O p e r a t i v e & F i n a n c i a l R e s u l t s : F o u r t h Q u a r t e r 2 0 1 3

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Grupo Posadas, S.A.B. de C.V. & SubsidiariesMexico City, February 27, 2014

Datos presentados con repecto al mismo trimestre del año anterior en NIIF (IFRS):

•System-wideRevPARincreased5.9%in2013and6.3%inthefourthquarter•Pipelineconsiders41morehotelsand29%moreroomsforthenext24months•Posadassolditsnon-strategic-assetholdingsubsidiaryforPs.$680million(US$52million)•Our2014profitandlossstatementrecordedasignificantnetlossmainlyduetotheeliminationoftheconsolidationregimeandrealestatecorporations(SIBRAS)•CashavailableasofDecember31,2013of$1.2billion(US$94million)•PosadasissuesanadditionalUS$35millionofitsSeniorNotesdue2017

ForadditionalInformation: Gerardo de PrevoisinTel.:(5255)5326-6757gerardo.deprevoisin@posadas.com

Millionpesosasof Var.Var. December31st,2013 4Q13 % YY% 2013 %YY%TotalRevenues2,000.8100.035.58,550.4100.039.3 EBIT (799.0)(39.9) na (41.6)(0.5)naEBITDA 213.810.7(26.5) 1,273.314.920.8 NetResult (2,074.5)(103.7)na (1,753.3)(20.5)na

EBITDA of $234 million -excluding extraordinary

chargesof$20million-duringthefourthquarterof

2013comparesfavorablywith4Q12of$205million

proformarepresentinga14%increase.

During the 4Q13 System-wide hotel performance

continuedimprovingoverthefourthquarterof2013.

OurAvailableDailyRate(ADR) increased6.1%,oc-

cupancyincreasedslightly0.1percentpoints(“pp”),

which resulted in a Revenue Per Available Room

(RevPAR)growthof6.3%thatrepresentsacontin-

ued improvinggrowth trendonamonthbymonth

basisforthelast25consecutivemonths.

Urbanhotels,whichrepresent79%ofthetotalrooms

operated,continuetoperformbetterwithan

increaseinRevPARof4.1%.Ontheotherhand,our

coastalhotelshadanevenbetterperformancewitha

RevPARincreaseof19.2%.Theseoperationalresults

arealsoduetotheadditionalnumberofinternational

touriststhatarereturningtoourcoastalhotels,prin-

cipally in Cancun.

For the secondyear in a row,Global Traveler (GT)

awarded the FiestaAmericanahotels for being the

bestHotelchaininMexico.TheGTawardsarewell

recognizedbytheindustryastheresultsaredeter-

minedbythousandsoftouriststhroughglobalinqui-

ries.Withthisaward,FiestaAmericanastrengthens

itselfasoneofthebestbrandsinthehotelbusiness.

> FinancialHighlights

“Wehadanothergoodquartermainlydrivenbyagoodperformanceofourhotelssystem-widewithastrongRevPARgrowth.WehadnegativeextraordinaryeventsthatdiminishedthenetresultoftheCompany.Forthefirstquarterof2014weplantoopeneighthotels,theFiestaInnMeridaandsevenOneHotels(AlamedainMexicoCity,LaPaz,CancunCen-tro,Queretaro,Silao,Villahermosa,GuadalajaraPeriferico&Vallarta)”saidJoseCarlosAzcarraga,Posadas’CEO.

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With respect to the total investment required for

theVacationClubprojects:OnOctober18,2013,

theCompanyacquiredthelandinNuevoVallarta,

Nayarit for a total consideration of US$12.7mil-

lionandonNovember29,2013acquiredtheland

in AcapulcoDiamante for a total consideration of

US$9.9million.Bothprojectscouldincreasemore

thana50%theVacationClubroominventory.

On December 31st, 2013, Posadas sold the total-

ityofthesharesofitsnon-strategic-assetholding

subsidiarythat,amongotherassetsholdstheland

atChemuyil,whichtheCompanyacquired15years

ago.Thetransactionwasforatotalconsiderationof

$680million(US$52million).

The saleof this subsidiary ispartof the strategy

undertakenby theCompany to reorganize itsas-

setsandbusinessunits,focusingonthehotelbusi-

ness. It also strengthens its investment strategy

towardsthechallengesof2014.Afterthistransac-

tion,theCompanyhassoldthevastmajorityofits

non-strategicassets.

