Consolidated and individual financial statements - CTT

07

Consolidated and individual financial statements

INTEGRATED REPORT 2019

07 Consolidated and individual financial statements

Consolidated Statement of Financial position as at 31 January 2018 and 31 December 2019

(Amounts expressed in Euros)

CTT- CORREIOSDEPORTUGAL, S.A. CONSOLIDATED STATEMENTOFFINANCIAL POSITION ASAT1 JANUARY 2018, 31 DECEMBER2018 AND 31 DECEMBER2019 Euros

NOTES

Restated 01.01.2018

Group Restated

31.12.2018

ASSETS Non- current assets Tangible fixed assets Investment properties Intangible assets Goodwill Investments in subsidiary companies Investments in associated companies Investments in joint ventures Other investments Debt securities Shareholders Accounts receivable Other non- current assets Credit to banking clients Financial assets available for sale Other banking financial assets Deferred tax assets Total non- current assets

5

275,326,349

264,708,624

7

6,164,849

8,179,980

6

47,501,684

56,770,556

9

9,523,180

9,523,180

10

-

-

11

296,260

296,260

12

-

496,076

13

1,503,572

1,379,137

14

245,827,759

429,038,681

50

-

-

18

-

-

23

1,375,223

1,526,644

19

64,263,949

231,797,420

14

3,175,180

-

15

11,831,122

22,692,434

49

91,954,991

81,734,114

758,744,118

1,108,143,106

Current assets Inventories Accounts receivable Credit to banking clients Shareholders Income taxes receivable Deferrals Debt securities Other current assets Financial assets available for sale Other banking financial assets Cash and cash equivalents

Non- current assets held for sale Total current assets Total assets

17

5,696,996

5,568,114

18

132,480,130

135,855,195

19

15,083,442

16,252,561

50

-

-

36

1,552,005

5,040,275

20

6,600,115

6,691,359

14

15,721,373

25,063,201

23

32,338,234

35,517,214

14

2,576,194

-

15

91,417,084

93,621,151

22

626,825,397

422,717,478

930,290,968

746,326,549

21

-

-

930,290,968

746,326,549

1,689,035,086

1,854,469,655

EQUITY AND LIABILITIES Equity Share capital Own shares Reserves Retained earnings Other changes in equity Net profit

Equity attributable to equity holders Non- controlling interests Total equity

25

75,000,000

75,000,000

26

(8)

(8)

26

79,947,883

65,836,875

26

48,787,928

4,378,984

26

(32,634,996)

(30,993,430)

-

21,499,271

171,100,807

135,721,692

29

146,738

165,494

171,247,545

135,887,186

Liabilities Non- current liabilities Accounts payable Medium and long term debt Employee benefits Provisions Deferrals Other banking financial liabilites Deferred tax liabilities

Total non- current liabilities

33

-

-

30

75,182,674

100,282,203

31

252,919,533

244,562,078

32

26,028,332

16,019,339

20

316,892

305,691

15

-

-

49

3,399,121

3,108,662

357,846,552

364,277,973

Current liabilities Accounts payable Banking clients' deposits and other loans Shareholders Employee benefits Income taxes payable Short term debt Deferrals Other current liabilities Other banking financial liabilities Total current liabilities Total liabilities Total equity and liabilities

33

384,533,294

322,276,222

34

619,229,680

883,950,534

50

-

-

31

17,100,808

17,119,105

36

-

-

30

28,208,503

27,096,073

20

1,432,696

2,708,090

35

91,553,848

86,203,693

15

17,882,160

14,950,779

1,159,940,989

1,354,304,496

1,517,787,541

1,718,582,469

1,689,035,086

1,854,469,655

31.12.2019

263,443,040 7,653,000

62,012,644 70,201,828

293,434 2,723,803 1,379,137 424,851,179

1,543,308 792,469,611 18,764,049 89,329,806 1,734,664,839

5,860,069 146,471,712

93,350,959 -

7,305,261 31,560,152 35,766,227

14,660,286 442,995,724 777,970,390

805,675 778,776,065 2,513,440,904

75,000,000 (8)

65,852,595 10,867,301 (49,744,144) 29,196,933 131,172,677

242,255 131,414,932

148,597,934 267,286,679

17,635,379 294,490

76,060,295 2,958,115

512,832,892

373,790,665 1,321,418,042

19,416,212

5,958,753 26,813,567

3,454,477 100,353,646

17,987,719 1,869,193,080 2,382,025,972 2,513,440,904

Restated

01.01.2018

244,833,955 6,164,849

19,789,332 -

120,041,302 295,779 -

1,503,572 -

2,658,000 -

1,092,403 -

89,353,409 485,732,601

5,022,455 95,987,068

3,755,511 1,564,777 5,111,904

27,922,910

376,590,733 515,955,358 515,955,358 1,001,687,959

75,000,000 (8)

79,897,560 48,856,774 (32,653,520)

171,100,806

171,100,806

58,732,903 252,595,578 29,550,059

316,892 -

3,368,115 344,563,547

361,001,085 -

12,821,447 17,069,013

14,653,193

1,425,534 79,053,334

486,023,606 830,587,153 1,001,687,959

The attached notes are an integral part of these financial statements.

