IBERSOL Annual Report 2018

Consolidated Financial Analysis Sales in Restaurants 2018 euro million % Ch. 18/17 Restaurants 101,82 2,4% Counters 204,26 0,1% Concessions&Catering 126,70 -7,7% Total Sales 432,78 -1,8% The pace of conversion of the new concessions, according to the pro- gramme and authorisation of the grantor, meant that only 9 of the 31 newly concessioned restaurants were operational in their final form, by the end of the year. At the Barcelona airport, where we ceased to operate 36% of restau- rants as of May, only 6 were converted to their final format. Of a total of 19 restaurants, 68% were operating provisionally, or with ongoing work. Out of a total of 6 concessions at the Málaga airport, 5 were being oper- ated in a reduced format until the end of 2018. Only 4 out of the 6 concessions in the Gran Canária airport have opened in their final format. The pace of conversions of the new concessions according to the pro- gramme and permissions of the grantor has not yet allowed us to re- cover the sales revenue of 2017, however, conversion of new restaurants are expected to be concluded by the end of the third quarter of the following year. Because of these effects, consolidated restaurant sales reached 432.8 million euros, which represents an annual decrease of 1.8%, compared to the 440.7 million euros of 2017. 106