Annual Report and Consolidated Accounts 2015
Year 2015
Kwanzas Equivalent
EUR
USD Equivalent
EUR
Financial Assets
Cash and Bank deposits
203.488.292
1.376.395
6.754
6.212
Others
1.086.467.739
7.348.868
400
368
1.289.956.031
8.725.263
7.154
6.580
Financial Liabilites
Loans
1.747.708.332
11.821.499 2.000.000 1.839.646
Suppliers
431.519.912
2.918.801
2.019.561
1.857.638
Others
33.405.550
225.955
109.006
100.266
2.212.633.793
14.966.255
4.128.567
3.797.550
Year 2014
Kwanzas Equivalent
EUR
USD Equivalent
EUR
Financial Assets
Cash and Bank deposits
102.624.258
820.994
156.443
129.291
Others
60.063.999
480.511
90.000
74.280
162.688.257
1.301.505
246.443
203.571
Financial Liabilites
Loans
610.208.343
4.881.603
3.125.000 2.582.644
Suppliers
138.567.748
1.108.541
1.030.828
851.924
Others
51.066.768
408.534
65.341
54.001
799.842.859
6.398.678
4.221.169
3.488.569
Additionally in Angolan subsidiaries we have
debts to suppliers in EUR that, after conversion,
generate exchange differences in the consoli-
dated financial statements (net financing costs),
although mostly are debts with group compa-
nies. Furthermore, the same subsidiaries hold fi-
nancial assets indexed to USD, a value equivalent
to about 80% of liabilities in foreign currency.
Based on simulations performed on December
31, 2015, a decrease from 10% to 15% in AOA,
concerning EUR and USD currency, keep-
ing everything else constant, would have a
negative impact of 189 thousand euros and
271 thousand euros, respectively, on the con-
solidated financial statements (net financing
cost) of the group.
A similar simulation of exchange rate deprecia-
tion applied to the net investment, would have
a negative impact on the equity of the Group of
232 and 333 thousand euros, respectively.
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