Details on the data presented by the INDIGO Group
As part of its communication through various media such as its website www.indigo-group.com, Indigo Group S.A. (the “Company”) presents consolidated financial, operational, HR and environmental data under different formats or perimeters. These differences, motivated by the desire to give a more complete view of the activities of the INDIGO group (the “Group”), are linked in particular to the existence of joint-ventures, companies in which the Group holds a significant share of the capital of no more than 50% and over which it does not exercise exclusive control. These joint ventures are mainly located in the United States (with LAZ Karp Associates LLC – “LAZ Parking” – held at 50% until 30 December 2021, when the Group sold its stake to its co-shareholder), in Colombia (with City Parking SA held at 50%), in Switzerland (with Parking du Centre – Flon S.A. – previously named Indigo Suisse S.A. – held at 50%), in China (with Sunsea-Indigo Development JV, held at 40%), in Belgium (with ParcBrux held at 50%), or in France (with Smovengo S.A.S., held at 40.49%) ; a full list of consolidated joint ventures can be found in the notes to the Company’s consolidated statements.
This note summarizes the way in which this subject is dealt with in the Group’s various communication media. For more details, the reader is invited to refer to the relevant materials and in particular to the notes to the Company’s consolidated financial statements and to its non-financial performance statement (the Déclaration de Performance Extra-Financière or “DPEF”).
The Group’s statutory consolidated financial statements are prepared in accordance with IFRS, with joint-ventures being consolidated using the equity method. In order to provide a more economic view of the substance of the Group, the Company also reports certain financial data (such as revenue, EBITDA and net debt) under a “Global Proportionate” format, which is defined as IFRS consolidated data adjusted for the Group’s share of the contribution of its activities in the joint-ventures, as if the joint-ventures were proportionately consolidated.
The Group presents certain operational data (such as the number of countries and cities in which it is present, or the number of parking spaces and car parks managed) on the basis of a global view that includes 100% of the data relating to the joint-ventures, as if they were fully consolidated and not accounted for using the equity method or proportional consolidation, as the data concerned is difficult to reduce to the Group’s share in the joint-ventures.
Headcount is recorded in full, including for joint-ventures, on the basis of a global view integrating 100% of the data relating to joint-ventures, with the exception of China and, from the 2021 financial year, Smovengo in France and, given the aforementioned disposal, LAZ Parking. As indicated in the notes to the Company’s consolidated financial statements and in the DPEF, the total number of Group employees at 31 December 2021 was 6,774, of which 6,089 were employed by companies controlled by the Group and 685 by joint-ventures.
The DPEF includes various other data of a HR nature and specifies for each the scope used if it is different from that indicated above.
Until the 2020 financial year, the Company’s environmental reporting was based on data from the 6 countries in which it can directly make investments in favor of the environment (countries covered by the so-called infrastructure model) and which were of significant size (with a turnover of more than €10 million), i.e. Belgium, Brazil, Canada, France and Luxemburg and Spain.
As of the 2021 financial year, the scope of reporting has been extended to all controlled subsidiaries of the parking division, i.e. a total of 8 countries, with Poland and Switzerland added to those previously mentioned. The Colombian subsidiary City Parking, which is 50.0% owned, uncontrolled and unconsolidated, remains excluded from the environmental reporting.