Page 99 - InterEnergo - Annual Report 2020

Interenergo Accounting report Interenergo Accounting report

The fair value levels of derivatives are hence determined on the basis of: 2.6 Related party transactions

• Level 1: prices for similar instruments i.e. the valuation is based on unadjusted prices of products that
are traded on active markets. At this level, the Company values futures contracts, whose market prices As at 31 December 2020, the Company recorded following equity interests in its subsidiaries:
are publicly listed on the EEX for each trading day but due to day-to-day settlement, the reported value of
assets or liabilities arising from this equals zero;
Subsidiary Address Country Equity interest
• Level 2: market inputs that can be observed directly if they are not Level 1 inputs. The aforesaid indicates
that the valuation is based on models, whose inputs are market parameters (stock prices). At this level, EHE d.o.o. Dunavska 1C, 78000 Banja Luka BA 100%
the Company discloses commodity forward contracts, cross-border transmission capacity contracts and Interenergo d.o.o. Fra Anđela Zvizdovića 1A/8, 71000 Sarajevo BA 100%
foreign currency forward contracts. Commodity forward contracts are valued on the basis of the hourly PLC Interenergo d.o.o. Osmana Đikića 30, 11000 Beograd RS 100%
price forward curves (HPFCs) derived from stock prices, whereas transactions related to cross-border
transmission capacities are based on differences between the relevant forward price curves. Foreign Hidrowatt d.o.o. Osmana Đikića 30, 11000 Beograd RS 88.87% indirect
currency forward contracts are valued on the basis of the market exchange rate and differences in the Interenergo Makedonija d.o.o.e.l. Gančo Hađipanzov 32, 1000 Skopje MK 100%
respective interest rates. Inter-Energo d.o.o. Vrbaska 42, 70240 Gornji Vakuf - Uskoplje BA 100%
The table below outlines the carrying amounts and fair values of financial assets and financial liabilities. The MHE Vrbnica d.o.o. Ulica 8. marta 74, 8100 Podgorica ME 70%
table is exclusive of disclosures about the fair values of financial assets and liabilities not measured at fair Interenergo d.o.o.-Kosova Sh.p.k. Sali Çeku str., Gogaj Building App. 14, Dečani XK 100%
value when the carrying amount is a sufficient approximation of fair value.
Lumbardhi Beteiligungs GmbH Arnulfplatz 2, 9020 Klagenfurt am Wörthersee AT 90%

KelKos Energy Sh.p.k. Sali Çeku str., Gogaj Building App. 14, Dečani XK 90% indirect
31 Dec 2020 31 Dec 2019
Eko-toplota energetika d.o.o. Tivolska cesta 48, 1000 Ljubljana SI 100%
Fair value Fair value
Carrying Carrying Vjetropark Jasenice d.o.o. Podudbina 15, 53234 Udbina HR 100%
in EUR amount Level 2 Total amount Level 2 Total
Solarne elektrane Bukovica d.o.o. Petra Zoranića 61, 23450 Obrovac HR 100%
Financial assets measured at
amortised cost 113,938,605 - 0 86,931,889 - 0 Hydro Ljutina d.o.o. Dragoljuba Savića 23, 31330 Priboj RS 100% indirect
Non-current loans granted 63,133,181 - - 43,439,876 - - Ekoenergo d.o.o.* Tivolska cesta 48, 1000 Ljubljana SI 100%
Non-current receivables 55,453 - - 59,130 - - Vjetroelektrana Orjak d.o.o. Trg žrtava fašizma 14, 10000 Zagreb HR 100%

Current investments 4,593,239 - - 3,110,672 - - Osen toplota d.o.o. Tivolska cesta 48, 1000 Ljubljana SI 100%
Trade and other receivables 26,029,010 - - 26,829,824 - - Solarne elektrane Nin d.o.o. Sajmišna 1, 40323 Prelog HR 80%
Prepayments, contract assets
and other assets 11,695,507 - - 7,437,375 - - * In February 2021, the company changes its name from Energetika Šentrupert d.o.o. to Ekoenergo d.o.o.
Cash and cash equivalents 8,432,215 - - 6,055,013 - -

Financial assets measured at In 2020, the Company acquired the sole (100%) interest in companies Vjetroelektrana, Orjak, d.o.o. and Osen
fair value 5,293,775 5,293,775 5,293,775 8,389,941 8,389,941 8,389,941 toplota, d.o.o., and an 80% equity interest in Solarne elektrane Nin, d.o.o. In addition, LSB Elektrane, d.o.o. was
Derivatives (assets) 5,293,775 5,293,775 5,293,775 8,389,941 8,389,941 8,389,941 in 2020 merged to EHE, d.o.o., and Zarja ekoenergija, d.o.o. to Eko-toplota energetika, d.o.o.
Financial liabilities measured at Company’s transactions and balances, as disclosed in the financial statements, comprise also transactions
amortised cost -82,938,735 - 0 -45,618,941 - 0 and balances relating to the company KI-Kelag International GmbH and KELAG-Kärntner Elektrizitäts-
Non-current financial liabilities -61,610,638 - - -24,285,059 - - Aktiengesellschaft, which are the parent companies of Interenergo and the companies Windfarm Balchik 1
OOD, Windfarm Balchik 2 OOD and Windfarm Balchik 4 OOD, which are associated companies.
Other non-current liabilities -556,018 - - -1,165,272 - -
Related party transactions are outlined below and are carried out by using the arm’s length principle that
Current financial liabilities -3,074,708 - - -4,749,460 - -
applies to transactions with non-Group entities.
Trade and other payables -17,697,371 - - -15,419,149 - -
Financial liabilities measured at
fair value -5,065,860 -5,065,860 -5,065,860 -5,865,698 -5,865,698 -5,865,698
Derivatives (liabilities) -5,065,860 -5,065,860 -5,065,860 -5,865,698 -5,865,698 -5,865,698

96 Integrated Annual Report 2020 Integrated Annual Report 2020 97