Thissalewasdonetoaninvestmentvehiclewhere

GBM (Grupo Bursatil Mexicano) is involved. The

proceedsfromthistransactionwillbeusedforthe

repayment of Senior Indebtedness or the invest-

mentinoracquisitionofassetsrelatedtoaPermit-

ted Business.

Our2014profitandlossstatementrecordedanet

lossof$1,753.3millionduetoextraordinaryevents

thatfromourpointofviewdonotaffectourcash

generation and our cash on hand is sufficient to

meetourfutureneeds.Asaresultofthesaleofour

subsidiary that owned non-strategic assets (Anti-

guaInmobiliariaHotelera,S.A.deC.V.)andthere-

furbishingof theFiestaAmericanaVillasCozumel

$894.8millionassetimpairmentwasrecorded.The

landofChemuyilwasbookedasaprojectandnot

aslandandtherefurbishingoftheCozumelhotel

implied towrite off the residual value of this as-

set.EBITDAof$213.8and$1,273.3millionforthe

4Q13andLTM,respectively,werenotaffectedby

thesecharges.

With respect to the sale of the hotel business in

SouthAmerica lastyear, certainnon-materialad-

justments to the purchase price have been made.

TheremainingescrowmaybereleasedinOctober

2014.

WithrespecttothetaxreformthatenactedonJan-

uary1st,2014,werecognizedaninternalrevenues

servicetaxof$882.3millionduetotheelimination

oftheconsolidationregimeandrealestatecorpora-

tions(SIBRAS)payabletaxof$1,297.4million.The

deferred taxesmust be paid in the following five

yearsstartingin2014.

On February 20, 2014 Posadas issued an additional

US$35.0 million principal amount of its 7.875%

Senior Notes due 2017. The additional 2017 notes

wereissuedinconnectionwithaprivateexchange

forUS$31.6millionprincipalamountoftheCompa-

ny’s9.250%SeniorNotesdue2015.Theaddition-

al2017notesconstituteafurtherissuanceofour

outstanding 2017 notes with identical terms, for

atotalaggregateoutstandingprincipalamountof

US$310.0millionofthe2017notes.Asaresultof

thecancellationofthe2015notesexchanged,the

remainingaggregateoutstandingprincipalamount

ofthe2015notesisUS$51.7million.

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Arrendados

Administrados

Propios

TotalinvestmentUS$423M Roomdistributionbytypeofcontract

HotelopeningsLTMNo.ofRooms Type

OneQuéretaroAeropuerto 126 ManagedOneOaxacaCentro 109 ManagedFITolucaAeropuerto 150 ManagedFIChetumal 131 ManagedOneGuadalajaraTapatío 126 ManagedOneSalinaCruz 126 ManagedOneIrapuato 126 Managed

Total 894

0%

100%

100%

Brands México Total % HotelsRooms%

LiveAqua 1 46 1FiestaAmericanaGrand 2 345 6 FiestaAmericana 4 886 16 FiestaInn 11 1,455 25 Onehoteles 23 2,852 51 TOTAl 41 5,584100

> Development

AsofDecember31st,2013ourpipelineiscomprisedofexecutedagreementstooperate41newhotelswith

5,584rooms.Thisdevelopmentplanrepresentsanincreaseincapacityofapproximately29%with77%of

thesehotelsundertheeconomyandbusinessformats.

ThesehotelsrepresentatotalinvestmentofUS$423.2millionthatwillbeinvestedbythirdparties.Openings

areexpectedtobegininthefirstquarterof2014,andweexpectallofthesetobeoperatingbeforeDecember

2015accordingtocommitmentsmadewiththedifferentpropertyowners.

Owned

Managed

Owned

Third

parties

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Duringthequarter,revenuesfromthissegmentrepresented30%oftheconsolidatedrevenuesor44%of

revenuesexcluding thesaleofnon-strategicassets.TheEBITDAmarginwas17.9%representinga7.3pp

improvement over the 4Q12.

AhigherADR(AverageDailyRate)of13.0%andanincreaseof2.0ppinoccupancyresultedinaRevPARin-

creaseof16.3%.Theaveragenumberofroomsavailablewasreducedby30.3%asaresultofthehotelssold.

Results forurbanhotelsshowedan improvementwhencomparedwith4Q12;onaveragewith35.1%less

roomsowned,a10.6%increaseinADRandaslight increaseinoccupancyof1.2pp,RevPARimprovedby

12.6%.

