Notes to the Financial Statements - Efacec

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EFACEC Capital, SGPS, S.A. and Affilate Companies Consolidated Profit and Loss Account by Nature for the years ended 31 December 2007 and 2006 5 Notes 2007 2006 2007 Consolidated and Individual Financial Statments Amounts in Euro Sales and Services Rendered 3 440.323.101 370.350.695 Cost of Sales and Materials Consumed -204.802.346 -156.285.976 Change in Stocks 11.771.333 4.303.260 Third Party Supplies and Services 20 -135.012.292 -108.592.837 Staff Costs -79.233.191 -79.423.070 Depreciation -7.987.343 -8.291.713 Provisions 9, 10, 17 -1.024.592 -1.460.122 Other Operational Costs -2.061.532 -3.412.489 Other Operational Income 3.466.397 4.246.912 Operating Profi t 25.439.535 21.434.660 Net Financial Costs 21 -4.865.583 -2.982.722 Losses/Gains in associated companies 6 1.097.969 3.399.502 Losses/Gains in other companies 7 13.213 -424.760 Income tax - Deferred -499.589 -1.331.146 Income tax - Current -3.437.482 -2.736.892 Minority Interests - share of profi ts 19 -346.878 -283.011 Consolidated Net Profi t 23 17.401.185 17.075.631 The notes to the accounts are an integral part of these consolidated balance sheets Responsible for Consolidation Conselho de Administração
EFACEC Capital, SGPS, S.A. and Affiliate Companies Consolidated statement of changes to Shareholders’ Funds as at 31 December 2007 6 Notes Share Capital Own Shares Issue Premiums Balance as at 1 January 2006 Application of Profi t/Loss 41.641.416 0 0 Dividend distributions 24 Cover of cash fl ows, net of taxes 8, 16 Adjustments in Associate companies 6 Exchange rate differences on foreign shareholdings 31 Deferred taxes 16 Disposal of subsidiaries 19 Acquisition of Minority Shareholdings Transfers 19 Regularisations of Fixed Assets (prior to 2001) Others Gains / (Losses) recognised in Shareholders’ Funds Net profi t for the period 4 Total gains recognised in 2006 0 0 0 Balance as at 31 December 2006 41.641.416 0 0 Balance as at 1 January 2007 Application of Profi t/Loss 41.641.416 0 0 Dividend distributions 24 Anticipated dividend distributions 24 Cover of cash fl ows net of taxes 8, 16 Adjustment Associate companies Reversal of Revaluation Reserve 6 Exchange rate differences on foreign shareholdings 31 Acquisition of Subsidiaries Other Gains / (Losses) recognised in Shareholders’ Funds Net profi t for the period 19, 31 Total gains recognised in 2007 0 0 0 Balance as at 31December 2007 41.641.416 0 0 Responsible for consolidation
Page 2 and 3: 1 2 Index Consolidated Financial St
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 34 and 35: 27.1 Transactions that took place i
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
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6. Customers and Accrued Income 200
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On 30 November 2006, a second Comme
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Deferred tax booked in shareholders
Page 60 and 61:
17. Profit per share Basic The basi
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21.4 Loans to related parties 2007
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To the Shareholders, Report and Opi
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Notes to the Financial Statements - Efacec

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