IBERSOL | Annual Report 2020

Consolidated Financial Performance To allow comparison with other companies in the sector and previous financial periods, the Group uses operational performance indicators, as mentioned throughout this section, the definition and explanation of which can be consulted in the glossary. Sales and rendered Services Consolidated business volume amounted to 288.9million Euros by the end of the period, compared to 485.4 million Euros in 2019, which equals a 40.5% reduction. Turnover (euro million) 2020 2019 Var. Sales of Restaurants 281,9 469,5 -40,0% Sales of Merchandise 5,8 12,3 -53,0% Services Rendered 1,2 3,6 -66,0% Turnover 288,9 485,4 -40,5% CONSOLIDATED FINANCIAL PERFORMANCE The beginning of 2020 showed promising signs in restaurant sales, with growth rates above 15% until mid-March. The development of the Covid-19 outbreak in early March brought about an immediate and brutal drop in demand in the restaurant business in all regions, which culminated in the closure of 73% of restaurants and losses of up to 50% in restaurant sales, following the decision to declare a state of emergency following the second week of March. 22