Therewasnochangeintheaveragenumberofroomsavailableforcoastalhotels.Thissegmentshowedan

increaseinADRof10.5%andinoccupancyof5.4pp.AlloftheaboveresultedinaRevPARincreaseof19.3%

whencomparedwiththesameperiodoflastyear.Thiswasinpartduetothegoodperformanceinourhotels

inCancunthatrunundertheAllInclusiveformat.AsofJanuary2014theFAGLosCaboshotelisbeingoper-

atedunderthe“allinclusive”format.

>OwnedandLeasedHotels

Total Urban Coastal %Var.%Var.%Var.

4Q13 (TQQ) AverageRooms AverageDailyRate Occupancy (Var. in pp) RevPAR

Accum. AverageRooms AverageDailyRate

Occupancy (Var. in pp) RevPAR

5,3011,10570%772

5,6681,08368%738

(30.3)13.02.016.3

(26.8)10.31.112.2

(35.1)10.61.212.6

(29.9)7.5

(0.7)6.4

1,0251,38273%1,006

1,0251,38177%1,060

0.010.55.419.3

(7.8)10.69.426.0

4,2761,03569%716

4,6431,00766%667

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RevenuefortheManagementbusinessrepresented13%oftotalrevenueinthequarteror19%of

revenuesexcludingthesaleofnon-strategicassets.TheEBITDAmarginof32.7%representeda

10.7ppdecreaseversus4Q12.Thiseffectisdueinparttotheeliminationofintercompanyrevenues

fromtheownedandleasedhotelsinaccordancewithIFRS.

Theaveragenumberofroomsoperatedrecordeda2.1%increaseinthequarter,whileSystem-wide

hotelsreporteda6.1%improvementinADR,amarginal0.1ppincreaseinoccupancy,andaRevPAR

growthof6.3%.

System-wideurbanhotelshadanincreaseintheaveragenumberofoperatedroomsof3.3%withan

improvementinADRof5.0%,alongwitha0.6ppincreaseinoccupancytoachieveahigherRevPAR

by4.1%.

Coastalhotelsrecordeda5.1%decreaseintheaveragenumberofavailableroomsassinceOctober

1st,2013thecontracttocontinuemanagingahotelinMazatlanwasnotrenewed.Inaddition,ADR,

occupancyandRevParincreased10.5%,4.7ppand19.2%,respectively,asaresultoftheimproved

performanceofourAllInclusivehotelsinCancun.

TheCompanyopenedsevennewhotelsinthelasttwelvemonths.Thesehotelsrepresent894addi-

tionalrooms:OneQueretaroPlazaGalerias,OneOaxacaCentro,FiestaInnTolucaAeropuerto,Fiesta

InnChetumal,OneGuadalajaraTapatio,OneSalinaCruzandOneIrapuato.

Includesowned&leasedandmanagedhotels.

> Administración

Total Urban Coastal %Var. %Var. %Var.

4Q13 (QQ) AverageRooms AverageDailyRate Occupancy (Var. in pp) RevPAR

AcumuladoAverageRoomsAverageDailyRate Occupancy (Var. in pp) RevPAR

16,7881,04464%673

16,7321,04064%670

2.16.10.16.3

2.95.70.15.9

14,61896964%623

14,47596264%612

3.35.0(0.6)4.1

4.15.0(0.8)3.6

2,1701,53166%1,012

2,2581,49570%1,045

(5.1)10.74.719.2

(4.5)7.66.418.5

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> Vacation Club

TheVacationClubandOtherbusinesssegmentmainlyincludetheFiestaAmericanaVacationClub(FAVC).

Totalrevenuesforthequarteramountedto24%ofthegroup’sconsolidatedrevenuesin4Q13or37%ofrev-

enuesexcludingthesaleofnon-strategicassets.

Thetotalnumberofclientsincreased14%in2013toreach43,700intotal.KiVacachieved14,000clientswith

630,000roomnightssoldwithinPosadassystem.

IntheLTMtheavailableroomshasbeenincreasedby164withtheopeningofNimaBayinPuertoVallartaand

therecentopening-December31st,2013-ofthethirdphaseoftheFiestaAmericanaVacationVillasinLos

Caboswith148newkeys.

> EBITDA

In4Q13anEBITDAof$213.8millionwasrecorded,thatcomparesunfavorablywiththe$291.1millionrecord-

edin4Q12–afterexcludingthesaleof14hotelsandreservesfromtheVacationClubrecordedin4Q12-the

EBITDAproformaof$234millionin4Q13is14%higherthanthe$205millioncomparablefor4Q12.

