Alantra Partners S A : Full year financial statement

Alantra Partners, S.A. and companies comprising the Alantra Group

Notes to the Condensed Interim Consolidated Financial Statements for the year ended

31 December 2021

Translation of a report originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the Group in Spain. The English version is only a translation of the original in Spanish for information purposes. In case of discrepancy, the Spanish version shall prevail.

Alantra Partners, S.A. and companies comprising the Alantra Group

CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 31 DECEMBER 2021 AND 2020

(Thousand euros)

	31/12/2021			31/12/2021
ASSETS	(Unaudited)	31/12/2020 (*)	LIABILITIES	(Unaudited)	31/12/2020 (*)
NON-CURRENT ASSETS	307,030	253,403	EQUITY	363,250	295,539
Intangible assets -	67,480	63,235	CAPITAL AND RESERVES -	277,889	251,699
Goodwill	66,953	62,836	Capital -	115,894	115,894
Other intangible assets	527	399	Authorised capital	115,894	115,894
Property, plant and equipment	25,851	17,165	Less: Uncalled capital	-	-
Investments accounted for using the equity method	60,839	45,266	Share premium	111,863	111,863
Non-current financial assets	149,938	125,292	Reserves	7,746	6,058
At fair value through profit or loss	59,357	77,023	Less: Treasury stock	(185)	(1,535)
At fair value through other comprehensive income	77,703	44,603	Profit (loss) for the period attributable to the parent	56,082	29,026
At amortised cost	12,878	3,666	Less: Interim dividend	(13,511)	(9,607)
Deferred tax assets	2,922	2,445	Other equity instruments	-	-
			ACCUMULATED OTHER COMPREHENSIVE INCOME -	8,640	(3,287)
			Items that are not reclassified to profit or loss for the period	6,299	1,250
			Equity instruments through other comprehensive income	6,299	1,250
			Items that may subsequently be reclassified to profit or loss for the period	2,341	(4,537)
			Translation differences	2,341	(4,537)
			EQUITY ATTRIBUTABLE TO THE PARENT	286,529	248,412
			NON-CONTROLLING INTERESTS	76,721	47,127
			NON-CURRENT LIABILITIES	54,324	27,827
			Non-current provisions	15,762	9,269
			Non-current financial liabilities	36,514	18,021
			Debt with financial institutions and bonds and other marketable securities	-	-
			Other financial liabilities	36,514	18,021
CURRENT ASSETS	263,217	154,296	Deferred tax liabilities	2,048	537
Non-current assets held for sale	-	13,912	Other non-current liabilities	-	-
Trade and other receivables	77,125	48,876
Trade receivables	60,783	36,593	CURRENT LIABILITIES	152,673	84,333
Other receivables	3,730	2,064	Liabilities associated with non-current assets held for sale	-	7,747
Current tax assets	12,612	10,219	Current financial liabilities	7,345	5,937
Current financial assets	467	662	Debt with financial institutions and bonds and other marketable securities	-	-
At fair value through profit or loss	-	-	Other financial liabilities	7,345	5,937
At fair value through other comprehensive income	-	-	Trade and other payables	143,987	69,490
At amortised cost	467	662	Suppliers	13,735	9,109
Current derivatives	-	-	Other payables	118,249	56,248
Other current assets	1,874	1,262	Current tax liabilities	12,003	4,133
Cash and cash equivalents	183,751	89,584	Other current liabilities	1,341	1,159
TOTAL ASSETS	570,247	407,699	TOTAL EQUITY AND LIABILITIES	570,247	407,699

(*) Presented solely and exclusively for comparison purposes

CONSOLIDATED PROFIT AND LOSS STATEMENTS

FOR THE YEARS ENDED 31 DECEMBER 2021 AND 2020

(Thousand euros)

	31/12/2021
	(Unaudited)	31/12/2020 (*)
Revenue	315,200	177,862
Other operating revenue	208	45
Other current revenues	208	45
Personnel expenses	(188,190)	(109,608)
Other operating expenses	(35,802)	(25,436)
Amortisation charge	(6,884)	(6,010)
Depreciation	(683)	(1,053)
Impairment and gain (loss) on disposal of fixed assets	406	-
Other profit (loss)	-	-
OPERATING PROFIT (LOSS)	84,255	35,800
Finance income	827	2,457
Finance costs	(224)	(343)
Changes in fair value of financial instruments	787	252
Gain (loss) from reclassification of financial assets at amortised cost
to financial assets at fair value	-	-
Gain (loss) from reclassification of financial assets at fair value through other
comprehensive income to financial assets at fair value	-	-
Exchange differences	(193)	485
Impairment loss/reversal on financial instruments	(171)	(1,593)
Gain (loss) on disposal of financial instruments	2,027	19
Financial instruments at amortised cost	-	-
Other financial instruments	2,027	19
NET FINANCE INCOME (COSTS)	3,053	1,277
Profit (loss) of equity-accounted investees	8,354	4,112
PROFIT (LOSS) BEFORE TAX	95,662	41,189
Income tax expense	(21,607)	(7,534)
PROFIT (LOSS) FOR THE PERIOD FROM CONTINUING ACTIVITIES	74,055	33,655
Profit (loss) for the period from discontinued operations, net of tax	-	-
CONSOLIDATED PROFIT (LOSS) FOR THE PERIOD	74,055	33,655
Profit (loss) attributable to the parent	56,082	29,026
Profit (loss) attributable to non-controlling interests	17,973	4,629
EARNINGS PER SHARE
Basic	1.45	0.75
Diluted	1.45	0.75

