IBERSOL Annual Report 2018

ANNUAL REPORT 2018 Turnover Angola Spain Portugal Mn Euros 2017 500 450 400 350 300 250 200 150 100 50 0 2018 203 215 30 226 206 18 The positive evolution registered in Portugal allowed the group to mini- mise the TWO main impacts which affected its activity: a)the significant reduction of Angola’s contribution to turnover of more than 40%. The sales price increase of 28%, kept the turnover in local currency, however insufficient to compensate AKZ sharp devaluation (88%) compared to EUR. b) the drop in the number of concessioned restaurants in the Barce- lona airport as of May, from a quota of 70% to only 40% in the new concessions. The impact of this loss has not been offset yet by new concessions in other airports, since these are still being transformed and the full spaces being made available. The year of 2018 was therefore marked by the reconstruction of the business volume of the new concessions in the Barcelona, Gran Canária and Málaga airports. 105