IBERSOL | Integrated Management Report - 2024

Consolidated Financial Statements 2024 < 1 year de 1 a 5 years > 5 years Borrowings 15 739 644 13 221 336 - Lease liabilities 75 000 106 140 723 578 73 762 314 Other non-current liabilities - 3 704 - Trade payables and accrued expenses 71 554 205 - - Other current liabilities 498 226 - - Total 162 792 181 153 948 617 73 762 314 2023 < 1 year de 1 a 5 years > 5 years Borrowings 15 790 517 12 663 526 - Lease liabilities 40 161 966 118 666 755 70 179 247 Other non-current liabilities - 3 704 - Trade payables and accrued expenses 71 192 348 - - Other current liabilities 592 529 - - Total 127 737 360 131 333 985 70 179 247 The increased costs shown above exclude remuneration payable (note 5.3.3.). The amount of other current liabilities excludes balances with the state and income to be recognized (note 5.3.). 7.5. Capital risk The company seeks to maintain a level of equity appropriate to the characteristics of the main business (cash sales and supplier credit) and to ensure continuity and expansion. The balance of the capital structure is monitored based on the financial leverage ratio (defined as: net interest-bearing debt / (net interest-bearing debt + equity)) with the aim of placing it in the 50%-75% range. On 31 December 2024 the ratio is below this range, still due to the inflow of funds from the Burger King sale. The financial leverage ratio on 31 December 2024 and 2023 is 34% and 16% respectively, as shown in the table below: dec. 2024 dec. 2023 Lease liabilities 289 485 998 229 007 968 Loans 28 960 979 28 454 044 Other financial assets -1 630 669 -1 580 739 Cash and bank deposits -140 659 284 -188 538 842 Net debt 176 157 025 67 342 431 Shareholders' funds 342 570 049 354 924 089 Total capital 518 727 074 422 266 519 Financial leverage ratio 34% 16% 430