Company Restated

31.12.2018

229,532,691 8,179,980

25,422,412 -

113,576,926 295,779 496,076

1,379,137 -

1,350,000 -

1,252,268 -

79,559,985 461,045,254

5,187,053 100,059,980

10,599,851

4,965,933 5,045,157

28,987,226

271,758,311 426,603,511 426,603,511 887,648,765

75,000,000 (8)

65,836,605 4,387,132

(31,001,308) 21,499,271

135,721,692 -

135,721,692

312,744 77,986,890 244,249,491 13,257,258

305,691 -

3,083,265 339,195,339

300,597,319 -

5,539,255 17,087,341

16,850,735

2,066,612 70,590,472

412,731,734 751,927,073 887,648,765

31.12.2019

226,480,627 7,653,000

27,640,021 -

233,475,030 292,953

2,723,803 1,379,137

15,058,000

661,287 1,237,070

85,539,541 602,140,469

5,491,844 112,842,210

1,689,268

5,384,781

26,939,374

261,591,807 413,939,283 413,939,283 1,016,079,752

75,000,000 (8)

65,836,605 10,679,731 (49,540,583) 29,196,933 131,172,677

131,172,677

309,007 127,316,593 265,431,555

12,847,350 294,490 -

2,855,318 409,054,313

344,227,004 -

22,109,176 19,383,977

1,948,562 12,898,704

2,624,716 72,660,624

475,852,762 884,907,075 1,016,079,752

The attached notes are an integral part of these financial statements.

188

CONSOLIDATED AND INDIVIDUAL FINANCIAL STATEMENTS 189

INTEGRATED REPORT 2019

Consolidated income Statment for the twelvemonth periods ended 31 December 2018 and 31 December 2019

(Amounts expressed in Euros)

CTT-CTOTR-RCEOIORSREDIEOPSODRETPUOGRATLU,GS.AAL., S.A. CONSCOOLNIDSOATLEIDDAITNECDOIMNCEOSTMAETSETMAETNETMFEONRTTFHOERTTWHELTVWEEMLVOENMTHOPNETRHIOPDERSIEONDDSEEDN3D1EDDE3C1EDMEBCEERM2B0E1R82A0N1D8 A3N1DDE3C1EDMEBCEERM2B0E1R92019

EurosEuros

NOTENSOTES

TwelTvwe melovnetmh

RestaRtedstated 31.123.12.01128.2018

SalesSaanledssaenrvdicsesrvriecnedsererenddered FinanFciinaal nmcaiargl minargin OtherOotpheraotpinegrainticnogminecome

4/ 394/ 39 40 40 41 41

685,964845,692424,622 7,867,482647,424

1 4 ,4 0124,04602 ,0 6 2

708,271048,120184,108

Cost oCfossatloefssales ExterEnxatlesrunpapl lsieusppalniedssaenrvdicsesrvices Staff Scotasftfscosts ImpaIimrmpeanirtmofeanctcoofuanctcsoruenctesivreacbeleiv,anbelte, net ImpaIimrmpeanirtmofeontthoefroftinhaenr fciinaal nbcainakl binagnaksinsgetasssets ProviPsiroonvsis,inoents, net DepreDceiaptrieocnia/ taiomno/ratimsaotriotinsaatniodnimanpdaimrmpeanirtmofeinntvoefsitnmvesnttms,ennetts, net OtherOotpheraotpinegractoinsgtscosts GainsG/ aloinsss/elsoossnedsisopnodsiaslpoofsaasl soef tasssets

17 17 42 42 43 43 44 44 44 44 32 32 45 45 46 46 47 47

(13,8(9163,282926),222 (229(,426289,842618),821 (353(,631513,769131),793

(2,24(2,828402),880 (197(,714937),743

(1,92(01,09240),024 (56,7(0556,274025),242 (13,8(2183,681268),616

9,2519,720581,708

(662(,61692,63149),634

4 5 ,5 9445,45794 ,4 7 4

IntereInsteerxepset enxsepsenses IntereInsteinrecsotminecome GainsG/aloinsss/elsoisnsseusbinsisduiabrsyid, aiasrsyo,caisasteodcicaotemdpcaonmiepsaanniedsjoainndt vjoeintuvreenstures

