IBERSOL | 2019 Annual Report

2019 ANNUAL REPORT By the end of the year the total number of units – self owned and fran- chised – was 659, distributed in the following manner: Other operational income amounted to 13.3 million euros, compared to 9.9 million euros of 2018, due to the positive differences in currency re- gistered in the activities in Angola. Operational Costs (without IFRS16) Consolidated operational costs (without IFRS16) amounted to 471 mi- llion euros, which represents an increase of 9.8% compared to the pre- vious year, now representing 97.0% of business volume (2018: 95.3%). Gross Margin The gross margin was 75.8% of the business volume, in keeping with the previous year. Salaries and personnel costs Personnel costs rose 10.8%, above the business increase of 7.8%, repre- senting 31.3% of the turnover (2018: 30,5%). Three factors contributed to this item: (i) the effect of the rise in mi- nimum wage in Portugal and the revision of collective agreements in Equity Franchise 547 112 105