Investor Presentaiton
En+
GROUP
FINANCIAL STATEMENTS
EN+ GROUP IPJSC
Notes to the Consolidated Financial Statements
for the year ended 31 December 2021
En+ Group Annual Report 2021
EN+ GROUP IPJSC
Notes to the Consolidated Financial Statements
for the year ended 31 December 2021
STRATEGIC REPORT
CORPORATE GOVERNANCE
EN+ GROUP IPJSC
Notes to the Consolidated Financial Statements
for the year ended 31 December 2021
(b)
Segment results, assets and liabilities
For the purposes of assessing segment performance and allocating resources between segments, the Group's
senior executive management monitor the results, assets and liabilities and cash flows attributable to each
reportable segment on the following bases:
•
•
Total segment assets include all tangible, intangible assets and current assets.
Total segment liabilities include all current and non-current liabilities.
Revenue and expenses are allocated to the reportable segments with reference to sales generated by
those segments and the expenses incurred by those segments or which otherwise arise from the
depreciation or amortisation of assets attributable to those segments.
The measure used for reporting segment results is the net profit and Adjusted EBITDA (key non-IFRS
financial measure used by the Group as reference for assessing operating effectiveness). Segment
profit or loss and Adjusted EBITDA are used to measure performance as management believes that
such information is the most relevant in evaluating the results of certain segments relative to other
entities that operate within these industries.
Adjusted EBITDA for any period represents the results from operating activities adjusted for
amortisation and depreciation, impairment charges and gain/(losses) on disposal of property, plant and
equipment for the relevant period.
In addition to receiving segment information concerning segment results, management is provided with
segment information concerning revenue (including inter-segment revenue), the carrying value of
investments and share of profits/(losses) of associates and joint ventures, depreciation, amortisation, interest
income and expenses, other finance income and costs, income tax, gains/(losses) on disposal of property,
plant and equipment, impairment of non-current assets and additions of non-current segment assets used by
the segments in their operations. Inter-segment pricing is determined primarily on a consistent basis using
market benchmarks.
Year ended 31 December 2021
USD million
Metals
Consolidated statement of profit or loss and other comprehensive income
Revenue from external customers
Primary aluminium and alloys
Alumina and bauxite
Semi-finished products and foil
Electricity
Heat
Other
Inter-segment revenue
Total segment revenue
Power
Adjustments
Total
2,336
11,790
14,126
9,766
9,766
612
612
515
252
767
159
1,366
1,525
53
412
465
685
306
991
204
802
11,994
3,138
(1,006)
(1,006)
Operating expenses (excluding depreciation and loss on disposal of PPE)
(9,101)
(1,966)
933
14,126
(10,134)
Adjusted EBITDA
2,893
1,172
(73)
3,992
Depreciation and amortisation
(596)
(229)
3
(822)
(Loss)/gain on disposal of PPE
(9)
4
(5)
Impairment of non-current assets
(209)
(58)
(267)
2,079
889
(70)
2,898
1,807
(5)
1,802
492
492
(329)
(316)
1
(644)
(408)
(2)
(410)
3,641
566
(69)
4,138
(416)
(192)
4
(604)
3,225
374
(65)
3,534
Additions to non-current segment assets during the year
(1,342)
(382)
7
(1,717)
Results from operating activities
Share of profits of associates and joint ventures
Gain from partial disposal of investment in associate
Interest expense, net
Other finance costs, net
Profit before tax
Income tax expense
Profit for the year
156
FINANCIAL STATEMENTS
Appendices
USD million
Metals
Power
Adjustments
Total
Consolidated statement of financial position
Segment assets, excluding cash and cash equivalents and interests in associates
and jointly ventures
14,908
5,594
(803)
19,699
Investment in Metals segment
4,595
(4,595)
Cash and cash equivalents
1,984
346
2,330
Interests in associates and jointly ventures
4,014
14
4,028
Total segment assets
20,906
10,549
(5,398)
26,057
Segment liabilities, excluding loans and borrowings and bonds payable
3,649
1,404
(218)
4,835
Loans and borrowings
6,733
4,178
10,911
Total segment liabilities
10,382
5,582
(218)
15,746
Total segment equity
10,524
4,967
(5,180)
10,311
Total segment equity and liabilities
20,906
10,549
(5,398)
26,057
Consolidated statement of cash flows
Cash flows from operating activities
1,146
1,022
2,168
Cash flows from (used in) investing activities
490
(205)
285
Acquisition of property, plant and equipment, intangible assets
(1,192)
(321)
(1,513)
Cash paid for investment in equity securities measured at fair value through
profit and loss
(291)
(291)
Cash (paid for) / received from other investments
Dividends from associates and joint ventures
Interest received
(50)
89
39
620
620
37
26
63
Proceeds from partial disposal of associate
1,421
1,421
Other investing activities
(55)
1
(54)
Cash flows used in financing activities
Interest paid
(1,891)
(800)
(2,691)
(380)
(323)
(703)
Restructuring fees and expenses related to issuance of shares
(34)
(2)
(36)
Settlements of derivative financial instruments
(315)
(315)
Other financing activities
(1,162)
(475)
(1,637)
Net change in cash and cash equivalents
(255)
17
(238)
157View entire presentation