ANNUAL REPORT ‘12
ECONOMIC AND FINANCIAL ANALYSIS
97
12_ECONOMIC AND FINANCIAL ANALYSIS
12.1_RESULTS
The signing of the Concession Contract between
ANA, S.A. and the Portuguese State on 14 December
2012 meant the adoption of the international financial
reporting standards for Service Concession Arrange-
ments (IFRIC 12) by ANA, S.A., parent company of the
Group.
It is important to remember that because 2012 was
the first year during which IFRIC 12 was applied to the
parent company’s financial statements, the impact is
higher now than it will be in later years. This is because
the total obligations accumulated with major repairs are
entered only once, at the initial application of the standard.
The results for ANA, S.A. and consequently the Group,
are therefore strongly influenced by the application of
this standard, with more significant impacts on operat-
ing profits, as can be seen in the table below.
ANAM, S.A., a company of the Group, is also affected
by the application of this standard. However, due to the
fact that this company has already been applying this
standard, there are no year-on-year significant impacts
worth mentioning in the Group’s financial statements.
For comparative purposes, and since this standard is
not retroactively applicable to ANA, S.A. and does not
require a reformulation of the financial statements
for previous years, results for the Group and for ANA,
S.A. are considered without the effects of IFRIC 12
whenever reasonable.
12.1.1_ANA Group
The Group ended the 2012 financial year with a net
profit of 53 million euros, a 23.5 million euro decrease
from 2011. As mentioned earlier, the results of the
parent company are the principal explanation for this
change, due to the preponderance of the company in
the Group.
ANA, S.A.’s contribution to the Group’s results was
86%, similar to that of previous years. However, it
Operating revenue
367,639.7
20,634.1
388,273.8
442,440.3
463,074.5
Goods sold and materials consumed
(1,999.8)
-
(1,999.8)
(2,166.4)
(2,166.4)
External supplies and services
(105,883.8)
(64,542.1)
(170,425.9)
(108,710.2)
(173,252.3)
Personnel costs
(53,761.4)
-
(53,761.4)
(106,824.0)
(106,824.0)
Provisions for the year
-
-
-
-
-
Other costs
(20,229.2)
-
(20,229.2)
(22,303.0)
(22,303.0)
Amortisation and depreciation
(72,577.5)
1,878.5
(70,699.0)
(78,977.3)
(77,098.8)
Operating results
113,188.1
(42,029.5)
71,158.6
123,459.5
81,430.0
Financial results
(4,172.5)
-
(4,172.5)
(8,052.0)
(8,052.0)
Corporate income tax expenditure
(21,308.1)
12,685.0
(8,623.0)
(31,041.7)
(18,356.7)
Net profit
87,707.5
(29,344.5)
58,363.0
82,368.4
53,023.9
Description
2012 without
IFRIC
(thousand euros)
2012 with
IFRIC
IFRIC
impact
2012 with
IFRIC
2012 without
IFRIC
1
ANA, S.A.
ANA GROUP
(1) Without IFRIC at ANA, S.A.
