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6.2 ›

INDIVIDUAL FINANCIAL STATEMENTS

STATEMENTS OF FINANCIAL POSITION AS OF 31 DECEMBER 2016 AND 2015
(Amounts expressed in thousands of Euros – tEuros)

(Translation of consolidated statements of financial position originally issued in Portuguese - Note 30)

  NOTES '16 '15
ASSETS      
NON-CURRENT      

    Tangible assets

5 and 6

495

536

    Investments - equity method

7

885.354

922.114 

    Goodwill

8

3.397 

 3.774

    Available-for-sale financial assets

12

52.683 

50.271 

    Other receivables

10

1.473.755 

2.185.348

    Other financial assets

10

 4

2

    Derivative financial instruments

11

20.425

10.157

    Deferred tax assets

9

5.743

2.439

TOTAL NON-CURRENT ASSETS      

2.441.856

3.174.639

CURRENT
     

    State and other public entities

16

1

6.588

    Other receivables

10

1.438.297

625.919

    Deferrals

 

94

98

    Other financial assets

10

1.317

1.510

    Cash and bank deposits

4

9.804

6.771

TOTAL CURRENT ASSETS  

1.449.512

640.886

TOTAL ASSETS  

4.549.825

4.589.953

EQUITY AND LIABILITIES      
EQUITY      

    Share Capital

13

534.000

534.000

    Own shares

13

(10.728) 

(10.728) 

    Legal reserve

13

106.800 

102.608 

    Other reserves

13

175.113 

179.933

    Adjustments to financial assets

13

(43.714) 

43.077 

    Retained earnings

 

292.552

 
277.083

    Other changes in equity

 

30

 

30

 
   

1.054.053

1.126.004

Net profit for the period

 

93.805

110.311

TOTAL EQUITY  

1.147.859

1.236.315

LIABILITIES      
NON-CURRENT      

    Borrowings

15

2.311.602

1.798.513

    Provisions

14

664

263

    Post employment benefit liabilities

  9 8

    Derivative financial instruments

11

12.212

8.426

    Deferred tax liabilities

9

2.334

9
TOTAL NON-CURRENT LIABILITIES  

2.326.821

1.807.219

       
CURRENT      

    Borrowings

15 330.311 705.179

    Provisions

14 200 -

    Trade payables

15 1.578 1.570

    State and other public entities

16 27.317 568

    Derivative financial instruments

11 1.063 5.918

    Other payables

15 56.220 58.757
TOTAL CURRENT LIABILITIES  

416.689

771.990

TOTAL LIABILITIES  

2.743.510

2.579.209

TOTAL EQUITY AND LIABILITIES  

3.891.368

3.815.525 

 

STATEMENTS OF PROFIT AND LOSS BY NATURE FOR THE YEARS ENDED 31 DECEMBER 2016 AND 2015
(Amounts expressed in thousands of Euros – tEuros)

(Translation of consolidated statements of financial position originally issued in Portuguese - Note 30)

REVENUES AND EXPENSES NOTES '16 '15

Services rendered

17 12.954 13.117

Gains / (losses) from associates and joint ventures

7 and 18 90.544 108.200

Suppliers and services

19 (7.321) (7.237)

Personnel costs

20 (6.881) (7.502)

Provisions (increases)/decreases

14 (200) 7

Impairments on investments (charge)/reversal

12 92 (600)

Other income

21 178 271

Other expenses

22 (662) (863)
PROFIT BEFORE AMORTIZATION, DEPRECIATION, FINANCE COSTS AND TAXES   88.704 105.394

Depreciation and amortization (charge)/reversal

5 and 8 (556)

(178)

OPERATING PROFIT (BEFORE FINANCE COSTS AND TAXES)  

88.147

105.217

Interest and similar income

 23 108.038

114.555

Interest and similar costs

23

(101.294)

(110.661)
Dividends 24 1.120

1.452

PROFIT BEFORE TAXES  

 

96.012

110.563

Income tax expense for the period 9 (2.207)

(252)

NET PROFIT FOR THE PERIOD   93.805

110.311

BASIC EARNINGS PER SHARE   0,18

0,21 

 

STATEMENTS OF CHANGES IN EQUITY FOR THE YEARS ENDED 31 DECEMBER 2016 AND 2015
(Amounts expressed in thousands of Euros – tEuros)

(Translation of consolidated statements of financial position originally issued in Portuguese - Note 30)

'15                        
  NOTES CAPITAL OWN SHARES LEGAL RESERVE HEDGING RESERVE (NOTE 11) FAIR VALUE RESERVE (NOTE 12) OTHER RESERVES ADJUSTMENTS/OTHER CHANGES IN EQUITY RETAINED EARNINGS ADJUSTMENT OF FINANCIAL ASSETS (NOTE 7 AND 13) NET PROFIT FOR THE PERIOD TOTAL EQUITY
BALANCES AT THE BEGINNING OF 2015   534.000

(10.728)

