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Consolidated Financial Statements 2018

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Consolidated Financial Statements 2018 GAZPROM GERMANIA CONSOLIDATED FINANCIAL STATEMENTS 2018 www.gazprom-germania.de Consolidated Financial Statements 2018 GAZPROM Germania GmbH, Berlin Page 2 CONTENTS Contents ................................................................................................................................................. 2 Abbreviations ......................................................................................................................................... 5 Group management report ................................................................................................................... 7 Economic and regulatory conditions ................................................................................................... 7 General economic conditions .......................................................................................................... 7 Energy policy and regulatory environment ...................................................................................... 8 Business performance ......................................................................................................................... 9 Group performance ......................................................................................................................... 9 Marketing and trading business .................................................................................................... 10 Gas storage ................................................................................................................................... 10 Gas transport ................................................................................................................................. 11 Other business areas .................................................................................................................... 11 Net assets, financial position and result of operations ...................................................................... 11 Comparison of actual and forecasted business performance ....................................................... 12 Result of operations ....................................................................................................................... 12 Net assets ...................................................................................................................................... 13 Financial position ........................................................................................................................... 13 Non-financial performance indicators ................................................................................................ 14 Human resources .......................................................................................................................... 14 IT environment ............................................................................................................................... 14 Social commitment ........................................................................................................................ 14 Report on opportunities and risks ...................................................................................................... 15 Opportunities ................................................................................................................................. 15 Risk management system ............................................................................................................. 15 Risks .......................................................................................................................................... 16 Overall assessment of opportunities and risks .............................................................................. 19 Report on expected developments .................................................................................................... 20 Consolidated financial statements 2018 ........................................................................................... 21 Consolidated statement of comprehensive income ........................................................................ 21 Consolidated balance sheet ............................................................................................................... 22 Consolidated statement of changes in equity .................................................................................. 23 Consolidated cash flow statement .................................................................................................... 24 Notes to the consolidated financial statements ............................................................................... 25 General notes .................................................................................................................................... 25 Consolidated Financial Statements 2018 GAZPROM Germania GmbH, Berlin Page 3 Accounting principles ......................................................................................................................... 25 Summary of material accounting methods ........................................................................................ 32 Capital consolidation and business combinations ......................................................................... 32 Foreign currency translation .......................................................................................................... 32 Financial instruments ..................................................................................................................... 33 Inventories ..................................................................................................................................... 36 Non-current assets held for sale ................................................................................................... 36 Non-current assets ........................................................................................................................ 36 Current and deferred tax ............................................................................................................... 38 Provisions for pensions and similar obligations............................................................................. 38 Contingent liabilities ....................................................................................................................... 39 Revenue ........................................................................................................................................ 39 Foreign exchange differences ....................................................................................................... 39 Leases .......................................................................................................................................... 40 Assumptions and estimates........................................................................................................... 40 Judgements ................................................................................................................................... 40 Changes in presentation ................................................................................................................ 41 Scope of consolidation ...................................................................................................................... 42 Notes to the consolidated statement of comprehensive income ................................................... 45 (1) Revenue ........................................................................................................................... 45 (2) Other operating income .................................................................................................... 46 (3) Cost of materials ............................................................................................................... 46 (4) Employee benefits ............................................................................................................ 46 (5) Depreciation and amortisation expense; impairment of intangible assets and of property, plant and equipment ...................................................................................... 47 (6) Result from loss allowances ............................................................................................. 47 (7) Other operating expense .................................................................................................. 48 (8) Result from changes in fair value in operating activities .................................................. 48 (9) Interest income ................................................................................................................. 48 (10) Interest expense ............................................................................................................... 48 (11) Result from investments accounted for using the equity method ..................................... 49 (12) Other result from investments .......................................................................................... 49 (13) Other financial income ...................................................................................................... 49 (14) Other financial expense .................................................................................................... 49 (15) Result from changes in fair value in financing activities ..................................................
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