Notes to the consolidated financial statements - Efacec

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Attributable to shareholders Revaluation reserves Reserves and retained earnings Profit/Loss of the Financial Year 7 Minority Interests Total Shareholders’ Funds 21,358,600 -1,516,572 17,075,631 2,626,381 82,625,357 9,538,535 -9,538,535 0 -7,537,096 -163,675 -7,700,771 -12,216,000 -12,216,000 71,515 -195,593 71,515 -49,611 -49,611 -226,675 -36,267 -262,942 169,069 169,069 -14,810 -674,907 17,401,185 -5,450 -695,168 -64,421 8,708,467 -29,291,631 -36,324 -20,879,502 17,401,185 346,878 17,748,063 -64,421 8,708,467 -11,890,446 310,555 -3,131,438 21,294,179 7,191,896 5,185,184 2,936,936 79,493,919 21,294,179 7,191,896 5,185,184 2,936,936 79,493,919 -8,035,815 8,035,815 0 -13,221,000 -225,642 -13,446,642 -6,034,000 -6,034,000 -4,977,062 95,287 95,287 383,683 383,683 -188,419 -188,419 -749,948 -100,118 -850,065 25,556 25,556 15 -66,542 161,985 95,458 195,279 -8,757,018 -11,219,185 -138,219 -24,896,204 24,136,981 587,641 24,724,621 195,279 -8,757,018 12,917,796 449,422 -171,582 21,489,458 -1,565,122 18,102,980 3,386,358 79,322,336 Board of Directors 2008 Consolidated and Individual Financial Statments
EFACEC Capital, S.G.P.S., S.A. and Subsidiary Companies Consolidated cash flow statements for the periods ended 31 December 2008 and 2007 Operational activities The Accountant Board of Directors 8 Amounts in Euro Notes 2008 2007 Received from customers 719,024,496 495,451,141 Paid to suppliers 496,313,665 322,491,466 Paid to staff 92,547,808 76,924,353 Flow generated by operations 130,163,023 96,035,322 Payment/receipt of corporation tax (4,229,764) (3,171,780) Other revenue/payments in respect of operating activity (67,330,516) (81,615,839) Investment activities Revenues provided by: Net infl ow from operational activities [1] 58,602,743 11,247,703 Financial investments 6,7 0 23,191 Investment subsidies 17,283 15,346 Interest and similar income 2,868,141 252,527 Dividends 6 724,453 818,549 Payments pertaining to: 3,609,878 1,109,613 Financial investments 6,7,12 19,107,261 12,089,839 Tangible assets 4 35,312,756 8,918,834 Intangible assets 5 0 0 54,420,017 21,008,673 Net outfl ow from investment [2] (50,810,140) (19,899,060) Financing activities Revenues provided by: Non-current loans obtained 15 14,378,757 0 Current loans obtained/granted 15 290,400,608 53,940,765 Capital increase, supplementary services and issue premiums 28,998 0 Subsidies and donations 0 0 Payments pertaining to: 304,808,363 53,940,765 Non-current loans obtained 15 359,259 521,406 Current loans obtained/granted 15 174,205,515 16,679,772 Amortisation of leasing contracts 4 86,277 16,995 Interest and similar income 21 10,621,393 4,135,429 Dividends 24 19,480,642 19,916,824 204,753,086 41,270,425 Flows generated by fi nancing activities [3] 100,055,277 12,670,340 Change in cash and cash equivalents [A]-[B]+[C]-[D]+[E]=[1]+[2]+[3] 107,847,881 4,018,983 Impact of exchange rate differences [A] 9,181,775 299,088 Impact of change in consolidation perimeter [B] 120,451 356,499 Cash and cash equivalents in discontinued units [C] 0 0 Cash and cash equivalents at the beginning of the period [D] 11,739,854 7,663,459 Cash and cash equivalents at the end of the period [E] 110,526,411 11,739,854
Page 2: 1 2 Index Consolidated Financial St
Page 5 and 6: Non-current assets EFACEC Capital,
Page 7: 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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