- Salient figures 2016: Operating income reached €205 million (+7%) and EBITDA stood at €94 million (+10%)
Saba today held its Ordinary General Shareholders Meeting. The company ended 2016 with a 9% overall increase in its car park operations, which represents a total of 79 million hours invoiced. This accounts for a 5% like-for-like (without taking growth into account) increase. For the first time since 2008, the company has posted two positive yearly results. Of note on this same subject is the improvement in the number of subscribers compared to 2015, with a 14% increase to 43,000 subscribers, 4% like-to-like. During the January-April 2017 period, business is going well and figures that demonstrate the sector’s recovery: The turnover of the whole Group has increased by 6%, 3% like-to-like, to 26 million invoiced hours, with a total of 43,600 subscribers at the end of April.
Saba completed its divestment in logistics parks operations in October 2016. Between 2011 and 2016, Saba carried out four successive divestment operations, which totalled €300 million in shareholder’s equity, thus maximising the value of this business line and facilitating key operations, and also boosting Saba’s capacity in the car parking business. Saba’s President, Salvador Alemany, explained that "This process of transformation has not only allowed us to fund remarkable growth in the management of car parks with the aim of achieving prime international positioning, but it has also given us the necessary flows to overcome the last years of the consumer crisis that affected occupancy in the car parking sector".
Saba's CEO, Josep Martínez Vila, emphasized that, after closing this phase, Saba “will continue analysing all the opportunities for growth that emerge, always from an industrial and strategic perspective. We strive,” he added, “for geographic diversification and volume in order to be more competitive”. The internal transformation achieved since 2011, together with the increase in scope and the financial structure optimisation, such as the refinancing deal that Saba has recently arranged, “leave the company in a position to focus on new growth operations”, stated Josep Martínez Vila.