IBERSOL | Integrated Management Report 2022

Consolidated Financial Statements 31 december 2021 Portugal Angola Spain Group Turnover 119 400 599 8 647 451 75 953 036 204 001 086 Tangible and intangible fixed assets 183 302 165 16 913 672 50 028 570 250 244 408 Right-of-use assets 76 171 530 514 414 62 185 207 138 871 151 Goodwill 7 474 768 130 714 71 427 339 79 032 821 Deferred tax assets 4 899 059 - 6 189 382 11 088 442 Investments in associates and joint ventures 2 940 318 - 2 940 318 Non-current accounts receivable 578 965 - 7 924 331 8 503 296 Debt instruments at amortised cost - 841 165 - 841 165 Total non-current assets 275 366 805 18 399 965 197 754 829 491 521 600 31 december 2022 Portugal Angola Spain Group Turnover 203 358 050 14 279 000 137 959 519 355 596 569 Tangible and intangible fixed assets 115 476 055 15 220 590 26 706 441 157 403 085 Right-of-Use Assets 47 488 843 536 784 41 902 055 89 927 683 Investment property 8 470 400 - - 8 470 400 Goodwill 6 604 503 130 714 47 656 558 54 391 775 Deferred tax assets - - 9 989 258 9 989 258 Investments in assoc. and joint ventures 3 087 921 - - 3 087 921 Non-current accounts receivable 7 501 388 - 7 226 101 14 727 489 Debt instruments at amortised cost - 2 477 133 - 2 477 133 Total non-current assets 188 629 110 18 365 221 133 480 413 340 474 744 4.3. Operating income and expenses Accounting policies Employee benefits Short-term employee benefits, such as salaries, wages and social security contri- butions, are recorded under personnel expenses. The liabilities are recorded in the period in which all the employees, including the members of the Board of Directors, acquire the respective right, irrespective of the date of payment, with the balance outstanding at the date of the statement of financial position being shown under current payables. 404