IBERSOL | Annual Report 2020

Consolidated Financial Performance The concessions and catering segment showed greater recovery dif- ficulties, because of restrictions on mobility that penalised the Travel channel and limitations on gatherings at events in the catering channel, with most of these being cancelled or postponed. Restaurants located in airports were strongly affected by the reduc- tion in air travel. Although there were signs of recovery in the summer, this did not come to pass, due to the increase in Covid-19 cases in Europe. In Spain, where the group operates restaurants in nine different air- ports, passenger traffic dropped 72.2%, with airports located in the Canaries and Balearic Islands suffering less than urban airports in Bar- celona and Madrid, which saw drops in passengers over 80% in recent months. In Portugal, drops in passenger traffic at airports where the group is present amounted to 70%, behaving identically to Spain, with a ten- dency to worsen during the 4th quarter, with losses above 75%. In this context, and in permanent contact with the operators, the reo- pening of the restaurants located in the concessions were re-evaluat- ed to adjust the offer to the expected traffic. Sales in Restaurants (Millions of Euro) 2020 2019 Var. Restaurants 67,2 109,7 -38,8% Counters 175,8 226,8 -22,5% Concessions & Catering 38,9 133,0 -70,7% Total Sales 281,9 469,5 -40,0% 26

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