	10
Goodwill	5,698
Property, plant, and equipment	Note 6	729,981	582,149
Land and buildings		17	96
Plant and other PP&E		607,355	412,192
PP&E under construction and prepayments		122,609	169,861
Right-of-use assets	Note 8	33,829	28,175
Investments accounted for using the equity method	Note 9	-	4,515
Financial investments	Note 9	64,236	19,428
Equity instruments		40	40
Derivatives		63,467	16,444
Other financial assets		729	2,944
Deferred tax assets	Note 19	44,105	47,327
CURRENT ASSETS
	388,416	205,139
Inventories	Note 10	142,847	6,611
Raw materials and other consumables		20	2,157
Plant under construction		135,943	100
Prepayments to suppliers		6,884	4,354
Trade and other receivables	Note 11	112,134	80,049
Trade receivables	44,517	47,880
Other accounts receivable		343	159
Receivables from employees	Note 19	211	6
Current tax assets	16,084	2,528
Other receivables from public administrations	Note 19	50,979	29,476
Financial investments	Note 9	9,913	11,972
Loans to companies		66	727
Derivatives		1,220	1,501
Other financial assets		8,627	9,744
Accruals		2,071	837
Cash and cash equivalents	Note 12	121,451	105,670
Cash in hand		108,071	105,670
Cash equivalents		13,380	-
TOTAL ASSETS		1,266,336	886,981

The accompanying notes 1 to 25 and appendices are an integral part of the consolidated statement of financial position for the years ended December 31, 2023 and 2022.

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GRENERGY RENOVABLES, S.A. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AT DECEMBER 31, 2023 AND 2022

(Thousands of euros)

EQUITY AND LIABILITIES	Notes	12.31.2023	12.31.2022
EQUITY
	343,730	244,815
Equity attributed to the Parent company		343,972	245,053
Capital and reserves		298,340	268,257
Share capital	Note 13.1	10,714	10,714
Issued capital		10,714	10,714
Share premium	Note 13.2	198,912	198,912
Reserves	Note 13.3	70,635	68,056
(Shares and participation units of the Parent company)	Note 13.4	(32,988)	(19,728)
Profit for the year attributed to the Parent company		51,067	10,303
Unrealized gains (losses) reserve	Note 14	45,632	(23,204)
Hedging transactions		46,858	(25,617)
Currency translation differences		(1,226)	2,413
Minority interests	Note 15	(242)	(238)
NON-CURRENT LIABILITIES
	584,596	420,896
Provisions	Note 16	14,308	16,354
Borrowings	Note 17	536,550	384,119
Bonds and other marketable debt securities		51,915	83,231
Bank borrowings		433,791	254,229
Lease liabilities		50,844	26,073
Derivatives		-	20,586
Deferred tax liabilities	Note 19	33,738	20,423
CURRENT LIABILITIES
	338,010	221,270
Provisions	Note 16	607	8,153
Borrowings	Note 17	220,496	118,612
Bonds and other marketable debt securities		68,430	34,529
Bank borrowings		144,186	46,307
Lease liabilities		3,043	1,505
Derivatives		3,932	36,141
Other financial liabilities		905	130
Trade and other payables		116,907	94,505
Suppliers		103,776	85,050
Other accounts payable		5,397	5,644
Employee benefits payable	Note 19	2,550	1,745
Current income tax liabilities	2,546	293
Other payables to public administrations	Note 19	2,556	1,484
Customer advances		82	289
TOTAL EQUITY AND LIABILITIES		1,266,336	886,981

The accompanying notes 1 to 25 and appendices are an integral part of the consolidated statement of financial position for the years ended December 31, 2023 and 2022.

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