Q-Park's prospects are excellent. Our financial position is good and we have pleasing recurrent revenues and profitability. The internal split strengthens this good starting position by creating increased transparency and responding to demands from the financial markets.
The final decision as to whether we will continue as two separate companies will be made in three years' time. Until that moment, Opco and Propco maintain a close relationship and are both housed under one roof with joint Executive and Supervisory Boards. Nevertheless, the proposed split will still have a significant impact on our organisation; because the focus of Opco and Propco will shift and differences will arise in market approach.
The parking company will concentrate on expanding parking services and earnings growth through economies of scale, strategic pricing policy and by providing effective products and services. The property company will make maximum use of the opportunities to invest in parking property and increase the value of this investment property by having it operated effectively.
By using innovative payment, access and online systems, deploying comprehensive city concepts, and improving direct and indirect customer contacts, we can provide higher quality and more efficient services to municipalities and other clients.
We already have many of the competences required to consolidate and expand Q-Park's position in the coming years in house. Nevertheless, we will explicitly present ourselves as attractive employer in the labour market, to ensure that we can attract and retain the right expertise.
Our primary ambition for the coming years remains providing quality and innovation for our customers. This is what characterises and distinguishes us and forms the foundation for our growth ambitions for the future. In addition to growth from new contracts, we will continue to work on realising a healthy return on investment through new management types, further optimisation of digital payments and the efficiency of our operational company.
In all this we make use of the economies of scale, but also of the parking expertise we have in the four clusters. By translating business cases from the cluster North, for instance, about parking supervision and enforcement, to the rest of Europe, we can learn from each other. This increases our distinctive strength.
Prospects to 2020
- Q-Park is the knowledge institute concerning strategies for applying optimum parking tariffs.
- Transparency in actual costs. Parking tariffs will be dynamic; they will be based on actual costs and value.
- All known, often recurring customers will receive a digital invoice or will pay in advance online.
- Q-Park is the most attractive parking partner because of our special services which we tune to the various locations and because of our ‘Smart City Concepts’.