CONSOLIDATED FINANCIAL STATEMENTS 2016. FERROVIAL, S.A. AND SUBSIDIARIES

B. CONSOLIDATED STATEMENTS OF PROFIT OR LOSS FOR 2016 AND 2015

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2016

2015

(Millions of euros)

Notes

Before fair value adjustments

(*) Fair value adjustments

Total 2016

Before fair value adjustments

(*) Fair value adjustments

Total 2015

(*)

Relating to gains and losses arising from changes in the fair value of derivatives and other financial assets and liabilities (see Note 5.5), asset impairment (see Note 2.5) and the impact of the two items on “Share of Profits of Companies Accounted for Using the Equity Method” (see Note 2.7).

(**)

“Impairment and Disposals of Non-Current Assets” includes mainly the gains and losses arising from asset impairment and from the sale and disposal of investments in Group companies and associates. When control is lost as a result of these disposals, the gain relating to the recognition at fair value of the investment retained is presented in the “Fair Value Adjustments” column.

Revenue

 

10,759

0

10,759

9,701

0

9,701

Other operating income

 

7

0

7

9

0

9

TOTAL OPERATING INCOME

2.1

10,765

0

10,765

9,709

0

9,709

Materials consumed

2.2

1,267

0

1,267

1,143

0

1,143

Other operating expenses

2.2

4,736

0

4,736

4,735

0

4,735

Staff costs

2.3

3,819

0

3,819

2,805

0

2,805

TOTAL OPERATING EXPENSES

 

9,821

0

9,821

8,683

0

8,683

Gross profit from operations

2.4

944

0

944

1,027

0

1,027

Depreciation and amortisation charge

 

342

0

342

256

0

256

Profit from operations before impairment and disposals of non-current assets

2.4

602

0

602

770

0

770

Impairment and disposals of non-current assets (**)

2.5

330

-6

324

185

-54

131

Profit from operations

 

932

-6

926

955

-54

901

Financial result on financing

 

-305

0

-305

-463

0

-463

Result on derivatives and other financial results

 

-7

-12

-20

-12

-188

-200

Financial result of infrastructure projects

 

-313

-12

-325

-474

-188

-662

Financial result on financing

 

-49

0

-49

-35

0

-35

Result on derivatives and other financial results

 

-4

-13

-18

12

49

61

Financial result excluding infrastructure projects

 

-53

-13

-66

-24

49

26

Financial result

2.6

-365

-26

-391

-498

-138

-637

Share of profits of companies accounted for using the equity method

3.5

214

-132

82

275

37

312

Consolidated profit before tax

 

780

-164

617

732

-155

577

Income tax

2.8

-245

11

-233

25

30

54

Consolidated profit from continuing operations

 

536

-153

383

757

-126

631

Net profit from discontinued operations

 

0

0

0

0

0

0

Consolidated profit for the year

 

536

-153

383

757

-126

631

Profit or loss for the year attributable to non-controlling interests

2.9

-11

4

-7

33

56

89

Profit for the year attributable to the Parent

 

525

-149

376

790

-70

720

Net earnings per share attributable to the Parent (Basic / Diluted)

2.10

 

 

0.51/0.51

 

 

0.98/0.98

The accompanying Notes 1.1 to 7.1 are an integral part of the consolidated statement of profit or loss for the year ended 31 December 2016.

Translation of consolidated financial statements originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the Group in Spain (see Notes 1.1 and 7.1). In the event of a discrepancy, the Spanish-language version prevails.

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