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Informe anual _ Annual report 2015 _ 2016
Informe anual _ Annual report 2015 _ 2016
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- SERHS ANNUAL REPORT 2015-2016
www.serhs.com
Institutional area
- Letter from the Chairman ....................................................................................................... 6
- SERHS, we are more than you think............................................................................8
> Quality stamps..................................................................................................................8
> Brands by divisions.................................................................................................. 10
- On the inside............................................................................................................................................... 12
- Corporate Social Responsibility......................................................................................... 14
- Working and family life conciliation policy.............................. 15
- Families programme............................................................................................... 15
- Documentary Management Plan............................................................ 16
- Equality Plans and Social Area.................................................................. 17
- Human Resources...........................................................................................................................18
- Staff Administration............................................................................................... 19
- Occupational Risk Prevention: losses............................................... 19
- Training................................................................................................................................. 20
- Talent Project.................................................................................................................. 21
- SERHS Real Estate..........................................................................................................................23
- SERHS Equity and Portfolio...............................................................................................23
- Related companies.........................................................................................................................23
- Associated companies................................................................................................................23
Business activities
- Letter from the Managing Director............................................................................24
SERHS Divisions
- SERHS Distribution..................................................................................................................... 28
- SERHS Tourism & Hotels........................................................................................................32
- SERHS Food........................................................................................................................................... 38
- SERHS Services...................................................................................................................................42
Economic and Financial Information
- Presentation...........................................................................................................................................47
- General Explanation................................................................................................................... 49
- Auditors’ Report............................................................................................................................... 50
- Balance Sheet........................................................................................................................................52
- Profit and Loss Account........................................................................................................... 53
- Investment Activity....................................................................................................................... 54
- Operation Income.......................................................................................................................... 54
- Consolidated Information....................................................................................................55
SERHS ANNUAL REPORT 2015-2016 - 5
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Dear shareholders,
L
ast year we s said that we were celebrating our 40 years; today we can say that the 40 years’ celebrations great success and well attended, especially the concerts in the Castle, the presentation of the graphic memorial the artist Niebla made to celebrate our 40 years and the meetings that were held in Barcelona and; finally in the closing ceremony in our castle, which brought together partners, employees and friends at a dinner presided over by Honourable Chairman of the Government of Catalonia, Mr. Carles Puigdemont. This celebration has led us to make a deep reflection on the need to develop a relevant strategic plan of the Group, taking advantage of the experience of these years, the deceleration of the crisis and the challenges posed by the new situation of the markets which, due to the rapid development of new technologies is changing the promotion, commercialisation and selling of almost everything and at a very fast pace. But
Another aim of our group is innovation in which the whole staff take part
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we know that this new strategic plan had to be faithful to the principles of being a Catalan company that seeks efficiency and quality, with respect for the environment and the desire to constantly wager on innovation. Work already started on the plan at the beginning of last year, with the aim of increasing sales and mainly increasing margins in order to improve profits, which all means being more efficient. To achieve results with this approach, it is necessary to change our cooperative mentality, which was our original legal form, for that of the company we are today. The cooperative formula went very well to start with and made us great, but now it is necessary to give a final push. We are making an exhaustive analysis of all our activities in order to separate those which work well or have some future possibilities, from those that can hardly change their perfor-
Ramon BagĂł i AgullĂł Chairman of SERHS
But we know that this new strategic plan had to be faithful to the principles of being a Catalan company in search of efficiency and quality, respectful of the environment and with the desire to wager constantly on innovation.
www.serhs.com
What we are most proud of is our staff, which I call the soul of the Group.
mance, no matter how many changes we make to make them more competitive and profitable. We must be clear that the activities in which we are not able to provide value are hardly of interest to us. We are also studying joining activities in order to improve their profitability through increased volume and lower costs, and are seeking alliances in external matters that are vital to us and where we can find companies well placed in the market, and it is even good to study some outsourcing in activities in which we are not leaders. Also on the topic of managers at all levels, we are assessing each one with the desire to be sure that their ability matches their position of responsibility. As for our unproductive assets, we have to find elements of profitability and if this is not possible and the market offers that are acceptable for sale, it is best for the sales to be made As for businesses, have to act very objectively identifying the businesses or activities that do not give a good performance, and seek the activity in the market in which we are well positioned to get a good performance. This is not easy but we must direct work and activity we do that is profitable. We must also be very careful in the action we take abroad, because this is usually complex and difficult; we have had negative, but also very positive results. First, we started catering operations in Morocco and also a travel agency but, despite our efforts, we finally left the country unable to adapt to it. After that we landed in Brazil, specifically in the state of Rio Grande do Norte, and there we did do good business, and now operate two hotels was expected turnover this year of 18,420 million euros. One of these hotels, the Grand Hotel Serhs Natal with its five-star qualification and capacity for about 1,000 people, has been named the best beach hotel throughout Brazil, and the state policymakers are so glad there that they have appointed me an adoptive son of the country. What we are most proud of is our staff, which I call the soul of the group. Years ago, we launched a consolidation plan work, which all employees substantially use today; we annually allocate €50,000 to grants for studies of our staff’s children and organize training courses at all levels. We have a firm desire to do everything possible to make our staff feel valued and recognized. Another objective of our group is innovation, in which all staff are involved, and thanks to your participation we continue improvements in work tasks to facilitate the work and make it more enjoyable. We also perform innovation in innovation, such as the recent installations in which we are building also general gastronomy and catering of the most advanced in the country. That is why, for our staff, having the most advanced technological development of the region and the support of our partners who are optimistic that, just as we are surprised at what we have achieved in 40 years, in a few years we will be very satisfied with our progress. Thank you so much.
Ramon Bagó i Agulló Chairman of SERHS SERHS ANNUAL REPORT 2015-2016 - 7
www.serhs.com
102.3M
452.5
Main Figures SERHS SYNONYM OF QUALITY
ISO 9001:2008 QUALITY MANAGEMENT SYSTEMS
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ISO 22000:2005: MANAGEMENT OF FOOD SAFETY
ISO 14001:2004: ENVIRONMENTAL MANAGEMENT
SERHS ANNUAL REPORT 2015-2016
EUROS SHARE CAPITAL
MILLION EUROS IN CONSOLIDATED SALES
2.89M EUROS IN DIVIDENDS IN 2016
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SERHS We are more than you think
The consolidated sales of SERHS reached 452.5 million euros in 2015/2016
W
orking in hospitality, restaurants and tourism since 1975, the SERHS structure now revolves around four business divisions: SERHS Distribution, SERHS Tourism & Hotels, SERHS Food and SERHS Services.
Although it was born in the Maresme district in the form of a cooperative, the company has grown fast. Today, the Group it spread all over Catalonia, along the whole of the Spanish Mediterranean coastline and can also be found in Andorra and Brazil in the form of delegations, work centres, establishments and the management or its own hotels. Formed by an average payroll of 2,575 workers, and over 1,400 shareholders with a share capital of 102.3 million euros, the “SERHS family” is numerous and one of the corporation’s main reasons for being.
Andorra Ripoll Port del Comte Vic Sant Hilari Sacalm Cardona
Fornells de la Selva
Blanes Tordera Malgrat de Mar Palafolls Santa Susanna Pineda de Mar Arenys de Munt Calella Ripollet Mataró Vilassar de Mar Reus Barcelona
Madrid
Tarragona Salou
Arnes
Torremolinos
Benicarló
Palma de Mallorca Tenerife
València
Benidorm
Andorra Catalonia Spain Canary Islands Natal (Brazil) Pipa (Brazil) São Paulo (Brazil)
Lorca
Cartagena
SERHS ANNUAL REPORT 2015-2016 - 9
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www.serhs.com SERHS - OTHER BRANDS, PROJECTS, INITIATIVES AND PRODUCTS
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On the inside
SERHS shares out dividends to a value of €2.89M
THE BOARD OF DIRECTORS OF Grup SERHS agreed to share out dividends and shares to a value of 2.892.989.82 Euros. FOR THE SEVENTH CONSECUTIVE YEAR, it was chosen to apply the “dividend election” programme. - 63.70% of the shareholders went for the option of share purchase. - The remaining 36.30% chose to receive the amount of the dividend in cash.
End of the celebrations of the corporation’s 40 years IN JUNE was one of the key events of the celebration programme. SERHS gathered 200 people on the main voyage of the Harmony of the Seas, the largest passenger ship in the world. THE 40TH SERHS NIGHT, presided over by the President of the Government of Catalonia, the Right Honourable Mr. Carles Puigdemont, served to close the events of the 40th anniversary.
