”La Caixa”, BANKING FOUNDATION for 2018
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FINANCIAL STATEMENTS OF THE CAIXA D’ESTALVIS I PENSIONS DE BARCELONA, ”la Caixa”, BANKING FOUNDATION for 2018 Financial statements authorised for issue by the Chief Executive Officer on the 28 March 2019 for subsequent approval by the Board of Trustees. Translation of financial statements originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the company in Spain (see Note 2). In the event of a discrepancy, the Spanish-language version prevails. CAIXA D’ESTALVIS I PENSIONS DE BARCELONA, ”LA CAIXA”, BANKING FOUNDATION BALANCE SHEETS AT 31 DECEMBER 2018 AND 2017 (in thousands of euros) Notes ASSETS to the financial 31/12/2018 31/12/2017 (*) statements A) NON-CURRENT ASSETS 11,306,043 11,304,082 Intangible assets Note 5 9,555 8,523 Computer software 9,555 8,523 Property, plant and equipment Note 5 372,535 369,941 Land and buildings 220,059 224,802 Plant and other property and equipment 137,441 131,810 Fixed assets in course of construction and advances 15,035 13,329 Non-current investments in Group companies and associates 10,467,353 10,467,366 Equity instruments Note 6.1 10,467,353 10,467,353 Debt securities - 13 Non-current financial assets Note 6.2 42,530 49,200 Equity instruments 251 251 Loans to entities 432 540 Other financial assets 474 311 Other accounts receivable from public administrations 41,373 48,098 Deferred tax assets Note 11 414,070 409,052 B) CURRENT ASSETS 193,359 183,480 Users and other receivables from core business - 139 Trade and other receivables 6,906 6,991 Receivable from Group companies and associates Note 12 89 2,038 Sundry accounts receivable 586 956 Personnel 108 99 Other accounts receivable from public administrations Note 6.2 6,123 3,898 Current investments in Group companies and associates Note 6.1 144,982 139,301 Other financial assets 144,982 139,301 Current financial assets 583 580 Equity instruments Note 6.2 410 413 Loans to entities Note 6.2 108 108 Other financial assets 65 59 Cash and cash equivalents Note 7 40,888 36,469 Cash 40,888 36,469 TOTAL ASSETS (A + B) 11,499,402 11,487,562 The accompanying Notes 1 to 18 and Appendices 1 and 2 are an integral part of the balance sheet at 31 December 2018. (*) Presented for comparison purposes only. 2 CAIXA D’ESTALVIS I PENSIONS DE BARCELONA, ”LA CAIXA”, BANKING FOUNDATION BALANCE SHEETS AT 31 DECEMBER 2018 AND 2017 (in thousand of euros) EQUITY AND LIABILITIES Notes 31/12/2018 31/12/2017(*) to the financial statements A) EQUITY 11,174,499 11,118,297 Shareholders' equity Note 8 11,174,493 11,118,289 Founding capital/Welfare Fund 5,868,000 5,868,000 Founding capital/Welfare Fund 5,868,000 5,868,000 Reserves 5,049,309 5,049,309 Other reserves 5,049,309 5,049,309 Surplus from previous years 200,980 127,831 Remainder 200,980 127,831 Surplus for the year 56,204 73,149 Valuation adjustments 6 8 B) NON-CURRENT LIABILITIES 95,911 122,756 Non-current provisions Note 9 702 1,231 Obligations for non-current employee benefits 412 941 Other provisions 290 290 Non-current payables Note 6.3 68,706 72,722 Other financial liabilities 68,706 72,722 Non-current payables to Group companies and associates Note 6.4 26,500 48,800 Deferred tax liabilities Note 11 3 3 C) CURRENT LIABILITIES 228,992 246,509 Current provisions Note 9 673 865 Current payables Note 6.3 6,336 16,542 Other financial liabilities 6,336 16,542 Current payables to Group companies and associates Note 6 23,496 23,143 Payables to beneficiaries Note 10 94,670 124,970 Trade and other payables 103,817 80,989 Suppliers, Group companies and associates Note 12 3,007 12,561 Accounts payable 98,461 65,261 Remuneration payable 49 9 Other payables to public administrations 2,300 3,158 TOTAL LIABILITIES AND EQUITY (A + B + C) 11,499,402 11,487,562 The accompanying Notes 1 to 18 and Appendices 1 and 2 are an integral part of the balance sheet at 31 December 2018. (*) Presented for comparison purposes only. 3 CAIXA D’ESTALVIS I PENSIONS DE BARCELONA, ”LA CAIXA”, BANKING FOUNDATION INCOME STATEMENT FOR THE YEARS ENDING 31 DECEMBER 2018 AND 2017 (in thousands of euros) Notes to the 2018 2017 (*) financial statements A) Continuing operations 1. Core income 20,954 22,518 User contributions 4,221 3,362 Subsidies and aid taken to surplus for the year Note 4 i) 7,203 10,741 Donations and legacies taken to surplus for the year Note 4 i) 1,293 2,010 Repayments of aid and concessions Note 10 8,237 6,405 3. Aid-related