IBERSOL Annual Report 2018

Consolidated Financial Analysis Other operational income amounted to 9.9 million euros, just 0.1 million euros above the results of 2017. Operational Costs Consolidated operational costs amounted to 429 million euros, which represents an increase of 0.9% compared to the previous year, now rep- resenting 95.3% of business volume (2017: 94.7%). Gross Margin The relative weight of the gross margin to the business volume regis- tered a drop of 77.1% in 2017 to 75.8% in 2018, reflecting the effect of the increase in the weight of merchandise sales. Discounting this effect, the gross margin would have been 77.3% of the business volume, not count- ing sales of merchandise. . Salaries and personnel costs Personnel costs rose 1.3%, slightly above the business increase of 0.4%, representing 30.5% of the business volume (2017: 30,2%). The effect of the rise in minimum wage in Portugal, of high training costs due to the opening of new units over the last quarter, operating in provisional formats in the new airport concessions and the preliminary agreement for Madrid, effective in 2018, contributed to the rise in the relative weight of this item. Supplies and External Services Costs with supplies and external services amounted to 149.9 million eu- ros, identical to the amount for 2017, equivalent to a slight increase of 0.3%. Consequently the weight of this item remained at 33.3% of business volume, despite the increase in leases of new concessions at airports, which are fully supported, despite not being fully operational, and the impact of the application of IAS17. 110