Consolidated statements of financial position as of 31st December 2013 and 2012

AMOUNTS EXPRESSED IN THOUSANDS OF EUROS – TEUROS
(TRANSLATION OF STATEMENTS OF FIANCIAL POSITION ORIGINALLY ISSUED IN PORTUGUESE - NOTE 36)

      YEAR ENDED
ASSETS NOTES '13 '12
NON-CURRENT ASSETS
     
Property, plant and equipment 8 934 827
Goodwill 9 3.774 3.774
Intangible assets 8 3.877.420 3.891.464
Investments in associates and joint ventures  10 12.155 9.382
Available-for-sale financial assets 12 e 13 156.886 131.002
Derivative financial instruments 12 e 16 - 6.853
Other financial assets 12 102.274 112.583
Trade and other receivables 12 e 14 81.588 70.451
Deferred tax assets 11 67.800 61.215
    4.302.831 4.287.552
       
CURRENT ASSETS      
Inventories 15 1.880 2.920
Trade and other receivables  12 e 14 565.923 310.738
Current income tax recoverable 11 e 12 - 14.318
Derivative financial instruments  11 e 16 - 416

Other financial assets

12 22.728 8.864
Cash and cash equivalents 12 e 17 167.987 61.246
    4.302.831 4.287.552
Total assets    
EQUITY      
SHAREHOLDERS EQUITY
     
Share capital 18 534.000 534.000
Own shares  18 (10.728) (10.728)
Reserves 19 271.634 231.753
Retained earnings   163.356 (a) 149.002
Net profit for the year   121.303  (a) 123.561 
Total equity   1.079.566  1.027.589
       
LIABILITIES      
NON CURRENT LIABILITIES
       
Borrowings  12 e 20 2.430.159  1.535.495 
Liability for retirement benefits and others  21 126.231 105.808
Derivative financial instruments  12 e 16 34.320 27.958
Provisions 22 4.690 4.801
Trade and other payables 23 370.298 360.895
Deferred tax liabilities 11 73.956 82.797
    3.039.654 2.117.755
CURRENT LIABILITIES
     
Borrowings  12 e 20 2.50.325 1.170.400
Provisions 22 1.213 2.419
Trade and other payables  23 642.973 367.081
Income tax payable 11 e 12 44.935 -
Derivative financial instruments 12 e 16 2.683 811
    942.129 1.540.711
Total liabilities
7 3.981.783 3.658.465
Total equity and liabilities
  5.061.349 4.686.054

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a) RESTATED AS REQUIRED BY IAS 19 (NOTES 3.1 AND 21)

THE ACOMPANYING NOTES FORM AN INTEGRAL PART OF THE STATEMENT OF FINANCIAL POSITION AS OF 31 DECEMBER 2013.
THE ACCOUNTANT                                                                  THE BOARD Of DIRECTORS

 

Consolidated statements of profit and loss for the years ended 31st December 2013 and 2012

AMOUNTS EXPRESSED IN THOUSANDS OF EUROS – TEUROS
(TRANSLATION OF STATEMENTS OF FIANCIAL POSITION ORIGINALLY ISSUED IN PORTUGUESE - NOTE 36)

      YEAR ENDED
  NOTES '13 '12
Sales 7 e 24 112 405
Services rendered 7 e 24 575.886 588.568
Revenue from construction of concession assets  7 e 25 187.464 200.507
Gains from associates and joint ventures 10 (361) 665
Other operating income 26 25.744 21.143
Operating income   788.845 811.287
       
Cost of goods sold   (303) (797)
Cost with construction of concession assets  25 (162.179) (172.892)
External supplies and services 27 (44.028) (57.532)
Personnel costs 28 (53.599) (a) (50.671)
Depreciation and amortizations 8 (201.242) (197.368)
Provisions 22 212 (2.636)
Impairment of trade receivables 14 5.296 (2.646)
Other expenses 29 (12.750) (12.512)
Operating costs
  (468.593) (497.053)
       
Operating results   320.252 314.234
Financial costs 30 (162.703) (145.740)
Financial income 30 12.917 2.257
Investment income - dividends 13 7.558 7.461
Financial results
  (142.228) (136.023)
Profit before income tax   178.024 178.211
       
Income tax expense 11 (56.721) (54.650)
Net profit for the year   121.303 123.561
       
ATTRIBUTABLE TO:      
Shareholders of the Company   121.303 123.561
Non-controlling interests   - -
Consolidated profit for the year   121.303 123.561
Earnings per share (expressed in euro per share) 31 0,23 0,23

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a) RESTATED AS REQUIRED BY IAS 19 (NOTES 3.1 AND 21)

THE ACOMPANYING NOTES FORM AN INTEGRAL PART OF THE STATEMENT OF FINANCIAL POSITION AS OF 31 DECEMBER 2013.
THE ACCOUNTANT                                                                  THE BOARD Of DIRECTORS

 

Consolidated statements of other comprehensive income for the years ended 31st December 2013 and 2012

AMOUNTS EXPRESSED IN THOUSANDS OF EUROS – TEUROS
(TRANSLATION OF STATEMENTS OF FIANCIAL POSITION ORIGINALLY ISSUED IN PORTUGUESE - NOTE 36)

  NOTES '13 '12
Net Profit for the year
  121.303 123.561
       
OTHER INCOME AND COST RECORDED IN EQUITY:      
Items that will not be reclassified subsequently to profit or loss:
     
Actuarial gains / (losses) - gross of tax 21 (21.987) (a) (53.469)
Tax effect on actuarial gains ( (losses) 11 8.955 15.602
       
