146
CONSOLIDATED FINANCIAL STATEMENTS
ANNEX TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDING ON 31ST DECEMBER 2013
Values in euros)
The accounting policies applied on 31 December 2013
are identical to those applied for preparing the financial
statements of 31 December 2012.
2.2 CONSOLIDATION
(a) Subsidiaries
Shareholdings in companies in which the group directly
or indirectly holds more than 50% of the voting rights or
has the power to control their financial and operational
activities (definition of control used by the group) were
included in these consolidated financial statements
through the full consolidation method. Equity and net
profit of these companies assigned to third-party share-
holdings are presented separately in the “non-controlling
interests” item in the consolidated statement of financial
position and of comprehensive income. The companies
included in the financial statements are listed in Note 5.
When losses impute to non-controlling interests exceed
the non-controlling interest in a subsidiary company’s
equity, the non-controlling interest absorb that differ-
ence and any additional losses.
The purchase method is used to account the acqui-
sition of subsidiaries that occurred before 2010. The
acquisition cost corresponds to the fair value of the
delivered goods, capital issued instruments and lia-
bilities incurred or assumed on the acquisition date.
The identifiable acquired assets and the liabilities and
contingent liabilities taken into account in a corporate
concentration will initially correspond to the fair value
1. INTRODUCTION
IBERSOL, SGPS, SA (“Company” or “Ibersol”) has its head
office at Praça do Bom Sucesso, Edifício Península n.º
105 a 159 – 9º, 4150-146 Porto, Portugal. Ibersol’s sub-
sidiaries (jointly called the Group), operate a network of
394 units in the restaurant segment through the brands
Pizza Hut, Pasta Caffé, Pans & Company, Kentucky Fried
Chicken, Burguer King, O’ Kilo, Bocatta, Café Sô, Qui-
osques, Pizza Móvil, Flor d’Oliveira, Miit, Sol, Sugestões e
Opções, José Silva Carvalho, Catering and SEC Eventos e
Catering. The group has 374 units which it operates and
20 units under a franchise contract. Of this universe, 89
are headquartered in Spain and 3 in Angola, of which
73 are own establishments and 19 are franchised estab-
lishments.
Ibersol is a public limited company listed on the Euron-
ext of Lisbon.
2. MAIN ACCOUNTING POLICIES
The main accounting policies applied in preparing these
consolidated financial statements are described below.
2.1 PRESENTATION BASIS
These consolidated financial statements were pre-
pared according to the International Financial Reporting
Standards (IFRS), as applied in the European Union and
in force on 01 January 2013.
