IBERSOL Annual Report and Consolidated Accounts 2017

Consolidated Financial Statements 17. LOANS On 31 December 2017 and 2016, current and non-current loans were broken down as follows:: Non-current Dec. 2017 Dec. 2016 Bank loans 33.633.490 36.240.663 Commercial paper programmes 71.750.000 90.500.000 Financial leasing 2.304.269 3.717.050 107.687.759 130.457.712 Current Dec. 2017 Dec. 2016 Bank overdrafts 20.344 1.805.643 Bank loans 7.593.061 25.456.275 Commercial paper programmes 24.250.000 7.250.000 Financial Leasing 1.463.577 1.822.031 33.326.982 36.333.949 Total loans 141.014.741 166.791.662 Average interest rate 2,8% 3,5% There are no significant differences between the balance sheet amounts and fair value of cur- rent and non-current loans. The maturities of non-current bank loans are broken down as follows: Dec. 2017 Dec. 2016 From 1 to 2 years 35.906.411 32.323.409 From 2 to 5 years 69.045.080 94.287.504 > 5 years 431.999 129.749 105.383.490 126.740.662 Regardless of its ending stated period, for the subscribed commercial paper programmes the Group considers the full repayment on its maturity date (the renewal date). Movements in 2017 and 2016 in current and non-current loans are as follows: 2017 2016 Opening balance 159.446.938 42.750.359 Currency translation and other adjustments 118.715 -1.089.137 Receipts 4.702.567 111.767.637 Payments -27.041.669 -10.874.643 Change in perimeter - 16.892.722 Final balance 137.226.551 159.446.938 260