Talgo S A : Abbreviated Consolidated Interim Financial Statements

TALGO, S.A. AND SUBSIDIARIES

Abbreviated Consolidated

Interim Financial Statements

30 June 2021

*Translation of abbreviated consolidated interim financial statements originally issued in Spanish. In the event of a discrepancy, the Spanish- language version prevails".

TALGO, S.A. AND SUBSIDIARIES

ABBREVIATED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION FOR THE SIX MONTHS ENDED 30 JUNE 2021 AND 31 DECEMBER 2020

(Expressed in thousands of euros)

ASSETS	Notes	30.06.2021	31.12.2020
Non-current assets
Tangible fixed assets	4	62 493	62 136
Intangible assets	5	55 586	53 095
Goodwill	6	112 439	112 439
Investment in associates	8	30	29
Deferred tax assets	15	26 249	28 192
Other financial assets	8	1 219		1 079
		258 016	256 970
Current assets
Stock	10	150 688	145 336
Customers and other accounts receivable	9,17	315 336	260 233
Other financial assets	8	99	10 128
Asset accruals		1 861	1 899
Cash and cash equivalents	11	218 195		228 304
		686 179		645 900
TOTAL ASSETS		944 195		902 870

Notes 1 to 21 form an integral part of the abbreviated consolidated interim statement of financial position ended 30 June 2021.

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TALGO, S.A. AND SUBSIDIARIES

ABBREVIATED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION FOR THE SIX MONTHS ENDED 30 JUNE 2021 AND 31 DECEMBER 2020

(Expressed in thousands of euros)

EQUITY	Notes	30.06.2021	31.12.2020
Capital and reserves attributable to the owners of
the Parent company
Share capital	12	38 228	38 228
Share premium	12	871	871
Treasury stock	12	( 23 051)	( 23 051)
Other reserves	12	1 770	1 479
Retained earnings	12	250 294		240 142
Total equity		268 112	257 669
LIABILITIES
Non-current liabilities
Borrowings	13	290 143	265 004
Derivatives		16	48
Deferred tax liabilities	15	8 389	8 420
Provisions for other liabilities and charges	16	52 588	53 475
Government grants		3 355		2 211
Current liabilities		354 491	329 158
Suppliers and other payables	14, 17	292 388	265 143
Current tax liabilities		70	252
Borrowings	13	26 336	48 000
Provisions for other liabilities and charges	16	2 798		2 648
		321 592		316 043
Total liabilities		676 083		645 201
TOTAL EQUITY AND LIABILITIES		944 195		902 870

Notes 1 to 21 form an integral part of the abbreviated consolidated interim statement of financial position ended 30 June 2021.

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TALGO, S.A. AND SUBSIDIARIES

ABBREVIATED CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30 JUNE 2021 AND 2020

(Expressed in thousands of euros)

	Notes	30.06.2021	30.06.2020
Net turnover	3		293 323			216 625
Other income			561			1 220
Stock variation for work-in-progress and finished goods			1 867			2 498
Work performed and capitalized			6 088			3 726
Procurement costs		( 181 493)	(	128 037)
Personnel costs	18	(	70 186)	(	59 046)
Other operating expenses		(	22 391)	(	27 251)
Amortization and depreciation charge	4,5	(	9 059)	(	8 065)
Other results			391			156

Operating profit			19 101		1 826
Financial income	19		817		23
Financial expenses	19	(	4 736)	(	3 902)
Net financial result		(	3 919)	(	3 879)
Profit/(Loss) before tax			15 182	(	2 053)
Income tax charge	15	(	5 030)	(	3 651)
Profit/(Loss) for the period from continuing operations			10 152	(	5 704)
Profit/(Loss) for the period			10 152	(	5 704)
Attributable to:			10 152	(	5 704)
Owners of the parent	12
Non-controlling interests			-		-
Basic earnings/(losses) per share attributable to the owners of the
Company
Continuing operations	12		0.08	(	0.05)
Total			0.08	(	0.05)
Diluted earnings/(losses) per share attributable to the owners of the
Company
Continuing operations	12		0.08	(	0.05)
Total			0.08	(	0.05)

Notes 1 to 21 form an integral part of the abbreviated consolidated interim statement of comprehensive income for the six months ended 30 June 2021.

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TALGO, S.A. AND SUBSIDIARIES

ABBREVIATED CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30 JUNE 2021 AND 2020

(Expressed in thousands of euros)

		30.06.2021		30.06.2020
Result for the period		10 152	(	5 704)
Other comprehensive income:
Direct assignment to equity:
Cash flow hedge		32			9
Tax effect of the equity assignment	(	8)	(	2)
Transfer to results:
Cash flow hedge		-			-
Tax effect of the cash flow hedge		-			-
Foreign currency translation		267			113
Total other comprehensive Income		291			120
Total comprehensive income for the period		10 443	(	5 584)
Attributable to:
-Owners of the parent		10 443	(	5 584)
-Non-controlling interests		-			-
Total comprehensive income for the period			10 443		(	5 584)

Notes 1 to 21 form an integral part of the abbreviated consolidated interim statement of comprehensive income for the six months ended 30 June 2021.

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