CONSOLIDATED FINANCIAL ANALYSIS
FINANCIAL POSITION
Balance sheet
Consolidated assets totalled 423 million euros at December 31st 2016, an
increase of nearly 182 million euros compared to end 2015.
This net increase resulted essentially from the integration of Eat Out
Group and fixed assets:
(i) Integration of Eat Out Group with Assets of 65 million euros;
(ii) Goodwill generated in the consolidation of Eat Out Group of 71 million euros;
(iii) Investment in expansion plans, especially Burger King, Pizza Hut and
Airports (approx. +22 million euros);
(iv) Remodelling and diverse investments in Portugal and Spain (approx.
+9 million euros);
(v) Reduction of technical equipment fixed assets corresponding to amorti-
zations and impairment for the financial year (approx. -17 million euros);
(vi) Increase of investments in treasury bonds in Angola by 10 million euros
and increase of 20 million in cash equivalents.
Consolidated liabilities amounted to 271 million euros at December 31st
2016, 165 million euros more than at end 2015, wich results from the
main movements:
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