IBERSOL | 2019 Annual Report

2019 ANNUAL REPORT Pans & Company in Portugal rea- ched the end of 2019 with 50 units (44 Pans & Company restaurants and six Café Pans kiosks). During the year, and in kee- ping with the renovation of the restaurant’s look, Pans remodel- led another 12 units. At the end of 2019 a total of 39 of the brand’s restaurants already sported the new Pans & Company look which, besides a new sales point image, includes an offer of a wide range of cafeteria and pastry products, prepared daily in the restaurants themselves. The investment in the cafeteria segment was bols- tered by the conversion of three café stands, operated by the Iber- sol Group, into autonomous sales points operated under the Cafe Pans brand, the Pans brand which has the expertise in this segment. 2019 also sawPans &Company en- ter the home delivery segment in partnership with aggregator pla- PORTUGAL tforms and the consolidation of an agreement with the Sonae Group, which introduced the brand to the Continente Card loyalty program- me, as well as a number of cam- paigns to launch new products (Street Pans, Vertigo Flavours and Veggies & Vegans), supported by investment in above the line communications media so as to strengthen brand notoriety and its leadership position in its segment. During the year the brand also strengthened its partnership with the Continente Card, launching Menu10, an Ibersol Group loyalty programme based on the Conti- nent Card APP, with unique and differentiating promotional ad- vantages. With regards to Social Responsi- bility, Pans participated in various community outreach projects, in- cluding the “Thanks to Many” ini- tiative, in partnership with the Por- tuguese Federation of Food Banks. 75