IBERSOL | Annual Report 2020

ANNUAL REPORT 2020 As at 31 December 2020 the future (contractual) Cash Flows concerning the above stated financial liabilities are broken down as follows: FC 2021 FC 2022 FC 2023 FC 2024 FC 2025 FC 2026/29 Bank loans 17.972.709 15.515.546 23.204.856 8.319.540 18.373.018 675.490 Commercial paper programmes 1.600.000 18.300.000 34.150.000 16.750.000 10.000.000 1.000.000 Interest 5.401.146 4.170.237 2.435.824 1.615.348 1.210.417 10.000 17.2 LEASE LIABILITIES As at 31 December 2020, the company has commitments made to third parties, aris- ing from lease contracts, namely real estate contracts. The breakdown of future pay- ments of lease payments, given their maturity, can be analyzed as follows: Current Non-current FC 2021 FC 2022 FC 2023 FC 2024 FC 2025 FC 2026/39 Total non- -current Leases 74.382.513 50.004.296 46.565.548 41.852.221 42.109.285 74.100.671 254.632.020 Interest 14.324.175 12.017.762 9.693.883 7.400.466 5.172.661 16.200.343 50.485.114 During 2020, the Group obtained discounts on rent payments, which resulted in the respective decrease in liabilities without an outflow of funds. According to Note 2.19, the group chose to adopt in advance the practical file issued by IASB regarding the accounting treatment of lease concessions, having recognized an impact, in the amount of 10,378,560 Euros, as less expense for the period (Note 22). During March 2021, and as described in Note 1, the Group filed a lawsuit against AENA concerning the values ​of the minimum guaranteed rents of space rental contracts in airports in Spain. As a result, the Group intends for the contract to be modified which, if verified, will result in the reduction of the minimum lease payments that are, as at 31 December 2020, included in the Group’s consolidated balance sheet as a current lease liability in the approximate amount of 48 million Euros (24 million Euros in 2020 and 2021) and non-current amount of 47 million Euros. The periods movements in leasing responsibilities are presented as follows:. 373