ANNUAL REPORT 2021

17 18 11 OTHER ASSETS Other current assets consist of the following: 31 December 2021 31 December 2020 Prepaid expenses 188 591 133 916 Accrued income 20 558 15 732 Emission rights 1 781 464 418 975 Total 1 990 613 568 623 Prepaid expenses mainly represent prepaid insurance premiums and prepaid expenses from overhead invoices. Accrued income represents accrued interest. Emission rights comprise emission rights purchased in 2020 and 2021. 12 CASH AND CASH EQUIVALENTS 31 December 2021 31 December 2020 Cash on hand 25 896 38 706 Bank balances and deposits 150 102 440 554 Cash and cash equivalents on the balance sheet 175 998 479 260 Cash and cash equivalents in the statement of cash flows 175 998 479 260 13 EQUITY Share capital The authorised share capital comprised 2 384 135 ordinary shares (31 December 2020: 2 384 135 ordinary shares) with a face value of EUR 34 per share. The authorised share capital was fully paid as at 31 December 2021 and 31 December 2020. The share capital was registered with the Commercial Register. Legal reserve fund The legal reserve fund may not be distributed among the shareholders. It is designed to cover future losses from operations and to increase the share capital in accordance with the valid regulations. Settlement of loss incurred in 2020 Based on a decision ofthe General Meeting held on 21 June 2021, a loss of EUR 3 011 thousand forthe year ended 31 December 2020 was settled from Retained earnings from previous years. 14 INTEREST-BEARING LOANS AND BORROWINGS 31 December 2021 31 December 2020 Loans 41 300 000 27 600 000 Overdraft facilities 5 968 198 4 952 374 Borrowing received from the Company’s ultimate owners 14 360 000 15 370 000 Total interest-bearing loans and borrowings 61 628 198 47 922 374 Loans by currency: EUR - Fixed interest rate 14 360 000 15 370 000 EUR - Floating interest rate 47 268 198 32 552 374 Total 61 628 198 47 922 374 Repayments of loans are scheduled as follows: Within one year 38 078 198 20 552 374 More than one year, less than two years 11 550 000 15 370 000 More than two years, less than three years 12 000 000 - More than three years, less than four years - 12 000 000 More than four years, less than five years - More than five years - - Total 61 628 198 47 922 374 Current portion Loans and borrowings 38 078 198 20 552 374 Total 38 078 198 20 552 374 Loans and borrowings Interest rates of loans and borrowings: EUR - Fixed interest rate 2.00% EUR - Floating interest rate 1M – 6M EURIBOR +1.2 – 1.45% p.a.; EONIA+1.15 – 1.20% The fair value of loans and borrowings approximates their carrying amount. The fair value represents cash flows discounted with the relevant interest rate that, according to the assumption of the Company’s management, may be collected on the reporting date. The Company’s management has been in contact with the financing banks regarding compliance with the requirements resulting from the signed loan agreements. Given that based on the reported H1 operating results, the Company was unable to comply with the financial covenants as at 30 June 2021 under the loan agreements, the financing banks granted the Company an exemption as regards non - compliance at that date, and thus waived all their rights under the existing loan agreements in this respect. As at 31 December 2021, the Company complied with all the monitored financial covenants. NOTES TO THE SEPARATE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (IN EUROS)