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SIX-MONTH FINANCIAL REPORT for the Period 01 January 2020 to 30 June 2020 (In Accordance with Article 5 of Law 3556/2007)

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SIX-MONTH FINANCIAL REPORT for the Period 01 January 2020 to 30 June 2020 (In Accordance with Article 5 of Law 3556/2007) SIX-MONTH FINANCIAL REPORT for the period 01 January 2020 to 30 June 2020 (in accordance with Article 5 of Law 3556/2007) Companies Register No: 41913/06/Β/98/32 General Commercial Reg. No. 58240404000 127 Egnatias St - 54635 Thessaloniki SIX-MONTH FINANCIAL REPORT for the six-month period ended on 30 June 2020 (amounts in thousands of euro) 30 June 2020 SIX-MONTH FINANCIAL REPORT FOR THE PERIOD 1 JANUARY 2020 - 30 JUNE 2020 IN ACCORDANCE WITH THE INTERNATIONAL FINANCIAL REPORTING STANDARDS It is confirmed that the attached interim financial report is the one approved by the Board of Directors of “THESSALONIKI WATER SUPPLY & SEWERAGE CO. S.A.” on 24 September 2020 and has been published on the internet at www.eyath.gr. 2 SIX-MONTH FINANCIAL REPORT for the six-month period ended on 30 June 2020 (amounts in thousands of euro) 30 June 2020 TABLE OF CONTENTS OF THE SIX-MONTH FINANCIAL REPORT STATEMENTS BY BOARD OF DIRECTORS MEMBERS…………………………………………………………………………………4 SIX-MONTH MANAGEMENT REPORT OF THE BOARD OF DIRECTORS……………………………………………………….5 REVIEW REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS………………………………………………….28 STATEMENT OF FINANCIAL POSITION……………………………………………………………………………………………………29 STATEMENT OF COMPREHENSIVE INCOME…………………………………………………………………………………………..30 STATEMENT OF CHANGES IN EQUITY…………………………………………………………………………………………………….31 CASH FLOW STATEMENT……………………………………………………………………………………………………………………….32 NOTES ON THE SIX-MONTH FINANCIAL REPORT……………………………………………………………………………………33 1. GENERAL INFORMATION ABOUT THE COMPANY AND THE GROUP ........................................ 33 2. BASIS FOR THE PREPARATION OF FINANCIAL STATEMENTS ................................................... 34 3. SEGMENTAL REPORTING ........................................................................................................ 37 4. CHANGES IN FINANCIALS ...................................................................................................... 399 5. TANGIBLE AND INTANGIBLE ASSETS ....................................................................................... 39 6. RIGHT-OF-USE ASSETS ............................................................................................................ 40 7. PARTICIPATIONS IN SUBSIDIARIES .......................................................................................... 41 8. INVENTORIES .......................................................................................................................... 41 9. TRADE AND OTHER RECEIVABLES ........................................................................................... 41 10. CASH AND CASH EQUIVALENTS ............................................................................................... 42 11. SHARE CAPITAL ....................................................................................................................... 43 12. PROVISIONS FOR EMPLOYEE BENEFITS ................................................................................. 444 13. PROVISIONS FOR CONTINGENCIES AND EXPENSES ................................................................. 45 14. TRADE AND OTHER LIABILITIES ............................................................................................... 45 15. LEASE LIABILITIES .................................................................................................................. 456 16. SHORT-TERM TAX LIABILITIES ............................................................................................... 466 17. INCOME TAX ........................................................................................................................... 46 18. EARNINGS PER SHARE ........................................................................................................... 477 19. TRANSACTIONS WITH RELATED PARTIES ................................................................................ 47 20. COMMITMENTS FROM CONTINGENT LIABILITIES ................................................................. 488 21. NUMBER OF STAFF EMPLOYED ............................................................................................. 489 22. SEASONALITY OF OPERATIONS ............................................................................................. 489 23. MAJOR EVENTS IN THE PERIOD 1.1.2020 - 30.6.2020 ........................................................... 499 24. EVENTS OCCURRING AFTER THE BALANCE SHEET DATE ......................................................... 