CHAPTER 8 Further information Economic, financial information

94

Consolidated Profit and Loss Accounts At 31 December 2015 and 2014 Compañía Española de Petróleos, S.A.U and Subsidiaries (Consolidated Group) (Thousands of euros)

2015 2014 (Restated)*

Sales of goods and rendering of services 17,452,002 23,364,579

Excise tax on oil and gas charged on sales 2,440,124 2,275,283

Excise tax on Revenue (Notes 3.q and 21) 19,892,126 25,639,862

Changes in inventories of finished goods and work in progress (281,364) (47,395)

In-house work on non-current assets (Notes 8 and 10) 41,746 76,000

Procurements (Note 21) (13,233,951) (19,438,394)

Other operating income 71,789 63,672

Staff costs (Note 21) (586,036) (687,483)

Changes in operating allowance 160,934 (491,566)

Other operating expenses

Excise tax on oil and gas (2,443,564) (2,276,419)

Other expenses (Note 21) (2,331,005) (2,189,669)

Amortization charge (Notes 8 and 10) (1,004,236) (1,033,148)

Allocation to profit or loss of grants related to non-financial assets and other grants (Note 21) 33,320 25,861

Impairment and gains or losses on disposals of non-current assets (Note 21) (3,384,406) (40,210)

Operating profit (loss) (3,064,647) (398,889)

Share in profit of companies accounted for using the equity method (Note 7) (77,365) 29,045

Financial income (Note 23) 87,633 89,194

Financial costs (Note 23) (183,800) (106,991)

Impairment and gains or losses on disposals of financial instruments (Note 23) 303,785 6,266

The accompanying Notes 1 to 35 are an integral part of these Consolidated Statement of Profit or Loss. * Financial year 2014 has been restated for comparison purposes with financial year 2015.