Notes to the consolidated financial statements - Efacec

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EFACEC Capital, S.G.P.S., S.A. and Subsidiary Companies Consolidated profit and loss account by nature for the years ended 31 December 2008 and 2007 5 Amounts in Euro Notes 2008 2007 Sales and Services Rendered 3 606,216,504 440,323,101 Cost of Sales and Materials Consumed -291,961,804 -204,802,346 Change in production 3,024,848 11,771,333 Third Party Supplies and Services 20 -165,143,963 -135,012,292 Staff Costs -96,572,275 -79,233,191 Depreciation 4 -8,372,107 -7,987,343 Provisions 9, 10, 17 -2,675,685 -1,024,592 Other Operational Costs -3,112,377 -2,061,532 Other operating income 3,216,886 3,466,397 Operating Profi ts 44,620,027 25,439,535 Financial Costs (net) 21 -14,363,394 -4,865,583 Losses/Gains in associated companies 6 637,908 1,097,969 Losses/Gains in other companies 7 -1.965 13.213 Income tax - deferred 22 4,665,634 -499,589 Income tax - current 22 -10,833,589 -3,437,482 Minority Interests - share of profi ts 19 -587.641 -346.878 Consolidated net profi t 23 24,136,981 17,401,185 The Notes to the Accounts are an integral part of these consolidated balance sheets The Accountant Board of Directors 2008 Consolidated and Individual Financial Statments
EFACEC Capital, S.G.P.S., S.A. and Subsidiary Companies Consolidated statement of changes to shareholders’ funds as at 31 December 2008 6 Notes Share Capital Reserves for financial instruments Balance as at 01.01.2007 Application of profi t/loss 41,641,416 1,439,901 Dividend distribution 24 Anticipated dividend distribution 24 Cash fl ows hedging net of taxes 8, 16 -195,593 Adjustments in associated companies Reversal of revaluation reserve Exchange rate differences in foreign shareholdings 6 Acquisition/Constitution of Subsidiaries Other 31 Gains / (Losses) recognised in shareholders’ funds Net profi t for the fi nancial year 0 -195,593 Total gains recognised in 2007 0 -195,593 Balance as at 31.12.2007 41,641,416 1,244,308 Balance as at 01.01.2008 Application of profi t/loss 41,641,416 1,244,308 Dividend distribution 24 Anticipated dividend distribution 24 Cash fl ows hedging net of taxes 8, 16 -4,977,062 Adjustments in associated companies 6 Revaluation of land Reversal of revaluation reserve Exchange rate differences in foreign shareholdings Acquisition/constitution of subsidiaries Other 31 Gains / (Losses) recognised in shareholders’ funds 0 -4,977,062 Net profi t for the fi nancial year Total gains recognised in 2008 0 -4,977,062 Balance as at 31.12.2008 41,641,416 -3,732,754 The Accountant
Page 2: 1 2 Index Consolidated Financial St
Page 5: Non-current assets EFACEC Capital,
Page 9 and 10: EFACEC Capital, S.G.P.S., S.A. and
Page 11 and 12: In view of the fact that applying t
Page 13 and 14: 1.5 Tangible Fixed Assets Land and
Page 15 and 16: 1.11 Accounts receivable from custo
Page 17 and 18: 2. Financial risk management 2.1 Fa
Page 19 and 20: C. Segment Information 3. Reporting
Page 21 and 22: D. Notes to the Balance Sheets as a
Page 23 and 24: 22 31.12.2008 31.12.2007 ATM - Assi
Page 25 and 26: 24 31.12.2008 31.12.2007 Opening ba
Page 27 and 28: 9. Customers and accrued income The
Page 29 and 30: 14. Suppliers, other creditors and
Page 31 and 32: Companies and has period of 5 years
Page 33 and 34: At variable rates 32 31.12.2008 31.
Page 35 and 36: The amount shown as a reduction in
Page 37 and 38: 24. Dividends per share The dividen
Page 39 and 40: 27.1 Transactions in 2008 and 2007
Page 41 and 42: 31.12.2008 31.12.2007 Associated co
Page 43 and 44: G. List of companies consolidated 3
Page 45 and 46: (f) This company is held by the gro
Page 47 and 48: 47 2008 Consolidated and Individual
Page 49 and 50: Efacec Capital, SGPS, S.A. Consolid
Page 51 and 52: Merger Reserve Other Reserves Retai
Page 53 and 54: A. General information Notes to the
Page 55 and 56: in the profi t and loss account of
Page 57 and 58:
1.16 Subsidies Subsidies received a
Page 59 and 60:
C. Notes on the Balance Sheets as a
Page 61 and 62:
a) The last accounts available were
Page 63 and 64:
9. Stocks The company features no s
Page 65 and 66:
The fair value of current and non-c
Page 67 and 68:
Revaluation Options Total As at 1 d
Page 69 and 70:
19. Income Tax The reconciliation o
Page 71 and 72:
2008 2007 Current transactions Grou
Page 73 and 74:
To the Shareholders, Report and Opi
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Notes to the consolidated financial statements - Efacec

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