IBERSOL | Annual Report 2020

Consolidated Financial Statements IBERSOL S.G.P.S., S.A. CONSOLIDATED CASH FLOW STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2020 (value in euros) Years ended on December 31st Note 2020 2019 Cash Flows from Operating Activities Receipts from clients 293.355.963 482.663.989 Payments to supliers -1 53 . 530 . 820 -215.203.070 Staff payments -94.831.388 -133.584.413 Flows generated by operations 44 . 993 . 755 133.876.506 Payments/receipt of income tax 320.046 -1.060.590 Other paym./receipts related with operating activities -21.574.032 -14.142.446 Flows from operating activities (1) 14 23.739.769 118.673.470 Cash Flows from Investment Activities Receipts from: Financial investments 111.330 135.987 Tangible fixed assets 1.412 17.441 Interest received 25 1.125.648 1.937.966 Other financial assets 11 12.170.433 5.702.932 Payments for: Financial Investments 5 250.840 359.784 Tangible fixed assets 27.852.187 44.997.504 Intangible assests 2.299.083 3.614.955 Flows from investment activities (2) -16.993.287 -41.177.917 Cash flows from financing activities Receipts from: Loans obtained 17 76.368.848 34.186.930 Payments for: Loans obtained 17 26.569.061 38.258.742 Leases agreements 17 27 . 325 . 135 43.819.138 Interest and similar costs 25 12 . 621 . 090 22.649.964 Dividends paid 29 3.366.781 Flows from financing activities (3) 9 . 853 . 562 -73.907.695 Change in cash & cash equivalents (4)=(1)+(2)+(3) 16.600.044 3.587.858 Change in the perimeter 744.089 Effects of exchange rate differences -735.471 -1.695.703 Cash & cash equivalents at the start of the period 34.684.804 32.048.560 Cash & cash equivalents at end of the period 2.24 and 14 50.549.377 34.684.804 The Board of Directors Porto, 27th April 2021 306