IBERSOL | 2019 Annual Report

Consolidated Financial Statements IBERSOL S.G.P.S., S.A. CONSOLIDATED CASH FLOW STATEMENTS FOR THE YEAR ENDED 31 ST DECEMBER, 2019 (values in euros) Years ended on December 31st Note 2019 2018 Cash Flows from Operating Activities Receipts from clients 482 663 989 447 380 756 Payments to supliers -215 203 070 -258 891 439 Staff payments -133 584 413 -134 216 255 Flows generated by operations 133 876 506 54 273 062 Payments/receipt of income tax -1 060 590 -2 124 359 Other paym./receipts related with operating activities -15 838 149 -7 778 706 Flows from operating activities (1) 14 116 977 767 44 369 997 Cash Flows from Investment Activities Receipts from: Financial investments 135 987 489 152 Tangible fixed assets 17 441 31 251 Investment benefits 105 376 Interest received 27 1 937 966 1 772 469 Other financial assets 11 5 702 932 5 387 056 Payments for: Financial Investments 5 359 784 2 041 029 Other financial assets 11 0 2 950 017 Tangible fixed assets 44 997 504 25 565 440 Intangible assests 3 614 955 3 599 069 Other investments 4 000 000 Flows from investment activities (2) -41 177 917 -30 370 251 Cash flows from financing activities Receipts from: Loans obtained 17 34 186 930 11 786 179 Payments for: Loans obtained 17 38 258 742 19 474 431 Amortisation and interest of liability for leases 17 61 343 677 1 102 878 Interest and similar costs 27 5 125 425 4 897 400 Dividends paid 31 3 366 781 3 144 647 Acquisition of own shares 16 548 Flows from financing activities (3) -73 907 695 -16 833 725 Change in cash & cash equivalents (4)=(1)+(2)+(3) 1 892 155 -2 833 979 Change in the perimeter 744 089 Cash & cash equivalents at the start of the period 32 048 560 34 882 539 Cash & cash equivalents at end of the period 14 34 684 804 32 048 560 The Board of Directors Oporto, 05 th May 2020 206