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Blue Action Fund Frankfurt Am Main/Germany Blue Action Fund Frankfurt am Main/Germany Annual financial statements for the financial year from 1 January to 31 December 2019 TRANSLATION – German version prevails – Blue Action Fund, Frankfurt am Main/Germany Balance sheet as at 31 December 2019 Equity and Assets liabilities 31 Dec. 2019 31 Dec. 2018 31 Dec. 2019 31 Dec. 2019 31 Dec. 2018 31 Dec. 2018 EUR EUR EUR EUR EUR EUR A. Fixed assets A. Equity I. Foundation capital I. Property, plant and equipment 1. Initial endowment 2,000,000.00 2,000,000.00 Operating and office equipment 3,809.00 1,614.01 2. Spendable capital 2,395,975.10 2,550,000.00 4,395,975.10 4,550,000.00 II. Financial assets II. Reserves Investment securities 33,684,484.81 21,370,955.83 1. Capital reserves 72,685,736.33 49,154,224.60 33,688,293.81 21,372,569.84 2. Earnings reserves 6,406,917.80 7,113,443.84 79,092,654.13 56,267,668.44 B. Current assets III. Funds carried forward 0.00 258,119.79 I. Other assets 179,568.83 201,103.25 83,488,629.23 61,075,788.23 II. Bank balances 53,784,348.45 42,423,038.27 B. Provisions 53,963,917.28 42,624,141.52 Other provisions 139,411.49 119,836.96 C. Liabilities 1. Liabilities from conditionally repayable 4,006,827.23 2,500,000.00 donations 2. Trade payables 2,886.21 14,512.17 3. Other liabilities 14,456.93 286,574.00 4,024,170.37 2,801,086.17 87,652,211.09 63,996,711.36 87,652,211.09 63,996,711.36 Blue Action Fund, Frankfurt am Main/Germany Statement of profit and loss for the financial year from 1 January to 31 December 2019 2019 2019 2018 2018 EUR EUR EUR EUR 1. Net investment income and other income a) Investment income aa) Dividends 288,809.16 180,822.37 ab) Interest and similar income 259,095.93 200,516.45 ac) Funds distributions 65,246.25 0.00 ad) Realised capital gains 1,197,593.23 -43,597.38 ae) Exchange gains 2,399.51 7,411.18 1,813,144.08 345,152.62 b) Investment expenses -357,290.35 -341,610.68 c) Foreign exchange currency loss -16,849.77 0.00 Net investment income 1,439,003.96 3,541.94 d) Donations and other income 993,172.77 2,819,018.98 Net income 2,432,176.73 2,822,560.92 2. Programme grants & projects and other expenses Direct project support a) Grants to projects -4,489,018.27 -1,331,033.87 b) Expenses for knowledge exchange and research activities 0.00 0.00 -4,489,018.27 -1,331,033.87 Programme development and management -220,621.32 -115,001.40 Administrative and other expenses a) Administration expenses -260,541.00 -234,896.52 b) Fundraising and communications -49,155.14 -25,819.37 -309,696.14 -260,715.89 Total project and other expenses -5,019,335.73 -1,706,751.16 3. Loss/profit for the year -2,587,159.00 1,115,809.76 4. Funds carried forward from the previous year 258,119.79 5,159,978.47 5. Withdrawals from spendable capital 154,024.90 150,000.00 6. Transfers from reserves a) Transfers from capital reserves 1,468,488.27 945,775.40 b) Transfers from earnings reserves 2,145,530.00 0.00 3,614,018.27 945,775.40 7. Transfers to earnings reserves -1,439,003.96 -7,113,443.84 8. Funds carried forward 0.00 258,119.79 Blue Action Fund, Frankfurt am Main/Germany Notes to the financial statements for the financial year 2019 General information and explanations on the annual financial statements Blue Action Fund was established as a foundation under civil law by act of foundation on 1 December 2016. The recognition by the district president took place on 7 December 2016. The Foundation is registered within the foun- dation register of the Darmstadt/Germany district. The financial year principally corresponds to the calendar year. The annual financial statements as of 31 Decem- ber 2019 were prepared in accordance with the requirements under German commercial law as well as in compliance with the supplementary provisions of the charter. The Foundation generally complied with the requirements of the German Commercial Code (HGB) applicable to small business corporations (Sec. 267 (1) HGB). As regards the classification of the balance sheet and the statement of profit and loss, the particularities that arise from the activity of the Foundation were taken into account. The statement of profit and loss has