Notes to the Financial Statements - Efacec

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27.1 Transactions that took place in 2007 and 2006 31.12.2007 31.12.2006 Financial transactions Associate companies Shareholders’ Loans 71.871 82.088 Loans granted 35.871 91.206 Loans obtained Shareholders 0 0 Loans granted -1.070.000 1.070.000 Loans obtained Other entities 7.100.000 0 Loans granted -108.073 -41.360 Loans obtained 0 0 Current transactions Associate companies -8.170.330 1.201.934 Operational income and gains 2.127.887 1.424.088 Operational costs and losses 383 95.456 Financial income and gains 899.662 244.369 Financial costs and losses 0 0 Shareholders Operational income and gains 227.574 128.395 Operational costs and losses 10.393.092 671.733 Financial income and gains 0 0 Financial costs and losses 52.079 0 35 -7.190.431 1.029.663 The commercial conditions under which these transactions and services took place were under the same conditions as independent third parties. Financial income refers mainly to dividends received from the associate company S2M – Sociedade de Manutenção de Metropolitanos, SA (818,686 Euro in 2007 and 180,000 Euro in 2006). Efacec Sistemas de Gestão, in addition to being the main shareholder, also includes the Efacec Group shared services unit, which means that it has the role of a service provider to all Group companies. In this capacity, the Group had operational costs totalling 10,392,994 Euro. The value of borrowings made and received also refers to Efacec Sistemas de Gestão, S.A. 2007 Consolidated and Individual Financial Statments
27.2 Final balances resulting from commercial balances 36 31.12.2007 31.12.2006 Debts owed from related parties Associate companies Loans Made 901.765 978.341 Customers and Income Accruals (Note 9) 1.008.932 4.872.430 Others Debtors and Deferred Costs (Note 10) Shareholders 633.265 388.843 Loans Made 0 1.070.000 Customers and Income Accruals (Note 9) 44.379 0 Others Debtors and Deferred Costs (Note 10) Other entities 545.372 143.453 Loans Made 0 108.073 Others Debtors and Deferred Costs (Note 10) 0 394.258 Debts owed to related parties Associate companies 3.133.712 7.955.399 Loans received 0 0 Suppliers (Note 14) 383 125.247 Other Creditors (Note 14) 44.536 0 Shareholders Loans received 7.100.000 0 Suppliers (Note 14) 2.100.998 941.687 Other Creditors (Note 14) 546.161 482.669 9.792.078 1.549.603 The change in the balance of Customers – Associates compared to 31.12.2006 is due mainly to the integration of Efacec Moçambique in 2007 (3,273,030 in 2006). Debts owing to shareholders are mainly related to Efacec Sistemas de Gestão, both in the line Suppliers, and in Other Creditors, and are connected with contracted shared services with that company. The Group had a loan of 7,100,000 Euro as at 31 December 2007 from its main shareholder Efacec Sistemas de Gestão, S.A. 27.3 Detail by entity of balances with related parties The sums in Group assets and liabilities, which relate to related parties, can be broken down into the following entities: 31.12.2007 31.12.2006 Associated companies: Águas da Figueira - Loans 901.765 865.893 Águas da Figueira - Current 775.559 565.179 O&M Serviços - Current 458.636 796.578 S2M - Soc. Manutenção Metropolitanos - Current 225.261 223.030 Liaoyang Efacec Electrical Equipment - Current 4.807.949 4.807.519 Efacec Moçambique - Loans 0 112.448 Efacec Moçambique - Current 0 3.400.025 Other -1.379 12.444 7.167.791 10.783.116 Impairment -4.668.748 -4.668.748 Shareholders 2.499.043 6.114.368 Efacec Sistemas de Gestão - Loans -7.100.000 1.070.000 Efacec Sistemas de Gestão - Current -2.068.796 -798.234 Other 11.387 0 Other entities -9.157.408 271.766 Efafl u - Bombas e Ventiladores - Loans 0 108.073 Other 0 -88.411 The impairment booked relates to the debt owing from Liaoyang Efacec Electrical Equipment.. 0 19.662
Page 2 and 3: 1 2 Index Consolidated Financial St
Page 4 and 5: EFACEC Capital, SGPS, S.A. and Affi
Page 6 and 7: Attributable to shareholders Reserv
Page 8 and 9: A. General Information Notes to the
Page 10 and 11: 1.3 Reporting by segments A busines
Page 12 and 13: 1.7 Asset impairment Assets that do
Page 14 and 15: a) Sales The income recognised, in
Page 16 and 17: 2.3 Estimates of fair value The fai
Page 18 and 19: 3.2 Information by geographical seg
Page 20 and 21: 5.2 Goodwill The breakdown of goodw
Page 22 and 23: 8. Derivatives In relation to fi na
Page 24 and 25: 11. Stocks 31.12.2007 31.12.2006 Ra
Page 26 and 27: Commercial Paper On 8 July 2005, a
Page 28 and 29: Denomination of Loans The accountin
Page 30 and 31: 17. Provisions for risks and charge
Page 32 and 33: 21. Net financial charges 22. Incom
Page 36 and 37: 27.4 Commitments and contingencies
Page 38 and 39: Foreign companies Company Name Head
Page 40 and 41: 41 2007 Consolidated and Individual
Page 42 and 43: EFACEC Capital, SGPS, S.A. Profit a
Page 44 and 45: Reserves Financial Instruments Merg
Page 46 and 47: A. General Information Notes to the
Page 48 and 49: 1.5 Investments Investments in grou
Page 50 and 51: 2.2 Accounting for financial instru
Page 52 and 53: 4. Investments in group and associa
Page 54 and 55: 6. Customers and Accrued Income 200
Page 56 and 57: On 30 November 2006, a second Comme
Page 58 and 59: Deferred tax booked in shareholders
Page 60 and 61: 17. Profit per share Basic The basi
Page 62 and 63: 21.4 Loans to related parties 2007
Page 64 and 65: To the Shareholders, Report and Opi
Page 66: ��

Notes to the Financial Statements - Efacec

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