IBERSOL Annual Report and Consolidated Accounts 2017

ANNUAL REPORT 2017 Consolidated financial analysis In 2017 the result is strongly influenced by the consolidation of Eat Out Group. In order to better understanding the 2017 indicators, we consider the two perimeters, with and without consolidation of the Eat Out Group. For comparative purposes with the last year we will take as reference the adjusted accounts for 2016, in which we segregated the effect of fi- nancial compensation for the traffic losses, caused by the implementa- tion of tolls on the ex-Scuts and two months of Eat Out Group activity, acquired at the end of October 2016. In addition, in 2017 the financial statements of the subsidiaries in Angola were re-stated in accordance with IAS 29 - Financial Reporting in Hype- rinflationary Economies and whose main effects we will mention in the appropriate headings. 2017 2016 Total Total (without EOG) Total Total adj. (without EOG & non-recurring incomes>) Operating income Sales 443.270.117 285.516.884 268.831.784 246.267.738 Rendered services 5.058.977 653.454 1.000.611 619.337 Other operating income 9.781.036 3.031.595 9.089.970 3.797.818 Total operating income 458.110.130 289.201.932 278.922.365 250.684.893 Operating Costs Cost of sales 102.831.054 69.805.682 64.546.632 58.685.990 External supplies and services 149.502.177 85.543.072 83.879.682 74.660.725 Personnel costs 135.318.741 82.909.882 79.968.121 71.698.246 Amortisation, depreciation and impairm 31.922.475 18.608.276 16.778.233 14 .820.797 Other operating costs 5.180.157 3.228.079 3.418.918 3.299.131 Total operating costs 424.754.604 260.094.991 248.591.586 223.164.889 Operating income 33.355.526 29.106.941 30.330.779 27.520.003 EBIDTA 65.278.001 47.715.217 47.109.012 42.340.800 103