In 2020, as a result of the impact of the COVID-19 pandemic, Saba’s comparable short stay activity fell by 47% from 2019, while the number of subscribers was 15% lower than in the previous year.
As regards the main figures for the 2020 financial year, and despite the negative impact of the health crisis, operating income totalled 198 million euros, 34% less than 2020, and EBITDA was 72 million euros, 48% lower. Saba invested 31 million euros in the 2020 financial year, of which 15 million were for expansion projects. The 7.5 million euros for acquisition of the “Gran Bulevar” car park in Oviedo stand out.
Although Saba’s main figures were clearly affected by the health crisis, the company has continued its efforts to increase the operational efficiency of the business, to implement initiatives that enable Saba to become a benchmark in the sector, with particular focus on new support systems, new technologies and energy efficiency, in addition to new commercial formulas and initiatives, and on conducting active contract management, focusing on growth. In closing agreements, insistence continues in commercial initiatives in the field of new mobility uses and habits (sharing, urban distribution, micro-distribution and electric charging, among others).
The Group’s evolution in the short and medium term is conditioned by the macroeconomic context of each country it operates in, together with local factors whose incidence is not uniform. To be added to these variables, as a factor which occurred in 2020, is the global pandemic caused by COVID-19. Saba, is constantly monitoring the situation and the possible impacts, both financial and non-financial, that the health crisis is causing in this regard.
Similarly, Saba will continue with its measures for optimisation and management of expenditure. The adaptation of sales channels, with special emphasis in the digital area, and products to meet current needs, especially those aimed at meeting new needs in the pandemic, confirms a line of work aimed at continual improvement that should translate to greater profitability. The traditional policies of selective growth, based on profitability criteria and economic and legal certainty, as well as actions aimed at efficiently managing operations and technological innovation, continue to be Saba’s principal lines of action.
The Group’s evolution is conditioned by the macroeconomic context of each country it operates in, together with local factors whose incidence is not uniform
The Group’s financial structure seeks to limit the risks arising from the current uncertainty caused by the pandemic. Throughout 2020, the company continued to work to ensure it has the tools and flexibility needed to continue with its objective of growth and diversification. The effort made in the financial field, with comprehensive control of liquidity and debt, which remain stable despite the exceptional situation, and the prolongation of the existing financing of its car parks in Europe (Club Deal), should therefore be highlighted.
Saba’s total assets at 31 December 2020 came to 1,502 million euros. The company’s consolidated net equity at 31 December 2020 amounted to 347 million euros, while gross debt (accounting financial debt without derivative liability) stood at 699 million euros, with net financial debt at 616 million euros.