IBERSOL | Annual Report 2020

ANNUAL REPORT 2020 In Portugal, Pans & Company reached the end of 2020 with 49 points of sale (42 Pans & Com- pany restaurants and 7 Cafe Pans kiosks) and a staff of 372. The financial year of 2020 was naturally marked by the Covid-19 pandemic and the impact of the governmental restrictions on our sector, from the second half of March onwards. The restrictions imposed on the population in general, and on the restaurant sector in particular, had a very serious and unprec- edented negative impact on the business volume and profitability of our restaurants. On the other hand, the need to develop a con- tingency plan to face up to the pandemic resulted in a revision of a significant number of opera- tional procedures, to ensure safe operations for both our clients and our staff. PORTUGAL In this regard, during 2020 our teams concentrated on strict control of cost structures, thor- ough compliance with imple- mented safety measures and in- creasing business volume in the different sales channels we are present in, with a focus on De- livery and Take-Away which, for large parts of the year, were the only sales channels available to our clients. In 2020 we also opened a new self-standing Cafe Pans – the Pans brand for the coffee shop sector – point of sale in the GaiaShopping shopping centre. During the year, the brand also strengthened its partnership with the Continente Card, promoting the second edition of Menu10, an Ibersol Group loyalty programme based on the Continent Card APP, with unique and differenti- ating promotional advantages. 109