Consolidated Financial Statements
ANNEX TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED ON 31 DECEMBER 2016
(Values in euros)
1. INTRODUCTION
IBERSOL, SGPS, SA (“Company” or “Ibersol”) has its head office at Praça do Bom Sucesso,
Edifício Península n.º 105 a 159 – 9º, 4150-146 Porto, Portugal. Ibersol’s subsidiaries (jointly
called the Group), operate a network of 383 units in the restaurant segment through the
brands Pizza Hut, Pasta Caffé, Pans & Company, Ribs, FrescCo, Santamaría, KFC, Burger King,
Ò Kilo, Roulotte, Quiosques, Pizza Móvil, MiiT, Sol, Sugestões e Opções, Silva Carvalho Catering
e Palace Catering, coffee counters and other concessions. The Group has 504 units which
operates and 163 units under a franchise contract. Of this universe, 340 are headquartered
in Spain, of which 188 are own establishments and 152 are franchised establishments, and
10 in Angola.
As a result of the purchase of the Eat Out Group (note 5.2.1) these financial statements at
December 31st 2016 and 2015 are not comparable.
Ibersol is a public limited company listed on the Euronext of Lisbon.
Ibersol SGPS parent company is ATPS - SGPS, S.A.
2. MAIN ACCOUNTING POLICIES
The main accounting policies applied in preparing these consolidated financial statements are
described below.
2.1. PRESENTATION BASIS
These consolidated financial statements were prepared according to the International Finan-
cial Reporting Standards (IFRS), as applied in the European Union and in force on 01 January
2016.
The consolidated financial statements have been prepared in accordance with the historical
cost principle, changed to fair value in the case of derivative financial instruments.
The accounting policies applied on December 31st 2016 are identical to those applied for pre-
paring the financial statements of December 31st 2015, except for the exchange currency dif-
ferences included in other income / other operating costs and excluded from net financing cost.
The preparation of the financial statements requires estimates and management judgments,
as disclosed in Note 4.
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