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THE LAST ACTION IS THE PUBLICATION OF THE BOOK “An unmistakable sign of identity”. The work brings together the most outstanding facts of the Group, from its incorporation in 1975 to the last developments of 2016. IN ORDER TO COMPILE and remember the whole of the celebration, the website web www.serhs40.com was created.
www.serhs.com
WE ARE SERHS: new communication campaign to present the Group from another perspective
THE VIDEO-AD aims to present all of the products and services that the Group offers from a more human and closer viewpoint. ENTIRELY LEAD by workers of the Group companies, all of the concept are related and are introduced through the word “Som” (We are). THE WEBSITE www.somserhs.com is created with the aim of explaining why all of the ‘SOM’ appear in the audio-visual.
SERHS Innovation Awards 2016 COINCIDING WITH THE DAY OF MANAGERS was the “SERHS Innovation awards” ceremony, which in 2016 was in its forth edition. THE “LEAGUE OF SERHS IDEAS” 2016, which recognises the most active worker on the platform of ideas, went to Javier Martin Plaza (SERHS Tourism & Hotels) after 4 proposals, 1 comment and having received 74 votes. THE “BEST SERHS IDEA” 2016 went to José Antonio MartÍnez (SERHS Tourism & Hotels) with the idea “Implementing insurance in website reservations of the Villages”. The table of honour was completed by Sergi Guzmán (SERHS Distribution) with the idea “Internal Asnef” and David Espinosa (SERHS Tourism & Hotels) with the idea “Eudec catering services in offices”. AS IT WAS DONE in the three previous editions, in 2017 different work sessions will be organised to develop and study the feasibility of implementing these proposals. PROOF OF THE SUCCESS of these work sessions is that two of the three best ideas of 2015 have already been implemented or are some way along the process.
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The “Family Party” is the event which gives visibility to the ‘Families Programme’. This edition (the 12th) was attended by around 500 people, who were able to enjoy a day at the Sant Hilari Rural Village full of surprises, with a magic show included.
Corporate Social Responsibility
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LABOUR AND FAMILY CONCILIATION POLICY The SERHS conciliation plan offers workers an extra pack of hours equivalent to 5 working days. With regard to maternity or paternity leave, mothers and fathers who work in SERHS are given a week more than the time stipulated by law. Until the child is 12 months old, SERHS allows the working day to be reduced by 1 hour while maintaining the worker’s pay.
FAMILIES PROGRAMME
The 838 applications received amounted to a total of 2,398 hours conceded.
Each year SERHS gives out €50,000 amongst families with children at school age. The 2016 programme received a total of 417 applications, of which 76% have been granted.
HOURS GRANTED
SON/DAUGHTER’S BIRTHDAY EXTENSION OF LEAVE TO LOOK AFTER RELATIVES
72
1,021.5
DOCTOR
WELCOME BABY
NURSERY
A welcome gift for all newborn babies.
Subsidy for workers who have children under 3 years of age enrolled in nurseries.
37
9,600€ 400€/AID 43
RECEIVED
16.5
222
EXAMINATION
20
COMPACTING AND REDUCING THE WORKING DAY BY ONE HOUR
376
280
4 WEEKS BEFORE THE BIRTH, WORKING 75%
140
20
84
SCHOOL MEETING DEALING WITH THE PUBLIC ADMINISTRATION AND/ OR DIFFERENT ENTITIES
37
AWARDED
RECEIVED
24
AWARDED
EXTENDING THE MATERNITY// PATERNITY LEAVE OTHERS
SCHOOL MATERIAL
HIGHER STUDIES
Help in school material for workers with children from 3 to 17 years of age at school.
Awarding of grants to children of workers studying a university degree or higher grade training cycle.
23,900€ 100€/AID 296 RECEIVED
239
16,500€ 500 OR 100€/AID 41 RECEIVED
19
AWARDED
42% DOCTOR 9% SCHOOL MEETING 3% DEALING WITH THE PUBLIC ADMINISTRATION AND/OR
DIFFERENT ENTITIES 1% EXAMINATION 1% OTHERS 3% CHILD’S BIRTHDAY 7% EXTENSION OF LEAVE TO LOOK AFTER RELATIVES 12% EXTENSION OF THE MATERNITY/PATERNITY LEAVE
AWARDED
TOTAL
417 319
RECEIVED AWARDED
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Documentary Management Plan
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In order to achieve “Paper-free offices”, SERHS wages on Documentary Management. There are currently three projects running to eliminate paper from our dealings.
1. DIGITALISATION OF BILLS 76% of the billing is now produced by electronic means. We work with different platforms to make it easier for our suppliers to integrate with our systems. Everything that SERHS receives on paper is put onto a digital support. A single digital file accessible for users now replaces the physical paper document. More than half of the bills in SERHS companies are now issued in electronic format. 100% 90%
87%
49%
80%
25%
28%
76%
13%
51%
20%
75%
72%
24%
SERHS FOOD
SERHS HOTELS
SERHS SERVICES
TOTAL SERHS
80% 70% 60% 50% 40% 30% 20% 10% 0%
PAPER
SERHS SERHS TOURISM DISTRIBUTION
E-BILL
2. DIGITAL WORK FILE Since 2014, work has been under way to put all payroll files on digital support. Since 2015, all new incorporations have had the Digital Work File from the beginning. There are now 8,056 files in this format.
SERHS DISTRIBUTION SERHS TOURISM & HOTELS SERHS Tourism SERHS Hotels SERHS FOOD
1.309 728 1.305 4.546 168
SERHS CENTRAL SERVICES
3. ELECTRONIC SIGNATURE and BIOMETRIC SIGNATURE Both complement the Documentary Management and substantially help a more effective implementation of the Documentary Management Plan. The documents are on digital support from the start.
20.000
18.455 15.785
15.000
14.732 9.771
10.000 5.000 0
DOCUMENTS PRODUCED IN BIO FORMAT
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DOCUMENTS SIGNED BIOMETRICALLY
DOCUMENTS SIGNED ELECTRONICALLY
DIGITALISED PAPER DOCUMENTS
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SOCIAL AREA
FOOD BANK SERHS increases its donations of products to the Food Bank every year. In 2016, the figure reached almost €65,000 in products, representing a very significant increase over the previous years. FOOD BANK DONATIONS
€64,224.87 €29,712.44
EQUALITY PLANS SERHS has 5 Equality Plans published on the Register of Equality Plans of the Government of Catalonia in the following companies:
€19,893.02 €10,473.08
2013
2014
2015
2016
SERHS Food Area SL
VICENTE FERRER FOUNDATION
Europea de Cuinats SL
Sacalmser SL
Continuing with the line of collaboration we have maintained for more than a decade, SERHS continues with the agreement with the Vicente Ferrer Foundation.
SERVICES Educatius i Socials del Maresme
Mediterraneum XX SL.
The agreement is materialised on the ground with the construction of reservoirs to collect rainwater.
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Human Resources Average payroll 2016: 2,575
The Human Resources Corporate Management of Grup SERHS, in its striving to constantly innovate and improve, since 2012 has worked under the brand of “Human SERHS Consulting� through which, with a distinct identity, offers its service dossier: salary management, legal-labour advice, associated occupational risk prevention service, selection, training and consultancy in Human Resources with companies outside the Group. Focused mainly on the tourist, hospitality and food sector, it goes to market as a company specialised in Integral Human Resource Service in all of its variants. For more information, you can visit www.humanserhs.cat.
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STAFF ADMINISTRATION Specialised in advice and processing of the work area, service is given to all SERHS companies, but also to external customers. All of the information is channelled through the “SERHS SERVICES Portal”, an online, personalised, interactive, confidential and secure tool available 24/7.
OCCUPATIONAL RISK PREVENTION LOSSES
FLEXIBLE COMPENSATION PLAN (PCF). The aim of the PCF is that all workers of SERHS should be able to choose how they want to receive their gross annual income (with a limit of 30% of the total). Every worker can design the composition of their pay package, and put part of the salary over to contracting certain products with significant tax and economic benefits, and thus increasing their net availability. Investment in Products of the Flexible Compensation Plan = €317,641
84.60%
7.40%
4.80%
HEALTH INSURANCE
NURSERY SCHOOL
SHARES
SERHS closed 2016 with a loss index of 6.3%, without accidents en route. A total of 17 accidents were counted “en route”(1) involving sick leave in 2016, accounting for 11.18% of all accidents with sick leave. (1) *Accidents occurring between work and home.
Comparative graph of the loss index 2016 of the work accidents with and without accidents en route.
WITHOUT ACCIDENTS EN ROUTE 2016
6.36% 7.16%
WITH ACCIDENTS EN ROUTE 2016
Loss index: (Total no. Accidents/annual average workers) *100.
All of the accidents that occurred were light.
