Basic HTML Version
9
FINANCIAL STATEMENTS, MANAGEMENT AND CORPORATE GOVERNANCE REPORT.
2011
NOTES
2011
2010
Finance Cost
(4,839)
(2,654)
Borrowing from group companies and associates
19
(1,654)
(715)
Third-party borrowings
(3,185)
(1,939)
Change in fair value of financial instruments
8
-
(825)
Trading portfolio and other securities
-
(825)
Exchange gains (losses)
936
(171)
Impairment and gains (losses) on disposal of financial instruments
(7,674)
(100,760)
Impairment losses and losses
(8,517)
(100,768)
Gains (losses) on disposal and other gains and losses
7
843
8
FINANCIAL RESULT
58,843
(30,687)
PROFIT BEFORE TAX
148,282
115,662
Income tax
15
(11,018)
(1,728)
PROFIT FOR THE PERIOD FROM CONTINUING OPERATIONS
137,264
113,934
DISCONTINUED OPERATIONS
Profit/ (loss) after tax for the year from discontinued operations
-
-
PROFIT FOR THEYEAR
137,264
113,934
Read with the attached explanatory notes.
Madrid, 22 February 2012.
(Continued)