48 48 48 48 10/ 1110//1121/ 12

(9,70(59,072065),026 48,71418,711

(795(,97395),935

(10,4(5120,24502),250

EarnEinargnsinbgesfobreeftoarxeetsaxes

IncomInectoamx efotratxhfeopr ethrieopderiod

Net Npreotfpitrfoofrittfhoerptheeripoedriod

Net Npreotfpitrfoofrittfhoerptheeripoedraiottdriabtutrtaibbuletatbol:e to:

EquitEyqhuoiltdyehroslders Non-Ncoonnt-rcoollnintgroilnlitnegreinstesrests EarniEnagrsnpinegrsshpaeres:hare:

The aTtthaechaettdancohetedsnaorteeasnairneteagnrianltepagrtaol pfathrteosfethfienasnecfiainlasntcaitael msteatnetsm.ents.

49 49

29 29 28 28

35,14325,212442,224 (13,6(2113,966221),962

21,5201,256220,262

21,49291,247919,271 2 0 ,9 920 ,9 9 0 0 .1 4 0 .1 4

The attached notes are an integral part of these financial statements.

190

CONSOLIDATED AND INDIVIDUAL FINANCIAL STATEMENTS

DECEMBER2019

NOTES

Twelve monthsended

Group

Restated 31.12.2018

31.12.2019

Three monthsended

Restated 31.12.2018

31.12.2019

4/ 39 40 41

685,944,622 7,867,424

14,402,062

708,214,108

688,021,669 29,315,856 22,948,405

740,285,930

177,803,975 2,370,311 3,238,466

183,412,752

181,631,937 10,421,070 8,682,378

200,735,385

17

(13,896,222)

(14,261,450)

(4,222,929)

(4,805,042)

42

(229,468,821) (242,776,520)

(61,021,802)

(64,942,709)

43

(353,611,793) (356,004,365)

(87,510,047)

(93,868,310)

44

(2,242,880)

(7,800,406)

(1,958,287)

(3,603,244)

44

(197,743)

(3,095,636)

(224,864)

(1,409,457)

32

(1,920,024)

905,250

(941,817)

393,979

45

(56,705,242)

(54,223,229)

(13,883,706)

(14,760,277)

46

(13,828,616)

(16,233,140)

(3,765,301)

(4,730,529)

47

9,251,708

488,912

9,113,595

34,690

(662,619,634) (693,000,585)

(164,415,158) (187,690,900)

45,594,474

47,285,345

18,997,594

13,044,485

48 48 0/ 11/ 12

(9,705,026) 48,711

(795,935)

(10,452,250)

(10,421,170) 63,609

(1,400,621)

(11,758,182)

(2,389,736) 12,262

(893,528)

(3,271,002)

(2,920,989) (133,260) (788,869)

(3,843,118)

35,142,224

35,527,163

15,726,592

9,201,367

49

(13,621,962)

(6,242,463)

(5,679,570)

(2,798,067)

21,520,262

29,284,700

10,047,021

6,403,300

Twelve monthsended

Company

Three monthsended

31.12.2018

31.12.2019

525,021,420 -

38,346,794

563,368,214

522,297,559 -

40,541,244

562,838,803

(13,140,650) (120,270,321) (314,762,343)

646 -

(89,590) (44,373,999)

(9,331,854) 9,251,708

(492,716,403)

70,651,811

(13,588,474) (121,098,644) (310,883,876)

(1,905,392) -

1,367,746 (41,077,288)

(8,823,425) 452,776

(495,556,578)

67,282,225

31.12.2018

31.12.2019

140,125,677 -

9,058,697

149,184,373

135,789,237 -

12,527,182

148,316,420

(5,686,394) (31,698,471) (79,771,918)

(50,966) -

(435,624) (10,840,342)

(2,699,267) 9,113,595

(122,069,388)

27,114,985

(4,620,763) (31,309,271) (81,201,296)

(1,247,811) -

669,600 (11,242,399)

(2,383,682) 28,900

(131,306,721)

17,009,699

(8,394,183) 232,643

(23,901,254)

(32,062,794)

(9,094,665) 351,179

(12,795,844)

(21,539,329)

(2,057,701) 54,193

(8,127,539)

(10,131,047)

(2,567,708) (46,674)

(3,299,162)

(5,913,544)

38,589,017 (17,089,746)

21,499,271

45,742,896 (16,545,962)

