IBERSOL | Integrated Management Report - 2024

Consolidated Financial Statements 8.7. Financial activity result Accounting policies Financial charges associated with loans obtained (interest, premiums, ancillary costs and interest on finance leases) are recognized as an expense in the income statement for the period in which they are incurred, in accordance with the accruals principle. If they relate to qualifying assets, financial charges are duly capitalized as defined in the applicable IFRS. Financial expenses and losses in 2024 and 2023 are presented as follows: Financial expenses 2024 2023 Interest from lease liabilities (IFRS16) 14 805 610 10 113 570 Interest expenses with financing 877 144 2 436 470 Other financial expenses 1 063 665 1 780 998 16 746 419 14 331 038 Liability interest on leases (IFRS16) by geography, are presented as follows: 2024 2023 Spain 11 313 318 6 973 381 Portugal 3 332 157 2 979 544 Angola 160 135 160 645 14 805 610 10 113 570 The detail of other financial expenses is presented as follows: 2024 2023 Bank services 533 370 483 841 PPC commissions 37 906 131 075 Other commissions 15 572 16 319 Other financial costs 476 816 1 149 763 1 063 665 1 780 998 446