CONSOLIDATED FINANCIAL STATEMENTS
In December 31st, 2016 and 2015 currency exchange risk was as follows:
Year 2016
Kwanzas Equivalent
EUR
USD Equivalent
EUR
Financial Assets
Cash and Bank deposits
1.301.850.100
7.057.329
6.128
5.705
Treasury bonds
3.224.560.292
17.480.341
-
-
Others
70.347.511
381.354
989
920
4.596.757.903 24.919.025
7.117
6.625
Financial Liabilites
Loans
2.931.708.332
15.892.791
1.500.000
1.396.422
Suppliers
206.301.398
1.118.360
3.568.393
3.321.990
Others
5.054.977
27.403
106.613
99.251
3.143.064.707 17.038.554
5.175.006
4.817.663
Year 2015
Kwanzas Equivalent
EUR
USD Equivalent
EUR
Financial Assets
Cash and Bank deposits
203.488.292
1.376.395
6.754
6.212
Treasury bonds
1.049.502.607
7.098.836
-
-
Others
36.965.132
250.032
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
Additionally in Angolan subsidiaries we have debts to suppliers in EUR that, after conversion,
generate exchange differences in the consolidated financial statements (net financing costs),
although mostly are debts with Group companies. Furthermore, the same subsidiaries hold
financial assets indexed to USD, a value equivalent to about 96% of liabilities in foreign cur-
rency.
Based on simulations performed on December 31, 2015, a decrease from 10% to 15% in AOA,
concerning EUR and USD currency, keeping everything else constant, would have a negative
impact of 79 thousand euros and 119 thousand euros, respectively, on the consolidated finan-
cial statements (net financing cost) of the Group.
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