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Saba - Annual Report 2023

Informe Anual 2023

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Overview by the President

Overview by the CEO

Company information

Sustainable urban mobility

ESG: Sustainability

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Overview by the
President

Salvador Alemany


Once again, the global geopolitical situation faces a complex network of tensions as a result of the tragic military conflicts in Ukraine and the Middle East, with a potential negative impact on most businesses and, above all, a serious humanitarian cost that requires a coordinated response at the international level. From the perspective of social responsibility, Saba continues to provide aid in humanitarian corridors in countries in which we operate, such as Slovakia, or to provide emergency plans for the evacuation of children, care and assistance, through non-governmental organisations with which the Group regularly collaborates.

But in this dark scenario, some lights emerge and, certainly, in the last part of 2023 we witnessed stability in the price of energy and a certain containment of inflation, thanks to the restrictive policies which have so marked the monetary policy of the central banks.

We hope that in 2024 greater growth in our business and salient figures will be achieved, thanks to this containment and probable reductions in interest rates. And as usual, we will be attentive to all monetary and fiscal policies, the adjustment and stability measures that are adopted and constantly supervise the financial and non-financial impacts.

After several years marked by the health crisis and mobility restrictions, the recovery of parking activity was consolidated

Saba ended 2023 with a total of 27 new operations and 43 renewed or renegotiated contracts representing more than 51,000 parking spaces



Already in the 2023 Overview, I wish to confirm that, after several years marked by the health crisis and mobility restrictions, the recovery of the car park business has been consolidated, allowing the reestablishment of levels seen prior to the pandemic. For its part, the Group's figures, both in terms of operating income and EBITDA, have exceeded those of 2019 for the first time since the beginning of the health crisis. In this sense, Saba's revenues amounted to 308 million euros with an EBITDA of 143 million euros.

As well as the measures for optimisation, operational efficiency, energy efficiency and expense management, there are those that allowed the company to position itself as a benchmark in the sector. And in this respect, the key driver was the sales activity. Without a doubt, this is the mainstay, now and in the future, for the consolidation of recovery. And this is achieved with the adaptation and renewal of the marketing channels (digitalisation of the business, web and App) and products, taking into account changes in habits after the pandemic such as teleworking.

The Group continues its commitment to a model based on the efficient management of operations and technological innovation, together with the active management of contracts, focusing on growth.

In this regard, we have maintained selective growth as one of the company’s vectors, seeking new market opportunities and promoting longer average contractual terms for the portfolio. Saba ended 2023 with a total of 27 new operations and 43 renewed or renegotiated contracts representing more than 51,000 parking spaces. At the close of 2023, Saba was present in 183 cities in 9 countries (Spain, the United Kingdom, Italy, Portugal, Chile, Germany, Slovakia, the Czech Republic and Andorra) managing 356,000 parking spaces in 1,079 car parks. It has over 2,100 people on its payroll.

Among the most notable operations was the launch, in the United Kingdom, of a five-year contract for the management of the car parks at Transport for London stations, the local body responsible for most of the London transport network, including the Underground, buses, taxis, trams and some train lines. The contract includes the management of 79 car parks throughout the network, with 10,567 parking spaces, all of them with a barrierless system, which makes vehicle entrances and exits more agile.

In addition to this operation, Saba signed different new hospital car park management contracts in the United Kingdom in 2023, such as those of Torbay and South Devon DHS Foundation Trust (2,453 parking spaces) or that of Great Western Hospitals NHS Foundation Trust (2,000 parking spaces ), as well as the renewal of the West Hertfordshire Teaching Hospitals NHS Trust contract (3,839 parking spaces).

In Italy, the most relevant event in 2023 was the awarding of the concession contract for the car parks that serve the Valley of the Temples of Agrigento (Sicily), an archaeological complex and UNESCO World Heritage Site that receives more than a million visitors a year. The car park has 861 parking spaces in a unique location that offers the possibility of visiting some of the best preserved Greek temples outside of Greece.

