IBERSOL Annual Report and Consolidated Accounts 2017

Consolidated Financial Statements In 2016, Goodwill of the Eat Out Group, amounting to € 70.647.649, was calculated based on provisional amounts of the net assets acquired. In the table above, Goodwill amounting to EUR 52.353.777 represents the definitive amount calculated in 2017, after Pans and Ribs brands (EUR 22.000.000) acquired in the context of this concentration were recognized. The impact of this acquisition on the consolidated statement of comprehensive income in 2017 and 2016 is as follows: Dec-17 Nov and Dec/16 Operating income 168.908.200 25.894.108 Operating costs -164.659.617 -25.611.520 Financial income -1.206.281 -350.142 Investments income - - Income before taxes 3.042.302 -67.554 Tax income -1.209.343 -226.324 Net Income 1.832.959 -293.878 The determination of the definitive value of Goodwill implied the following changes in the consolidated statement of financial position and comprehensive income for 2016: 31-12-2016 Adjustment 31/12/2016 Re-expressed Fixed tangible assets (Notes 8 and 9) 179.388.621 -1.330.084 178.058.537 Goodwill 111.156.658 -18.293.872 92.862.786 Intangible assets (Note 9) 14.990.885 21.808.393 36.799.278 Deferred tax assets (Note 18) 8.555.186 -204.867 8.350.319 Other non-current assets 6.574.793 -80.466 6.494.327 Other current assets 28.584.565 -3.786.971 24.797.594 Deferred tax liabilities (Note 18) -10.187.932 -2.054.167 -12.242.099 Accounts payable to suppliers and accrued costs -69.304.753 3.804.533 -65.500.220 31-12-2016 Adjustment 31/12/2016 Re-expressed Amortisation, depreciation and impairment losses of TFA and IA 16.594.900 183.333 16.778.233 Income tax expense 5.883.386 -45.833 5.837.553 The restatement of the 2016 financial statements was exclusively the result of the definitive- determination of Goodwill resulting from the acquisition of the Eat Out group. 5.2.2. Disposals In the years ended December 31, 2017 and 2016 there were no disposals of subsidiaries. 234