Annual Report and Consolidated Accounts 2015
The Group operates in three main business seg-
ments:
– Restaurants, which includes the units with ta-
ble service available offer and home delivery;
– Counters, with sales over the counter;
– Concessions and catering, which includes all
other businesses, including the catering activ-
ity and the units located in concession areas.
The segments’ assets include, in particular, tan-
gible fixed assets, intangible assets, stocks, ac-
counts receivable and cash and cash equivalents.
This category excludes deferred taxes, financial
investments and derivatives held for negotiation
or hedge.
The segments’ liabilities are operating liabilities.
Taxes, loans and related hedging derivatives are
excluded.
Investments include additions to tangible fixed
assets (Note 8) and intangible assets (Note 9).
Investments are distributed according to this
business distribution.
2.4 CURRENCY EXCHANGE RATE
(a) Working currency and financial statement currency
The Financial Statements of each group entity
are prepared using the currency of the region
in which the entity operates (“the working cur-
rency”). The consolidated financial statements
are presented in euros since this is the working
currency which the group uses in the financial
statements.
(b) Transactions and balances
Transactions in currencies other than the euro
are converted into the working currency us-
ing the exchange rates on the transaction date.
Exchange rate gains or losses from liquidating
transactions and from the conversion rate on
the consolidated statement of financial position
date of monetary assets and liabilities in a cur-
rency other than the euro are recognised in the
Profit and Loss Account, except when they are
qualified as cash flow hedging or as net invest-
ment hedging, in which case they are recorded in
equity.
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