ANNUAL REPORT 2016
At the end of the year the Group had 22,3 million euros of unissued commercial paper pro-
grammes and available but not disposable credit lines.
Long-term loans contracted under the acquisition of Eat Out Group include clauses with the
following financial covenants:
Financial Covenants
SPAIN
(Company)
PORTUGAL
(Consolidated)
Divida/EBITDA
2,5x to 1,5x
3,5x or 4,5x
from 2017 to 2021
with reductions of 0.25 per year
EBITDA/Financial Cost
5x
-
Equity/Assets
-
30%
The liabilities from financial leasing may be broken down as follows:
Dec. 2016
Dec. 2015
Outstanding capital:
Up to 1 year
1,822,031
151,981
Over 1 year and until 5 years
3,717,050
487,088
5,539,081
639,069
The future (contractual) Cash Flows concerning the above stated financial liabilities on De-
cember 31st 2016 are broken down as follows:
FC 2017
FC 2018
FC 2019
FC 2020
FC 2021 FC 2022/28
Bank loans
25,456,275 8,573,409 8,606,109 5,364,934 5,400,988 8,295,222
Commercial paper
programmes
7,250,000 23,750,000 18,750,000 15,000,000 15,000,000 18,000,000
Financial Leasing
1,822,031 1,388,010 1,359,166
714,151
255,724
-
Interest
4,691,240 3,146,246 2,232,301 1,425,487
875,253
381,498
257