been prepared based on the cost of sales format in accordance with Sec. 275 (3) HGB, taking into account the particularities under foundation law. Recognition and measurement policies In the financial year, the disclosure of reserves within equity was adjusted. They were allocated to capital reserves and earnings reserves. Apart from the above, the recognition and measurement policies applied remained un- changed when compared to the prior year. Property, plant and equipment and financial assets are measured at acquisition cost in accordance with Sec. 255 (1) HGB. Wear and tear of property, plant and equipment is taken into account through depreciation, measured on the basis of the useful lives accepted under tax principles using the straight-line method. Financial assets are written down to the lower fair value in case of lasting permanent impairment. The Foundation does not exercise the option in case of a presumably temporary impairment in value. The other assets are measured at the lower of acquisition cost and the fair value on balance sheet date. Bank balances are recognised at nominal value. The other provisions cover all risks and contingent liabilities identifiable as of the balance sheet date. They are rec- ognised at settlement amount based on sound business judgement. 1 Liabilities are carried at settlement amount. Transactions denominated in foreign currencies are generally recognised at the rate in effect on the date of transac- tion. Receivables and liabilities denominated in foreign currencies are translated at the rate in effect on the day of origin. Foreign currency items are generally translated as of the balance sheet date in accordance with the provisions under Sec. 256a HGB at the middle spot exchange rate in effect on balance sheet date. Notes to the balance sheet Fixed assets Classification of and movements in fixed assets are given in the attached statement of movements in fixed assets. Financial assets As regards the security portfolio making part of the financial assets with a book value of EUR 33,684,484.81 as of the end of the reporting year, the following securities are disclosed at fair value (market rates as of balance sheet date): Nominal value/num- Fair Book value ber value EUR EUR EUR Bonds Aareal Bank AG 0.375% 24 300,000 302,261.90 301,260.00 Aeoroports de Paris S.A. 3.125% 24 200,000 228,036.00 227,440.00 Arcelik A.S.NT 3.875% 21 200,000 318,325.00 313,470.00 Aroundtown SA 1.5% 24 600,000 628,524.00 625,170.00 ASML Holding N.V. 1.375% 26 300,000 322,134.00 321,855.00 Berlin Hyp AG 0.5% 29 300,000 299,748.52 297,060.00 BNG Bank N.V. 2.25% 23 200,000 221,782.00 218,000.00 Coca-Cola European Partn. PLC 1.5% 27 460,000 498,916.00 493,833.00 Croatia 3% 25 300,000 340,482.00 340,260.00 Dassault Systemes SE 0.125% 26 300,000 296,862.00 296,160.00 Deutsche Bahn 2.5% 23 300,000 335,895.00 327,900.00 Deutsche Pfandbriefbank 0.75% 23 300,000 305,946.00 304,890.00 DH Europe Finance S.A. 0.2% 26 200,000 199,280.00 197,580.00 Eurofima 0.25% 24 300,000 306,021.00 305,145.00 Euronext N.V. 1% 25 300,000 310,873.50 309,570.00 European Investment Bank 3.25% 24 452,189 480,497.41 471,253.62 Ferrovial Emisiones S.A. 1.375% 25 300,000 318,558.00 314,040.00 Fiserv Inc. 0.375% 23 300,000 302,727.00 302,130.00 Grenke Finance PLC 1.125% 22 300,000 305,104.00 304,140.00 Grenke Finance PLC 1.625% 24 300,000 316,197.00 314,145.00 Klépierre S.A. 0.625% 30 200,000 199,322.58 197,440.00 2 Mitsubishi UFJ Fin. Grp. 0.68% 23 300,000 305,700.00 304,935.00 Portugal OBR 2.2% 22 250,000 268,690.25 267,675.00 Portugal OBR.V. 5.65% 24 100,000 445,043.00 434,175.00 ProSiebenSat.1 Media SE 2.625% 21 300,000 312,567.00 306,981.00 Proximus S.A. 1.875% 25 300,000 329,997.00 325,050.00 SKF AB 1.25% 25 300,000 314,205.00 313,467.00 Sumitomo Mitsui Fin. Grp. 0.819% 23 300,000 307,233.00 306,435.00 Tele2 AB 1.125% 24 250,000 259,437.50 258,632.50 Thermo Fisher Scientific 2.15% 22 250,000 267,172.50 262,625.00 Unibail-Rodamco-Westfield SE 1% 27 500,000 526,458.58 515,900.00 Unibail-Rodamco-Westfield SE 1.125% 25 200,000 208,164.00 205,760.00 Vonovia Finance 2.25% 23 200,000 217,378.00 215,308.00 Wienerberger AG EO-Schuldv.
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