ANNUAL REPORT 2016
(i) Integration of Eat Out Group’s liabilities amounting to 59 million euros;
(ii) Financing increase, without Eat Out Group, of 94 million euros.
At December 31st 2016, shareholders’ Equity stood at 152 million euros, up
17 million euros compared to end 2015. Dividends of nearly 2 million euros
were distributed during the year. The currency translation of the contribution
of Angolan subsidiaries generates a negative variation of reserves at around
1.1 million euros.
CAPEX
CAPEX totalled 31 million euros in 2016, corresponding to investment in:
- expansion: 20 new restaurants opened (22 million euros);
- remodelling: 22 units in Portugal and Spain (6 million euros);
- various current expenses and extension of Burger King franchise agreement
terms, totalling 3 million euros.
Divestment occurred due to the closing of 15 units in Portugal.
Cash flow generated during the financial year was 40,1 million euros, an
amount nearly enough to ensure financial coverage of CAPEX.
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