97.295

(19.468)

3.172

180.189  - 266.789 54.433 106.257

1.211.940

CHANGES IN THE YEAR:                        

Changes in fair value

 

11 and 12

 -  - -

10.509

 5.532  -  -  -  -  - 16.040

Appropriation of the profit for the preceding year

13 - - 5.313 - - - -

10.294

 

(15.607)

 -

Adjustments in financial assets

7 - -

-

- - - - -  

(11.356)

 -  (11.356)

Other Changes

              30        30
        5.313 10.509 5.532 - 30 10.294 (11.356) (15.607) 4.715
OPERATIONS DURING THE YEAR WITH SHAREHOLDERS   - -                  

Distribution of dividends

13 - -               (90.650) (90.650)
                     

(90.650)

(90.650)

Net profit for the year

                    110.311

110.311

Comprehensive income

   -  -  - 10.509 5.532  - 30  - (11.356) 110.311 115.026
BALANCES AT THE END OF 2015

 

534.000 (10.728)

102.608

(8.960)

8.704

180.189  30

277.083

43.077

110.311

1.236.315

 

 

 

'16                        
  NOTES CAPITAL OWN SHARES LEGAL RESERVE HEDGING RESERVE (NOTE 11) FAIR VALUE RESERVE (NOTE 12) OTHER RESERVES ADJUSTMENTS/OTHER CHANGES IN EQUITY RETAINED EARNINGS ADJUSTMENT OF FINANCIAL ASSETS (NOTE 7 AND 13) NET PROFIT FOR THE PERIOD TOTAL EQUITY 
BALANCES AT THE BEGINNING OF 2016   534.000

(10.728) 

102.608

(8.960) 

8.704 

180.189  30 277.083 43.077 110.311

1.236.315

CHANGES IN THE YEAR:                        
Changes in fair value  

11 and 12

 -  - -

(4.898)

78

 -  -  -  -  -

(4.821)

Adjustments in financial assets

13 - -

4.192

- - - -

15.469

(19.661)  -

Appropriation of the profit for the preceding year

7 - -

-

- - - - - (86.791)  -

(86.791)

       

4.192

(4.898)

78

- -

15.469

(86.791)

(19.661)

(91.612)

OPERATIONS DURING THE YEAR WITH SHAREHOLDERS                        

Distribution of dividends

13 - - (90.650) (90.650)
                     

(90.650) 

(90.650)

Net profit for the year

  - -              

93.805

93.805 

Comprehensive income

   -  -  -

(4.898)

78  - -  -

(86.791)

93.805 2.193
BALANCES AT THE END OF 201

 

534.000 (10.728)

106.800

(13.858)

8.782

180.189  30

292.552 

(43.714) 

93.805

1.147.859

 

STATEMENTS OF CASH FLOW FOR THE YEARS ENDED 31 DECEMBER 2016 AND 2015
(Amounts expressed in thousands of Euros – tEuros)

 (Translation of consolidated statements of financial position originally issued in Portuguese - Note 30)

  NOTES '16 '15 
CASH FLOW FROM OPERATING ACTIVITIES:      

Cash receipts from customers

 

18.394

18.980

Cash paid to suppliers

 

(10.326)

(9.490) 

Cash paid to employees

 

(7.235)

 (7.681)

CASH GENERATED BY OPERATIONS  

832

1.808 

Income tax received/(paid)  

8.588 

8.409 

Other receipts/(payments) relating to operating activities

 

(2.955) 

(3.603)
FLOWS GENERATED BY/(USED IN) OPERATING ACTIVITIES [1]  

6.465 

6,615 

FLOWS FROM INVESTING ACTIVITIES:      
RECEIPTS RELATING TO:      

Available-for-sale financial assets

   92  -

Other financial assets

10   100.857

Borrowings

  144.204 

76.683

Interest and other similar income

  103.346 

110.731 

Dividends

7 and 24 

91.408 

92.098

PAYMENTS RELATING TO:  

 

 

Financial investments

7 (50.620)  (12.800) 

Borrowings

  (110.000) 

Tangible assets

  (20) (2)
    (50.641)   (122.802)
FLOWS GENERATED BY INVESTING ACTIVITIES [2]  

 

 

FLOWS FROM FINANCING ACTIVITIES:

     

Receipts relating to:

     

Borrowings

 

5.615.427

3.215.907

   

5.615.427

3.215.907

Payments relating to:

     

    Borrowings

 

(5.711.818) 

(3.351.279)

    Interest and other similar expense

 

(104.801)

(98.707)

    Dividends 

13 (90.650)

(90.650)

     (5,907,269)

(3,540,636)

FLOWS USED IN FINANCING ACTIVITIES [3]  

(291,842) 

(324,729)

CHANGES IN CASH AND CASH EQUIVALENTS [4]=[1]+[2]+[3]  

3,033 

(60,548) 

CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR 4

6,771

67,319 

CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 4

9,804

6,771