2.00%
1.20%
RESTAURANT CARD
TRAINING
ABANTESER ASSOCIATED PREVENTION SERVICE OF THE HOSPITALITY SECTOR The Abanteser Associated Prevention Service, which specialises in the hospitality sector, was created in 2013 with 4 companies taking part. It now has a total of 25 associated companies and an annual average of 630 workers. RETURN OF SERHS 2016 LOW LOSS BONUS In 2016, 10 SERHS companies were awarded for their good work in preventing occupational risks. €30.000
€25.289
€25.000 €20.000 €15.000 €10.000
€11.515
€9.763 €2.681
€5.000
€1.330
€0
SERHS DISTRIBUTION
SERHS SERVICES
SERHS TOURISM
SERHS HOTELS
TOTAL SERHS
SERHS OHSAS 18001 RE-CERTIFICATION In March 2016, the management system of the SERHS associated prevention service was recertified according to the requirements of the OHSAS 18001:2007 standard, through the TÜV- Rheinland auditing company.
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TRAIN ING SERHS wages firmly on raising the skills of its employees. Investment in training is key to ensure that the workers are prepared for a changing market and ever more competitive as a result of the growing levels of globalisation, the technological developments and commercial liberation. GROUP COMPANIES : INVESTMENT IN TRAINING 2016: €347,093.29 €160.000 €140.000
€135,488.70
€120.000
€99,405.29
€100.000 €80.000 €60.000
€50,540.65
Human Resources
€40.000
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€31,663.91 €29,994.74
€20.000 €0
SERHS DISTRIBUTION
SERHS TOURISM
SERHS HOTELS
SERHS FOOD
SERHS SERVICES
Total hours of training done by SERHS workers: 42,628 hours Number of training groups: 581 courses Number of training participants: 4,389 pupils % successfully completing the training: 66% Average hours of annual training per pupil: 9.71 hours % Pupils training through our e-learning platform: 71% Pupils trained by subject:
8.18% TALENT PROJECT 33.11% ORP, QUALITY, ENVIRONMENT AND CSR 5.74% SPECIFIC DIVISION 10.62% SKILLS AND HUMAN RESOURCES 41.31% ORP WELCOME MANUALS 0.66% OFFICE IT AND NEW TECHNOLOGIES 0.32% COMMERCIAL AND MARKETING 0.07% ADMINISTRATION AND FINANCE As specialists in the service for the hospitality and restaurant sector, the SERHS Human Resources Department worked on giving and managing the training of several of its customers:
Total hours of training managed: 1,004 hours Number of training groups: 11 courses Number of training participants: 73 pupils
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TALENT PROJECT SERHS has carried out the second phase of the Strategic Human Resource Project for the transformation of the organisation’s culture, which consisted of: On the one hand, implementing Human Resource Management Processes which, with even criteria across the whole of the Company, assure the capacities that SERHS requires, without forgetting the special features of each of the businesses. Some of the challenges achieved are: 360º assessment of the 95 group directors, settlements in which more than 442 workers took part as assessors. Preparation of the 95 Individual Development Programs (IDP’s) of the group directors, each with an average of 2-3 skills to be developed in 2017. Analysis of the organisational structure (identification of “key posts”, “high potentials” and “key talent”) and start-up of the preparation of the Succession Plans on which work is under way with more than 400 professionals of the group. Furthermore, this project also consisted of informing and training managers and business commands so it might be these who lead the transformation process through the Implementation of the Key Processes of Human Resources.
In this sense, in 2016, highlight the introduction of the Management Development Programme, a programme which supposed: More than 50 hours of training for each of the group’s managers. Introduction of 3 Skills Modules, 1 Development Workshop and 3 HR Process Modules.
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RELATED COMPANIES: SERHS S/COOP. C. LTDA.
SERHS REAL ESTATE This area aims to seek maximum returns on assets available to SERHS. Its actions focus on facility rentals, purchases and sales or the promotion of certain activities on both urban and industrial land.
Its initial drive and its cooperative and associative willingness serving the people have allowed it to develop an intense social activity. From the very beginning, 40 years ago, the people’s sense of belonging, mutual trust and desire to improve, have led the development of many initiatives throughout the company, and have achieved what today is known as SERHS.
SERHS EQUITY AND PORTFOLIO Grup SERHS S.A. holds a considerable portfolio values and at the same time is the owner of a series of buildings. Through its portfolio of values, it directly indirectly played a dominant role in all of the group companies.
Associated companies ESCOLA UNIVERSITÀRIA D’HOTELERIA I TURISME DE SANT POL DE MAR
Publintur SA
This hotel school, attached to the University of Girona and founded in 1966, has a long tradition in tourist, hotel and gastronomic training and maintains a close and reciprocal institutional bond with SERHS. The centre, which is part of the exclusive “Hotel Schools of Distinction” network, is a pioneer in its area and allows intense and fruitful exchange with the SERHS group of companies.
Devoted to image and communication, graphic and digital production, PUBLINTUR maintains a close and intense relationship and bond with SERHS. PUBLINTUR has its own graphic design studio and printing workshop, which includes offset and manipulation printing machinery, and also a state-of-the-art digital printing unit. It also offers large format printing services for signs, posters, portable structures and electronic signs, which have been very successfully introduced in the hotel sector. Altogether, activities that have produced strong business synergies and driven an intense relationship of collaboration.
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Dear shareholders,
After 40 years of successes and with a clear will to maintain the values that saw us appear, we have to take an important step in redefining our organisational model, we have to go towards a very agile and modular able format.
I
f in the previous report we said that we had already deployed the organisational part, now we can said that this was the first year ending where we have deployed all of our Strategic Plan as we approved at the General Meeting of Partners in the month of June 2015. An ambitions plan that will lead us to confront major challenges in the coming years, based on the four pillars supporting it: the organisational model, the funding model, the business model and finally the corporate model. All these areas must be perfectly aligned so that SERHS can move forward in an orderly, steady manner with clear objectives, towards growth, innovation and the sustainability of our businesses.
Jordi Bagรณ i Mons After 40 years of success and a clear willingness to maintain the values with which we were CEO of SERHS born, we need to take a large step in redefining our organisational model; we have to move
to a very agile and adaptable format, a model based on work by objectives tailored to the requirement of all companies today to adapt to the sudden changes the market constantly brings. We have to shun highly verticalized, confronted models very verticalized in which offices prevail over people. We are an organisation that has achieved success by having great internal talent and the complete involvement of our teams. We must continue to invest in people as the best asset of our organisation, but with organisational formats adapted to the reality of the times we live in. Our funding model has for many years been a model based on three very clear sources: the financial institutions, the generation of resources of our businesses and the capital increases
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The central axis, of course, refers to the analysis of our business models in the past years of crisis, the evolution of technology and new behaviours of society mean that we have to review all our business models with the clear objective of adapting to the new reality. We come from a cooperative model where our base was the cooperative partner and, therefore, our only goal was to cover everything we needed to serve this partner. Today our situation is very different because we are no longer a cooperative, we are a holding;, we have the obligation to be competitive in the markets where we operate and in the segments of activity where we decide to develop. It is for this reason that each of the keys that we defined in the Grup SERHS Strategic Plan, in terms of our business models, focus on the need to concentrate our activities based on our competitiveness, our contribution of value and the route we have in the development of that activity. Based on this, we have decided that Grup SERHS should focus on four very well defined business divisions: the Division of Distribution, the Division of Hotels and Tourism, the Food Division and the Division of Services.
We are more and more convinced of the right decisions in the development and data deployment of our strategic plan.
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that we have made over the years, always very successfully received. Unfortunately, the years of crisis have punished everyone, and a major part of our social mass has not escaped. It has had a double consequence for us: firstly the great difficulties that our partners have had in continuing to make contributions for the purchase of shares, and; secondly, our unwritten but moral commitment to help these partners with difficulties to the extent we can. And so we have done through all these years of crisis, in which we have had to buy stock from our partners worth more than 33 million euros, which has obviously significantly diminished our financial resources. Therefore, we must look for ways to successfully tackle the future projects of our organisation. This situation has led to a different funding plan from what we have historically had, and which is perfectly aligned with that drawn up in the Strategic Plan.
