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Notes to the Consolidated Financial Statements at 31 st December 2008 d) Other loans obtained On the 31 st December 2008, the other loans obtained by the Group correspond essentially to: • Loan contracted by the Group with IAPMEI, amounting to 131 thousand Euros, with respective reimbursement taking place on the 15 th February 2009. Non-current bank loans are reimbursable in the following years: 2008 2007 2009 - 561,846 2010 67,620 101,087 2011 86,684 124,684 2012 558,862 455,824 2013 and following years 707,883 200,840 1,421,049 1,444,281 On the 31 st December 2008 and 2007, financings in foreign currency were expressed in the following currencies: 2008 2007 Currency Currency Euros Currency Euros BRL 17,000 5,241 - - JPY 55,000 436 - - USD 96,926 69,646 13,142 8,927 In the loans denominated in foreign currency, interest matures at the market rate and was converted into Euro based on the existing exchange rate at the balance sheet date. 36 - PROVISIONS AND LOSSES DUE TO ACCUMULATED IMPAIRMENT The movement occurred in accumulated provisions during the years ended on the 31 st December 2008 and 2007, was the following: Provisions for Others, Law Other provisions Total legal and tax related to suits for risks risks personnel and charges Balance on the 1 st January 2007 41 5,187 26 442 5,696 Perimeter change - - 86 - 86 Exchange rate effect - - - (13) (13) Reinforcement 10,044 5,220 37 1,095 16,396 Decreases (41) - - (11) (52) Utilizations - (5,118) - (98) (5,216) Transfers - - 8 (91) (83) Balance on the 31 st December 2007 10,044 5,289 157 1,324 16,814 Balance on the 1 st January 2008 10,044 5,289 157 1,324 16,814 Exchange rate effect (2,349) - - (261) (2,610) Reinforcement 163 2,271 56 113 2,603 Decreases - - - (32) (32) Utilizations (72) (5,220) - (58) (5,350) Transfers - 8 (8) (32) (32) Balance on the 31 st December 2008 7,786 2,348 205 1,054 11,393 220
Notes to the Consolidated Financial Statements at 31 st December 2008 Reinforcements were done with counterpart of: 2008 2007 Financial year result: Provisions and losses due to impairment 248 109 Costs with personnel 2,263 5,233 Supplies and outsourcing 11 2 Results related to associated companies 64 69 Equity capital 17 10,983 2,603 16,396 On the 31 st December 2008, losses due to impairment of the non-current assets amounting to 1,570 thousand Euros were registered (Note 18). Reductions were done with counterpart of: 2008 2007 Financial year result: Provisions and losses due to impairment - (52) Results regarding investment activities (32) - (32) (52) 37 - SUPPLIERS AND OTHER CREDITORS On the 31 st December 2008 and 2007 this item was composed as follows: 2008 2007 Non-current liabilities: Suppliers - 781 Other creditors 25,342 49,384 25,342 50,165 Current liabilities: Suppliers 220,278 175,636 Fixed assets suppliers 2,353 11,742 Other creditors 31,508 6,546 254,139 193,924 279,481 244,089 38 - CREDITORS DUE TO FINANCIAL LEASING CONTRACTS On the 31 st December 2008 and 2007, the net value of assets purchased resorting to financial leasing amounted to: 2008 2007 Land and natural resources 4,081 4,081 Buildings and other constructions 236,363 21,512 Basic equipment 14,774 15,772 Transport equipment 3,270 3,645 Tools and utensils 20 115 Administrative Equipment 74 30 Other tangible fixed assets 178 14 258,760 45,169 221
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A N N U A L R E P O R T A N D A C C
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ANNUAL REPORT AND ACCOUNTS 2 0 0 8
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TEIXEIRA DUARTE - ENGENHARIA E CONS
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Organisational Chart - 2008 8 9
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