Global Dominion Access S A : Mid Term Financial Statements 2023

GLOBAL DOMINION ACCESS, S.A. AND

SUBSIDIARIES

Abbreviated consolidated interim financial statements relating to

the six-month period ended 30 June 2023

GLOBAL DOMINION ACCESS, S.A. AND SUBSIDIARIES

INDEX OF ABBREVIATED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

ABBREVIATED CONSOLIDATED INTERIM FINANCIAL STATEMENT AT 30 JUNE, 2023	1
ABBREVIATED CONSOLIDATED INTERIM PROFIT & LOSS ACCOUNT FOR THE SIX-MONTH PERIOD
ENDED 30 JUNE, 2023	3
ABBREVIATED CONSOLIDATED INTERIM COMPREHENSIVE INCOME STATEMENT FOR THE SIX-
MONTH PERIOD ENDED 30 JUNE, 2023	4
ABBREVIATED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN NET EQUITY FOR THE SIX-
MONTH PERIOD ENDED 30 JUNE, 2023	5
ABBREVIATED CONSOLIDATED INTERIM CASH FLOW STATEMENT FOR THE SIX-MONTH PERIOD
ENDED 30 JUNE, 2023	7
EXPLANATORY NOTES FOR THE ABBREVIATED CONSOLIDATED INTERIM FINANCIAL STATEMENT
FOR THE SIX-MONTHPERIOD ENDED 30 JUNE, 2023	8
1.	GENERAL INFORMATION	8
1.1.	ACTIVITY	8
1.2.	GROUP STRUCTURE	9
1.3. CHANGES IN THE SCOPE OF CONSOLIDATION	10
1.4. PREPARATION OF THE INTERIM FINANCIAL STATEMENTS	11
2.	ABBREVIATED OF THE MAIN ACCOUNTING POLICIES	11
2.1.	BASIS OF REPORTING	11
2.2.	CONSOLIDATION PRINCIPLES	12
2.3.	SEGMENT FINANCIAL REPORTING	12
2.4. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS	12
2.5. SIGNIFICANT JUDGEMENTS WHEN APPLYING ACCOUNTING POLICIES	17
2.6. NEW IFRS STANDARDS AND IFRIC INTERPRETATIONS	17
3.	FINANCIAL RISK MANAGEMENT	18
3.1.	WORKING CAPITAL AND LIQUIDITY MANAGEMENT	18
3.2.	CREDIT RISK	20
3.3.	CLIMATE CHANGE RISK	21
3.4.	OTHER CIRCUMSTANTIAL RISKS	22
3.5.	FAIR VALUE ESTIMATION	23
4.	SEGMENT FINANCIAL REPORTING	25
5.	PROPERTY, PLANT AND EQUIPMENT	29
6.	GOODWILL AND INTANGIBLE ASSETS	31
7.	FINANCIAL ASSETS AND DERIVATIVES	33
8.	INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD	35
9.	CASH AND OTHER CASH EQUIVALENTS	37
10.	CAPITAL AND SHARE PREMIUM	37
11.	BORROWINGS	40
12.	OTHER LIABILITIES	44
13.	OBLIGATIONS TO PERSONNEL	45
14.	PROVISIONS	46
15.	TAX SITUATION	47
16.	EARNINGS PER SHARE	51
17.	CASH GENERATED FROM OPERATIONS	52
18.	COMMITMENTS, GUARANTEES AND OTHER INFORMATION	52
19.	BUSINESS COMBINATIONS	53
20.	RELATED PARTY TRANSACTIONS	56
21.	DISCONTINUED ACTIVITIES	58
22.	SUBSEQUENT EVENTS	59
ANNEX I - Subsidiary Companies within the Scope of Consolidation	60
ANNEX II - Temporary Business Associations (UTEs) included in the Scope of Consolidation	65

I.