We are convinced that all of these will reach the level of leadership necessary to achieve the objectives defined in the three-year plan, objectives that in a consolidated manner will help Grup SERHS remain a leading company in the Catalan business world. Finally, the last axis is the corporate model. As I said before, we come from a cooperative model that has worked excellently for many years and which we significantly evolved in the first strategic plan for our organisation in 2000, which consisted of grouping the diversity of our business divisions. Today these divisions are well structured, with specific management teams with the sole aim of enhancing their business segment. But today we must take a step further, which involves simplifying of all these corporate divisions and reinforcing the idea of Grup SERHS as a holding, with the aim that our divisions might have a more cohesive structure, yet much more simplified. To do this we have developed a model where Grup SERHS as a company will only have corporate activities and will delegate all business activities in the divisions, as we believe that all of them already have a very strong management structure to be able to ensure their proper development. We are more and more convinced of the successes in the development and subsequent implementation of our strategic plan. This is a year of consolidation, in which we already begin to clearly see where the future will take us from the model that we defined. Nothing is easy and we are convinced that along the path we will find situations unexpected today; but we are also convinced that our current situation is one of great strength in all aspects in order to combat any difficulties and achieve the goals and successes we have set ourselves.
Jordi Bagรณ i Mons CEO of SERHS
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Our divisions
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www.serhs.com FRUIT
HOSPITALITY AND RESTAURANTS
DISTRIBUTION
SERHS PROJECTS
DISTRIBUTION
HEALTH
SERHS ITC
EDUCATION
FOOD
SERVICES
EVENTS
INSURANCE
HUMAN RESOURCES
CORPORATE FINANCIAL AND TAX ADMINISTRATION
BAKERY
TOURISM & HOTELS
5TH RANGE PRODUCTS
INCOMING & DISTRIBUTION (SERHS Tourism)
HOTEL MANAGEMENT (SERHS Hotels)
REAL ESTATE SERVICES
HOTEL CONSULTING SERVICES (SERHS Tourism&Hotels New Ventures)
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FRUIT
DISTRIBUTION
DISTRIBUTION
FOOD
SERVICES
TOURISM & HOTELS
At your service serhsdistribucio.com | serhsfruits.com
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SERHS DISTRIBUTION
BUSINESS ACTIVITIES:
SERHS DISTRIBUTION SERHS Fruits BRANDS:
SERHS Fruits SERHS Integral Service Cediserhs Itelat
S
E R HS Distribution is the division of SERHS that specialises in the integral distribution of products for the sector of hospitality, restaurants and communities. The division is organised according to products distributed, from drinks, coffee, dispensing and dry foods to fruit, vegetables, 4th range and perishable, frozen and/or fresh products. All of the activity of SERHS DISTRIBUTION is aimed at improving the management of our customers’ businesses by offering them a customised value proposal, depending on whether it is a restaurant, a hotel or social restauration. With the application of new technologies, we offer these proposals and our clients can place orders through our online store www.serhsdistribucio.com, adapted to any kind of mobile device. The division also has SERHS Fruits, the company specialised in the distribution of fruit and vegetables for the hospitality and food industries.
Kahova Adaggio Roser Romeu Torné Cal Puig Vega Barzán Vega Orgaña Joia Viña Brasa
Significant figures
Alfa Dispensing Adept Eco Net
5,000
7M
40M
PRODUCT REFERENCES
BOXES OF PRODUCT
TURNOVER VIA THE ON-LINE CHANNEL
25%
14M
OF PURCHASES IN SERHSDISTRIBUCIO.COM
ARE NOW MADE FROM THE MOBILE PHONE
KG. OF FRUIT AND VEGETABLES DISTRIBUTED
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Introduction of The CAS (Customer attention service)
TO ENSURE that the relationship with customers does not only focus on orders and in order to be able to interact with them in an ongoing basis, Department has been created inside the Customer attention service division (SAC). THIS NEW SERVICE has the basic function of attending and better managing communication with customers and of measuring and processing the derived data to consider operational improvements that add value. IT IS EXPECTED TO BE IMPLEMENTED on all platforms of the division. Since
the start of the service in July 2016 calls have been managed by classifying them by reasons and establishing protocols for resolution. We have treated an average of 4,000 calls per month. Soon WhatsApp is expected to be implemented as the new channel of communication. THE CAS WILL BRING greater quality in the service, greater customer satisfaction and more logistics efficiency to SERHS DISTRIBUTION.
The web portal as a lever of growth SERHS DISTRIBUTION is working to provide the web with tools to attract new customers through the proactive use of information and knowledge that the platform itself creates, by using this channel, that is to say the website, as a further salesman. SURVEYS ARE THEREFORE MADE about the advantages of our platform for customers of SERHS DISTRIBUTION who do not use the site. The platform is given visibility through searches related to our business through search engines like Google, to increase the customer leads and to brand the company and its values. Through push notifications, it informs customers of new product lines, with the aim of increasing the average order.
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New Responsive version (V2) of serhsdistribucio.com THE USE made of mobile devices continues to grow. During the month of January 2016 about 30% of orders were already web from mobile phones and in the last quarter of 2015 nearly 40% of new web clients ordered via this device. THIS IS WHY a new update of the mobile version has been issued (responsive web v2) with improvements such as reduction of the steps needed to place an
order, the incorporation of new sections of offers and promotions a new feature for the customer to be able to call the salesperson or web manager directly from the web. THE AIM is focused on speeding up the user purchase and thus increasing the number of orders through this device.
www.serhs.com
The strategic agreement have been renewed with Nestlé to market the BONKA and Nescafé Alegria coffee ranges for the coming 5 years.
ADISCAT Assembly: The Challenges of DISTRIBUTION THE CASTLE JALPÍ was the venue of the 12th edition of the ADISCAT Assembly, attended by 125 professionals from DISTRIBUTION, including Jordi Bagó, CEO of SERHS and Igor Onandia, general manager of SERHS DISTRIBUTION, among other executives of the group. MR. JORDI PUJOL MEDINA, PRESIDENT OF ADISCAT, framed the event with the mes-
sage of the challenges of DISTRIBUTION, a sector in full transformation and with significant changes among large manufacturers. THE SPEAKERS ADDRESSED the evolution of major macroeconomic figures such as oil prices, the high incidence of DISTRIBUTION and also various factors of commercial motivation to generate proactive sales attitudes.
Strategic agreements The collaboration agreement with Gallina Blanca HAS BEEN RENEWED as a result of the good figures and the satisfaction on both sides of the business relationship. In addition to selling various product ranges (cooking, pasta, rice, tomatoes and oils from El Pavo, Bayo/Nomen and Gallina Blanca), the agreement includes a plan for continued growth between the two companies.
AN AGREEMENT HAS ALSO BEEN SIGNED with Nektar Natura brand for the commercialisation and distribution of its products: juices, soft drinks and iced drinks in dispensing format for hotels and communities.
The long-term strategic agreement HAS ALSO BEEN RENEWED with Granini (Eckes Granini Iberica SA), the non-alcoholic beverage brand leading the industry for its quality and brand recognition.
And finally, the trade agreements of distribution continue to be widened with Coca Cola Iberian Partners, with a new agreement for the sale and distribution in the Vallès district.
WITH NESTLÉ the strategic agreements have been renewed to market the BONKA and Nescafé Alegria range of coffees for the next 5 years.
SERHS Fruits THE CAMP NOU DERBY served to signal the start of the ‘At school, fruit is unrivaled” campaign promoted by the Government of Catalonia with the collaboration of the two clubs, FC Barcelona and RCD Espanyol. THE PLAN IS FUNDED by the European Union and the Department of Agriculture, with the collaboration of the departments of Education and Health. Afrucat is the awarded entity and SERHS Fruits once more develops the management and logistics of the service to all schools in Catalonia. During the 2015/2016 academic year, 1,200 schools and 292,000 students took part in the plan. Over 800 tons of fruit (carrots, grapes, plums, nectarines, apples, pears, tangerines, oranges, strawberries, loquats, bananas and apricots) are expected to be distributed, all premium local, km0 and quality products. S E R H S A N N U A L R E P O R T 2 0 1 5 - 2 0 1 6 - 31
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INCOMING & DISTRIBUTION (SERHS Tourism)
HOTEL MANAGEMENT (SERHS Hotels)
HOTEL CONSULTING SERVICES
(SERHS Tourism&Hotels New Ventures)
FOOD
SERVICES
TOURISM & HOTELS
DISTRIBUTION
the leisure hotel expert serhstourism.com | serhshotels.com
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SERHS TOURISM & HOTELS
BUSINESS ACTIVITIES:
Incoming & Distribution (SERHS Tourism) Tourist intermediation Hotel Management (SERHS Hotels) Hotel Management Hotel Consulting Services (SERHS Tourism & Hotels New Ventures) Hotel Consultancy Services BRANDS:
SERHS Tourism Rhodasol Iberovacances SERHS Travel Service SERHS Hotels SERHS Consulting & Management Meeting Experience
S
E R HS Tourism & Hotels is the tourism division of the SERHS businesses, dedicated to the tourism and hotel management intermediation service and with extensive experience of over 40 years in the sector. With a turnover of more than 250 million Euros, SERHS Tourism & Hotels represents 50% of the Group turnover and has a workforce of about 1,000 people. The structure of SERHS Tourism & Hotels includes three distinct areas which offer various business solutions to tour operation, agencies and hotels: tourist intermediation (SERHS Tourism), hotel management (SERHS Hotels ) and hotel consultation services (SERHS Tourism & Hotels New Ventures).