Forthelasttwelvemonths,EBITDA(IFRS)was$1.273billion(US$97.4millionwithanendofperiodexchange

rateofMXN$13.0765perUSD),21%higherthan2012´sEBITDA.Afterexcludingtheeffectsoftheassetsales

andtheguarantypaymentonChemuyil,EBITDAwouldbe$843million(US$65million),3%higherthanthe

$822million(US$63million)EBITDAthatwouldcorrespondtothe4Q12LTM.

> Capital Expenditures

Capitalexpendituresduringthequarterwere$449.6million,16%wasusedformaintenanceofhotels,4%for

corporatepurposesandtheremaining80%forthevacationclubintherefurbishingofthehotelinCozumel

andtheconstructionofthelastphaseinLosCabos.

For2013,$1,154.2millionwereusedforcapitalexpenditures,34%forhotels,7%forcorporatepurposesand

58%fortheVacationClub.

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> Comprehensive Financial Cost

Concept 4Q13 4Q12 2013 2012 Interests earned Interests expense Fluctuationsloss(gain) Other expenses (products) Financial expenses Total

Figuresinthousandsofpesos.

> Net Result

Asaresultoftheaforementioned,netlossforthequarterwas$2,074.5million.For2013,theCompanyhas

recordeda$1,753.3millionnetloss.

(17,528)234,45453,47414,319134,639419,358

(8,399)100,62315,362 (270)11,701119,017

Attheendofthequarter,consideringtheeffectofIFRS,thenetcoverageratiowas4.5times,2.3

timeshigherthantheobservedinthesamequarterofthepreviousyear.

TheforeignexchangeunrealizedvariationunchangedastheMXNagainsttheUSDtradedsideways

attheendofthequarter.

AsofDecember31st,2013,theCompanyhasnoderivativecontractsinitsbooks.

(27,139)610,174(152,199)(80,613)173,847524,069

(59,304)393,65929,997(53,781)57,711368,282

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> Financial Position

AsofDecember31st,2013thecashbalancewas$1.231.7billion(US$94million).

Themainusesofcashduringthequarterwere,amongotheritems:capitalexpendituresincludingtheacquisi-

tionsofthelandinNuevoVallartaandAcapulcopreviouslymentionedandinterestspaid.

TotalDebtattheendofthequarterwas$4,557.6million(US$348million),netofissuanceexpenses,whileNet

Debt(IFRS)wasUS$254.3million,theNetDebttoEBITDAratiowas2.6timesunderIFRS,whichcompares

favorablyasthisratiowas3.4timesin4Q12.

TheTotalDebtmixunderIFRSattheclosingofthequarterwasasfollows:100%inlong-term,inU.S.dollars

andfixedrate.Theaveragedebtmaturitywas3.2yearsandtherewasnosecureddebt.

As of the release date of this report, the existing corporate ratings are: Moody’s: global scale “B2” and

stableoutlook.S&P:global“B”withstableoutlook.Fitch:globalIssuerDefaultRating(IDR)“B”andlocal

“BB+(mex)”,bothwithstableoutlook.

Theratingsforthe“9.25%SeniorNotesDue2015”and“7.875%SeniorNotesDue2017”were:Moody’s:

“B2”/S&P:”B”/Fitch:“B+RR3”.

Incompliancewitharticle4.033.02Frac.VIIIoftheMexicanStockExchangerules,PosadasinformsthatJ.P.

MorganSecuritiesLLC,analyst,JacobSteinfeldjacob.a.steinfeld@jpmorgan.com(1-212)834-4066andBank

ofAmericaMerrillLynch,analyst,RoyYackulicroy.yackulic@baml.com(1-646)855-6945providecoverageto

Grupo Posadas.

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>GrupoPosadasasofDecember31st,2013

PPosadasistheleadinghoteloperatorinMexicothatowns,leasesandmanages110hotelsand18,943roomsinthemostimportantandvisitedurbanandcoastaldestinationsinMexico(99%oftotalrooms)andownsonehotelintheUnitedStates(1%).79%ofroomsareinurbandestinationsand21%incoastal.Posadasoperatesunderthefollowingmainbrands:LiveAqua,FiestaAmericanaGrand,FiestaAmericanaTheExplorean,FiestaAmericanaVaca-tion Villas, Fiesta Inn and One Hotels. Its leadershiphasbeenrecognizedbyseveralentitiesandpublicationssuchas the“Aso-ciaciónInternacionaldeHoteles&Restaurantes”thatidentifyPosadasamongthe70mostimportanthoteloperatorsintheworld.PosadastradesintheMSEsince1992.Forfurtherinformationpleasevisitwww.posadas.com

