IBERSOL Sustainability Report 2018

CORPORATE PROFILE BUSINESS PORTFOLIO 2018 was marked by further growth as a result of increased transactions, driven by improved market conditions, the refurbishment and opening of new stores, namely in the concessions business in Spain, underpinned by our continued efforts to qualify and develop our personnel. In Portugal the Ibersol group remained focused on fulfilling the strategic growth plans of the Burger King, Pizza Hut and KFC brands and refur- bishing various brands’ restaurants. In Spain, following the acquisition of the Eat Out Group in 2016, the Group faces the challenges that come with merger and integration and continues to readjust its portfolio of food service units, based on con- tractual conditions, return and strategic interests. Of particular note are the concession tenders awarded, which will enable us to reinforce our presence in the Iberian airports. In Angola, expansion has been put on hold and the Group is focusing its resources on sustaining and enhancing its KFC and Pizza Hut opera- tions, while it waits for economic conditions to improve. The assessment of the business portfolio and termination of some con- cessions led to a decision to close 47 units, 24 owned and 23 franchised. With the Iberian market developing positively, the selective expansion plan continued to be implemented, which saw the Group opening 42 new units, 38 owned and 4 franchised. The Ibersol group closed the 2018 financial year with a total of 641 owned and franchised stores - there had been 641 - of which 516 are owned units and 125 are franchised units. There are 332 stores located in Portugal, 292 in Spain, 10 in Angola and 7 in Italy. 14