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)

ASSETS NOTES '13 '12
NON-CURRENT ASSETS:      
Tangible fixed assets 5 e 6 642 564
Investments - equity method 7 879.938 815.832
Available-for-sale financial assets 11 45.871 131.002
Other receivables 9 2.232.287 1.514.427
Other financial assets 9 102.274 112.583
Derivative financial instruments 10 - 6.853
Deferred tax assets 8 5.414 8.973
Total NON CURRENT ASSETS
  3.266.427 2.590.235
CURRENT ASSETS:      
Trade receivables 9 329 368
State and other public entities  16 - 14.318
Other receivables 9 470.800 1.122.491
Deferrals 12 78 101
Derivative financial assets 10 - 416
Other financial assets 9 8.864 8.864
Cash and bank deposits 4 158.002 54.929
Total current assets
  638.073 1.201.486
Total assets
  3.904.500 3.791.721


EQUITY AND LIABILITIES

     
EQUITY:      
Share Capital 13 534.000 534.000
Own shares 13 (10.728) (10.728)
Legal reserve 13 91.492 85.437
Other reserves 13 166.005 149.484
Adjustments to financial assets  13 14.137 (3.167)
Retained earnings   247.172 222.252
    1.042.078 977.277
Non ptofit for the period   116.071 121.095
Total equity   1.158.149 1.098.372

LIABILITIES
     
NON CURRENT ASSETS      
Provisions 14 134 -
Borrowings 15 2.354.797 1.418.254
Post employment benefit liabilities   5 3
Derivative financial instruments 10 34.320 27.958
Total non-current liabilities
  2.389.256 1.446.215
CURRENT LIABILITIES:      
Provisions 14 40 1.372
Trade payables 15 2.299 6.189
State and othe public entities 16 45.642 816
Derivative financial instruments 10 2.683 811
Borrowings 15 246.294 1.163.243
Other payables 15 59.563 73.556
Deferrals 17 574 1.147
Total current liabilities
  357.095 1.247.134
Total liabilities   2.746.351 2.693.348
Total equity and liabilities
  3.904.500 3.791.721

Download Table

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

 

Statements of profit and loss by nature 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)

REVENUES AND EXPENSES NOTES '13 '12
Services rendered 18 14.663 14.203
Gains / loss from subsidiaries and associates  7 e 19 121.709 125.831
Supplies and services 20 (8.280) (12.592)
Personnel costs 21 (6.544) (7.072)
Provisions (increases /decreases) 14 (115) (440)
Other income 22 16.096 476
Other expenses 23 (987) (1.189)
Profit before amortization, depreciation, finance costs and taxes   136.543 119.218
       
Depreciation charge / reversal 5 (158) (124)
Operating profit (before finance costs and taxes)   136.385 119.094
       
Interest and similar income 24 130.766 132.233
Interest and similar costs 24 (164.057) (146.628)
Dividends 25 6.578 7.461
Profit before taxes
  112.159 112.159
       
Income tax for the period 8 6.400 8.936
Non prfit for the period
  116.071 121.095
       
Basic earnings for cash
  0.22 0.23

Download Table

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

 

Statement 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)

                      '12
  Notes Capital Own shares Legal reserve Hedging reserve (NOTE 10) Fair value reserve
(NOTE 11)
Other reserves Retained earnings Adjustment of financial assets(NOTE 7) Net profit for the value Total equity

Balances at the beginning of 2012

  534.000 (10.728) 79.809 (10.503) (14.244) 163.510 221.596 (3.171) 112.553 1.072.823
                       

CHANGES IN THE YEAR

                     
Changes in fair value 10 e 11 - - - (16.109) 10.151 - - - - (5.958)
Appropriation of the profit for the preceding year 13 - - 5.627 - - 16.679 656 - (22.963) -
Adjustments in financial assets 7 - - - - - - - 4 - 4
    - - 5.627 (16.109) 10.151 16.679 656 4 (22.963) (5.955)
                       