Significant figures 23,654 8,000M
1.5M
HOTELS COMMERCIALISED IN THE WORLD
ONLINE REQUESTS MANAGED EVERY YEAR
PASSENGERS A YEAR RECEIVE OUR SERVICES
50
2,500
11
ISSUING MARKETS
NATIONAL AND INTERNATIONAL CUSTOMERS
HOTELS UNDER OWNERSHIP OR MANAGEMENT
Hotel Juice Vilars Rurals SERHS Hotels Barcelona SERHS Hotels Brasil SERHS Hotels Muntanya Sant Hilari Aventura 128 Rambla Restaurant Cycling friendly hotels
3.6M ROOM NIGHTS A YEAR
40% IINCREASE IN MICE SALES
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Rural Villages VILARS RURALS, the official partner of the Hospital Sant Joan de Déu. The agreement between Rural Villages and the main Maternity and Children’s Hospital in the country (both members of the ‘Kids Cluster), provides advice and accreditation in activities, spaces and feeding for babies. 123% GROWTH IN EBITDA of the ‘Vilar Rural’ product, as well as their sales (Sant Hilari 14%, Cardona 15% and Arnes 25%) over the previous year.
City Hotels (Barcelona) THE SERHS Hotels in Barcelona project is consolidated. THE THREE HOTELS IN BARCELONA (Hotel SERHS Rivoli Rambla, Hotel SERHS Del Port and Hotel SERHS Carlit) exceed 90% of net annual occupation. SIGNIFICANT INCREASES IN OCCUPATION in the three establishments: +10% SERHS Rivoli Rambla, +52% SERHS Del Port and +70% al SERHS Carlit. THE ONLINE REPUTATION of three establishments in the city achieves 8 out of 10, thus improving the score from the previous year.
Mountain Hotels INCORPORATION UNDER MANAGEMENT CONTRACT of two establishments in Escaldes Engordany (Andorra): the Hotel SPA Termes SERHS Carlemany (4*) and the Hotel Aparthotel SERHS Cosmos (3*). The agreement includes operative assessment and their comprehensive commercialisation.
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LA FANOC (Association of Large Families of Catalonia) and the FEFN (Spanish Federation of Large Families) recognize the Rural Villages as the “Best Accommodation suited to families” for their ability to meet the needs of families when planning their leisure, rest and holiday times. THE PUBLIC HEALTH AGENCY OF CATALONIA (ASPCAT) grants the Rural Villages AMED Accreditation for the promotion of health through daily menus based on the Mediterranean diet.
www.serhs.com
In December 2015, the administration of SERHS Hotels was brought into the new structure of SERHS Tourism & Hotels.
Hotels in Brazil THE MONTH OF JANUARY 2016 closes with 96% occupation (record for the hotel). TRIPADVISOR for the 6th consecutive year awards the SERHS Natal Grand Hotel with the Certificate of Excellence. LARGE COMPANIES AND ORGANISATIONS still rely on the SERHS Natal Grand Hotel as a site to organise their corporate events: Laboratoris Bayer, Banco
Santander, Congrés Internacional de Toxicologia, Jogos Paralímpicos Escolares, Copa Caixa Torneio Internacional de Futebol Femenino and Danone, among others. DEVELOPMENT CONTINUES in direct sales through the website of the hotel. The “Client Premium” starts up, in which customers receive discounts on hotel registry, allowing them to reduce the costs of agency fees.
New web of the new division LAUNCH OF NEW SERHS Tourism & Hotels website: www.serhstourismandhotels.com. With a functional design adapted to all devices, it presents the 10 brands of both divisions. Structured according to the three business areas of the division: tourist intermediation, hotel services and hotel management. Aimed particularly in the hotel sector as an object of the strategy of the division.
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Senior tourism APPROVAL FOR THIRD CONSECUTIVE YEAR as a company marketing the Europe Senior Tourism SINCE SERHS TOURISM was approved as an organizer and marketer of tourist packages of the Europe Senior Tourism programme, it has become the operator selling the largest number of destinations: 30 destinations along the coasts and cities of Spain, and it has established itself
as the operator that promotes the programme to more markets: 20 countries in total. THE PROGRAM IS INTENDED to reduce the seasonality that tourist destinations suffer and improve the quality of life of European population over 55 years of age. Since the first edition in 2009, the Europe Senior Tourism programme has attracted more than 140,000 European tourists over 55 during the low season.
Technology THIS YEAR SERHS TOURISM focused on improving its booking platform, specifically in the search for product, having built in a search engine by map and the software to manage campaigns and offers. PortAventura has also integrated the product as the first ticketing option and a new function that consists of creating budgets for users. This has led to an improvement in the overall performance of the application. FURTHERMORE, NEW XML INTEGRATIONS HAVE BEEN BROUGHT IN, particularly of the Medplaya chain, the hotels of PortAventura, the Spanish El Corte Ingles wholesaler and the Hotelbeds online wholesaler.
New agreements with tour operators SERHS TOURISM has signed an agreement with PRIMERA GROUP, the largest private tour operator in the Nordic countries, which operates with travel agencies in Sweden, Denmark, Norway, Finland and Estonia and expects to bring 30,000 passengers to the Catalan coast up to October 2017. IT HAS ALSO REACHED AN AGREEMENT WITH ALLTOURS, one of the leading tour operators in the German market, which expects to attract 4,000 German and Dutch tourists of the SERHS Tourism portfolio from April to October 2018. 36
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NEW AGREEMENTS ALSO HAVE BEEN SIGNED with the Spanish wholesaler CN Travel for products in Portugal and the North and with the French operator Groupe Pro BTP. THESE AGREEMENTS ARE PART OF THE SERHS Tourism Strategy, which is to develop and strengthen the three commercial lines open so far: -
TOUR OPERATION, expanding the number of KAMs (salespeople) in major markets and further strengthening the international presence of SERHS Tourism
- ONLINE business by opening to new customers and new markets, and optimizing existing customers, and - THE RETAIL CHANNEL, giving priority to Spanish and French markets and preparing the opening of new markets. Within the online business, we would highlight the creation of the Data Analysis Department, which aims to control the millions of requests received to enhance the conversion rate of this channel.
www.serhs.com
The main markets where the “Cycling friendly Hotels by SERHS” will be commercialised are Germany, France, United Kingdom, Sweden, Finland, Poland, Italy, Holland and Hungary.
Launch of the new CYCLING FRIENDLY HOTELS by SERHS programme The new brand of SERHS “CYCLING FRIENDLY HOTELS BY SERHS “aims to promote accommodation designed for cyclists by presenting them and offering hoteliers an opportunity to reduce the seasonal nature of demand. The main markets where the market ‘Cycling Friendly Hotels by SERHS” will be commercialised are Germany, France, UK, Sweden, Finland, Poland, Italy, the Netherlands and Hungary. THE NEW SERHS BRAND also wants to encourage accommodation to offer additional services for those professionals or amateurs seeking optimal establishments and wishing to do sport on their stay at the hotel. This kind of customer requires
specific characteristics and needs. Among the services that the hotel has to offer to join the programme is the fact of having facilities (gym, maintenance workshop, spacious and comfortable rooms to relax and with a fridge or minibar and balcony or terrace), restauration for sportspeople, as well as bicycle rental and guided tours. SEA OTTER EUROPE, THE FIRST CONTACT. SERHS Tourism has reached a collaboration agreement with Sea Otter, which makes SERHS Tourism the only marketing company that will provide accommodation for the Sea Otter People Bike Show. The event, to be held in Girona from 2 to 4 June, expects to attract 10,000 cyclists and more than 25,000 visitors.
