IBERSOL Annual Report 2018

ANNUAL REPORT 2018 6 Introduction 12 Key Indicators 18 Message from the Chairman of the Board of Directors 22 The year of 2018 24 Key Events 28 Economic Context 36 The Ibersol Group 38 Business structure 40 Strategic Profile of the Group 49 Governing Bodies 50 Financial Year Activity 52 Restaurants 66 Counters 84 Travel, Concessions and Catering 96 Consolidated Financial Analysis 110 Outlook 116 Individual Net Income and Distribution of Results Proposal 118 Subsequent Events 124 Acknowledgments 128 Annexes to the Management Report 204 Consolidated Financial Statements INDEX 5