Brand México USA Total Hotels Rooms Hotels Rooms Hotels Rooms

LiveAqua 2 506 2 506FiestaAmericana 16 4,616 16 4,616FiestaInn 60 8,676 60 8,676

FAVacationVillas 7 1,856 7 1,856

OneHotels 23 2,873 23 2,873Other 1 213 1 203 2 416 Total 10918,740 1 203 110 18,943% 99% 1% 100%

Leased 2,557rooms

Managed11,575rooms

Owned 4,811rooms

Distribution by rooms61%

25% 14%

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> Income Statement IFRS (millionofpesos)

Concept

Total RevenuesOwned&LeasedHotels

RevenuesDirect cost

Contribution

ManagementRevenuesDirect cost

Contribution

FA Vacation RevenuesDirect cost

Contribution

OtherRevenuesDirect cost

Contribution

Corporate expensesDepreciation/amortization

Asset impairmentOther expenses (revenue)

OperatingProfit

EBITDA

ComprehensivefinancingcostProfitBeforeTaxes&Assoc.Co.Part.inresultsofAssociatedCo.

ProfitBeforeTaxesDiscontinued Operations

Income taxesDeferredtaxes

NetIncomebeforeMinorityMinority Interest

Net Majority Income

4Q13

2,000.8

578.6475.0103.6

257.2173.0 84.1

488.0379.5108.5

677.0679.0(2.0)

70.8118.0894.89.6

(799.0)

213.8

119.0(918.0)(4.9)(922.9)150.6413.3 594.9

(2,081.7)

(7.2)(2,074.5)

%

100.0

100.0 82.117.9

100.0 67.332.7

100.0 77.822.2

100.0 100.3 (0.3)

9.93.55.944.7 0.5

(39.9)

10.7 (45.9)(0.2)(46.1)7.520.7 29.7

(104.0)(0.4)

(103.7)

20133

8,550.4

4,778.33,854.6923.6

1,319.0915.4403.6

1,776.01,410.0 366.1

677.0679.0(2.0)

247.2 420.1 894.8170.9(41.6)

1,273.3

368.3(409.9)(4.9)

(414.7)181.2541.9620.0

(1,757.8)(4.5)

(1,753.3)

%

100.0

100.0 80.719.3

100.0 69.430.6

100.0 79.420.6

100.0 100.3 (0.3)

2.94.910.52.0 (0.5)

14.9

4.3 (4.8)(0.1)(4.9)2.1 6.37.3

(20.6)(0.1)(20.5)

Var.%%39.3

57.949.3107.6

(5.6)(10.0)6.5

3.514.2

(24.1)

nanana

(0.0)(2.7)na

2,911.0na

20.8

(29.7)na

129.5nanana(7.9)

nanana

4Q12

1,476.7

766.0685.081.0

383.0216.8166.2

327.8256.970.8

0.0 0.0 0.0 81.3106.9 0.0(54.4)184.2

291.1

419.4(235.2)(3.8)(239.0)(1,811.7)54.3457.8

1,060.7(20.8)1,081.5

%

100.0

100.0 89.410.6

100.0 56.643.4

100.0 78.421.6

0.0 0.00.0 5.57.20.0

(3.7)12.5

19.7

28.4(15.9)(0.3)(16.2)(122.7)

3.7 31.0

71.8(1.4)73.2

Var.%

35.5

(24.5)(30.7)28.0

(32.9)(20.2)(49.4)

48.947.7 53.2

nanana

(12.8)10.4 nanana

(26.5)

(71.6)290.326.8286.1

na661.630.0

na(65.5)

na

%

100.0

100.0 85.314.7

100.0 72.927.1

100.0 71.928.1

100.0 0.00.0

4.0 7.0 0.00.1 10.1

17.2

8.51.6

(0.0)1.6(30.6)(0.9)11.0

22.1 0.2 21.9

2012

6,139.9

3,026.42,581.4445.0

1,396.71,017.7 379.0

1,716.81,234.2 482.6

0.0 0.0 0.0

247.2 431.50.05.7622.3

1,053.8

524.198.2(2.1)96.1

(1,876.0)(56.5)673.0

1,355.612.7

1,342.9

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>ConsolidatedBalanceSheetasofDecember31st,2013andDecember31st,2012-IFRS (million pesos)