Agreement with the Provincial Council of Almeria
AN AGREEMENT WAS SIGNED BETWEEN THE PROVINCIAL COUNCIL OF ALMERIA AND SERHS Tourism, in which the campaign was adjudicated for bringing in tourists from eleven European countries. THE ARRIVAL WAS EXPECTED in the province of Almeria 36,000 tourists, and in the end 40,000 came, 4000 more than initially forecast. S E R H S A N N U A L R E P O R T 2 0 1 5 - 2 0 1 6 - 37
www.serhs.com
5TH RANGE PRODUCTS
BAKERY
CORPORATE
EVENTS
EDUCATION
HEALTH
HOSPITALITY AND RESTAURANTS
FOOD
DISTRIBUTION
TOURISM & HOTELS SERVICES
serhsfood.com | castell-jalpi.com | eudecfood.com | flecaserhs.com | serhsalimentacio.com serhsfoodcorporate.com | serhsfoodeduca.com | sincfood.com | takeeateasyserhs.com
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SERHS FOOD
BUSINESS ACTIVITIES:
Hospitality and restaurants Health Education Events Corporate Bakery 5th range products
S
E R HS Food offers a comprehensive service in the area of food based on the production and sale of fifth range food products and bakery and restauration management activity for third parties, both for communities and institutions and catering services for events and macro events. Our structure is based on a set of businesses of different food management and production activities, making us experts in comprehensive restauration, addressing sectors such as health, business, prisons, schools, universities, hotels, restaurants, sports centres, theme parks and many more, being able to handle the needs of the hospitality, restaurant and community sectors. Serhs Food, benchmark in innovative and efficient solutions for the management of professional restauration for groups, by providing solutions based on collaboration with and commitment to customers, prioritizing excellence in management, food safety and nutrition.
BRANDS:
SINC Food System Eudec Arcs Catering Castell JalpĂ Fleca SERHS Renato Romagnoni Take eat easy
Significant figures HEALTH
SINC
EDUCA
DAILY MEALS
DAILY MEALS
DAILY MEALS
SCHOOLS
CENTRES
COMMERCIAL REST. + THAN
BAKERY
10,000 16,500 CAR
1M
KG WITH + THAN
400
REFERENCES
150
7,500 18
750,000 360,000 SANDWICHES AND + THAN
2M
KG OF FLOUR USED A YEAR
BEVERAGES
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SINC System ALL HOSPITALS MANAGED BY SERHS Food already do so with the SINC system implemented. LAUNCH OF TRE “FLAVOURS” PLAN to improve the personalized service and excellence in specific products such as textured and special diets. This plan allows us to take full advantage of the best cooking techniques of cooking unhurriedly, respecting the recipes and flavours of traditional cuisine.
New CAR (High Output Kitchen) SERHS FOOD OPENS NEW HEADQUARTERS IN MATARÓ. The 4,200 m2 facility, includes the area of production (High Output Kitchen - CAR) and the headquarters of the division. THE NEW PRODUCTION PLANT, equipped with the latest technology and state-ofthe-art machinery, is ready to produce over 400 products. THE CAR HAS a separate line for the preparation of allergen-free products. THE DIVISION HEADQUARTERS, which have been designed with the objective of promoting employment and collaboration
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EUDEC FOOD RENEWS its e-commerce platform (www.eudecfood.com): improved functionality, greater scalability, new design, private area for customers, browsing by products, combined categories and responsive adaptation. THE ALMOST 30 YEARS in vacuum cooking together with new high capacity facilities have allowed us to launch made-to-measure product line, developing dishes and exclusive recipes in collaboration with our customers.
SERHS ANNUAL REPORT 2015-2016
between the team, are divided into two main areas: corporate services and business activities. THE HEADQUARTERS HAVE BEEN CONCEIVED for visits by all types of groups and customers such as schools, hospitals, businesses, restaurants and hotel chains. The lobby has been set up with stands and a show cooking area for workshops, demonstrations and talks. THE WHOLE FACILITY has been designed and equipped following criteria of minimisation of environmental impact and energy consumption.
SERHS Food Educa THE GROWTH and consolidation of this line places us as a references and one of the indisputable leaders in Catalonia. The introduction of the SINC in this sector has already been successful in more than 30 schools.
www.serhs.com
SERHS Food starts up a new website. Using a completely renewed image, work has been done on the new space in order to bring it closer to the customers and the potential market.
Castell Jalpí DURING THE MONTHS OF JULY AND AUGUST, the Castell Jalpí hosts the 18th edition of the Classical Music Festival of Santa Florentina. OVER THE 10 CONCERTS, more than 2,800 spectators gathered in the courtyard of arms of the Castle where, in addition to the musical offer, select cuisine was also made available.
SERHS Bakery
LAUNCH OF NEW WEBSITE OF SERHS Bakery: www.flecaserhs.com. Working from the Magento platform, the website makes available the full range of SERHS Bakery, as well as the possibility of customising the catalogue according to customer requests and tastes. WITH A CLEAR ORIENTATION towards high restauration and catering, the “Gold” product lines is created, which adds to the existing “Premium” category. UPDATE OF BRANDING WITH renewed logo, new iconography and new graphic material, which highlights a new book of images of all references marketed.
New customers SERHS FOOD is adjudicated large customers and emblematic areas: restaurant service and automatic distribution machines in the Parliament of Catalonia, food service and vending machines in the AENA staff dining room (El Prat airport - Barcelona) and service to more than 30 public educational centres of the town of Terrassa, among others. EVENTS. Another emblematic space enjoying the Arcs Catering restaurant service is the Gran Teatre del Liceu. S E R H S A N N U A L R E P O R T 2 0 1 5 - 2 0 1 6 - 41
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SERHS PROJECTS
SERHS ICT
INSURANCE
HUMAN RESOURCES
ADMINISTRATION, FINANCES AND TAX
REAL ESTATE SERVICES
TOURISM & HOTELS
DISTRIBUTION
SERVICES
FOOD
www.serhsequipments.com | www.serhsprojects.com | www.serhs.com
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SERHS SERVICES
BUSINESS ACTIVITIES:
Hospitality equipment New technologies Computer applications Telecommunications systems Human resources Insurance Administration and Finance Real estate services
S
ERHS SERVICES, backed by the management realized within Grup SERHS has a solid know-how we convey to all our customers, thus forming a complete product portfolio. In this division, the SERHS corporate managements are represented that do a transversal job for other business divisions of the group and SERHS Projects, the activity dedicated to solutions and equipment for hospitality and communities. SERHS Projects develops and implements professional kitchen and restauration area designs, as well as buffets, show-cookings, self-services and bars to size. SERHS Corporate managements: SERHS ICT (Migjorn): new technologies, computer applications and telecommunications systems. Human resources Insurance Administration and Finance Real estate services
BRANDS:
Migjornser Human SERHS Asseguris SERHS Projects SERHS Equipment
Significant figures 2,400
68,531 42,628
TECHNOLOGY UNITS MANAGED
SALARIES CALCULATED IN ONE YEAR
5,683
1,000
ACTIVE INSURANCE POLICIES
MACHINES SOLD EVERY YEAR
HOURS OF TRAINING MANAGED
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SERHS Projects: Important projects SEVERAL projects have been carried out by SERHS PROJECTS, dedicated to equipment and solutions for hospitality and communities. The most important have been the reformation of the kitchen for the first team of Futbol Club Barcelona and the Ciutat Esportiva Joan Gamper, the reformation of the kitchen of the Vilafranca del Penedès fire brigade and the equipping of the new washing area in the kitchen of the restaurant of the Caixa Forum in Barcelona. Specifically in projects in hotels, the refurbishment of the kitchen and staff dining room at Aqua Hotel Aquamarina in Santa Susanna, an innovative major refurbishment (520 m2). Also the kitchen and the design, supply and installation of buffets of the dining room of the Hotel Sa GHT Riera de Tossa de Mar. And at the Silken Gran Hotel Havana in Barcelona the supply and assembly of the dining room buffet.
Asseguris, Partner broker of Axa
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Asseguris opens new offices THE NEW OFFICES, completely open-plan and with an area of 130 m2, house the nine brokerage professionals. Under the motto “If you want to be calm, Asseguris” the company has launched a new campaign (radio and written press) where they want to emphasize their close treatment and clear customer orientation. Asseguris has a wide variety of products in different areas: SMEs, home, health, car, life and civil liability.
ASSEGURIS HAS RECEIVED the recognition of Axa, the global insurance company, as a partner broker. This entails a number of advantages, such as a preferential attention in response time and quotations, total connectivity through the management programme, direct access to technicians in charge of the area, a master salesperson assigned and face-to-face and on-line training to all Asseguris staff by Axa. EVERYTHING will mean advantages for our customers, who will enjoy large discounts, become preferential customers, have advantages in processing claims, including the possibility of a second survey in case of disagreement, etc. It also gives us added value as brokers.
SERHS ANNUAL REPORT 2015-2016
THE OPENING OF THESE NEW PREMISES coincides with a time of growth in SERHS brokerage. An indicator of the success of Asseguris is the density of policies per customer. While on the market this indicator stood at 1.5, in Asseguris it rose to 2.15. On the other hand, Asseguris has 19.20% of comprehensive customers (3 or more policies taken) against the 15% market average.
www.serhs.com
IP Voice
With respect to online sales of machinery, the SERHS Projects website has a new outlet section for machinery and furniture for hospitality which has been very well received.
