Page 121 - Restamax Plc Annual Report 2017

32 OTHER LEASE AGREEMENTS

The Group has leased many of the restaurant and office premises that it uses. The lease terms are on average between
two to fifteen years, and often include the option of continuing the agreement past the original termination date. The
lease agreements often have a fixed lease with an index condition or are turnover-based. Some of the lease agreements
are valid until further notice, with a notice period of 2 months.

Minimum lease payments to be made based on other rental agreements that cannot be annulled:
EUR thousand 2017 2016
In one year 15,987.8 13,271.1
In over one year and within five years maximum 41,559.9 32,893.9
In over five years 15,709.4 14,016.6
Total 73,257.1 60,181.6

In 2017, lease expenses of TEUR 15,951.0 (TEUR 14,002.6 in 2016) paid based on lease agreements were recorded through
profit or loss.

The Group has sublet 15 restaurant premises. Lease expenses of TEUR 699.3 in 2017 (TEUR 945.4 in 2016) were recorded
for these premises. Based on the sublease agreements, the future minimum lease payments will amount to TEUR
1,334.1 at the end of 2017 (TEUR 1,699.4 at the end of 2016).

The Group as a lessor
Minimum deferred lease payments to be made based on other rental agreements that cannot be annulled:

EUR thousand 2017 2016
In one year 678.8 990.6
In over one year and within five years maximum 1,022.5 1,516.7
In over five years 138.2 38.6
Total 1,839.5 2,546.0

CONSOLIDATED FINANCIAL STATEMENTS 121