SOL MELIA ANNUAL REPORT 00 COMP

CONSOLIDATED PROFIT AND LOSS ACCOUNT
In thousands of Pesetas
A. EXPENSES
31/12/1998 31/12/1999 31/12/2000
1. Supplies and other external expenses 29,526 14,282,829 19,299,455
2. Personnel expenses
a) Salaries, wages and related expenses 2,198,493 25,844,228 34,321,572
b) Social Security 634,377 8,837,938 11,001,002
3. Fixed assets depreciation charges 804,121 10,379,850 13,984,526
4. Changes in trade provisions 284,350 239,348 614,507
5. Other operating expenses 4,341,869 27,281,303 39,782,444
I. OPERATING PROFIT 7,457,260 22,718,797 29,395,648
6. Financial expenses 90,158 4,883,404 9,415,580
7. Changes in provisions for decline in value of investments 31,512 (14,534)
8. Foreign currency losses 260,007 5,452,105 6,986,389
II. FINANCIAL PROFIT 106,916 - -
9. Amortization of consolidation goodwill 231,119 304,151 443,670
III. PROFIT FROM ORDINARY ACTIVITIES 7,912,946 18,394,943 20,601,728
10. Losses arising from sale of fixed assets 497,417 122,713 82,105
11. Changes in fixed asset provisions (47,721) 288,409
12. Extraordinary expenses and losses 349,117 1,401,461
13. Expenses and losses from prior years 851,565 1,513,441
IV. EXTRAORDINARY PROFIT --- 884,574 3,458,069
V. CONSOLIDATED PROFIT BEFORE TAXATION 7,738,464 19,279,517 24,059,797
10. Corporation tax 752,314 3,611,561 4,321,366
VI. CONSOLIDATED RESULT FOR THE YEAR (PROFIT) 6,986,150 15,667,956 19,738,432
11. Result attributed to minority shareholders 70,375 1,024,201 992,642
VII. RESULT FOR THE YEAR ATTRIBUTED TO
PARENT COMPANY (PROFIT) 6,915,775 14,643,755 18,745,790
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M ELIÁ
A NNUAL R EPORT 2000
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