More Projects In the sector of restaurants SERHS Projects has carried out reforms in various establishments of Grandvalira (Andorra), such as the extension of the L’Albarset restaurant, the new kitchen of the groups area and extension of the show cooking restaurant La Trattoria in Riba Escorxada. In Grau Roig a new kitchen has been equipped in the 3 Estanys Restaurant, the Coll Blanc Restaurant and the new Piolets food hut.
Significant figures of ICT MIGJORNSER’S MAIN OBJECTIVE in 2016 was to ensure the operation of all divisions with regard to technological aspects. Each passing year increases the dependence of business on technology and that makes the volume of our operations increasingly higher. In 2016, Migjornser managed more than 400 servers with a total of 51 terabytes of storage space, 50% of which are already operating in the different Clouds we manage. It received nearly 14,000 consultations, requests and incidents generated from more than 2,000 group computer users. Communications have become vital in everyday life, whether connecting the almost 100 nodes that for the MPLS network of the group (offices, warehouses, hotels, etc.) or giving mobility to the 2,600 workers who need it. Also noteworthy are the 17,000 hours of development carried out with internal technicians to improve the computer tools (software) or to make new.
2016 WAS THE YEAR of cultural change with respect to fixed communications. The concept of landlines (the typical table-top units) has changed for a new concept phone based on VoIP, which provides mobility, allows the collaboration and gives us great flexibility. The VoIP project eliminates the traditional telephone switchboard and replaces it with a unified switchboard in the Cloud. Desktop phones are replaced by software installed on the PC or an app on the mobile phone with the same functions as before (call, take calls, pass them to a partner, etc.) and others like “leading” the extension fixed on it, wherever you are, setting up conference calls easily with 3 or
more people, having a unified and updated directory and extensions to be located more easily, etc. TO THIS SIGNIFICANT COST SAVINGS SHOULD BE ADDED; Currently delegations that already have the new system are reporting savings of 23% on average compared to the traditional system. THIS PROJECT IS GLOBAL IN SCOPE throughout the Group; This involves changing 1,000 extensions over 34 centres and the aim is to have it completed in December 2017. At the end of 2016, 44% (15) of its total and 25% of the extensions (250) had already been migrated.
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Economic-Financial Information 46
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PRESENTATION
T
hi s economic and financial information for the year ended at 31 August 2016 which we provide in the following has been prepared from the accounting records of the Grup SERHS, SA and its subsidiaries in order to display the true and fair image of the assets, financial situation and results of the Consolidated Group. These consolidated figures are backed by the audit of the Faura-Casas Auditors-Consultors firm and, as is clear from their opinion attached later, the annual accounts for the financial year 2016 express the true image of the consolidated equity and consolidated financial situation of Grup SERHS and its subsidiaries and the results of its operations. In this dossier, you can find:
CONSOLIDATED ANNUAL ACCOUNTS OF THE GROUP
Financial statements (Balance Sheet and Profit and Loss Account) Auditors’ report CONSOLIDATED INFORMATION Different analyses of important aspects of the economic and financial situation.
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Grup Serhs Consolidated Annual Accounts
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GENERAL EXPLANATION
F
or the effects of drawing up the Annual Accounts of the GRUP SERHS, SA and subsidiaries (Consolidated Group), We must bear in mind that the Group is formed by 45 active companies, which have the following composition grouped in operative business divisions:
SERHS DISTRIBUTION SERHS TOURISM & HOTELS SERHS Tourism SERHS Hotels SERHS FOOD SERHS SERVICES AND NEW TECHNOLOGIES SERHS REAL ESTATE SERHS EQUITY AND PORTFOLIO
2 Companies 13 Companies 3 Companies 10 Companies
9 Companies 9 Companies 7 Companies 5 Companies
During 2016 we have reduced the number of companies in the perimeter from the 56 companies in the previous year to the 45 with which we closed this year. This reduction was mainly caused by the merger of the SERHS DISTRIBUTION Division, from 10 distribution companies to a single one (SERHS DISTRIBUTION & Logistics SL). The rest of the movements lie in the sell-off of Vector-K, SA (SERHS SERVICES) and Itinereser, SL (merged with Pastuiraser, SL within the Division of SERHS Hotels, SL). However, there has been movement between the different divisions caused by the process of rationalising the number of companies belonging to each division, as well as increased business in some divisions. In application of current regulations as a result of the different percentages of participation in companies of the consolidation perimeter, this year we have used different consolidation procedures, which are: • GLOBAL INTEGRATION method (Companies with a participation of over 50%). Consolidation method used in 2016 for all companies of the Group, mentioned above. •
PLACEMENT IN EQUIVALENCE method (Companies with a participation of 20%-50%) Companies that have been consolidated by this method in 2016: “Viatges Sol i Esquí, SA” (Travel agency), and “Baciverser, SL” (Real Estate Company)
The Group’s functional currency is the euro. As a result of the Group’s recent internationalisation process, Brazilian companies have joined the Group within the consolidation perimeter and transactions have also increased with foreign customers and suppliers who use other currencies outside the euro. This means that our group is currently working with three different currencies: • • •
Euros (EUR).- The main working currency of our companies Dollars (USD).- The currency in which some transactions are made with countries outside the EU Brazilian Reals (BRL).- The main working currency of our companies in Brazil
The fact of working in different currencies and using different accounting criteria makes the consolidation process more complex because we have to transform the financial statements in currencies other than the functional currency of the Group, which is the euro, and this can generate exchange differences with implications on both equity level and profits due to exchange differences on transactions. Since 2010 Grup SERHS has paid tax in the tax consolidation system, with a total of 40 subsidiary companies in the consolidation perimeter during the year 2016 for Corporate Tax and 40 subsidiaries for VAT.
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INDEPENDENT AUDIT REPORT OF CONSOLIDATED ANNUAL ACCOUNTS
To the shareholders of GRUP SERHS S.A. Report on the consolidated annual accounts We have audited the attached annual accounts of Grup Serhs, S.A. and subsidiary companies, which included the consolidated balance sheet at 31 August 2016, the consolidated profit and loss sheet, the consolidated statement of changes in total equity, the consolidated cash flow statements and the consolidated report corresponding to the financial year ended on this date. Responsibility of the directors regarding the consolidated annual accounts The board director is responsible to prepare the attached consolidated annual accounts, so that they show a true and fair image of the equity, the financial situation and the consolidated results of Grup Serhs, S.A. and subsidiary companies, in accordance with the legal framework of the financial information applicable to the group in Spain, identified in note 2.2 in the attached report, and the internal control they deemed necessary for the preparation of the consolidated annual accounts free of material misstatement, due to fraud or error. Auditor’s responsibility Our responsibility is to express an opinion of the attached consolidated annual accounts based on our audit. We conducted our audit in accordance with the regulations of the audit in force in Spain. These standards require that we comply with ethical requirements, as well as to plan and perform the audit in order to obtain a reasonable assurance about whether the annual accounts are free of material misstatement. An audit requires the application of procedures to obtain audit evidence about the amounts and the information disclosed in the consolidated annual accounts. The procedures selected depend on the auditor’s judgment, including the risk assessment of material misstatement in the consolidated annual reports, due to fraud or error. When making this risk assessment, the auditor takes into account the internal control relevant to the preparation by the entity of the consolidated annual accounts, in order to design the audit procedures that are appropriate depending on the circumstances, and not with the aim to express an opinion on the effectiveness of the entity’s internal control. An audit also includes the evaluation of the applied accounting policies and the reasonableness of the accounting estimates realized by the management, as well as evaluating the presentation of the consolidated annual accounts taken as a whole. We consider that the audit evidence we have obtained provides us a sufficient and appropriate base for our audit opinion. 2
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Opinion In our opinion, the attached consolidated annuals accounts, express in all significant aspects, a true and fair image of the consolidated equity and consolidated financial situation of Grup Serhs, S.A. and subsidiary companies at 31 August 2016 as well as the consolidated results and consolidated cash flows corresponding to the year ended on this date, according to the applicable regulations of financial information and particularly the accounting principles and criteria included there. Emphasis paragraph We make mention of what indicated in note 1 of the report, which reports that in the year under review, the merger process has taken place by absorption by Serhs DistribuciĂł i LogĂstica S.L. (up to the previous year Distribuidora del Baix Maresme S.L. ), as absorbing company, with the companies Central de DistribuciĂł Hotelera Serhs S.L., Cobrama S.L., Coratama, S.L., Dimarser, S.L. Eudivasa S.L., Facilcar, S.L., Ponentser, S.L., Portpares, S.L. i Traumntanaser S.L., as absorbed companies, has been made. This issue does not change our opinion. Report on other legal and regulatory requirements The attached consolidated management report closed at 31 August 2016 contains the explanations that the Administrators of the company consider appropriate about the situation of Grup Serhs, S.A. and subsidiary companies, the evolution of their business and other matters, and does not form an integral part of the consolidated annual accounts. We checked that the accounting information contained in the mentioned management report is consistent with the information of the annual accounts for the financial year ended at 31 August 2016. Our work as auditors is delimited to checking the consolidated management report in accordance with the scope mentioned in this paragraph and does not include reviewing other information obtained from the accounting records of the company Grup Serhs, S.A. and subsidiary companies.