For its part, in Saba Germany was awarded the rental contract for the LIO shopping mall car park in Berlin, with 308 parking spaces. Saba cooperates with the centre's owner, Principle, in other locations such as Düren, Hamburg and Aschaffenburg. In Berlin, the company has a contract with the Vivantes Hospital group, with more than 1,200 parking spaces, a contract that was renewed in 2023.

We continue to be active in the process of requesting rebalancing of the concessions in order to correct for the impact of Covid‑19, bearing in mind that Saba continued to provide services throughout the pandemic, despite drastic traffic restrictions, since they were deemed to be essential.

The Saba group directs all its actions to becoming consolidated as a benchmark operator and reinforcing the image of car parks as hubs for sustainable urban mobility, for people, companies and merchandise, authentic essential components for regulating road congestion and as an intermodal node of the urban mobility network. It was recognised by the Ministry for the Ecological Transition and the Demographic Challenge (MITECO) in the Guidelines for the creation of low emission zones (ZBE).

We continue to carry out our activity within the framework of the Sustainable Development Goals (SDGs) of the United Nations

If we say that car parks are not part of the problems generated by traffic in cities, but are part of the solution, we are referring to strategic locations in urban centres, with capillarity throughout the city and uninterrupted service in order to work as an agent integrated in policy and in the chain of people mobility (carsharing, electric vehicles) as well as goods (the last mile).

In the area of the last mile, parking must respond to the new needs derived from e-commerce and micro-distribution, facilitating the creation of proximity minihubs within the car parks, which enable a sustainable distribution with active personal micromobility, with night-time logistics entering the city.

And we also facilitate the collection of purchases at smart lockers located in the car parks and with 24/7 access. Currently we already have a network of more than 224 lockers from different operators throughout the Group, with agreements with the main firms in the sector: Pudo, Amazon, InPost or Aliexpress, among others.

In 2023, the commitment to equal opportunities such as diversity and inclusion was reinforced, with a focus on the Equality Plan in Spain

With all of this, we avoid the current congestion caused by delivery vans and facilitate a more rational, efficient and safe distribution. The current urban distribution model of e-commerce, which registers very high and continued growth, and even more so after the pandemic, is unsustainable due to its impact on road congestion and the environment.

We maintain the performance of our activity within the framework of the United Nations Sustainable Development Goals (SDGs), reiterating our commitment to the territory and focused on compliance with ESG (environmental, social and governance) criteria. Since 2018, we have had an audited Non-Financial Information Statement that you can consult on the corporate website, www.sabagroup.com, and in which, in general terms, the social, environmental and ethical impact of our organisation is reported, thus providing a transparent and more comprehensive vision of our company.

For example, in terms of the environment, we keep up the fight against climate change as part of our business strategy, with the promotion of initiatives that contribute to advancing the ecological transition and towards a low-carbon economy. For example, we have managed, once again, to reduce global emissions in 2023 by 8% compared to the previous year.

In the social sphere, I would like to highlight that in 2023 Saba communicated to all of its personnel the management's commitment to equal opportunities, as well as diversity and inclusion, with a focus in 2023 on the preparation of the Equality in Spain plan. In terms of social action, all the commitments have been maintained and even increased, aimed at the protection of disadvantaged groups, and hospital projects linked mainly to children.

Regarding corporate governance, in 2023 the review of the Crime Manual has continued in all countries, as well as training in this area. Similarly, the Board of Directors approved the Management Policy for the internal information system and complaints received and the Saba Infraestructuras Ethical Channel was modified to reflect the adaptation of the complaints channel to the new regulations.

To conclude this overview, I would like to express my sincere gratitude, on behalf of the Board of Directors and on my own behalf, for the solid commitment demonstrated by all the people in the different countries that make up our organisation. We have experience in facing challenges of considerable complexity and, in the face of these, the response has always been dedication, the spirit of resilience and the ability to overcome. With determination, we have strengthened the company's structure and have provided our business with the necessary tools to consolidate the company as an international benchmark. A joint initiative that will allow us to grow and maintain this outstanding position in the sector.

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