IBERSOL Annual Report 2018

ANNUAL REPORT 2018 Profit and loss account Corsfood dec/2018 Dehesa dec/2017 Operating income 2.391.610 3.828.855 Operating costs -2.080.083 -2.758.062 Net financing cost -4.357 -11.715 Pre-tax income 307.170 1.059.078 Income tax -76.907 -264.709 Net profit (1) 230.263 794.369 (1) reconciliation of equity and net profit of the interest that do not control Cortsfood and Dehesa, is presented as follows: Corsfood dec/2018 Dehesa dec/2017 Equity 787.121 1.562.718 50% 50% 393.561 781.359 Net profit 230.263 794.369 50% 50% 115.132 397.185 17. LOANS On 31 December 2018 and 2017, current and non-current loans were broken down as follows: Non-current dec/2018 dec/2017 Bank loans 25.061.268 33.633.490 Commercial paper programmes 53.000.000 71.750.000 Financial leasing 1.121.056 2.304.269 79.182.324 107.687.759 Current dec/2018 dec/2017 Bank overdrafts 5.882.564 20.344 Bank loans 16.420.440 7.593.061 Commercial paper programmes 29.600.000 24.250.000 Financial Leasing 1.058.444 1.463.577 52.961.448 33.326.982 Total loans 132.143.772 141.014.741 Average interest rate 2,5% 2,8% 273