(*) Presented solely and exclusively for comparison purposes

Alantra Partners, S.A. and companies comprising the Alantra Group

CONSOLIDATED OTHER COMPREHENSIVE INCOME FOR THE YEARS ENDED 31 DECEMBER 2021 AND 2020(Thousand euros)

	31/12/2021
	(Unaudited)	31/12/2021 (*)
CONSOLIDATED PROFIT (LOSS) FOR THE PERIOD	74,055	33,655
OTHER COMPREHENSIVE INCOME - ITEMS THAT ARE NOT RECLASSIFIED TO PROFIT OR LOSS	10,721	(1,270)
	-	-
From revaluation/(reversal of revaluation) of property, plant and equipment and intangible assets	-	-
From actuarial gains and losses
Share in other comprehensive income of investments in joint ventures and associates	-	-
Equity instruments through other comprehensive income	6,733	(1,309)
Other income and expenses that are not reclassified to profit or loss	5,672	(32)
Tax effect	(1,684)	71
OTHER COMPREHENSIVE INCOME - ITEMS THAT MAY SUBSEQUENTLY BE RECLASSIFIED TO PROFIT OR	6,878	(5,581)
LOSS
Hedging transactions:	-	-
Valuation gains/(losses)	-	-
Amounts transferred to profit or loss	-	-
Amounts transferred to initial carrying amount of hedged items	-	-
Other reclassifications	-	-
Translation differences:	6,878	(5,581)
Valuation gains/(losses)	6,878	(5,581)
Amounts transferred to profit or loss	-	-
Other reclassifications	-	-
Share in other comprehensive income of investments in joint ventures and associates:	-	-
Valuation gains/(losses)	-	-
Amounts transferred to profit or loss	-	-
Other reclassifications	-	-
Debt instruments at fair value through other comprehensive income:	-	-
Valuation gains/(losses)	-	-
Amounts transferred to profit or loss	-	-
Other reclassifications	-	-
Other income and expenses that may subsequently be reclassified to profit or loss:	-	-
Valuation gains/(losses)	-	-
Amounts transferred to profit or loss	-	-
Other reclassifications	-	-
Tax effect	-	-
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	91,654	26,804
Attributable to the parent	68,009	22,207
Attributable to non-controlling interests	23,645	4,597

(*) Presented solely and exclusively for comparison purposes

Alantra Partners, S.A. and companies comprising the Alantra Group

CONSOLIDATED STATEMENT OF TOTAL CHANGES IN EQUITY

FOR THE YEARS ENDED 31 DECEMBER 2021 AND 2020

(Thousand euros)

			Equity attributable to the parent
			Capital and Reserves
		Share		Profit (loss) for		Valuation	Non-controlling	Total Equity
		premium and	Treasury	the period attributable	Other equity	adjustments	interests
	Capital	Reserves	stock	to the parent	instruments
CLOSING BALANCE AT 31 DECEMBER 2019 (*)	115,894	52,859	(177)	40,134	-	3,532	10,368	222,610
Adjustments for changes in accounting policy	-	-	-	-	-	-	-	-
Adjustments for errors	-	-	-	-	-	-	-	-
ADJUSTED OPENING BALANCE AT 1 JANUARY 2020 (*)	115,894	52,859	(177)	40,134	-	3,532	10,368	222,610
Total comprehensive income for the period	-	-	-	29,026	-	(6,819)	4,597	26,804
Transactions with shareholders or owners:
- Capital increases/(reductions)	-	-	-	-	-	-	-	-
- Conversion of financial liabilities into equity	-	-	-	-	-	-	-	-
- Distribution of dividends	-	(9,607)	-	(6,972)	-	-	-	(16,579)
- Net trading with treasury stock	-	-	(1,358)	-	-	-	-	(1,358)
- Increases/(decrease) for business combinations	-	-	-	-	-	-	-	-
- Other transactions with shareholders or owners	-	-	-	-	-	-	32,162	32,162
Other changes in equity
- Equity-settledshare-based payment	-	-	-	-	-	-	-	-
- Transfers between equity accounts	-	-	-	-	-	-	-	-
- Other changes	-	65,062	-	(33,162)	-	-	-	31,900
CLOSING BALANCE AT 31 DECEMBER 2020 (*)	115,894	108,314	(1,535)	29,026	-	(3,287)	47,127	295,539
Adjustments for changes in accounting policy (note 2.4)	-	-	-	-	-	-	-	-
Adjustments for errors	-	-	-	-	-	-	-	-
ADJUSTED OPENING BALANCE AT 1 JANUARY 2021 (*)	115,894	108,314	(1,535)	29,026	-	(3,287)	47,127	295,539
Total comprehensive income for the period	-	-	-	56,082	-	11,927	23,645	91,654
Transactions with shareholders or owners:
- Capital increases/(reductions)	-	-	-	-	-	-	-	-
- Conversion of financial liabilities into equity	-	-	-	-	-	-	-	-
- Distribution of dividends	-	(13,511)	-	(15,012)	-	-	-	(28,523)
- Net trading with treasury stock	-	2,534	1,350	-		-	-	3,884
- Increases/(decrease) for business combinations	-	-	-	-	-	-	-	-
- Other transactions with shareholders or owners	-	-	-	-	-	-	5,949	5,949
Other changes in equity
- Equity-settledshare-based payment	-	-	-	-	-	-	-	-
- Transfers between equity accounts	-	-	-	-	-	-	-	-
- Other changes	-	8,761	-	(14,014)	-	-	-	(5,253)
CLOSING BALANCE AT 31 DECEMBER 2021 (*) (**)	115,894	106,098	(185)	56,082	-	8,640	76,721	363,250

1. Presented solely and exclusively for comparison purposes (**) Unaudited