29,196,933

16,983,938 (6,930,580) 10,053,358

11,096,154 (4,751,404)

6,344,751

21,499,271

29,196,933

10,053,359

6,344,751

29

20,990

87,767

(6,338)

58,549

28

0.14

0.19

0.00

(0.00)

0.14

0.19

0.14

0.19

191

INTEGRATED REPORT 2019

Consolidated and individual statement of comprehensive income for the twelvemonth periods ended 31 December 2018 and 31 December 2019

(Amounts expressed in Euros)

CCTTTCT--TCCTO-ORCRROREREIORIOESSIODDSEEPDPOEORPRTOTURUGTGAUALGL,A,SSL.A.,AS...A. CCOONCNSOSONOLSLIODIDLAAITDTEAEDDTAEADNNDADNININDDDIINVIVDIDIIDVUUIADALULSASTLTASATTTEAEMMTEENMNTETONOTFFOCCOFOMCMOPPMRREPEHRHEEENHNSESINVIVSEEIIVNINECCIONOMCMOEEMFFOEORFROTTHRHETETHTWEWTEEWLLVVEELEMVMEOOMNNTOTHNHPTPHEERPRIOEIORDDISOSDEENSNDEDENEDDD3E3D11D3D1EECDCEEEMCMBEB EEuurrEooussros

NNeetNtpperrotopffirtiotffooirtrftthoheretphpeeerrpioieodrdiod

NNOONTTEOESTSES

TTwwTeelwlvveelmvmeoonmntthohsnsteh RReessRttaeatsteetdadted

3311.31.1122..12.2200.12180818 33

2211,25,5122,050,22,2066,2262 22

AAddjAujusdstjtmumsetenmnttsesnffrtrosomfmroaamppppalilpcicpaaltiticoioanntiooofnftthohefeteheqequueitiqtyyumimtyeetmthhoeodtdh(o(nndoon(nroreen--crcelal-ascsslsaifisfiaisabifblielaebaaldedjujausdstjtmumsetenmnttettonotpptroroopffirtiotaafnintddand lolossslso))ss)

CChhaCannhggaeenssgtetoosffataoirifrvavaiarlulvueaelrureessererrvsveerssves

EEmmpEplmoloypyeleoeeybebeeennbeeffnitietssf(i(ntnsoon(nroreen--crcelal-ascsslsaifisfiaisabifblielaebaaldedjujausdstjtmumsetenmnttettonotpptroroopffirtiotaafnintddalnolodssslso))ss)

226626

226626 331131

((22,2,(2233,525)3) 5)

((5500(,50,0055,303)5) 3) 22,1,1288,111,87,711,27212 ((2

DDeefDfeeerrfreeedrdrtetaadxx/t/aEExmm/ pEplmoloypyeleoeeybebeeennbeeffnitietssf(i(ntnsoon(nroreen--crcelal-ascsslsaifisfiaisabifblielaebaaldedjujausdstjtmumsetenmnttettonotpptroroopffirtiotaafnintddalnolodssslso))ss)

OOtthhOeertrhccehhraacnnhggaeenssgieninseeiqnquueitiqtyyuity OOtthhOeertrhcceoormmcpoprmreephhreennhsseivinveseiivnineccoionmmceoemffooerrftthoheretphpeeerrpioieodrdiaoafdftteaerfrttaeaxrxeteassxes CCoomCmpoprmreephhreennhsseivinveseiivnineccoionmmceoemffooerrftthoheretphpeeerrpioieodrdiod

449949 2266/2/2629/929

((5544(050,41,1044,616)4) 6)

((22,2,(2233,525)3) 5) 11,5,5188,757,80,0744,30343 ((118 2233,21,1300,717,03,3700,53505 11

AAtttrAribitbturutitababubltelaebttoloenntooonn--occnoo-nncttroronoltlirlnionglgliinningtteeirnreteesstrtsessts AAtttrAribitbturutitababubltelaebttoloessthohaasrrheeahhrooeldlhdeoerlrdsseoorfsfCCoTfTTCTTT

1188,17,7855,67656 2233,20,0388,808,85,5844,95949

TThheeTaahttetaaccththeaedcdhnneoodttenesosataerreseaanrneiniantnteeigngrtraealglprpaarlrtptoaofrftthohefestseheeffisnineaafninncciaaianl lcssitataaltsteetmamteeenmnttses.n. ts.

The attached notes are an integral part of these financial statements.