GLOBAL DOMINION ACCESS, S.A. AND SUBSIDIARIES

ABBREVIATED CONSOLIDATED INTERIM FINANCIAL STATEMENT AT 30 JUNE, 2023

(In EUR thousand)

ASSETS		Note	30.06.2023	31.12.2022
NON CURRENT ASSETS
Property, Plant and Equipment	5	217,307	279,280
Goodwill	6	360,047	357,403
Other intangible assets	6	53,537	45,589
Non-current financial assets	7	10,297	9,555
Investments accounted for using the equity method	8	137,612	103,675
Deferred tax assets			42,443	44,165
Other non-current assets			12,508	11,450
			833,751	851,117
CURRENT ASSETS
Inventories			107,845	84,495
Trade and other receivables			356,763	248,364
Assets per contract			157,966	235,603
Other current assets			13,755	11,673
Current tax assets			25,564	38,338
Other current financial assets	7	75,285	54,084
Cash and cash equivalents	9	203,250	182,383
			940,428	854,940
Assets held for sale	21	147,737	31,571
TOTAL ASSETS			1,921,916	1,737,628

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GLOBAL DOMINION ACCESS, S.A. AND SUBSIDIARIES

ABBREVIATED CONSOLIDATED INTERIM FINANCIAL STATEMENT AT 30 JUNE, 2023

(In EUR thousand)

NET EQUITY AND LIABILITIES		Note	30.06.2023	31.12.2022
NET EQUITY
Net equity attributable to parent company's shareholders
Share capital	10	19,083	19,083
Own shares	10	(11,441)	(3,044)
Share premium	10	79,640	194,640
Retained earnings			237,335	114,213
Cumulative exchange differences			(20,249)	(31,365)
Net equity attributable to parent company's shareholders			304,368	293,527
Non-controlling shares				14,218		14,746
			318,586	308,273
NON-CURRENT LIABILITIES
Deferred income			94	12
Non-current provisions	13/14	27,994	31,163
Long-term borrowed capital	11	202,826	209,212
Deferred tax liabilities			14,655	11,589
Other non-current liabilities	12	45,777	91,594
			291,346	343,570
CURRENT LIABILITIES
Current provisions	14	11,522	7,603
Short-term borrowed capital	11	159,675	188,280
Trade and other payables			778,175	659,559
Contract liabilities			37,486	112,863
Current tax liabilities			25,186	30,503
Current derivative financial instruments	11	1,571	2,341
Other current liabilities	12		161,950		61,665
			1,175,565	1,062,814
Liabilities relating to non-current assets classified as held-
for-sale	21		136,419		22,971
TOTAL NET EQUITY AND LIABILITIES				1,921,916		1,737,628

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GLOBAL DOMINION ACCESS, S.A. AND SUBSIDIARIES

ABBREVIATED CONSOLIDATED INTERIM PROFIT & LOSS ACCOUNT FOR THE SIX-MONTH PERIOD ENDED 30 JUNE, 2023

(In EUR thousands)

6-month period ending 30 June

	Note	2023	2022
CONTINUING OPERATIONS
OPERATING INCOME			576,529		580,714
Net turnover			570,868	578,539
Other operating income			5,661	2,175
OPERATING EXPENSES			(536,431)		(547,538)
Consumption of raw materials and secondary materials			(252,859)	(311,739)
Employee benefit expenses			(178,270)	(153,858)
Amortisations	5/6		(31,061)	(23,116)
Other operating expenses			(72,954)	(62,859)
Profit/(loss) on sale/impairment of assets			(768)	(160)
Other income and expenses			(519)	4,194
OPERATING PROFIT			40,098		33,176
Finance income			8,753	3,096
Finance cost			(24,261)	(7,135)
Net exchange differences			(1,166)	(1,682)
Variation in the fair value of assets and liabilities attributed to profit
and loss			248	194
Share in net income (loss) of associates	8		476	606
PROFIT BEFORE TAX			24,148		28,255
Income tax	15		(422)	(4,530)
PROFIT ON CONTINUING OPERATIONS AFTER TAXES			23,726		23,725
PROFIT (LOSS) ON DISCONTINUED ACTIVITIES AFTER TAX	21		(410)		(3,443)
PROFIT FOR THE FINANCIAL YEAR			23,316		20,282
PROFIT/(LOSS) ATTRIBUTABLE TO NON-CONTROLLING INTERESTS			(26)		3,502
PROFIT ATTRIBUTABLE TO PARENT COMPANY SHAREHOLDERS			23,342	16,780
Basic and diluted earnings from continuing and discontinued activities
attributable to parent company shareholders (stated in euros per share)
- Basic and diluted earnings from continuing operations	16		0.1567	0.1282
- Basic and diluted earnings from discontinuing operations	16		(0.003)	(0.022)

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