Memòria de Sostenibilitat 2017

Financial results

During 2017, it has been developed in a macroeconomic context, characterized by a sustained grow for the fourth consecutive year, and has located in a 3,1% of PIB, which we can describe as significant and it has allowed, in general, to achieve the improvement of the level our services, occupations and visitors of the facilities, in the activities set managed by BSM.

The unfortunates and serious events of the past august and the agitated political situation that have been placed during the last trimester of the year, has affected of unequal way at the different activities managed by BSM.

In this context, the services related to the mobility, presents a positive evolution of the activity in Parking, Bicing and Zona Bus and a negative evolution in AREA and Towing Service, related at the leisure services, the evaluation is positive in Parks and Barcelona’s Olympic Ring, and negative at Barcelona Zoo, affected by the building site that has taken place at this moment.

The 2017 exercise, can be qualificated as a satisfactory, taking into account the indicated context, both by the evolution of the different activities and services that BSM develops, as to the obtained results.

The exercise incomes, have situated in 130,8 million of euros (129,6 million of euros in 2016) and the operating expenses in 117,8 million of euros (112,6 million of euros in 2016).

The operating profit is situated around 13.0 million of euros (17.0 millions of euros in 2016), given that, the expenses have increased more than the incomes in 4,0 million of euros.

The exercise result, present a benefit of 12,6 million of euros (17,4 million of euros of the 2016 exercise).

 

INVESTMENTS 

The investment execution, financed by BSM has ascended to 9,2 millions of euros, and then executed by the order and financing by the City Council, by import of 2,2 millions of euros, resulting in a total of executing investment of 11,5 million of euros.

Balance and individual account results of B:SM


EVOLUTION OF INCOME 

The evolution of income, in thousands of euros, by activity is as follows:

The 2017 exercises presents an increase of the total incomes of 0,9% repeat 2016.

The operating income’s of Parkings have increased in a 5,4% as a result of the increase of the incomes in all their modalities of rotation and pupilage.

The income of the AREA Municipal Service, decreases by 3.2%, as a result of the decrease 5% of places in the Zona Blava and a reduction in the use of the Blue Zone Tourism.

The Municipal Crane Service presents a 0.5% decrease, due to the reduction in the number of vehicles charged with 2.9% and the increases in revenue from detachments, scrap sales...

In both municipal services it is necessary to indicate the evolution of the tariff of taxes that present a freezing of rates in the AREA from 2009 to 2017, except for the 2012 and, in the case of the rates of GRUA, a freezing in the same period with the exception of a 2% tax deduction in the 2012 financial year.

The revenue generated by the Bus Station activity has increased by 1.8%, due to the increase in regular scheduled barges in all sections. The number of buses that have used the Park Güell Logistics Platform also have increased.

The individual public transport service with bicycles (Bicing), is owned by the City Council of Barcelona and is managed by BSM by order of management.

In the 2017 financial year, the revenues of the users of the individual public transport service by means of bicycles (Bicing) totaled 6,259 thousand euros (5,862 thousand euros in 2016), which represents 6.8%, mainly due to the income of Bicing-Mecanic, and to a lesser extent, Bicing-Electric is 2016 the first exercise of complete activity.

The revenues of the Zoo have been reduced by 9.4%. During the year 2017 the Zoo was visited by 870,370 people, 13.6% less than the previous year, basically due to the state of the mentioned works and events. The number of Zoo Club members has dropped by 19.9%.

The income level of the Barcelona Olympic Ring has decreased with respect to the previous one, 14.4%, as there has been less activity in the two most important facilities, the Olympic Stadium and the Palau Sant Jordi, given the exceptional activity of the 2016 financial year, as well as the unforeseen cancellation of some concerts.

The revenue from the management of the Park Güell's monumental area has increased by 3.8%, given the increase of visitors by 5.5%. In this financial year 2017 a total of 2,988,616 paying visitors has been entered, compared to 2,802,414 of 2016.

In the Park Fòrum and Park Montjuïc, revenues have dropped by 9.2%, given that more discounts have been made in the most important events and fewer films have been made in the facilities of the Park Fòrum.

At the end of 2017 exercise, the Company manages indirectly other services and municipal activities, through participation in other companies.

The detail of the companies that make up the Barcelona Group of Municipal Services and which form part of the consolidation scope is as follows:

Outside of the consolidation scope, we have other minority participations in the following societies:

As a result of all this, consolidation has been done through the global integration method of companies that are within the scope of consolidation and has a majority domain, that is, a participation greater than 50%. And on the associated companies (participation, greater than 20% and less than 50%), the equity method was applied.

Balance sheet and consolidated income statement of B:SM and dependent companies


PREDICTABLE EVOLUTION OF THE COMPANY

In the macroeconomic context and given the strong growth in the year 2017, 2018 is expected to present a slight moderation in growth that will continue to improve the level of services provided, occupations of facilities and visitors, in all the activities managed by BSM, although with unequal expectations according to different activities.

In terms of costs, they are expected to increase, respect to 2017, given the expected cost of actions to improve and conserve the architectural heritage and in the surroundings of Park Güell, as well as other repairs to maintenance and improvement and the increase of the staff costs.

As a consequence of the evolution indicated in the income and expenses, it is expected that the 2018 result in the set of managed activities will decrease compared to this year 2017.

The investment action total budgeted for 2018 ascends to 33.1 million euros. As a own BSM investment, a total of 24.8 million is expected, of which 10.6 million euros correspond to the AREA's activity for the renovation of the parking meters. As an investment commission of the City Council, a total of 3.3 million euros is forecast, of which 1.1 million euros correspond to the Integral Reform of the Zoo and 2.2 million euros to the gardens of Menéndez Pelayo. And, a total of 4.8 million euros of works will be as spent, among which the continuation of the remodeling of the Park Güell environments stands out for an amount of 2.9 million euros.

 

 

GRI References: G4-17,G4-DMA, G4-EC1

 
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