53 3 SIX-MONTH FINANCIAL REPORT for the six-month period ended on 30 June 2020 (amounts in thousands of euro) 30 June 2020 STATEMENTS BY BOARD OF DIRECTORS MEMBERS (in accordance with article 5(2) of Law 3556/2007) The members of the Board of Directors of the company with the corporate name "THESSALONIKI WATER SUPPLY & SEWERAGE CO S.A.", trading as EYATH S.A., whose registered offices are at 127 Egnatias St., Thessaloniki, GR-54635): 1. Agis Papadopoulos, Chairman of the Board 2. Anthimos Amanatidis, CEO 3. Nikos Klitou, Board Member, Chairman of the Audit Committee in implementation of the provisions of Article 5(2) of Law 3556/2007, we hereby state and confirm, that to the best of our knowledge: (a) the attached six-month separate and consolidated condensed financial statements for the company EYATH S.A. for the period from 01.01.2020 to 30.06.2020 which were prepared in accordance with IAS 34 accurately reflect the assets and liabilities, equity and results of EYATH S.A. and the enterprises included in the consolidation, taken as a whole, in accordance with the provisions of Article 5(3) to (5) of Law 3556/2007 and (b) the attached six-month report of the Board of Directors of EYATH S.A. accurately reflects the developments, performance and position of EYATH S.A. and the enterprises included in the consolidation, taken as a whole, including a description of the main risks and uncertainties they face. Thessaloniki, 24 September 2020 Confirmed by Agis Papadopoulos Anthimos Amanatidis Nikos Klitou Chairman of the Board of Directors CEO Board member Chairman of the Audit Committee ID Card No. ΑΝ 201633 ID Card No. AE 125155 ID Card No. ΑΜ 674658 4 SIX-MONTH FINANCIAL REPORT for the six-month period ended on 30 June 2020 (amounts in thousands of euro) 30 June 2020 SIX-MONTH MANAGEMENT REPORT OF THE BOARD OF DIRECTORS (prepared in accordance with the provisions of Article 4 of Law 3556/2007 and the relevant decisions of the BoD of the Hellenic Capital Market Commission for the period 1 January 2020 - 30 June 2020) Dear Shareholders, In accordance with the provisions of Law 3556/2007 and the relevant decisions of the Hellenic Capital Market Commission, we are submitting to you this Six-Month Report of the Board of Directors for the current period (01.01.2020-30.06.2020). This report contains condensed financial information about the financial position and results of the company EYATH S.A. and the EYATH Group of companies, a description of the significant events that took place during this period, a description of the significant events that took place after the balance sheet date, a description of the projected course of business for the Group and the Company, information about the management of significant financial risks for the Group and the Company, a presentation of the significant transactions concluded between the Company and the Group and related parties, as well as other information with regard to the shares, share capital and significant agreements in force at the end of this period. CONDENSED FINANCIAL INFORMATION ABOUT THE GROUP AND THE COMPANY The Group consists of a) the company under the name "THESSALONIKI WATER SUPPLY & SEWERAGE CO S.A." trading as "EYATH S.A." (hereinafter the "COMPANY" or "EYATH S.A."), that was founded in 1998 (Law 2651/3-11-1998 (Government Gazette 248/A/3-11-1998), created from the merger of the companies "Thessaloniki Water Supply Organisation S.A." (OYTH S.A.) and "Thessaloniki Sewerage Organisation S.A." (OATH S.A.), which had been converted into societes anonyme during 1997 and b) the subsidiary EYATH SERVICES S.A. (wholly owned), which engages in the provision of all types of Water Supply & Sewerage Services, telecommunications services and the generation and sale of electricity. It is listed on the Athens Exchange and is governed by the provisions of Law 4548/2018 on societes anonyme, as that law applies as a complement to the provisions of Law 2937/2001, Chapter II (Government Gazette 169/A) and Law 3016/2002, as amended by Article 26 of Law 3091/2002. The company's effective term is 99 years from 3.11.1998, and expires on 3.11.2097. The original Articles of Association were approved by decision No. ΕΓΑ/606/26-7-2001 (Government Gazette 989/30-7-2001) and the company is entered in the Companies Register (Reg. No. 41913/06/B/98/32) and the General Electronic Commercial Registry (GCR No. 58240404000). The Company's registered offices are in a privately owned building at 127 Egnatias St., Thessaloniki. EYATH is the second largest water supply and sewerage services provider in Greece. It provides water supply services via a 2,700 km long water distribution network within its territorial remit (the wider Thessaloniki urban area and industrial area) and sewerage services via a 1,750 km long sewerage network within its territorial remit (from the river Axios, the Municipality of Delta and Chalkidona, and the high areas of the Thessaloniki urban area to the Municipality of Thermaikos at the tourist areas). The company has over 1,000,000 household connections
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