and other expenses (237,793) (254,040) Monetary aid Note 13.1 (237,267) (254,040) Refundable grants, donations and bequests received (526) - 7. Other income from business activity 4,154 4,896 8. Staff expenses Note 13.3 (34,869) (34,499) Wages, salaries and similar expenses (24,755) (24,884) Social benefit contributions (10,114) (9,615) 9. Other expenses from business activity (230,043) (192,711) External services Note 13.2 (235,359) (197,689) Taxes other than income tax (1,061) (2,019) Losses on, impairment of and changes in allowances for trade receivables 6,387 6,999 Other expenses (10) (2) 10. Depreciation and amortisation Note 5 (15,994) (15,394) 12. Surplus provisions - 813 13. Impairment and gains/(losses) on disposal of non-current assets Note 5 1,598 14 Gains/(losses) on disposals and other 1,598 14 A.1) SURPLUS FROM BUSINESS ACTIVITY (1+2+3+4+5+6+7+8+9+10+11+12+13) (491,993) (468,403) 14. Financial income 400,000 400,033 From investments in equity instruments 400,000 400,000 In Group companies and associates Note 6.1 400,000 400,000 From marketable securities and other financial instruments - 33 From Group companies and associates - 33 15. Financial costs Note 6.4 (695) (965) From payables to Group companies and associates (695) (965) 18. Impairment losses and gains/(losses) on disposal of financial - (7) instruments Gains/(losses) on disposals and other - (7) A.2) SURPLUS FROM FINANCIAL TRANSACTIONS (14+15+16+17+18) 399,305 399,061 A.3) SURPLUS BEFORE TAX (A.1+A.2) (92,688) (69,342) 19. Income tax Note 11 148,892 142,491 A.4) SURPLUS IN THE YEAR FROM CONTINUING OPERATIONS (A.3 + 19) 56,204 73,149 B) Discontinued operations A.5) Change in equity recognised in surplus for the year (A.4+20) Note 8 56,204 73,149 C) Income and expense recognised directly in equity 1. Available-for-sale financial assets (2) 1 3. Grants received Note 4 i) 7,203 10,741 4. Donations and bequests received Note 4 i) 1,293 2,010 C.1) Change in equity due to income and expense recognised directly in equity (1+2+3+4+5+6) 8,494 12,752 D) Reclassifications to surplus for the year 3. Grants received Note 4 i) (7,203) (10,741) 4. Donations and bequests received Note 4 i) (1,293) (2,010) D.1) Change in equity due to reclassifications to surplus for the year (8,496) (12,751) (1+2+3+4+5) E) Change in equity due to income and expense taken directly to equity (2) 1 (C1+D1) F) Adjustments due to changes in accounting criteria - - G) Adjustments due to errors - - H) Changes in the founding capital or welfare fund - - I) Other changes - - J) TOTAL PROFIT/(LOSS), CHANGE IN EQUITY IN THE YEAR 56,202 73,150 (A5+E+F+G+H+I) The accompanying Notes 1 to 18 and Appendices 1 and 2 are an integral part of the income statement for the year ended 31 December 2018. (*) Presented for comparison purposes only. 4 CAIXA D’ESTALVIS I PENSIONS DE BARCELONA, ”la Caixa”, BANKING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 (1) ACTIVITY OF ”LA CAIXA” BANKING FOUNDATION . Corporate information The Caixa d’Estalvis i Pensions de Barcelona, ”la Caixa”, Banking Foundation (hereinafter, the Foundation or “la Caixa” Banking Foundation) is a non-profit banking foundation, the assets of which are permanently tied to the fulfilment purposes of general interest that are detailed in its bylaws and as a result of the transformation of Caixa d’Estalvis i Pensions de Barcelona into a banking foundation. ”la Caixa” Banking Foundation with tax identification number (NIF) is G58899998, with registered office to Plaza Weyler, 3 (Palma de Mallorca). On 16 June 2014, Caixa d’Estalvis i Pensions de Barcelona, ”la Caixa” was effectively transformed into a banking foundation, in accordance with the provisions of Law 26/2013, of 27 December, on savings banks and banking foundations, and registered in the Ministry of Justice Foundations Registry under number 1658. The General Assembly of Caixa d’Estalvis i Pensions de Barcelona, ”la Caixa” also agreed to: a) the spin-off, which took effect in October 2014, in favour of Criteria Caixa, S.A.U. (wholly owned by “la Caixa” Banking Foundation), of the assets and liabilities not subject to the Welfare Fund (including the ownership interest in CaixaBank), whereby “la Caixa” Banking Foundation would hold its ownership interest in CaixaBank indirectly through Criteria, and b) the dissolution and liquidation of the former Caixa d’Estalvis i Pensions de Barcelona Foundation and the contribution of its assets to “la Caixa” Banking Foundation.