IBERSOL | Annual Report 2020

ANNUAL REPORT 2020 FINANCIAL RESULTS Financial Expenses and Losses and Financial Income and gains Financial results totalled 19.6 million Euros, which translates into a drop of 1.1 million euros when compared to the 2019 financial year. Financial expenses and losses totalled 21.4 million Euros, which repre- sents a reduction of 1.3million euros compared to 2019. A part of these expenses and losses, corresponds to interest with leases of 16.8 million Euros (17.5 million Euros in 2019). Net interest supported and commissions related to financing reached a total of 3.8 million Euros, which equals an average debt cost of 1.9%. The descending trajectory of the average financing cost is due to the evolu- tion of interest rates in Portugal. 2020 % 2019 % var. Financial Results 19,6 6,8% 20,7 4,3% -5,1% Financial expenses and losses 21,4 7,4% 22,7 4,7% -5,7% Financial income and gains 1,7 0,6% 2,0 0,4% -11,4% (Millions of Euro) 35