Barcelona, December 16, 2016 Faura-Casas, Auditors-Consultors, S.L. ROAC No: S0206
Jordi Casals Company
3
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CONSOLIDATED BALANCE SHEET
ASSETS
31-08-2016
31-08-2015
172,400,956.32
181,200,206.06
17,994,552.90
18,066,337.57
II. Tangible fixed assets
108,700,176.89
125,886,299.68
III. Property investments
12,468,527.27
6,390,084.17
572,672.99
574,208.56
A) NON-WORKING ASSETS I. Intangible fixed assets
IV. Long-term investments in group and associated companies V. Long-term financial investments
9,860,404.17
8,914,396.96
VI. Assets due to deferred tax
11,885,233.70
10,449,490.72
VII. Consolidation Goodwill
10,919,388.40
10,919,388.40
118,432,773.04
121,347,481.37
B) WORKING ASSETS I. Non-working assets held for sale
25,797,291.96
5,224,155.73
II. Stocks
14,551,948.82
18,810,862.26
III. Commercial debtors and other accounts receivable
67,906,238.50
79,863,244.09
IV. Short-term investments in group and associated companies
0.00
0.00
V. Short-term financial investments
6,698,346.01
6,809,498.47
VI. Short-term deferrals
2,313,334.22
2,631,698.29
VII. Cash and other equivalent liquid assets
1,165,613.53
8,008,022.53
290,833,729.36
302,547,687.43
31-08-2016
31-08-2015
68,058,826.82
67,857,284.23
TOTAL ASSETS (A+B) LIABILITIES A) NET EQUITY A-1) Stockholders’ equity A-2) Adjustments for changes in value A-3) Subsidies, donations and legacies received A-4) Minority interests B) NON-WORKING LIABILITIES
I. Long-term provisions II. Long-term debts III. Long-term debts with group and associated companies IV. Liabilities due to deferred tax V. Long-term deferrals
C) WORKING LIABILITIES I. Liabilities related to nonworking assets held for sale II. Short-term provisions III. Short-term debts IV. Short-term debts with group and associated companies V. Commercial creditors and other accounts payable VI. Short-term deferrals VII. Short-term debts of special characteristics TOTAL NET EQUITY AND LIABILITIES (A+B+C) Data expressed in euros.
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77,193,610.79
79,719,110.22
-16,764,701.23
-18,949,364.25
0.00
0.00
7,629,917.26
7,087,538.26
78,555,704.66
88,756,887.29
0.00
0.00
77,960,284.19
88,161,466.82
0.00
0.00
595,420.47
595,420.47
0.00
0.00
144,219,197.88
145,933,515.91
0.00
0.00
50,515.09
0.00
34,809,291.88
27,631,454.83
0.00
0.00
109,249,369.49
118,217,877.34
110,021.42
84,183.74
0.00
0.00
290,833,729.36
302,547,687.43
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CONSOLIDATED PROFIT AND LOSS ACCOUNT
31-08-2016
31-08-2015
Operation income
452,491,088.61
471,840,053.88
a) Net turnover
434,694,257.13
452,434,028.99
a1) Sales
374,037,883.06
391,896,533.61
60,656,374.07
60,537,495.38
17,796,831.48
19,406,024.89
15,875,238.18
17,781,243.78
0.00
0.00
1,921,593.30
1,624,781.11
ONGOING OPERATIONS
a2) Services b) Other operating income b1) Accessory operation income b2) Subsidies b3) Work on fixed assets Supplies a) Goods consumption
-324,885,269.70 -339,272,039.78 -324,661,945.86
-339,085,441.81
-181,485.45
-158,910.95
-41,838.39
-27,687.02
-75,188,551.98
-76,485,973.05
a) Wages, salaries and similar
-58,939,625.20
-59,840,221.64
b) Company charges
-16,248,926.78
-16,645,751.41
-38,019,239.35
-39,623,906.55
-34,507,312.66
-36,006,087.40
-2,717,184.53
-3,080,269.84
-792,066.75
-534,698.74
-2,675.41
-2,850.57
-9,559,170.23
-10,196,488.75
0.00
0.00
Deterioration and result due to sell-off of fixed assets
2,776,208.06
3,277,595.79
OPERATION RESULT
7,615,065.41
9,539,241.54
461,073.23
690,905.11
Financial expenditure
-5,844,205.81
-8,170,065.56
FINANCIAL RESULT
-5,383,132.58
-7,479,160.45
0.00
0.00
2,231,932.83
2,060,081.09
509,172.01
144,797.01
2,741,104.84
2,204,878.10
0.00
0.00
2,741,104.84
2,204,878.10
c) Work done by other companies d) Deterioration Staff expenses
Other operation expenditure a) External services b) Taxes c) Losses, deterioration and variation in provisions due to commercial operations d) Other current management expenses Fixed asset amortisation Provision surpluses
Financial income
Participation in profits (losses) of companies placed in equivalence PRE-TAX RESULT Tax on profits YEAR RESULT FROM ONGOING OPERATIONS INTERRUPTED OPERATIONS YEAR RESULT Data expressed in euros.
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OPERATION INCOME
Consolidated information INVESTMENT ACTIVITY The current circumstances in our environment makes us cautious when making our investments, without stopping those that we consider indispensable for the future growth of our business. The volume of investment made by Grup SERHS during 2016 was a total of about 9.2 million euros. Some highlights are the 3.5 million euros invested in building the High Output Kitchen (CAR) that the SERHS Food Division made in Mataró, and which will be completed during the next year. The rest correspond to recurring investments (new technologies, applications management of our business, renovation of the fleet of vehicles, computer equipment, improved hotel and store facilities, among others)
The consolidated operation income for the year ended at August 31, 2016 represented a decrease of 4.10% over the previous year, which highlights the fall in the SERHS Tourism Division by 12.10% over the previous year. We break down this figure for the various divisions of the Group below, the case of Division SERHS Tourism & Hotels breaking down as follows: Division 31/08/2016 31/08/2015 Serhs DISTRIBUTION 184.791 177.687 SERHS TOURISM & HOTELS SERHS Tourism 183.882 209.212 SERHS Hotels 32.260 33.388 Serhs Food 44.962 44.653 OTHERS (Services and Equity) 6.596 6.900 TOTAL 452.491 471.840 Data in thousands of euros.
We now present the weight of each of the divisions inside the overall consolidated income of the Group. OPERATION INCOME BY DIVISIONS
9,94%
Having analysed the investment activity in 2006 by operative divisions of the Group, it is seen to break down as follows: INVESTMENT 2016 BY DIVISIONS
(Thousands €)
SERHS DISTRIBUTION SERHS TOURISM & HOTELS SERHS Tourism SERHS Hotels SERHS FOOD SERHS SERVICES, REAL ESTATE AND PORTFOLIO
25,39% 12,00%
2,95%
46,75%
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SERHS ANNUAL REPORT 2015-2016
1,46%
1.339 1.245 4.849 306 10.372
12,91%
54
2.633
7,13%
40,64%
40,84%
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CONSOLIDATED INFORMATION We must insist once again on the importance of the team of Grup SERHS, as thanks to their active participation and their daily work we can continue to improve our products and services and remain in a leading position. The evolution of this in recent years, taking the twelve-month period, has been:
PERIOD
Average Payroll
2012 2013 2014 2015 2016
2.500 2.524 2.529 2.490 2.263
The contribution to national income, understood as an indicator of prosperity not only of people forming part of the Group, but of our country as a whole, for the Group has always been a priority for attention. Its evolution in recent years has been as follows:
YEAR
2011 2012 2013 (January-August) 2014 2015 2016
Thousands of euros 88,60 82,96 57,85 84,76 81,63 80,14
The table below shows the evolution both of the Results and of the Cashflow and EBITDA of 2016 with respect to the previous year.
Years EBITDA Gross ordinary result Amortisation Operation result Financial Pre-tax profit Amortisations Cash flow
2016 2015 17.174 19.735 17.174 19.735 -9.559 -10.196 7.615 9.539 -5.383 -7.479 2.232 2.060 9.559 10.196 11.791 12.256
Figures in thousands of euros
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