IBERSOL | Integrated Management Report 2022

INTEGRATED MANAGEMENT REPORT 2022 In order to allow for comparisons with other companies from this sector, and with previous financial years, the Group uses operational perfor- mance indicators, as mentioned throughout this section, whose defini- tions can be found in the glossary. Following the sale of Burger King operations in Portugal and Spain at the end of November, the activity of subsidiaries Iberking Restauração S.A. and Lurca S.A.U are reported as “Discontinued Operation” with re- gards to financial information reporting. Sales and Provision of Services The beginning of the year was still affected by the predominant Omicron strand of Covid-19, with the resulting slowing of the pace of recovery of the effects of the pandemic, as well as the impact of the military conflict in Ukraine, and a worsening of world geopolitical tensions that posed significant challenges to the Group’s brand portfolio. This context of uncertainty and instability led to a disruption of supply chains, an acceleration of inflation rates in the food products, energy, and transport sectors, with the respective impact in Ibersol’s cost struc- ture, as well as a breakdown of consumer trust. Despite the demanding context, the Group registered solid growth when compared to the same period of 2021, which had been marked by lockdown and travel restrictions, which translated into a 49.3% growth of consolidated business volume in 2022 (including 11 months of the discontinued operations), for a total of 533.7 million euros, compared to 357.3 million euros in the same period of the previous year (with 12 months of the discontinued operations). In 2022 the business volume of the “Discontinued Operations” present- ed a growth rate of 16.1% for the 11 months during which Iberking and Lurca operated, compared to all of 2021. Consolidated financial performance 141