Siemens Gamesa Renewable Energy S A : First semester - Interim condensed consolidated financial statements

Siemens Gamesa Renewable Energy, S.A. and subsidiaries composing the SIEMENS GAMESA Group

Interim Condensed Consolidated Financial Statements and Interim Consolidated Management´s Report for the 6-month period ended March 31, 2021

TABLE OF CONTENTS

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE 6-MONTH PERIOD ENDED MARCH 31, 2021

SELECTED EXPLANATORY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE 6-MONTH PERIOD ENDED MARCH 31, 2021:

1.

Formation of the Group and its activities .....................................................................................................

6

2. Basis of presentation of the Interim Condensed Consolidated Financial Statements and basis of

	consolidation..............................................................................................................................................	8
3.	Accounting principles and policies and key judgments and estimates .........................................................	12
4.	Acquisitions, disposals and discontinued operations..................................................................................	13
5.	Financial Risk Management......................................................................................................................	14
6.	Cash and other cash equivalents ..............................................................................................................	19
7.	Financial instruments by category .............................................................................................................	19
8.	Derivative financial instruments.................................................................................................................	21
9.	Customer contracts ..................................................................................................................................	23
10.	Inventories ...............................................................................................................................................	23
11.	Goodwill...................................................................................................................................................	24
12.	Other intangible assets.............................................................................................................................	25
13.	Property, plant and equipment ..................................................................................................................	26
14.	Investments accounted for using the equity method...................................................................................	26
15.	Other non-current financial assets.............................................................................................................	28
16.	Debt with financial institutions and other obligations ..................................................................................	29
17.	Provisions ................................................................................................................................................	31
18.	Equity of the parent company ...................................................................................................................	32
19.	Financial reporting by segment .................................................................................................................	37
20.	Related party balances and transactions...................................................................................................	39
21.	Directors' remuneration ............................................................................................................................	47
22.	Remuneration of Top Management ...........................................................................................................	48
23.	Number of employees ..............................................................................................................................	49
24.	Subsequent events...................................................................................................................................	49
25.	Explanation added for translation to English ..............................................................................................	50

INTERIM CONSOLIDATED MANAGEMENT REPORT FOR THE 6-MONTH PERIOD ENDED MARCH 31, 2021