Our aim is to be an all-round parking services provider that provides financial stability in combination with operational flexibility. Budget discipline and a company-wide focus on increasing the operational free cash flows is part of this. By exchanging best practices, engaging in new and promising relationships, increasing our market share in selected cities and continuing to reduce financing costs, as well as concentrating on cost management and return on investment, we want to sustainably increase the operational result and net result.
What we have achieved
- The revenue increased by 2 percent compared to 2015 and came out at EUR 825.0 million.
- The net result grew from EUR 90.9 million in 2015 to EUR 128.9 million.
- The cash flow from operating activities increased to EUR 202.8 million (2015: EUR 193.9 million).
We are perfectly on schedule with the four-year plan that our shareholders approved in 2015.
More information on other key figures such as the balance sheet, cash flows, business volume and shareholders' result can be found in Key figures.
(x EUR million)
Cash flow from operating activities
(x EUR million)
(x EUR million)
Net bank debt / EBITDA
For more detailed financial information we refer you to the Annual Accounts or directly to the consolidated balance sheet, the overview of the consolidated comprehensive income, the movements in the consolidated shareholders' equity and the overview of the consolidated cash flow on our annual report website.
Pre-booking a parking space online is becoming more important. There are many digital channels through which customers are informed about travel options. As customers are becoming more demanding when pre-booking, we launched a digital platform to meet their expectations. The percentage of parking revenue generated by pre-booked parking spaces has been increasing since the launch.
Revenue generated by pre-booking
In 2016, Q-Park France further improved its pre-booking website by making it mobile responsive so it is fast and easy to use on smartphones and tablets. New functionality added includes purchasing season tickets. The booking confirmation sent includes a QR code for display on the smartphone screen to easily enter the car park. All these improvements make it easier for customers to pre-book a parking space, increasing their mobility and flexibility, and saving them time.
Investment potential of car parks
Catella recently conducted a study into the multi-storey car park market, analysing the market structures currently in place. They believe that although multi-storey car parks have barely been on investors’ radars, ongoing yield compression of traditional property investments is changing all that. They conclude that with a glance at the initial market structures, it is highly plausible that institutional investors would be able to diversify their portfolio with an investment in multi-storey car parks, achieving significant yields. The trends towards car sharing, electric cars and highly automated driving do not pose any disadvantages in terms of investments in multi-storeys. On the contrary, they will boost demand for paid parking. The clear excess demand strengthens the market power of the operators and will generally enable higher prices. The operating risk of the car park investor can therefore be classed as limited, due to the simple business model. Even in the case of operator insolvency, the cash flow will not necessarily come to a halt.
Source: Extract of Market tracker, Catella, 2016