192

CONSOLIDATED AND INDIVIDUAL FINANCIAL STATEMENTS

MMOONNTTHHPPEERRIOIODDSSEENNDDEEDD3311DDEECCEEMMBBEERR22001188AANNDD3311DDEECCEEMMBBEERR22001199

NNOOTTEESS

GGrorouupp TTwweelvlveemmoonnththsseennddeedd

TThhrereeemmoonnththsseennddeedd

RReestsatatetedd

RReestsatatetedd

3311.1.122.2.2001188 3311.1.122.2.2001199

3311.1.122.2.2001188 3311.1.122.2.2001199

2211,5,52200,2,26622 2299,2,28844,7,70000

1100,0,04477,0,02211 66,4,40033,3,30000

CCoommppaannyy

TTwweelvlveemmoonnththsseennddeedd

TThhrereeemmoonnththsseennddeedd

RReestsatatetedd

RReestsatatetedd

3311.1.122.2.2001188 3311.1.122.2.2001199

3311.1.122.2.2001188 3311.1.122.2.2001199

2211,4,49999,2,27711 2299,1,19966,9,93333

1100,0,05533,3,35599 66,3,34444,7,75511

2266

2266 3311 4499 2266/ /2299

(2(2,2,23355) )

(1(100,9,95544) )

(5(500,0,05533) )

1155,7,72200

22,1,18811,7,71122 (2(255,7,76699,2,25533))

(5(54400,1,14466) )

77,0,01188,5,53399

(2(2,2,23355) )

(1(111,0,00055) )

11,5,58877,0,04433 (1(188,7,75566,9,95522))

2233,1,10077,3,30055 1100,5,52277,7,74477

1188,7,75566 2233,0,08888,5,54499

7766,7,76622 1100,4,45500,9,98866

(2(23300) )

(9(9,5,52233) )

(3(377,3,30099) )

(3(3,5,52277) )

22,1,18811,7,71122 (2(255,7,76699,2,25533))

(5(54400,1,14466) )

77,0,01188,5,53399

(2(23300) )

114400,8,81188

11,6,60033,7,79977 (1(188,6,62222,9,94466))

1111,6,65500,8,81188 (1(122,2,21199,6,64466))

(6(6,5,56688) )

4488,9,97755

1111,6,65577,3,38866 (1(122,2,26688,6,62211))

(7(71188,6,60033) )

(2(20066,6,67722) )

-22,1,19955,4,44499

-(2(255,5,54400,0,04455) )

(5(54433,2,23377) )

77,0,00000,7,77700

--

--

993333,6,60099 (1(188,7,74455,9,94477))

2222,4,43322,8,88800 1100,4,45500,9,98866

(4(488,1,18855) )

(2(22244,4,49900) )

-22,1,19955,4,44499

-(2(255,5,54400,0,04455) )

(5(54433,2,23377) )

77,0,00000,7,77700

--

115500,3,39922

11,6,60044,0,02277 (1(188,6,61133,3,37722))

1111,6,65577,3,38866 (1(122,2,26688,6,62233))

193

INTEGRATED REPORT 2019

Consolidated statement of changes in equity as at 31 December 2018 and 31 December 2019

(Amounts expressed in Euros)

CTT- CORREIOSDEPORTUGAL, S.A. CONSOLIDATED STATEMENTOFCHANGESIN EQUITYASAT31 DECEMBER2018 AND 31 DECEMBER2019 Euros

Reportedbalance on1 January 2018

Impact on initial application of IFRS16 (net of tax)

Restatedbalance on1 January 2018

Adjustment on initial application of IFRS9 (net of tax) Adjustment on initial application of IFRS15 (net of tax)

Adjustedbalance on1 January 2018

Appropriation of net profit for the year of 2017 Dividends

Other movements Actuarial gains/ losses - Health Care, net from deferred taxes Changes to f air value reserves Adjustments from the application of the equity method Restated net profit for the period Restated comprehensive income for the period

Restatedbalance on31 December 2018

Appropriation of net profit restated for the year of 2018 Dividends

Other movements Actuarial gains/ losses - Health Care, net from deferred taxes Changes to f air value reserves Adjustments from the application of the equity method Net profit for the period Comprehensive income for the period

Balance on31 Dectember 2019

The attached notes are an integral part of these financial statements.

NOTES

3

27/ 29 26/ 29

26 26 26

27/ 29 26/ 29

26 26 26

Share capital

7 5 ,0 0 0 ,0 0 0 -

7 5 ,0 0 0 ,0 0 0 -

7 5 ,0 0 0 ,0 0 0 -

7 5 ,0 0 0 ,0 0 0 -

7 5 ,0 0 0 ,0 0 0

Own Sha

The attached notes are an integral part of these financial statements.

194

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