Concept

ASSETSCurrent

Cash & short term investmentsNotes & accounts receivable

InventoriesOther assets

Total current assets

LongTermAccounts and notes receivable

Investments in shares Other investments

Property,plantandequipment,netIntangibleanddeferredassets

Non current assetsTotal AssetslIABIlITIES

CurrentSuppliers

Bank loansStock market loans

OtherOther current liabilities Total current liabilities

LongTermBank loans

Stock market loansOther liabilities

DeferredtaxliabilitiesandOther

Total liabilities

STOCKHOLDERS´EQUITYMajority interestMinority interest

Total

TotalLiabilities&Stockholders’Equity

Dec-13

1,231.7 2,250.6141.8157.23,781.3

1,910.635.4239.96,337.6 214.4 8,738.012,519.4

348.3 0.0 0.0 600.0808.11,756.4

0.0 4,555.1692.22,127.5

9,131.2

3,157.8 230.4 3,388.2

12,519.4

%

9.818.0 1.1 1.330.2

15.3 0.31.950.6 1.769.8100.0

2.8 0.0 0.04.86.514.0

0.036.45.517.0

72.9

25.21.827.1

100.0

Dec-12

1,480.01,735.5114.81,463.64,793.8

1,643.6 40.3 272.67,367.6130.59,454.614,248.4

381.4 103.3 900.02.61,481.52,868.7

185.23,872.9509.81,588.9

9,025.5

4,846.4376.55,222.9

14,248.4

%

10.412.20.810.333.6

11.5 0.31.951.70.966.4100.0

2.7 0.76.3 0.010.420.1

1.327.23.611.2

63.3

34.02.636.7

100.0

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>ConsolidatedCashFlowStatement-IFRS (millionpesosfromJanuary1st.toDecember31st,2013&2012)

Concept Concept

ConsolidatedNetIncomeBeforeTaxes+(-)Itemsnotrequiringcash+(-)Otherunrealizeditems

+(-)EntriesrelatedtoInvestments+Assetimpairment,Depreciationandamortizationfortheyear+(-)Gainorlossonsaleofproperty,plantandequipment+(-)Equityinresultsofassociatesandjointventures

(-)Interestincome+(-)Otheritems

+(-)Itemsrelatedtofinancingactivities+Accruedinterest

+(-)Currencyfluctuations+Derivatives

CashbeforetaxesCashflowprovidedorusedinoperation

+(-)Decrease(increase)inaccountsreceivable+(-)Decrease(increase)ininventories

+(-)Decrease(increase)inotheraccountsreceivablesandotherassets+(-)Increase(decrease)insuppliers

+(-)Increase(decrease)inotherliabilities+(-)Incometaxespaidorreturned

NetcashflowsfromoperationNetcashflowfrominvestingactivities

(-)Investmentinintangibles(-)Investmentinproperty,plantandequipment

+Businesssales(-)Interestsreceived+(-)Otheritems

NetcashfromfinancingactivitiesNetcashflows

+Bankfinancing+Stockmarketfinancing

+Otherfinancing,includesmargincalls(-)Bankandstockmarketfinancingamortization

(-)Otherfinancingamortization+(-)Increase(decrease)inequity

(-)Dividendspaid+Premiumonissuanceofshares

+Contributionforfuturecapitalincreases(-)Interestexpense

(-)Repurchaseofshares+(-)Otheritems

Netincrease(decrease)incashandcashequivalentsChanges

CashandcashequivalentsatthebeginingofperiodCashandcashequivalentsattheendofperiod

2013 2012

(414.7)

643.71,314.9(565.2)4.9

(110.9)

395.4393.723.8

(22.0)624.4(764.1)(326.8)8.6(94.2)(33.0)(49.6)(268.9)(139.6)1,164.8

(1,154.2)2,326.376.7(83.9)1,025.2

(1,273.4)835.5

(1,647.3)

6.5(117.1)132.0

(375.7)

(109.1)

(248.3)1.81,480.01,231.7

96.1

402.8431.50.5

(2.1)(27.1)

724.2 610.2(70.8)184.8

1,223.0 116.3

(141.7)9.356.2(74.5)312.7 (45.6)1,339.32,250.3

(157.6)2,401.814.9(8.8)3,589.7(2,520.3)1,737.3

662.6(4,124.5)(112.7)

(23.8)

(625.9) (0.3)(32.9)

1,069.4(11.8)422.51,480.0