Cloudberry Clean Energy Annual report 2021

Cloudberry in brief	3
Letter from the CEO	4
Overview and highlights	6
Executive Management	18
Board of Directors	20
Board of Directors report	23
Sustainability report	32
Introduction	34
Planet	46
People	64
Prosperity	69
WEF Metrics	74
Corporate Governance report	78
Consolidated financial statements Group	90
Consolidated statement of profit or loss	92
Consolidated statement of comprehensive income	93
Consolidated statement of financial position	94
Consolidated statement of cash flows	96
Consolidated statement of changes in equity	97
Notes to the Consolidated financial statements Group	98
General	98
Note 1 General information	98
Note 2 General accounting policies and principles	98
Note 3 Key accounting estimates and judgements	107
Note 4 Business segments	108
Note 5 Business combinations and other transactions	111
Key risks and financial instruments	115
Note 6 Covid 19	115
Note 7 Market related risks	116
Note 8 Commercial and operational risks	117
Note 9 Financial risks	118
Note 10 Financial instruments	119
Note 11 Hedge accounting	121
Statement of profit or loss and comprehensive income	123
Note 12 Sales revenues and other operating income	123
Note 13 Employee benefits and share based payments	124
Note 14 Other operating expenses	128
Note 15 Financial items	129
Note 16 Income tax expense	130
Statement of financial position	132
Note 17 Property, plant and equipment	132
Note 18 Inventory	135
Note 19 Impairment	137
Note 20 Investments in associated companies	138
Note 21 Cash, cash equivalents and corporate funding	141
Note 22 Share capital and shareholder information	142
Note 23 Long term debt	143
Note 24 Provisions, guarantees and other contractual obligations	145
Note 25 Lease agreements	147
Other information	149
Note 26 Earnings per share	149
Note 27 Transactions with related parties	149
Note 28 List of subsidiaries and equity accounted companies	151
Note 29 Subsequent events	152
Parent company financial statements	158
Statement of profit or loss	159
Statement of financial position	160
Statement of cash flows	162
Notes to the parent company financial statements	163
Note 1 General information	163
Note 2 General accounting policies and principles	163
Note 3 Sales revenues	165
Note 4 Employee benefits and share based payments	165
Note 5 Other operating expenses	169
Note 6 Financial items	169
Note 7 Income tax expense	170
Note 8 Property, plant and equipment	171
Note 9 Subsidiaries and investment in associated companies	171
Note 10 Cash, cash equivalents and corporate funding	172
Note 11 Equity capital, share capital and shareholder information	172
Note 12 Short term debt and provisions	174
Note 13 Earnings per share	174
Note 14 Intercompany items between companies in the same group	175
Note 15 Subsequent events	175
Note 16 Covid-19	175
Responsibility statement	176
Alternative performance measures	177
Auditor’s report	181

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