IBERSOL | Integrated Management Report - 2024

FINANCIAL YEAR ACTIVITY Angola’s macroeconomic context continues to be conditioned by the evolution of the Kwanza against the main international currencies (USD, Dollar and Euro), as well as by inflation, which causes the ma- jority of the population to lose purchasing power. Exchange rate fluctuations occurred in two stages: one of devalua- tion, which was more pronounced until mid-2024, and a second of appreciation and even stabilisation towards the end of the year. Inflation remains high at close to 20 per cent at the end of the year. Despite this context, we opened a new Pizza Hut restaurant with table service at BelaShopping in Talatona, which emphasises the im- portance the brand attaches to its development in Angola. With a view to counteracting the economic difficulties faced by our consumers, we continued to invest in a strong promotional compo- nent, with the Value approach being fundamental to meeting the challenges. In this context, Pizza Hut reinforced its promotional plan with the “Family” and “Boss” menus and the “2x1”, “Take away” and “Super slice” campaigns. Our digital and social media presence continues, with our presence on Facebook and Instagram having been consolidated. In the area of training and people development, the brand continued to develop the training plans and skills of employees in the Manage- ment Teams and to identify potential for internal development, with a new team having been formed to set up the new Pizza Hut Belas Shopping restaurant. In terms of customer satisfaction and evaluation, this stood at 93 per cent, the Assured Costumer Experience (ACE) audits reached 100 per cent and the restaurant renewed its ISO 22000 certification. As part of its social responsibility initiatives, it once again took part, together with the KFC brand, in the “AD HOPE” social support initia- tive against hunger. ANGOLA 42