IBERSOL | Annual Report 2020

Consolidated Financial Statements 1 January 2020 121.162.682 Loan receipts obtained 76.368.848 Financial debt payments -26.569.061 Variation effect of bank overdrafts -3.739.037 Financing assembly costs -793.492 Others -1.361.359 31 December 2020 165.068.581 Using the functional currency in which they were subscribed, total loans as at 31 De- cember 2020 and 2019 were as follows: dec/2020 dec/2019 EUR 164.993.444 111.554.094 AOA 741.666.667 3.146.722.026 At the end of the period the Group had 46 million Euros of unissued commercial paper programmes and available but not disposable credit lines. Long-term loans contracted under the acquisition of Eat Out Group include clauses with the following financial covenants: Financial Covenants SPAIN (EOG Consolidated) PORTUGAL (Consolidated) Debt/EBITDA 2,5x to 1,5x 3,5x a) from 2017 to 2021 with reductions of 0.25 per year Debt/EBITDAR 4,5x EBITDA/Financial Cost 5x - Equity/Assets - 30% a)Debt / EBITDA without effects from the application of IFRS 16 (fozzen gapp). On 31 December 2020 Ibersol Group obtained exemption from compliance with fi- nancial covenants for financing contracts with a total amount owed at the end of the period in the amount of 60.2 million Euros. According to the contractual plans cur- rently in force, this amount will amount to 61.4 million Euros at the end of 2021, and the Group is already in discussion with the respective financial institutions on this issue. No relevant impacts of changes in financing contracts were identified in the light of the provisions of IFRS 9. 372