Annual Report and Consolidated Accounts 2015
(iv) reduction in third-party debt, excluding the amount receivable
from Ascendi that was reclassified from assets to credit (about -1
million euros);
(v) increase of inventories (+2million euros) due to the need for more
stock in Angola;
(vi) increase in cash equivalents and financial investments (about
+8 million).
Consolidated liabilities amounted to 106million euros at 31 December
2015, 13 million euros more than at end 2014.
At 31 December 2014, shareholders’ equity stood at 135million euros,
up 9million euros compared to end 2014. Dividends of nearly 1.0mil-
lion euros were distributed during the year. The currency translation
of the contribution of Angolan subsidiaries generates a variation of
reserves at around 920 thousand euros.
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