IBERSOL Annual Report and Consolidated Accounts 2017

ANNUAL REPORT 2017 Outlook for 2018 In Portugal it is expected to maintain the sales trend of the last quarter, while in Spain the growth will be very moderated. A tender for restaurants in the Málaga airport is expected during the first semester. At the same time, a process for the gradual transition of opera- tions of the restaurants at Barcelona airport should also be taking place. The serious devaluation of the AKZ, in Angola, will determine a global in- crease in prices, which will probably result in a fall in trade and an inability to increase prices at the same pace as devaluation, leading to a steep fall in profitability. In terms of openings, we will try to maintain the rhythm of the expansion plans of recent years. 123