Consolidated Financial Statements
Regarding these fluctuations, the base scenario
of each year, which is translated in the annual
budget, has been suffering adjustments that had
been reflected in the referred impairments, al-
though it seeks to adopt a realistic perspective
for the long term projection.
In 2014, the sensitivity analysis of the discount
rate is presented as follows:
Discount rate
Impairment
Additional
impairment Notes
5,85%
2.748.538
6,35%
3.126.871
6,85%
3.476.131
Impairment recorded value
7,35%
3.798.761
322.630
7,85%
4.096.980
620.849 (1)
8,35%
4.458.541
982.410
8,85%
4.876.131
1.400.000 (1)
(1) for a discounted rate in perpetuity change of 1% and 2% would result in a further loss of 620.000 euros and 1.400.000 euros respectively.
In 2014, the sensitivity analysis of the sales growth rate is presented as follows:
Sales growth in
the period
Impairment
Additional
impairment Notes
over 2% of the base
843.678
over 1% of the base
1.876.073
base: between 2% and 6%
(*)
3.476.131
impairment recorded value
less 1% of the base
5.155.898
1.679.767
less 2% of the base
6.773.503
3.297.372
* according to the location and the traffic development trend of 2014.
In 2015, the sensitivity analysis of the discount rate is presented as follows:
Discount rate
Impairment
Additional
impairment Notes
5,80%
3.791.703
6,30%
3.922.192
6,80%
4.080.721
Impairment recorded value
7,30%
4.130.080
49.359 (1)
7,80%
4.224.054
143.333 (1)
(1) for a discounted rate in perpetuity change of 0.5% and 1% would result in a further loss of 49.000 euros and 143.000 euros respectively.
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