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(i) All amounts which comprise the purchase
price are valued at fair value, with the option
of measuring, transaction by transaction, the
“non-controlled interests” by the proportion of
the value of net assets of the acquired entity or
the fair value of assets and liabilities acquired.
(ii) All costs associated with acquisition are re-
corded as expenses.
Also has been applied since 1 January 2010 the re-
vised IAS 27, which requires that all transactions with
the “non- controlling interest” are recorded in equity,
when there is no change in control of the entity, there
is no place to record goodwill or gains or losses. When
there is a loss of control exercised over the entity, any
remaining interest on the principal is remeasured at
fair value, and a gain or loss is recognized in the results
of the exercise.
Balances and gains arising from transactions between
group companies are eliminated. Losses not realised are
alsoeliminated, exceptwhen the transaction reveals that
a transferred asset is subject to impairment. The subsidi-
aries’ accounting policies are altered whenever neces-
sary to ensure consistence with the group’s policies.
(b) Jointly controlled companies
The financial statements of jointly controlled com-
panies were included in these consolidated financial
statements by the equity method, under the adop-
tion of IFRS 11 on 01 January 2014, as of the date on
which the joint control is acquired. According to this
method, these companies’ assets, liabilities, income
and costs were included in the annexed consolidated
financial statements in one line in the consolidated
statement of financial position and in one line in the
consolidated statements of comprehensive income.
Transactions, balances and dividends paid among
group companies and jointly controlled companies
are not eliminated in the proportion of the control
assigned to the group. The excess acquisition cost
compared with the fair value of the identifiable as-
sets and liabilities on the acquisition date of a jointly
controlled company is recognised as a financial in-
vestment.
Jointly controlled companies are listed in Note 5.
2.3 REPORT PER SEGMENT
An operating segment is a component of an entity
that engages in business activities from which it
may earn revenues and incur expenses (including
revenues and expenses relating to transactions with
other components of the same entity) whose operat-
ing results are reviewed regularly by the entity’s chief
operating decision maker to make decisions about
resources to be allocated to the segment and assess
its performance and for which separate financial in-
formation is available.
The group’s head office – which also hosts the largest
operating company, is in Portugal. Its business activity
is in the restaurant segment.
The Group operates in three main business segments:
- Restaurants, which includes the units with table ser-
vice available offer and home delivery;
- Counters, with sales over the counter;
- Concessions and catering, which includes all other
businesses, including the catering activity and the
units located in concession areas.
