62
2013
Annual Report
KPMG Auditores S.L.
Gran Vía, 17
48001 Bilbao
KPMG Auditores S.L., a limited liability Spanish company, is an affiliate
of KPMG Europe LLP and a member firm of the KPMG network of
independent member firms affiliated with KPMG International, a Swiss
cooperative.
Reg. Mer Madrid, T. 11.961, F. 90,
Sec. 8, H. M -188.007, Inscrip. 9
N.I.F. B-78510153
Independent Auditors’ Report on the Annual Accounts
(Translation from the original in Spanish. In the event of discrepancy,
the Spanish-language version prevails)
To the Shareholders of
Euskaltel, S.A.
We have audited the annual accounts of Euskaltel, S.A. (“the Company”), which comprise the
balance sheet at 31 December 2013, the income statement, statement of changes in equity and
statement of cash flows for the year then ended, and notes. The Directors are responsible for the
preparation of these annual accounts in accordance with the financial reporting framework applicable
to the entity (specified in note 2.1 to the accompanying annual accounts) and, in particular, with the
accounting principles and criteria set forth therein. Our responsibility is to express an opinion on
these annual accounts taken as a whole, based on our audit. We conducted our audit in accordance
with prevailing legislation regulating the audit of accounts in Spain, which requires examining, on a
test basis, evidence supporting the amounts and disclosures in the annual accounts and evaluating
whether their overall presentation, the accounting principles and criteria used and the accounting
estimates made comply with the applicable financial reporting framework.
In our opinion, the accompanying annual accounts for 2013 present fairly, in all material respects,
the equity and financial position of Euskaltel, S.A. at 31 December 2013, its financial performance
and its cash flows for the year then ended in accordance with the applicable financial reporting
framework and, in particular, with the accounting principles and criteria set forth therein.
The accompanying directors’ report for 2013 contains such explanations as the Directors consider
relevant to the situation of Euskaltel, S.A., its business performance and other matters, and is not an
integral part of the annual accounts. We have verified that the accounting information contained
therein is consistent with that disclosed in the annual accounts for 2013. Our work as auditors is
limited to the verification of the directors’ report within the scope described in this paragraph and
does not include a review of information other than that obtained from the accounting records of the
Company.
KPMG Auditores, S.L.
(Signed on original in Spanish)
Enrique Asla
28 April 2014