Items that will be reclassified subsequently to profit or loss:      
Increase/(decrease) in hedging reserves - derivative financial instruments 16 12.069 (20.638)
Tax effect on hedging reserves 11 e 16 (3.445) 4.529
       
Gain/(loss) in fair value reserve - available-for-sale assets 13 25.784 10.151
Tax effect on fair value reserves 11 e 13 (805) -
          
Other comprehensive income from associates 10 223 
          
 Comprehensive income for the year   142.097  79.736 
          
 ATTRIBUTABLE TO:      
 Shareholders of the company   142.097  79.736 
 Non-controlling interests  
    142.097  79.736 

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a) RESTATED AS REQUIRED BY IAS 19 (NOTES 3.1 AND 21)

THE ACOMPANYING NOTES FORM AN INTEGRAL PART OF THE STATEMENT OF FINANCIAL POSITION AS OF 31 DECEMBER 2013.
THE ACCOUNTANT                                                                  THE BOARD Of DIRECTORS

 

Consolidated statements of changes in equity for the years ended 31st December 2013 and 2012

AMOUNTS EXPRESSED IN THOUSANDS OF EUROS – TEUROS
(TRANSLATION OF STATEMENTS OF FIANCIAL POSITION ORIGINALLY ISSUED IN PORTUGUESE - NOTE 36)

CHANGES IN THE YEAR Notes Share capital Own shares Legal reserve Fair value reserve
(Nota 13)
Hedging reserves (Nota 16) Other reserves Retained earnings Profit for the year Non-controling interests Total
At 1 de January 2012   534.000 (10.728) 79.809 (14.244) (10.503) 160.339 178.189 120.576 - 1.037.439
Net profit of the period and other comprehensive income (a)   -   79.809 10.151 (16.109) - (37.867) 123.561 - 79.736
Distribution of dividends 32 - - - - - - (89.590) - - (89.590)
Other   - - - - - 4 - - - 4
Transfer to other reserves   - - 5.628 - - 16.679 98.270 (120.576) - -
At 31 december 2012 (a)   534.000 (10.728) 85.437 (4.093) (26.612) 177.022 149.002 123.561 - 1.027.589
At 1 de January 2013   534.000 (10.728) 85.437 (4.093) (26.612) 177.022 149.002 123.561 - 1.027.589
Net profit of the period and other comprehensive income   - - - 24.979 8.624 223 (13.032) 121.303 - 142.097
Distribution of dividends 32 - - - - - - (90.120) - - (90.120)
Transfer to other reserves   - - 6.055 - - - 117.507 (123.561) - -
At 31 December 2013   534.000 (10.728) 91.492 20.886 (17.989) 177.245 163.356 121.303 - 1.079.566

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a) RESTATED AS REQUIRED BY IAS 19 (NOTES 3.1 AND 21)

THE ACOMPANYING NOTES FORM AN INTEGRAL PART OF THE STATEMENT OF FINANCIAL POSITION AS OF 31 DECEMBER 2013.
THE ACCOUNTANT                                                                  THE BOARD Of DIRECTORS

 

Consolidated statements of cash flow for the years ended 31st December 2013 and 2012

AMOUNTS EXPRESSED IN THOUSANDS OF EUROS – TEUROS
(TRANSLATION OF STATEMENTS OF FIANCIAL POSITION ORIGINALLY ISSUED IN PORTUGUESE - NOTE 36)

  NOTES '13 '12
CASH FLOW FROM OPERATING ACTIVITIES      
             
Cash receipts from customers   (a) 2.056.635 (a) 2.289.659
Cash paid to suppliers   (a) (1.391.110) (a) (1.822.096)
Cash paid to employees   (63.160) (61.510)
Income tax received / (paid)   (8.510) (13.687)
Other (payments)/receipts relating to operating activities   (87.567) (112.404)
Net flows from operating activities   506.288 279.961
       
CASH FLOW FROM INVESTING ACTIVITIES:      
Receipts related with:      
Other financial assets 3.18 207.264 -
Grants related to assets   5.051 617
Interests and other similar income   8.160 1.896
Dividends 13 7.493  5.635
             
Payments related with:      
Other financial assets 3.18 (210.000)  (117.163) 
Capital contributions in associates and joint ventures 10 (2.910) 
Available-for-sale financial assets 13 (100)  (38.800) 
Property, plant and equipment   (498)  (44) 
Intangible assets   (162.687)  (215.133) 
Net cash (used in)/from investing activities   (148.227)  (362.991) 
          
CASH FLOW FROM FINANCING ACTIVITIES:
     
       
Receipts related with:      
Borrowings   2.404.391  9.949.500 
Interests and other similar income   17  80 
          
Payments related with:      
Borrowings   (2.403.135)  (9.632.363) 
Interests and other similar expense   (163.334)  (151.709) 
Dividends 32 (90.120)  (89.590) 
Net cash (used in)/from financing activities   (252.180)  75.917 
          
Net (decrease)/increase in cash and cash equivalents   105.880  (7.112) 
Cash and cash equivalents at de beginning of the year 17 61.246  68.358 
Cash and cash equivalents at the end of the period 17 167.126  61.246 
          
DETAIL OF CACH AND EQUIVALENTS      
Bank overdrafts 17 (861) 
Bank deposits 17 167.987  61.246 
    167.126  61.246 

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a) RESTATED AS REQUIRED BY IAS 19 (NOTES 3.1 AND 21)

THE ACOMPANYING NOTES FORM AN INTEGRAL PART OF THE STATEMENT OF FINANCIAL POSITION AS OF 31 DECEMBER 2013.
THE ACCOUNTANT                                                                  THE BOARD Of DIRECTORS