IBERSOL Annual Report and Consolidated Accounts 2017

ANNUAL REPORT 2017 Land Buildings Equipment Other tangible fixed Assets Tangible Assets in progress (1) Total 31 December 2017 Initial net amount 11.267.404 129.594.249 28.682.571 7.013.867 1.500.446 178.058.537 Changes in consolidat perimeter - - - - - - Hyperinflationary Econ- omies (IAS 29) (2) 4.080.348 8.651.564 3.298.994 847.509 128.459 17.006.874 Currency conversion -15.473 -39.843 -21.568 -4.851 -184 -81.919 Additions 56.250 19.394.715 9.055.620 2.376.456 1.293.809 32.176.850 Decreases - 917.791 61.047 -4.228 159.773 1.134.383 Transfers - 1.041.722 45.576 7.795 -1.086.883 8.210 Depreciation in the year 63.815 16.988.782 9.279.936 1.559.785 - 27.892.318 Deprec. by changes in the perim. - - - - - - Impairment in the year - 169.635 - - - 169.635 Impairment by changes in the perim. - - - - - - Impairment reversion - - - - - - Final net amount 15.324.714 140.566.200 31.720.210 8.685.219 1.675.874 197.972.217 31 December 2017 Cost 15.551.381 243.311.373 127.906.062 25.621.216 1.675.874 414.065.908 Accumulated depreciation 226.667 92.908.055 95.172.615 16.877.084 - 205.184.420 Accumulated impairment - 9.837.119 1.013.238 58.914 - 10.909.271 Net amount 15.324.714 140.566.200 31.720.210 8.685.219 1.675.874 197.972.217 (1) Changes refer mainly to the central kitchen in Portugal, whose (re) opening took place this year. (2)Changes resulting from the application of IAS 29, hyperinflationary economy, are presented as follows Restatement of Tangible Fixed Assets 01/01/2017 9.992.771 Reexpression of the year 2017 7.005.796 Restatement of acquisitions for the year 8.307 Total 17.006.874 Restatement of depreciation for the year -1.610.653 Tangible Fixed Assets 15.396.221 The 2016 investments of approximately 28.6 million in tangible fixed assets, relate to the opening of new units and remodelling of existing ones in Portugal and Spain. In 2017, an investment of approximately 2.7 million euros was made in the central kitchen in Portugal. The remaining investment mainly concerns the opening of 11 Burger King units, 4 KFC units, the opening of the concession at Santa Maria Airport (Azores) and a concession in the group Eat Out. 241