Notes to the Financial Statements - Efacec
Notes to the Financial Statements - Efacec
Notes to the Financial Statements - Efacec
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24. Dividend per share<br />
The dividends paid by <strong>Efacec</strong> Capital, SGPS in 2007 were 19,753,096 Euro (0.474 Euro per share). Of this fi gure, 7,537,096 Euro<br />
relate <strong>to</strong> retained earnings of 2006 and 12,216,000 Euro are anticipated dividends for <strong>the</strong> year ending 31 December 2007. During<br />
<strong>the</strong> previous year, 22.745,607 Euro were paid (0.546 Euro per share). Dividends for minority interest were 163,674 Euro (79,304<br />
Euro in 2006) and relate entirely <strong>to</strong> <strong>the</strong> subsidiary company EFACEC – Serviços de Manutenção e Assistência, S.A.<br />
F. O<strong>the</strong>r notes<br />
25. Contingencies<br />
The Group has contingent liabilities for bank guarantees and o<strong>the</strong>r contingencies related <strong>to</strong> its business. No signifi cant liabilities<br />
are thought <strong>to</strong> exist due <strong>to</strong> contingent liabilities.<br />
31.12.2007 31.12.2006<br />
Bills and o<strong>the</strong>r discounted securities 289.697 24.696<br />
Guarantees and performance bonds 217.140.025 163.684.507<br />
217.429.722 163.709.202<br />
26. Commitments<br />
26.1 Commitments for investments<br />
No materially relevant commitments made by <strong>the</strong> Group exist <strong>to</strong> acquire tangible or intangible fi xed assets.<br />
26.2 Commitments for operational leases, where <strong>the</strong> Group is lessee<br />
The Group leases a number of vehicles through irrevocable leasing contracts. The contracts have various lease periods, readjustment<br />
clauses and renewal rights. At <strong>the</strong> date of <strong>the</strong> balance sheet, <strong>the</strong> Group continued <strong>to</strong> have Long Term Rental contracts (“Renting”)<br />
considered as operational leases, for which future rental payments due <strong>to</strong>talled 3,903,052 Euro, with <strong>the</strong> following maturity<br />
dates:<br />
31.12.2007 31.12.2006<br />
Within 1 year 1.580.054 1.405.185<br />
Between 1 and 5 years 2.322.998 1.642.575<br />
Over 5 years 0 0<br />
27. Related party transactions/balances<br />
34<br />
3.903.052 3.047.760<br />
The scope of this note concerns <strong>the</strong> disclosure of transactions that <strong>to</strong>ok place during <strong>the</strong> period under consideration, and debit and<br />
credit balances between <strong>the</strong> <strong>Efacec</strong> Group and entities which can be considered as related parties, taking in<strong>to</strong> consideration <strong>the</strong><br />
decision making infl uence involved. Related parties are unders<strong>to</strong>od as Associated companies, Shareholders and Board Direc<strong>to</strong>rs.<br />
Transactions and balances between Group companies are not disclosed, which were eliminated on consolidation.<br />
Those entities which have a qualifi ed shareholding in excess of 20% in <strong>the</strong> group are:<br />
- <strong>Efacec</strong> Sistemas de Gestão, S.A 49,2%<br />
- Grupo José de Mello 25,4%<br />
- Grupo Têxtil Manuel Gonçalves 25,4%