IBERSOL | 2019 Annual Report

Consolidated Financial Analysis A total of 23 units were closed during 2019, 21 of which in Spain, in- cluding 14 franchises, and two in Italy. This was part of the network readjustment process. Following the expansion strategy, three more franchises were opened (Pans) as well as 38 self owned restaurants, 23 of which in Portugal (Burger King, Pizza Hut and KFC) and 15 in Spain (BK, Pans, Ribs, KFC) as well as five new restaurants in the new Alican- te, Málaga and Girona concessions. Towards the end of 2019 the group also brought Taco Bell to Por- tugal, converting 2 restaurants to the famous Mexican food brand. By the end of the year we were operating 354 own units in Portu- gal, 183 in Spain and 10 in Angola. Equity Restaurants Angola Spain Portugal 2018 600 500 400 300 200 100 0 2019 331 175 10 354 183 10 104