Future outlook
The way forward to 2020 and beyond
We are optimistic and we are therefore working with a growth forecast. The primary task for 2019 is to systematically improve and implement our CSR policy and tactics. We need to close the gap between global and local needs, establish inspiring and challenging goals for the years to come, and improve our information management, data collection and analysis processes to balance the workload with the value it generates.
At Q-Park, we are always looking for ways to add value to a liveable, well-functioning society and to improve customer experience. In addition to the practical collaboration models, we will align landlords' and customers' expectations to the latest developments and strategic choices. We will also invest in new technology and provide our customers quick and easy access to our facilities.
Meeting motorists' expectations
We will continue to lead the parking industry by being at the forefront of development, adopting and embracing technology. We will be better equipped to implement the digital and payment solutions that customers require, and this will place us in a better position to participate in Smart City and Smart Mobility concepts. We will also continue to facilitate car charging where demand is growing.
Fulfilling business partners' needs
Our ambition is that landlords will increasingly turn to us as their knowledge partner to help them keep up with technical developments and provide economies of scale for investments.
The benefits for purpose partners at destinations such as theatres, restaurants, and hotels will include more integrated customer interactions and parking service provision in one seamless flow with their products and services.
Car parking market developments
It goes without saying that we keep a close eye on developments that influence the car parking market, such as the need for accessible inner-cities, the growth of online sales, as well as autonomous vehicles and car sharing concepts. Together with various experts, shareholders and senior management we will continue to explore these developments and apply the relevant insights.
Non-financial data infrastructure
Our non-financial data assurance and processes are not as automated as those for the financial information. We want to improve this so that we can report as efficiently and reliably as possible and monitor our targets and improvement projects.
Divestment of the Nordic business
Based on strategic considerations a project was launched in 2018 to divest the Nordic business consisting of the operations in Sweden, Norway and Finland. On 4 March 2019 a Share Purchase Agreement was signed for the sale of this Nordic business, and the transaction is expected to be completed in the second quarter of 2019. The divested Nordic business represents roughly 25% of the Group's revenues and 11% of the operating result before depreciation. The Nordic Group has about 684 employees (592 FTE).