1. Which kind of documents does the company publish?

Which of them are voluntary and

which have mandatory character? Which of them include accounting information?
Gas Natural publishes financial and annual reports. Within the audit report we can find the
audit report. This audit report is represented through some documents that explain how
the financial situation of the company is.
First of all we see the consolidated balance sheet which can be defined as a summary of all
assets, capital and debts of an organization within a period of time (it uses to be 1 year), in
other words, it is like a photograph of the wealth of the company.
Following the balance sheet, we find the profit and losses account. It represents a
summary of all revenues and expenses of a company during 1 year. P&L account together
with the balance sheet form the most important part of the annual report.
Next we find the changes in consolidated equity. It reflects the movements of the equity
during the exercise. It is composed by two parts: The first one is known as state of known
revenues and expenses and will only show the revenues and expenses generated by the
companys activity within a year. The second part is known as final state of changes in net
equity and will reflect all movements of the equity. So, we can say that changes in
consolidated equity details two essential aspects: the global result and the business
guarantee within 3 economic exercises.
In the fourth place there is the cash flow statement. It represents the inputs or outputs of
cash within a period of time. It is the net accumulation of liquid assets in a period of time
and so, it constitutes and important indicator of the liquidity of the company.
And finally the explanatory notes is a document where the achievements, facts and
objectives are highly detailed for the shareholders.
We have to say that all these documents are mandatory financial statements for the firm.
3. What is the main activity of your company, to which sector does it belong? Which
other activities does the company have?
The main activity of the firm is to supply the consumer with their energy needs through
environmental-friendly services and products. This activity is related to the third sector,
that provides services.
It also offers its shareholders a growing return for their contributions and gives the
employees the chance of developing their professional skills.

5. Situation of Real Estate in the company? How much is the value of real estate in relation
to the total value of assets? (balance sheet). Which kind of real estate does the company
have?
Real Estate pertains to the non-current assets of the company. It is divided in two parts:
Investment property, which is acquired by the company and it is rented for others; and
property and equipment , which is obtained by the company for its own use.
Plant and other Property, Plant and equipment includes finance leases for the power islands at
the Palos de la Frontera and Sagunto combined cycle plants, acquired under finance leases. In
2013 Property, Plant and equipment has been acquired from a group companies and
associates totalling Euros 5 million, representing 3 fewer millions than the previous year.
Property, plant and equipment includes fully depreciated assets still in use at 31 December
2013 totalling Euros.
Having a look to the non-current assets, we can see that the majority of the value of the
property,plant and equipment is an important factor to take into account within this part of
the balance sheet. It represent almost the 25% of the non-current assets.
7. Analyse the variation produced in the equity and in the Legal Reserve from the year
2012 to 2013. Are there any other types of reserves?
Looking at the equity of the firm and comparing years 2013 and 2012, we can clearly see that
the net equity has increased in more than a thousand million Euros.
The legal reserve must contain, by law, the 10% of the profits until it represents at least the
20% of the share capital. The legal reserve can be used to increase capital in the part that
exceeds 10% of the capital increased. As long as it does not exceed 20% of the share capital,
the legal reserve can only be used to offset losses in the event of no other reserves being
available. Legal reserve from year 2012 to 2013 has increased in 2 million Euros and this is
because, obviously, the profit of the year is larger than the year before.
Apart from the legal reserve, we find some other reserves that are also important:
The statutory reserve must allocate the 2% of the net profit until it reaches at least 10% of the
share capital.
The revaluation reserve can be used to offset accounting losses, increase share capital, or can
be allocated to freely distributable reserves, provided that that the monetary gain has been
realized. The part of the gain that will be considered realized is the part relating to the
amortization recorded or when the revaluated assets have been transferred or written off the
books of account.
The goodwill reserve, where the Company must appropriate a non-distributable reserve
equivalent to the goodwill carried on the balance sheet asset, allocating annually an amount
that represents at least 5% of goodwill. If there are no profits, or the profits are insufficient, to
do so, the Share Premium or Freely Available Reserves can be used.
The voluntary and other reserves only obtain the undistributed profits.

9. How many employees does the company have? How much is the staff cost for the
company?
In 2013 the number of employees has been 2.786 and in contrast with the previous year 2012,
the number of employees within the company has increased (2.663 employees in 2012).
We can distinguish different parts in the salaries. We find that there are 539 executives, 396
are men and 143 are women; there are 480 middle managers, 389 men and 91 women; and
982 workers where we can see there are 665 men and 317 women.
Analyzing the result in the income statement, we can determine that the cost of the personnel
has decreased from 871 million Euros to 861 million Euros.