- Operating income stood at 223 million euros (+5%), while EBITDA totalled 106 million euros (+6%). In terms of pro-forma data, and taking the new countries into account, income amounted to 293 million euros (+31%) and EBITDA to 122 million euros (+15%)
Today, Saba Infraestructuras (Saba) held its Shareholders’ Ordinary General Meeting, during which it assessed the 2018 financial year, which was marked by an expansion operation that culminated in December 2018 and virtually doubled the company’s structure through the addition of new assets in the United Kingdom, Germany, Slovakia and the Czech Republic. The acquisition of these assets has strengthened Saba’s commitment to growth and geographical diversification, as it now manages 384,500 parking spaces in 1,200 car parks across nine European and Latin American countries. In the same financial year, a shareholder transaction resulted in CriteriaCaixa controlling 99.5% of Saba’s share capital.
The company’s car park business continued to gather pace in 2018, with overall growth of 4% in comparable terms, equivalent to a total of 84 million billable hours. This reveals an upward trend that has now last for four consecutive years. In 2018, Saba’s performance in Portugal (+9%), Italy (+5%) and Spain (+3%) was particularly positive, with significant increases. The number of subscribers compared to 2017 was also significant; this number increased by 4% to around 46,000 subscribers.
With respect to Saba’s key economic figures for 2018, without taking the new countries into account, its ordinary operating income stood at 223 million euros, 5% more than the previous year, while EBITDA reached 106 million euros, 6% more than in 2017. In terms of pro-forma data for 2018, and including new countries, Saba’s operating income amounted to 293 million euros (+31%) and EBITDA to 122 million euros (+15%). Profitability, in terms of the EBITDA margin, was 48%, the highest of the companies in the sector. If its presence in new countries is taken into account, the margin stood at 41.5%, which is still the highest in the sector. In 2018, Saba invested 250 million euros, of which 230 million (93%) were used for expansion.
As far as Saba’s management magnitudes are concerned, during the first trimester of 2019 and taking into account the new countries, operational income reaches up to 70 million euros, 35% more than in 2018, and 4% without taking into account the new countries. EBITDA reaches 28 million euros, with 18% increase regarding the same period of time the previous year, and 5% without taking into account the new expansion project.