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 21 -  254  -  254  - 254
Remeasurements of post-              
employment benefit obligations 22   -  -  27,466  27,466  -  27,466
Exchange rate differences 17   - 21,927  -  21,927  28  21,955
Other comprehensive income,               
net of tax   - 22,181  27,466  49,647  28  49,675
Net result    -  -  18,124  18,124  (1,121)  17,003
Total comprehensive income    -  22,181 45,590  67,771  (1,093)  66,678
               
Dividends 33  -  - - -  - -
Disposal     - - -  (1,386)  (1,386)
Other movements    -  - 2,375  2,375  1,015  3,390
     - -  2,375  2,375 (371)  2,004
               
As at 31 December 2021    839,311  (77,484)  (108,238)  653,589 (186)  653,403
               

In 2021 Other movements the €2.4 million relates to additions arising from Performance Share Plan. See also note 39. In 2020, the Company formed a new joint venture, AsfaltNu cv (see note 5). As a result, the Company derecognized the carrying amount of the noncontrolling 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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