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    REP   ES0173516115

REPSOL S.A.

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Repsol S A : Interim condensed consolidated financial statements for the first half of 2021 - PDF (577 KB)

07/29/2021 | 03:17am EDT

Repsol, S.A. and investees comprising the Repsol Group

Report on limited review of condensed interim consolidated financial statements and interim consolidated director´s Report at June 30, 2021

This version of our report is a free translation of the original, which was prepared in Spanish. All possible care has been taken to ensure that the translation is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over this translation.

Report on limited review of condensed interim consolidated

financial statements

To the shareholders of Repsol, S.A. at the request of the Board of Directors:

Introduction

We have performed a limited review of the accompanying condensed interim consolidated financial statements (hereinafter, the interim financial statements) of Repsol, S.A. (hereinafter, "the parent company") and investees comprising the Repsol Group (hereinafter, "the group"), which comprise the balance sheet as at June 30, 2021, the income statement, the statement of recognized income and expense, the statement of changes in equity, the statement of cash flows and related notes, all condensed and consolidated, for the six months period then ended. The parent company´s directors are responsible for the preparation of these interim financial statements in accordance with the requirements of International Accounting Standard (IAS) 34, "Interim Financial Reporting", as adopted by the European Union, for the preparation of condensed interim financial information, as provided in Article 12 of Royal Decree 1362/2007. Our responsibility is to express a conclusion on these interim financial statements based on our limited review.

Scope of Review

We conducted our limited review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A limited review of interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A limited review is substantially less in scope than an audit conducted in accordance with legislation governing the audit practice in Spain and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion on these interim financial statements.

Conclusion

Based on our limited review, that cannot be considered as an audit, nothing has come to our attention that causes us to believe that the accompanying interim financial statements for the six months period ended June 30, 2021 have not been prepared, in all material respects, in accordance with the requirements of International Accounting Standard (IAS) 34, "Interim Financial Reporting", as adopted by the European Union, for the preparation of condensed interim financial statements, as provided in Article 12 of Royal Decree 1362/2007.

PricewaterhouseCoopers Auditores, S.L., Torre PwC, Pº de la Castellana 259 B, 28046 Madrid, España

Tel.: +34 915 684 400 / +34 902 021 111, Fax: +34 915 685 400, www.pwc.es

1

R. M. Madrid, hoja 87.250-1, folio 75, tomo 9.267, libro 8.054, sección 3ª

Inscrita en el R.O.A.C. con el número S0242 - CIF: B-79 031290

Emphasis of Matter

We draw attention to Note 2.1, in which it is mentioned that these interim financial statements do not include all the information required of complete consolidated financial statements prepared in accordance with International Financial Reporting Standards, as adopted by the European Union, therefore the accompanying interim financial statements should be read together with the consolidated annual accounts of the group for the year ended December 31, 2020. Our conclusion is not modified in respect of this matter.

Other matters

Interim consolidated directors´ Report

The accompanying interim consolidated directors' Report for the six months period ended June 30, 2021 contains the explanations which the parent company´s directors consider appropriate regarding the principal events of this period and their impact on the interim financial statements presented, of which it does not form part, as well as the information required under the provisions of Article 15 of Royal Decree 1362/2007. We have verified that the accounting information contained in this directors' Report is in agreement with that of the interim financial statements for the six months period ended June 30, 2021. Our work is limited to checking the interim consolidated directors' Report in accordance with the scope mentioned in this paragraph and does not include a review of information other than that obtained from Repsol, S.A. and investees comprising the Repsol Group´s accounting records.

Preparation of this review report

This report has been prepared at the request of the Board of Directors in relation to the publication of the half-yearly financial report required by Article 119 of Royal Legislative Decree 4/2015 of 23 October, approving the revised text of the Securities Market Law developed by the Royal Decree 1362/2007, of 19 October.

PricewaterhouseCoopers Auditores, S.L.

Iñaki Goiriena Basualdu

July 29, 2021

Translation of a report originally issued in Spanish

In the event of a discrepancy, the Spanish language version prevails

Financial Statements H1 2021 | Repsol Group

Repsol, S.A. and Investees comprising the Repsol Group

Balance sheet at June 30, 2021 and December 31, 2020

€ Million

ASSETS

Note

06/30/2021

12/31/2020

Intangible assets

3,313

3,353

Property, plant and equipment

3.1.1

20,684

20,927

Investments accounted for using the equity method

3.1.2

3,515

5,897

Non-current financial assets

969

916

Deferred tax assets

3,485

3,745

Other non-current assets

965

880

NON-CURRENT ASSETS

32,931

35,718

Non-current assets held for sale

3.1.9

830

5

Inventories

3.1.9

4,616

3,379

Trade and other receivables

3.1.9

5,231

4,056

Other current assets

288

239

Other current financial assets

3.1.6

1,697

1,584

Cash and cash equivalents

3.1.6

4,914

4,321

CURRENT ASSETS

17,576

13,584

TOTAL ASSETS

50,507

49,302

€ Million

EQUITY AND LIABILITIES

Note

06/30/2021

12/31/2020

Shareholders' equity

21,236

21,185

Other cumulative comprehensive income

(529)

(890)

Non-controlling interests

255

244

EQUITY

3.1.4

20,962

20,539

Non-current provisions

3,602

3,572

Non-current financial liabilities

3.1.5

8,547

12,123

Deferred tax liabilities and other tax items

2,161

2,142

Other non-current liabilities

538

407

NON-CURRENT LIABILITIES

14,848

18,244

Liabilities associated with non-current assets held for sale

3.1.9

582

-

Current provisions

639

740

Current financial liabilities

3.1.5

5,219

3,880

Trade and other payables

3.1.9

8,257

5,899

CURRENT LIABILITIES

14,697

10,519

TOTAL EQUITY AND LIABILITIES

50,507

49,302

Notes 1 to 7 are an integral part of the balance sheet.

2

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Repsol SA published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 07:16:10 UTC.


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