OPERATIONS DURING THE YEAR WITH SHAREHOLDERS

                     

Distribution of dividends

13 - - - - - - - - (89.590) (89.590)
    - - - - - - - - (89.590) (89.590)
                       
Net profit for the year                   121.095 121.095
Comprehensive income

  - - - (16.109) 10.151 - - - 121.095 115.137

Balances at the end of 2012

  534.000 (10.728) 85.437 (26.612) (4.093) 180.189 222.252 (3.167) 121.095 1.098.372
                       
                      '13
  Notes Capital Own shares Legal reserve Hedging reserve (NOTE 10 Fair value reserve
(NOTE 11
Other reserves Retained earnings Adjustment of financial assets
(NOTE 7)
Net profit for the period Total equity
Balances at the beginning of 2013
  534.000  (10.728)  85.437  (26.612)  (4.093)  180.189  222.252  (3.167)  121.095  1.098.372 
                       
CHANGES IN THE YEAR:
                     
Changes in fair value 10 e 11 - - - 8.624 22.285 - - - - 30.909
Available-for-sale financial assets disposals 11 - - - - (14.387) - - - - (14.387)
Appropriation of the profit for the preceding year 13 - - 6.055 - - - 24.920 - (30.975) -

Adjustments in financial assets

7 e 13 - - - - - - - 17.304 - 17.304
    - - 6.055 8.624 7.898 - 24.920 17.304 (30.975) 33.826
                       
OPERATIONS DURING THE YEAR WITH SHAREHOLDERS
                     
Distribution of dividends 13 - - - - - - - - (90.120) (90.120)
    - - - - - - - - (90.120) (90.120)
                       
Net profit for the year                    116.071 116.071
Comprehensive income
  - - - 8.624 22.285 - - - 116.071 146.980
Balances at the end of 2013   534.000 (10.728) 91.492 (17.989) 3.805 180.189 247.172 14.137 116.071 1.158.149

Download Table

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

 

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    28.390   20.452  
Cash paid to suppliers   (22.047)   (6.510)  
Cash paid to personnel   (6.510)   (5.883)  
Cash generated by operations   (168)   199  
           
Income tax (paid)/received   14.069   43.945  
Other payments/receipts relating to operating activities 4 4.338)   (30.175)  
Flows generated by /(used in) operations [1]     9.563   13.969
           
FLOWS FROM INVESTING ACTIVITIES:C          
Payments relating to:          
Financial investments 7 (44.730)   -  
Borrowings   (800.000)   (668.500)  
Other financial assets 4 e 9 (210.000)   (117.162)  
Available-for-sale financial assets 11 (100)   (38.800)  
Tangible assets   (20) (1.054.851) (41) (824.503)
           
Receipts relating to:          
Available-for-sale financial assets  11 107.516      
Other financial assets 9 207.264      
Supplementary contributions  7 -   2.000  
Borrowings   884.147   99.155  
Interest and similar income   127.560   128.853  
Dividends 7 e 25 125.645 1.452.131 120.156 350.163
Flows generated by investing activities [2]     397.280   (474.340)
           
FLOWS FROM FINANCING ACTIVITIES          
Receipts relatin for:
         
Borrowings   2.444.001   10.320.502  
Interest and similar income   - 2.444.001 63 10.320.565
Payments relating to:          
Borrowings   (2.511.166)   (9.625.009)  
Interest and similar costs   (160.349)   (150.833)  
Dividends 13 (90.120) (2.761.634) (89.590) (9.865.431)
Flows from financing activities [3]     (317.633)   455.134
           
Changes in cash and cash equivalents [4]=[1]+[2]+[3]     89.209   (5.237)
           
Cash and cash equivalents at the beginning of the year 4   54.929   60.166
           
Cash and cash equivalents at the end of the year 4   144.138   54.929

Download Table

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