CONSOLIDATED FINANCIAL STATEMENTS
17. LOANS
On December 31st 2016 and 2015, current and non-current loans were broken down as fol-
lows:
Non-current
Dec. 2016
Dec. 2015
Bank loans
36,240,663
16,572,686
Commercial paper programmes
90,500,000
8,250,000
Financial leasing
3,717,050
487,088
130,457,712
25,309,774
Current
Dec. 2016
Dec. 2015
Bank overdrafts
1,805,643
45,875
Bank loans
25,456,275
6,677,673
Commercial paper programmes
7,250,000
11,250,000
Derivative financial instrument (1)
-
-
Financial Leasing
1,822,031
151,981
36,333,949
18,125,529
Total loans
166,791,662
43,435,303
Average interest rate
3.5%
4.3%
There are no significant differences between the balance sheet amounts and fair value of
current and non-current loans.
The maturities of non-current bank loans are broken down as follows:
Dec. 2016
Dec. 2015
From 1 to 2 years
32,323,409
12,277,387
From 2 to 5 years
94,287,504
12,427,096
> 5 years
129,749
118,203
126,740,662
24,822,686
Regardless of its ending stated period, for the subscribed commercial paper programmes the
Group considers the full repayment on its maturity date (the renewal date).
Using the functional currency in which they were subscribed, total loans on December 31st
2016 and 2015 were as follows:
Dec. 2016
Dec. 2015
EUR
142,862,965
29,089,215
USD
1,500,000
2,000,000
AOA
2,931,708,333
1,747,708,332
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