IBERSOL | Integrated Management Report 2022

Consolidated Financial Statements The numbers relating to the Burger King operation, in respect of both the restaurants already sold and the restaurants to be transferred under this operation (“carve ins”) are presented in the consolidated statement of income and other comprehensive income as “discontinued operations” (see note 6.7). The comparatives for the year 2021 have also been restated to include the Burger King activity as discontinued operations”. 2.1. Bases of presentation 2.1.1. Approval of the financial statements The financial statements were approved by the Board of Directors and authorized for issue on 26 April 2023. The shareholders have the right not to approve the accounts authorized for issue by the Board of Directors and to propose their amendment. 2.1.2. Accounting standards These consolidated financial statements were prepared in accordance with the Inter- national Financial Reporting Standards (IFRS) issued by the International Account- ing Standards Board (IASB) and with the interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC) or by the previous Standards Interpretation Committee (SIC), as adopted and effective in the European Union on 1 January 2022. In the case of Group companies using different accounting standards, conversion adjustments were made to the IFRS. 2.1.3. Measurement basis The consolidated financial statements were prepared on a going concern basis (note 7), under the historical cost convention, changed to fair value in the case of deriva- tive financial instruments. The preparation of the financial statements requires estimates and management judgments. 2.1.4. Comparability The consolidated financial statements are comparable in all material respects with the prior year, considering the effects of the restatement arising from what was re- ferred to in the Introductory Note. 2.1.5. Consolidation Bases 2.1.5.1. Subsidiaries Under IFRS10 - Consolidated Financial Statements, investments in companies in which the Group is exposed, or has rights, to variable returns from its involvement in those companies and has the ability to influence those returns through its power over those companies (definition of control used by the Group), were included in these consolidated financial statements using the full consolidation method. The eq- uity and net income of these companies, corresponding to third party participation in them, are presented separately in the consolidated statement of financial position and statement of comprehensive income, under the heading non-controlling inter- ests. The companies included in the financial statements are listed in Note 1.1. 388