TAV IT

TAV AIRPORTS HOLDING AND ITS SUBSIDIARIES
CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2008
(Amounts expressed in Euro unless otherwise stated)
Notes 31 December 2008
Restated (*)
31 December 2007
EQUITY
Share capital 28 104,910,267 104,910,267
Share premium 220,182,481 220,182,481
Legal reserves 15,062,069 10,559,039
Revaluation surplus 2,665,932 3,007,539
Purchase of shares of entities under common control 40,063,860 40,063,860
Cash flow hedge reserve (31,301,803) -
Translation reserves (872,551) 343,039
Accumulated losses (56,688,149) (56,584,597)
Total equity attributable to equity holders of the Company 294,022,106 322,481,628
Minority interest 15,017,194 14,986,680
Total Equity 309,039,300 337,468,308
LIABILITIES
Loans and borrowings 30 876,556,773 763,812,573
Reserve for employee severence indemnity 31 3,247,519 4,884,107
Due to related parties 40 9,591,944 -
Deferred income 33 16,659,877 19,068,150
Long term trade payables 75,022 -
Deferred tax liabilities 22 5,752,448 4,581,203
Total non-current liabilities 911,883,583 792,346,033
Bank overdraft 26 1,844,425 1,970,698
Loans and borrowings 30 220,234,320 234,768,093
Trade payables 35 27,543,307 22,007,749
Due to related parties 40 52,428,667 29,298,699
Derivative financial instruments 36 69,699,812 17,144,780
Current tax liabilities 2,488,341 1,487,698
Other payables 32 25,299,953 18,014,081
Provisions 34 3,762,121 11,533,560
Deferred income 33 6,665,623 9,364,355
Total current liabilities 409,966,569 345,589,713
Total Liabilities 1,321,850,152 1,137,935,746
TOTAL EQUITY AND LIABILITIES 1,630,889,452 1,475,404,054
(*) See “Restatement of Prior Periods’ Financial Statements”-Note 43.
The accompanying notes form an integral part of these consolidated financial statements.