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CONSOLIDATED FINANCIAL REPORT | EXPLANATORY NOTES
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13. TRADE AND OTHER PAYABLES
These are detailed as follows:
At 31 December 2015, the line-by-line consolidation of Oman Cables Industry (SAOG) has resulted in the
recording of Euro 40 million in trade payables and Euro 1 million in other payables.
Trade payables include around Euro 162 million (Euro 176 million at 31 December 2014) for the supply of
strategic metals (copper, aluminium and lead), whose payment terms, in some cases, are longer than normal
for this type of transaction.
Advances from customers report the liability for construction contracts, amounting to Euro 452 million at 31
December 2015 compared with Euro 286 million at 31 December 2014. This liability represents the gross
amount by which work invoiced exceeds costs incurred plus accumulated profits (or losses) recognised using
the percentage of completion method.
The following table breaks down trade and other payables according to the currency in which they are
expressed: