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Annual Financial Report Hellenic Petroleum Sa

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Annual Financial Report Hellenic Petroleum Sa HELLENIC PETROLEUM SA ANNUAL FINANCIAL REPORT FOR FISCAL YEAR 2020 (As per article 4, L. 3556/2007) 0 ΜΑΡΟΥΣΙ, ΑΥΓΟΥΣΤΟΣ 2020 TABLE OF CONTENTS 1. Audited Annual Financial Statements 1.1 Group Consolidated Financial Statements 1.2 Parent Company Financial Statements 2. Board of Directors’ Consolidated Annual Financial Report for 2020 3. Statement of the Chairman, Chief Executive Officer and one Director on the true presentation of the data of the Annual Financial Report 4. Independent Auditor’s Report on the Annual Financial Statements 5. Complementary information and data pursuant to decision 7/448/11.10.07 of the Capital Market Commission 5.1 Information required as per article 10 of L. 3401/2005 5.2 Published Summary Financial Statements 5.3 Website 1 1. Audited Annual Financial Statements 2 1.1 Group Consolidated Financial Statements 3 HELLENIC PETROLEUM S.A. Consolidated Financial Statements in accordance with IFRS as endorsed by the European Union for the year ended 31 December 2020 GENERAL COMMERCIAL REGISTRY: 000296601000 COMPANY REGISTRATION NUMBER: 2443/06/B/86/23 REGISTERED OFFICE: 8A CHIMARRAS STR, 15125 MAROUSI, GREECE Hellenic Petroleum S.A. Consolidated Financial Statements in accordance with IFRS for the year ended 31 December 2020 (All amounts in Euro thousands unless otherwise stated) Index to the consolidated financial statements Company Information ...................................................................................................................... 4 Consolidated Statement of financial position ................................................................................. 5 Consolidated statement of comprehensive income / (loss) ............................................................ 6 Consolidated statement of changes in equity.................................................................................. 7 Consolidated statement of cash flows .............................................................................................. 8 Notes to the consolidated financial statements ............................................................................... 9 1 General information........................................................................................................................... 9 2 Summary of significant accounting policies ..................................................................................... 9 2.1 Basis of preparation ..................................................................................................................... 9 2.2 Basis of consolidation ................................................................................................................ 13 2.3 Business combinations ............................................................................................................... 15 2.4 Segment reporting ...................................................................................................................... 15 2.5 Foreign currency translation ...................................................................................................... 15 2.6 Assets held for sale .................................................................................................................... 16 2.7 Property, plant and equipment ................................................................................................... 17 2.8 Leases ........................................................................................................................................ 18 2.9 Borrowing costs ......................................................................................................................... 19 2.10 Intangible assets ......................................................................................................................... 20 2.11 Exploration for and evaluation of mineral resources ................................................................. 20 2.12 Impairment of non-financial assets ............................................................................................ 21 2.13 Financial assets .......................................................................................................................... 21 2.14 Derivative financial instruments and hedging activities ............................................................ 24 2.15 Government grants..................................................................................................................... 24 2.16 Inventories ................................................................................................................................. 25 2.17 Trade receivables ....................................................................................................................... 25 2.18 Cash and cash equivalents ......................................................................................................... 25 2.19 Share capital .............................................................................................................................. 25 2.20 Borrowings ................................................................................................................................ 25 2.21 Current and deferred income tax ............................................................................................... 26 2.22 Employee benefits ..................................................................................................................... 27 2.23 Trade and other payables ........................................................................................................... 28 2.24 Provisions .................................................................................................................................. 28 2.25 Environmental liabilities ............................................................................................................ 29 2.26 Revenue recognition .................................................................................................................. 29 2.27 Dividend distribution ................................................................................................................. 30 2.28 Financial guarantee contracts ..................................................................................................... 30 2.29 Changes in accounting policies .................................................................................................. 30 2.30 Comparative figures................................................................................................................... 30 (2) / (82) Hellenic Petroleum S.A. Consolidated Financial Statements in accordance with IFRS for the year ended 31 December 2020 (All amounts in Euro thousands unless otherwise stated) 3 Financial risk management ............................................................................................................. 31 3.1 Financial risk factors.................................................................................................................. 31 3.2 Capital risk management ........................................................................................................... 37 3.3 Fair value estimation.................................................................................................................. 38 4 Critical accounting estimates and judgements .............................................................................. 39 5 Segment information ........................................................................................................................ 42 6 Property, plant and equipment ....................................................................................................... 45 7 Right-of-use assets ............................................................................................................................ 48 8 Intangible assets ............................................................................................................................... 49 9 Investments in associates and joint ventures ................................................................................. 50 10 Loans, advances & long term assets ............................................................................................... 56 11 Inventories ........................................................................................................................................ 56 12 Trade and other receivables ............................................................................................................ 57 13 Cash and cash equivalents ............................................................................................................... 58 14 Share capital ..................................................................................................................................... 59 15 Reserves ............................................................................................................................................ 59 16 Trade and other payables ................................................................................................................ 60 17 Interest bearing loans and borrowings ........................................................................................... 61 18 Lease liabilities ................................................................................................................................
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