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2.- Basis of presentationof the financial statements
Regulatory financial reporting framework applicable to the Company
The accompanying financial statements were formally prepared by the Company’s directors in
accordance with the regulatory financial reporting framework applicable to the Company, which
consists of:
a) The Spanish Commercial Code and all other Spanish corporate law.
b) The Spanish National Chart of Accounts approved by Royal Decree 1514/2007 and its industry
adaptations, and Spanish National Securities Market Commission (CNMV) Circular 1/2008, of 30
January, on the periodic information of issuers whose securities are admitted to trading on
regulatedmarkets.
c) The mandatory rules approved by the Spanish Accounting and Audit Institute in order to
implement the Spanish National Chart of Accounts and the relevant secondary legislation, in
addition to themandatory rules approved by the SpanishNational Securities Market Commission.
d) All other applicable Spanish accounting legislation.
Fair presentation
The accompanying financial statements, which were obtained from the Company's accounting
records, are presented in accordance with the regulatory financial reporting framework applicable
to the Company and, in particular, with the accounting principles and rules contained therein and,
accordingly, present fairly the Company's equity, financial position, results of operations and cash
flows for 2013. These financial statements, which were formally prepared by the Company's
directors, will be submitted for approval by the shareholders at the Annual General Meeting, and it
is considered that they will be approved without any changes. The financial statements for 2012
were approved by the shareholders at the Annual General Meeting held on 24 April 2013.
Non-obligatory accountingprinciples applied
No non-obligatory accounting principles were applied. Also, the directors formally prepared these
financial statements taking into account all the obligatory accounting principles and standards with
a significant effect hereon. All obligatory accounting principles were applied.
Key issues in relation to themeasurement and estimationof uncertainty
In preparing the accompanying financial statements estimates were made by the Company's
directors in order to measure certain of the assets, liabilities, income, expenses and obligations
reported herein. These estimates relate basically to the following:
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The assessment of possible impairment losses on certain assets (see Notes 4.4 and 9).
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The useful life of the property, plant and equipment and intangible assets (see Notes 4.1
and 4.2).
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The calculation of provisions (see Notes 4.9 and 15).
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Programme amortisation (see Notes 4.5 and 13).
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The calculation of income tax and recoverability of tax losses (see Notes 4.7 and 18.).
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The fair value of the assets acquired and liabilities assumed in a business combination (see
Note 5).
Although these estimates were made on the basis of the best information available at 2013 year-
end, events that take place in the future might make it necessary to change these estimates
(upwards or downwards) in coming years. Changes in accounting estimates would be applied
prospectively.
At 2013 year-end the Company had a working capital deficiency of EUR 11,017 thousand covered
in full by the undrawn portion of the syndicated loan.
