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Interim Condensed Financial Statements for the Period 1/1-31/3/2021

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Interim Condensed Financial Statements for the Period 1/1-31/3/2021 INTERIM CONDENSED FINANCIAL STATEMENTS IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS THAT HAVE BEEN ADOPTED BY THE EUROPEAN UNION FOR THE PERIOD 1 JANUARY – 31 MARCH 2021 FOR THE GROUP AND THE COMPANY “MOTOR OIL (HELLAS) CORINTH REFINERIES S.A.” MOTOR OIL (HELLAS) CORINTH REFINERIES SA G.E.MI. 272801000 (Ex Prefecture of Attica Registration Nr 1482/06/Β/86/26) Headquarters: Irodou Attikou 12Α, 151 24 Maroussi Attica Interim Condensed Financial Statements for the period 1/1-31/3/2021 C O N T E N T S Condensed Statement of Profit or Loss and other Comprehensive Income for the period ended 31st March 2021 .............................................................................................................................................................................. 4 Condensed Statement of Financial Position as at 31st March 2021 ...................................................................... 6 Condensed Statement of Changes in Equity for the period ended 31st March 2021 ........................................ 7 Condensed Statement of Cash Flows for the period ended 31st March 2021..................................................... 8 Notes to the Financial Statements ............................................................................................................................ 9 1. General Information ........................................................................................................................................... 9 2. Basis of Financial Statements Preparation & Adoption of New and Revised International Financial Reporting Standards (IFRSs) ....................................................................................................................................... 9 3. Operating Segments ........................................................................................................................................ 11 4. Revenue ............................................................................................................................................................. 15 5. Finance Income ............................................................................................................................................... 16 6. Inventories ......................................................................................................................................................... 16 7. Finance Costs .................................................................................................................................................... 17 8. Income Tax Expenses ...................................................................................................................................... 17 9. Earnings/(Losses) per Share ............................................................................................................................ 18 10. Dividends .......................................................................................................................................................... 18 11. Goodwill ........................................................................................................................................................... 19 12. Other Intangible Assets ................................................................................................................................... 20 13. Property, Plant and Equipment ...................................................................................................................... 21 14. Investments in Subsidiaries and Associates ................................................................................................ 23 15. Other Financial Assets .................................................................................................................................... 28 16. Borrowings ....................................................................................................................................................... 28 17. Fair Value of Financial Instruments ............................................................................................................... 33 18. Leases ............................................................................................................................................................... 35 19. Share Capital ................................................................................................................................................... 36 20. Reserves ........................................................................................................................................................... 37 21. Retained Earnings ........................................................................................................................................... 38 22. Establishment/Acquisition of Subsidiaries/Associates ............................................................................... 39 23. Contingent Liabilities/Commitments ............................................................................................................ 39 24. Related Party Transactions ............................................................................................................................. 41 25. Management of Financial Risks .................................................................................................................... 42 26. Events after the Reporting Period .................................................................................................................. 46 The financial statements of the Group and the Company, set out on pages 1 to 46, were approved at the Board of Directors’ Meeting dated June 14th, 2021. Page 2 of 46 Interim Condensed Financial Statements for the period 1/1-31/3/2021 THE DEPUTY MANAGING THE CHAIRMAN OF THE BOARD DIRECTOR AND CHIEF THE CHIEF ACCOUNTANT OF DIRECTORS FINANCIAL OFFICER VARDIS J. VARDINOYANNIS PETROS T. TZANNETAKIS THEODOROS N. PORFIRIS Page 3 of 46 Interim Condensed Financial Statements for the period 1/1-31/03/2021 Condensed Statement of Profit or Loss and other Comprehensive Income for the period ended 31st March 2021 GROUP COMPANY In 000’s Euros (except for “earnings per share”) Note 1/1-31/03/21 1/1-31/03/20 1/1-31/03/21 1/1-31/03/20 Continued operations *unreviewed *unreviewed Operating results Revenue 4 1,886,750 1,648,758 1,295,704 1,059,318 Cost of Sales (1,723,064) (1,683,960) (1,203,939) (1,135,718) Gross Profit/(loss) 163,687 (35,202) 91,766 (76,400) Distribution expenses (53,833) (56,469) (4,796) (4,877) Administrative expenses (24,857) (18,878) (10,912) (9,553) Other income 2,088 2,541 364 305 Other Gain/(loss) 6,610 (3,781) 7,249 (2,909) Profit/(loss) from operations 93,695 (111,789) 83,671 (93,434) Finance income 5 13,272 4,574 11,987 1,025 Finance costs 7 (18,295) (13,990) (10,714) (7,987) Share of profit/(loss) in associates 273 (4,661) 0 0 Profit/(loss) before tax 88,947 (125,866) 84,944 (100,396) Income taxes 8 (24,088) 29,368 (20,451) 24,850 Profit/(loss) after tax from continued operations 64,858 (96,498) 64,493 (75,546) Discontinued operations Profit/(loss) after tax from discontinued operations 0 (188) 0 0 Profit/(loss) after tax 64,858 (96,686) 64,493 (75,546) Attributable to Company Shareholders 64,799 (96,325) 64,493 (75,546) Non-controlling interest 59 (361) 0 0 Earnings/(losses) per share basic (in €) 9 From continued operations 0.58 (0.87) 0.58 (0.68) From continued and discontinued operations 0.58 (0.87) 0.58 (0.68) Earnings/(losses) per share diluted (in €) 9 From continued operations 0.58 (0.87) 0.58 (0.68) From continued and discontinued operations 0.58 (0.87) 0.58 (0.68) The notes on pages 9 - 46 are an integral part of these interim condensed Financial Statements of the Company and the Group. Page 4 of 46 Interim Condensed Financial Statements for the period 1/1-31/03/2021 GROUP COMPANY In 000’s Euros (except for “earnings per share”) Note 1/1-31/03/21 1/1-31/03/20 1/1-31/03/21 1/1-31/03/20 Other comprehensive income *unreviewed *unreviewed Items that will not be reclassified subsequently to profit or loss: Subsidiary Share Capital increase expenses 0 (110) 0 0 Exchange differences on translating foreign operations 657 131 0 0 Share of Other Comprehensive Income of associates accounted for using the equity method (2) 0 0 0 Fair value Gain/(loss) arising on financial assets (307) 0 0 0 Income tax on other comprehensive income 0 26 0 0 348 47 0 0 Items that may be reclassified subsequently to profit or loss: Net Gain/(loss) arising on hedging instruments during the period on cash flow hedges 158 0 158 0 158 0 158 0 Net Other Comprehensive income 506 47 158 0 Total comprehensive income 65,365 (96,639) 64,651 (75,546) Attributable to Company Shareholders 65,088 (96,313) 64,651 (75,546) Non-controlling interest 277 (326) 0 0 The notes on pages 9 - 46 are an integral part of these interim condensed Financial Statements of the Company and the Group. Page 5 of 46 Interim Condensed Financial Statements for the period 1/1-31/03/2021 Condensed Statement of Financial Position as at 31st March 2021 GROUP COMPANY (In 000’s Euros) note 31/3/2021 31/12/2020 31/3/2021 31/12/2020 Non – current assets Goodwill 11 39,146 31,727 0 0 Other intangible assets 12 105,665 105,593 1,947 2,090 Property, Plant and Equipment 13 1,353,782 1,306,406 842,449 811,768 Right of use assets 18 191,769 185,289 14,325 15,430 Investments in subsidiaries and associates 14 61,678
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