Company information

and main aggregates

The pandemic caused by COVID-19 continued to affect company activity in 2021. If in 2020, and as a result of the impact caused by the epidemiological crisis, and the subsequent mobility restrictions, an unprecedented fall in demand was reported, 2021 was characterised by a gradual recovery of activity, alongside the improvement of the healthcare indicators and the relaxation of restrictive mobility measures. To sum up, a first quarter still highly marked by the epidemic and a more positive trend since April, was partially halted at the end of the year by the emergence of the omicron variant.

Saba’s rotation activity in 2021 increased by 29% on that of 2020, although it still remained 30% lower than in 2019. With respect to the subscriber figure, it rose by 3% in 2021 with respect to 2020 and was 9% below 2019.

With respect to the main aggregates in 2021 and thanks to the recovery from the second quarter, operating income rose to 234 million euros, up 18% on 2020, although 22% below 2019. EBITDA stood at 103 million euros, up 43% on 2020 and 25% less than in 2019. Saba invested 25 million euros in 2021.

Distribution of revenue by country

at 31 December 2021

The company continues implementing initiatives to be a benchmark in the sector

The Company maintained its efforts to increase the business’s operating efficiency, implementing initiatives that enable Saba to become a benchmark in the sector, with specific focus on the new support systems, new technology and energy efficiency, as well as new formulas and commercial initiatives, and to develop the active management of contracts focused on growth. In commercial initiatives, the company continues to insist on signing agreements in the area of new uses and mobile habits for people (sharing, electric vehicles, among others) and goods (last mile distribution).

The Group’s short- and medium-term performance continues to be conditioned by the macroeconomic context in each country in which it operates, together with local factors, whose incidence is uneven. To these variables, it is necessary to add the effects that may still arise from the global health crisis and the impact represented by the significant increase in energy prices and the generalised increase in inflation which clearly affects consumption. In this regard, Saba is constantly supervising the situation and possible financial and non-financial impacts that may be caused by the series of factors.

In the same way, Saba will continue with its optimisation measures and expense management. The adaptation of the communication channels, with a special focus on the digital channel, and on current demand products particularly those earmarked to cover new post-pandemic needs (remote working and employment flexibility for example), confirm a working line aimed at ongoing improvement, which must be expressed by greater profitability. The traditional selective growth policies, based on profitability and economic and legal security criteria, and the initiatives aimed at the efficient management of operations and technological innovation will continue to form part of Saba’s procedural vectors.

The Group’s financial structure seeks to limit the risks arising from the current uncertainty caused by pandemic. Through 2021, the company continued working to have the tools and flexibility that enable it to continue with its activities. Likewise, the financial drive should be highlighted, with an exhaustive control of debt and liquidity, which remain stable and have even been reduced in the case of debt, despite the exceptional situation.

Efficient management and technological innovation are vectors of Saba’s proceeding

Consolidated balance sheet

Millions €
at 31 December 2021