IBERSOL | Annual Report 2021

Consolidated Financial Performance Despite still being the most badly affected, the concessions and cater- ing segment showed significant recovery in the second half of the year due to lifting of air-traffic restrictions and limitations, which had been imposed in November due to the irruption of the new strain. In Spain, where the Group owns restaurants in nine airports, traffic fell in the fourth quarter by 32% (46% in the third), when compared to 2019. The airports in the Canaries and Baleares islands were less badly affected than those on the mainland. In Portugal, losses in the airports where the Group in present amounted to 30% in the fourth quarter (45% in the third), which reflects the recovery of passenger confidence levels as well as the intention to recover habits and behaviours that were interrupted by the pandemic. The recoveryof table service restaurants that hadbeenoccurring since the summer was also interrupted in November, this segment having closed the year with a growth of 8.9% in relation to 2020 and 33.3% below 2019, having suffered from limitations to occupancy rates and reduced open- ing hours that were gradually eliminated as vaccination progressed and infection rates decreased by region. The counter segment showed greater resilience to restrictions aimed at fighting the pandemic, having registered fewer losses when compared to the same period of the previous year and higher recovery rates. Three factors contributed to this: Sales in Restaurants (Million euros) 2021 2020 Var. 21/20 Restaurants 73,1 67,2 8,9% Counters 220,1 175,8 25,2% Concessions & Catering 55,3 38,9 42,2% Total Sales 348,6 281,9 23,7% 2019 Var. 21/19 109,7 -33,3% 226,8 -3,0% 133,0 -58,4% 469,5 -25,8% 26