Notes to the Financial Statements - Efacec

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6. Customers and Accrued Income 2007 2006 Customers 22.224 0 Related parties (Note 21.3) 239.371 0 261.594 0 7. Other Debtors and Prepayments 2007 2006 Other debtors 665.565 105.575 Impairment Loss - Other debtors -249.399 0 416.166 105.575 Shareholders - Other Debtors (Note 21.3) Loans and other operations - Related parties: 313.195 135.073 Associates and Investments - Other Operations (note 21.4) 194.140 322.450 Group companies - Other Operations (Note 21.4) 3.566.024 4.205.618 Group and associate companies (Note 21.4) 17.479.207 3.085.370 Impairment Loss - Related parties -156.271 -156.271 21.396.294 7.592.240 Other debtors - Financial Assets IFRS 7 21.812.460 7.697.815 Other Debtors 28.257 0 Prepayments 12.342 217.444 State and other entities 1.649.928 3.184.111 Other Debtors - not covevred by IFRS7 1.690.527 3.401.555 Total Other Debtors 23.502.987 11.099.370 Non current: Other Debtors 27.000 27.000 Current: Other Debtors 23.475.987 11.072.370 All third party non current debts are due within fi ve years of the balance sheet date. 8. Cash and cash equivalents 9. Share Capital 55 2007 2006 Cash 0 6.112 Bank balances 113.267 25.688 113.267 31.800 The authorised capital is made up 41,641,416 ordinary registered shares each having a par value of 1 Euro, and is entirely paid up. The company does not hold any own shares. 2007 Consolidated and Individual Financial Statments
10. Suppliers, creditors and accruals 56 2007 2006 Suppliers - Current account 10.331 75.198 Fixed asset suppliers - Current account 412.611 -12.309 Suppliers 422.942 62.889 2007 2006 Other Creditors Other Creditors - Related Entities 53.545 59.017 Group companies - Other Creditors (note 21.3) 0 133.923 Shareholders - Other Creditors (note 21.3) 101.625 11.629 Group companies - Loans obtained (note 21.4) 19.420.472 24.694.311 Group companies - Other operations (note 21.4) 3.025.134 448.898 Associate companies - Other operations (note 21.4) 3.316 3.316 Other Creditors - Related parties 22.550.546 25.292.077 Other Creditors - IFRS 7 22.604.091 25.351.094 Accruals 545.616 580.549 Subscription Creditors 0 122.325 State and other public entities 281.294 2.893.561 Other Creditors - not covered by IFRS 7 826.910 3.596.434 Creditors and Accruals 23.431.001 28.947.528 The current amount due to Suppliers, whether for services or fi xed assets, is almost entirely due within 90 days, which refl ects the normal conditions negotiated with the company’s suppliers. 11. Borrowings As at 31December 2007 and 31 December 2006, borrowings and bank overdrafts, their average annual interest rates and other conditions were as follows: 2007 2006 Non current Bank borrowings 22.500.000 27.000.000 Commercial Paper 26.000.000 26.000.000 Current 48.500.000 53.000.000 Bank borrowings 4.500.000 0 Commercial Paper 7.500.000 7.000.000 Current bank accounts 6.156.341 222.342 18.156.341 7.222.342 Total borrowings 66.656.341 60.222.342 Bank finance At the end of 2007, the Group had a loan of 27,000,000 Euro from the European Investment Bank, contracted on 16 November 2004. Interest is payable every six months at the Euribor rate plus a maximum spread of 0.13%. The fi rst capital repayment will be made on 15 June 2008 (4,500,000 Euro is already registered in current liabilities), with the remaining payments to be made each year up to 15 June 2013. Commercial Paper On 8 July 2005, a Commercial Paper programme was agreed with a bank syndicate, involving fi ve banks, of 26 million Euro. The programme has a contract period of 5 years with a requirement in excess of one year. The companies included in the Programme, Efacec Capital SGPS and its subsidiary Efacec Energia, can issue Commercial Paper by Direct Placement or by Auction. As far as mediation fee rates are concerned, the issues have a maximum rate equal to the Euribor rate for the period in question, plus 0.35%. The current issues fall due on 11 July 2008.
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 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
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: ��
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Notes to the Financial Statements - Efacec

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