ANNUAL REPORT 2016
Even with reduced use of the Group has contracted a significant amount of short-term
lines. On December 31, 2016, the use of short term liquidity cash flow support was less
than 14%. Investments in term deposits and other application of 37.5 million euros,
match 22% of liabilities paid.
The following table shows the Group financial liabilities (relevant items), considering
contractual cash-flows:
to December
2017
from December
2017 to 2028
Bank loans and overdrafts
36,333,949
130,457,712
Other non-current liabilities
-
208,040
Accounts payable to suppliers and accrued costs
59,919,162
-
Other creditors
10,933,132
-
Accrued costs
4,691,240
8,060,785
Total
111,877,484
138,726,537
d) Capital risk
The company aims to maintain an equity level suitable to the characteristics of its main bu-
siness (cash sales and credit from suppliers) and to ensure continuity and expansion. The ca-
pital structure balance is monitored based on the gearing ratio (defined as: net remunerated
debt / net remunerated debt + equity) in order to place the ratio within a 35%-70% interval.
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