Table of Contents
1
148
Cloudberry Clean Energy Annual report 2020
Content
2
Cloudberry in brief
3
Letter from the CEO
4
Overview and Key Highlights
6
Executive Management
16
Board of Directors
18
Board of Directors report
20
Sustainability
29
Corporate Governance
54
Consolidated financial statements Group
62
Consolidated statement of profit or loss
64
Statement of comprehensive income
65
Consolidated statement of financial position
66
Consolidated statement of cash flows
68
Consolidated statement of changes in equity
69
Notes to the Consolidated financial statements Group
70
General
70
Note 1 General information
70
Note 2 General accounting policies and principles
70
Note 3 Key accounting estimates and judgements
78
Note 4 Operating segments
80
Note 5 Business combinations and other transactions
82
Note 6 Explanation of transition to IFRS
86
Key risks and financial instruments
89
Note 7 Market related risks
89
Note 8 Commercial and operational risks
90
Note 9 Financial risks
91
Note 10 Financial instruments
92
Note 11 Hedge accounting
94
Statement of profit or loss and comprehensive income
95
Note 12 Sales revenues and other operating income
95
Note 13 Employee benefits and share based payments
96
Note 14 Other operating expenses
99
Note 15 Financial items
100
Note 16 Income tax expense
100
Statement of financial position
102
Note 17 Property, plant and equipment
102
Note 18 Inventory
104
Note 19 Impairment
105
Note 20 Investments in associated companies
107
Note 21 Cash, cash equivalents and corporate funding
109
Note 22 Share capital and shareholder information
110
Note 23 Long term debt
112
Note 24 Provisions, guarantees and other contractual obligations
113
Note 25 Lease agreements
115
Other information
117
Note 26 Earnings per share
117
Note 27 Transactions with related parties
117
Note 28 List of subsidiaries and equity accounted companies
119
Note 29 Subsequent events
120
Parent company financial statements
124
Statement of profit or loss
125
Statement of financial position
126
Statement of cash flows
128
Notes to the parent company financial statements
129
Note 1 General information
129
Note 2 General accounting policies and principles
129
Note 3 Sales revenues
131
Note 4 Employee benefits and share based payments
131
Note 5 Other operating expenses
134
Note 6 Financial items
134
Note 7 Income tax expense
135
Note 8 Property, plant and equipment
136
Note 9 Subsidiaries and investment in associated companies
136
Note 10 Cash, cash equivalents and corporate funding
137
Note 11 Equity capital, share capital and shareholder information
137
Note 12 Short term debt and provisions
139
Note 13 Earnings per share
139
Note 14 Intercompany items between companies in the same group
140
Note 15 Subsequent events
140
Note 16 Covid-19
140
Responsibility statement
141
Alternative performance measures
142
Auditor’s report
143
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