Consolidated statement of changes in equity

(x €1,000)

    Attributable to the shareholders of the Company
  Notes Share capital and premium
Reserves (Note 17)


Retained
earnings



Total
Non-controlling
interests

Total
equity
As at 1 January 2019   839,311 (164,966) 54,686 729,031 5,857 734,888
               
Cash flow hedges 21 -  (30,745)  -  (30,745)  (31)  (30,776)
Remeasurements of post-              
employment benefit obligations 22   -  -  (68,125)  (68,125)  -  (68,125)
Exchange rate differences    -  22,864  -  22,864  82  22,946
Other comprehensive income,     -          
net of tax     (7,881)  (68,125)  (76,006)  51  (75,955)
Net result    -  -  11,846  11,846  121  11,967
Total comprehensive income    -  (7,881)  (56,279)  (64,160)  172  (63,988)
               
Dividends 33  -  -  (19,456)  (19,456)  (559)  (20,015)
Repurchase of ordinary shares 16  -    (16,889)  (16,889)  -  (16,889)
Share based payments    -    (46)  (46)  -  (46)
Development cost    - (10,800)  10,800  -  -  -
Other movements    -  -  (36)  (36)  -  (36)
     -  (10,800)  (25,627)  (36,427)  (559)  (36,986)
               
As at 31 December 2019    839,311  (183,644)  (27,220)  628,447  5,470  633,917
               
Cash flow hedges* 17, 21 -  94,579  -  94,579  39  94,618
Remeasurements of post-              
employment benefit obligations 22   -  -  (1,940)  (1,940)  -  (1,940)
Exchange rate differences 17   -  (10,597)  (1)  (10,598)  (92)  (10,690)
Other comprehensive income,               
net of tax   -  83,982  (1,941)  82,041  (53)  81,988
Net result    -  -  (122,184)  (122,184)  (208)  (122,392)
Total comprehensive income    -  83,982  (124,125)  (40,143)  (261)  (40,404)
               
Dividends 33  -  - - -  (129)  (129)
Loss of control attributable to              
former non-controlling interest   - - -  (2,642)  (2,642)
Disposal through discontinued              
operations 37.3   - - -  (578)  (578)
Other movements    -  -  (4,858)  (4,858)  (582)  (5,440)
     - -  (4,858)  (4,858)  (3,931)  (8,789)
               
As at 31 December 2020    839,311  (99,665)  (156,203)  583,443  1,278  584,721
               

In 2020, the Company contributed the know-how, expertise and investments in the field of asphalt production in a newly formed joint venture, AsfaltNu cv (see note 5). As a result, the Company derecognized the carrying amount of the non-controlling interests in the former subsidiaries contributed to the newly formed joint venture for an amount of approximately €3 million.

In 2020, the Company acquired all shares from a minority shareholder in an asphalt production company for the amount of approximately €5 million, increasing its interest to 100 per cent. Since this is an transaction with a minority shareholder, the amount is recognised through equity and reflected as other movements in the table above. See consolidated statement of cash flows ‘other financing activities’.

 

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