Boskalis Annual Report 2020

114 114 of Profit or Loss and to future (project) revenues. This allocation of project revenue is based upon

judgements and estimates of total (project) revenues, including variable considerations, disputed claims with customers, contract modifications, and expected total costs of the projects. Different estimates would have resulted in different, either higher or lower, revenues, and related costs, for the year. Revenue, and related costs, recognized in the Consolidated Statement of Profit or Loss is not expected to be materially impacted by such judgements and estimates. Looking with hindsight at the judgements and estimates made regarding revenue recognized, no material amount of the revenues recognized in 2019 should have been accounted for as revenue in 2020, of the revenues recognized in 2018 relates approximately 1.6% to 2019.

21. TRADE AND OTHER RECEIVABLES

2019

2020

Trade receivables

378,489

276,502

Amounts due from joint ventures and associates

5,927

5,269

Other receivables and prepayments

317,796 702,212

228,159 509,930

Other receivables and prepayments include prepaid and/or pre-charged expenses by subcontractors and suppliers. Also, amounts are included that results from the proportionate consolidation of the project driven construction consortiums.

22. CASH AND CASH EQUIVALENTS

2019

2020

Bank balances and cash Short-term bank deposits Cash and cash equivalents

375,900 23,674 399,574

601,797 222,750 824,547

Bank overdrafts

- 29,775 369,799

- 9,555 814,992

Net cash and cash equivalents in the consolidated statement of cash flows

ANNUAL REPORT 2020 – BOSKALIS FINANCIAL STATEMENTS 2020 A NUAL REPORT 2020 -- BOSKALIS FINANCIAL S AT MENTS 20 23. GROUP EQUITY SHARE CAPITAL (in number of ordinary shares) Repurchased shares Treasury stock

Cash and cash equivalents include EUR 79.5 million (2019: EUR 93.4 million) held by project-driven construction consortiums (joint operations). The Group held EUR 3.9 million (2019: EUR 1.5 million) subjected to local regulations limiting the transfer of these funds. The other cash and cash equivalents are at the free disposal of the Group.

The authorized share capital of EUR 4.8 million (2019: EUR 4.8 million) is divided into 240,000,000 (2019: 240,000,000) ordinary shares with a par value of EUR 0.01 (2019: EUR 0.01) each and 80,000,000 (2019: 80,000,000) cumulative protective preference shares with a par value of EUR 0.03 (2019: EUR 0.03) each.

Movements of the ordinary shares issued were as follows:

2019

2020

Issued and fully paid shares entitled to dividend as at 1 January

134,067,826 - 2,341,189 131,726,637

131,726,637 - 1,506,377 130,220,260

Issued and fully paid shares entitled to dividend as at 31 December

3,651,701

57,572

Issued and fully paid shares as at 31 December

135,378,338

130,277,832