IBERSOL Annual Report 2018

Consolidated Financial Analysis Besides the closing of concessions, 23 units were closed in Spain, 21 of which were franchises and 2 in Italy, in continuation of the network readjustment process. In Portugal 2 Pizza Huts, 2 Pasta Caffé, one KFC and the concessioned unit at the Exponor were closed, according to the terms of the respective contracts. Following the expansion strategy, four more franchises were opened (Pans and Ribs) as well as 38 self owned restaurants, 12 of which con- cessions and 26 self owned, 22 of which Burger King, Pizza Hut and KFC in Portugal and four in Spain, of which two Burger King, one Ribs and one Pans. By the end of the year we were operating 331 own units in Portugal, 175 in Spain and 10 in Angola. Equity Restaurants Angola Spain Portugal By the end of the year the total number of units – self owned and fran- chised – was 641, distributed in the following manner: 2017 600 500 400 300 200 100 0 2018 315 177 10 331 175 10 108