PERU LNG 2021 Annual Report
ANNUAL REPORT
PERU LNG 2021
Statement of financial position
(In thousands of United States dollars)
CHAPTER 7
FINANCIAL INFORMATION
2020
8
(152 810)
43 802
(109 008)
(109 008)
Results - 2020
Total earnings at year end 2021 amounted to USD 1
608 million, a figure 252% higher (USD 1,151 million)
than that for 2020, which was USD 457 million. This
change is explained by the increase in the main LNG
spot prices, as explained in the previous section.
The sales cost increased from USD 500 million at
the close of 2020 to USD 1 467 million in 2021 due
to an increase in the unit cost of gas acquired for
production. Fixed costs and depreciation over the
year make up a significant percentage of this figure.
Management costs in 2021 totalled USD 120
million, USD 93 million higher than the previous
year (USD 27 million) because of a reclassification
of certain fixed costs in accordance with accounting
standards, resulting from the force majeure events
that occurred during 2021.
Financial expenses recorded as at the 31st December
2021 amounted to USD 55 millions, an increase of
USD 1 million over the previous year (USD 54 million).
Cash and cash equivalents at the close of 2021
amounted to USD 89 million, affected principally
by cash spending on the force majeure events and
financial obligations during the year. As at the date
of issue of the audited financial statements, the
company forecasts that it will have sufficient cash to
meet its commitments assumed in 2021 and for its
working capital.
Total assets at the close of 2021 amounted to USD
2 675 million, 9% more (USD 226 million) than the
USD 2 450 million figure for 2020. This variation is
explained principally by the net effect of an increase
of USD 229 million in accounts receivable from non-
arms-length parties, as well as by a USD 113 million
reduction in property, plant & equipment, net of
depreciation during the year.
Total liabilities as at the 31st of December 2021 were
USD 1 586 million, 21% more (USD 271 million) than
the figure of USD 1 314 million recorded in 2020.
This is explained mainly by variations in the trade
accounts payable account caused by an increase
in provisions for raw material purchases after
international prices rose in the third quarter of 2021.
In thousands of United States dollars
2021
Earnings from ordinary activities
Sales cost
Gross Margin
1 608 403
(1 466 696)
141 707
Administrative costs
(119 775)
Sale and distribution costs
(26 986)
456 910
(499 638)
(42 728)
(26 602)
(27 558)
Other operating income
975
Operating results
(4079)
Financial income
Financial expenses
Exchange rate difference, net
(3628)
(96 880)
1 574
(54 495)
(3009)
Loss before taxes
(62 515)
Corporation tax
16 794
Results of the financial year
(45 721)
Other integral results
Other integral results, net of tax
Total integral results for the fiscal year
(45 721)
94
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