Business risk management
The Group has established a risk management policy based on a methodology of identifying, analysing and evaluating the various business risks. Risk is understood as an event that could negatively impact on the fulfillment of the company's strategic objectives. The combination of all risks is categorized according to various previously defined types, establishing in turn a degree of prioritization, management mechanisms and action plans aimed at reducing the various risks to an acceptable level.
Below are the main business risks which have been identified:
Mobility ecosystem: Identification and execution of Saba's role in the current mobility ecosystem. Changes in the Administration and the urban policy in cities (new urban areas, restriction of traffic in central areas, etc.) as well as changes in the mobility and travel habits of people (new alternative transport services, electric cars or car-sharing, among other things).
Maturity of the contracts: Risks derived from the age of the concessions and contracts in the portfolio and the degree to which they can be substituted for new business opportunities that ensure growth.
Technological innovation: Development of proactive technological innovation in the medium and long term, aligned with the strategy and taking into account the requirements of all the Group's departments.
Definition, identification and customer management: Alignment of the company's products and value proposition with the needs of customers in all countries, ensuring the desired quality levels.
Competition: Work to ensure the sustainability of the business taking into account the existing substitute products of competitors (car parks).