IBERSOL • 2023 Integrated Management Report

CONSOLIDATED FINANCIAL PERFORMANCE Gross margin The gross margin was 76.0% of turnover, 0.7 p.p. higher than the previ- ous year (2022: 75.3%), showing the stabilisation of raw material prices after the impact of inflation on food products in 2022.. Personnel costs The pressure to increase wage costs and the start of operations of the new concessions with lower productivity in the provisional formats led to an increase in staff costs of 20.8 per cent compared to the same pe- riod in 2022, with the weight of this cost representing 30.5% of turnover in 2023 (2022: 29.7%). External Supply and Services External supplies and services costs increased by 13.9% to 29.1% of turnover in 2023, which is equivalent to a 1.0 p.p. reduction in the weight of this cost compared to the 2022 of 30.1%. This increase was due to the recovery in traffic and consequent increase in rents at the airports under concession in Spain, which, with the exception of Menorca Airport (which reached 2019 traffic in 2022) and the new concession contracts for Lanzarote, Madrid, Tenerife andMalaga (renewed in January and coming into force in May, July and October respectively), are not relevant for the purposes of applying IFRS16 until they reach 2019 annual traffic. Other income and operational costs Other income and operating costs, totalling 4.9 million euros in 2023, represent a reduction of 0.9 million euros compared to 2022: 152