IBERSOL Annual Report and Consolidated Accounts 2017

Consolidated Financial Statements On 31st December 2017 and 2016, the consolidated statements of financial position, of comprehensive income and consolidated cash flows statements of Ibersol’s jointly controlled interest UQ Consult, were as follows Balance sheet Dec. 2017 Dec. 2016 Tangible and intangible assets 1.011.660 498.954 Receivables from third parties 806.887 965.383 Cash and cash equivalents 39.013 54.520 Accruals and deferrals 288.609 192.433 Total assets 2.146.169 1.711.290 Equity 502.807 497.297 Long term term debts 488.296 127.719 Short term debts 971.914 929.922 Accruals and deferrals 183.152 156.352 Total liabilities 1.643.362 1.213.993 Total equity and liabilities 2.146.169 1.711.290 Profit and loss account Dec. 2017 Dec. 2016 Operating income 2.804.942 2.704.418 Operating costs -2.719.008 -2.638.189 Net financing cost -32.415 -28.230 Pre-tax income 53.519 37.999 Income tax -48.009 -38.520 Net profit 5.510 -521 Cash flows statement 2017 2016 Flows from operating activities 323.561 129.369 Flows from investment activities -158.934 -330.613 Flows from financing activities -160.134 99.487 Change in cash & cash equivalents 4.493 -101.757 Transactions between jointly controlled subsidiary UQ Consult and the Ibersol group were carried out at market prices. 250