The SERHS Group is a Catalan corporation present on three continents, formed by 74 active companies, an average payroll of 2,394 workers and a shareholding base of 1,322 partners, a third of whom are workers in SERHS. We are qualified as the “leading tourist group in Catalonia”, placing us among the leaders in the Spanish State.

Throughout more than 30 years of history, we have gathered great experience, which as woven our know how and shaped a strong organisational structure with the basic pillars of the human side, the economic management and the social environment. Today, this allows us to project our business culture beyond our frontiers.



FUNDAMENTAL PRINCIPLES

Our corporate philosophy includes strong principles and action values that on the institucional and operative level make up our identity:

• Honesty, confidence, loyalty.
• Continuous improvement, value creation and innovation.
• Respect for people.
• Sense of responsibility.
• Leadership vocation.

The essential values in our business action must be found in the vocation:

• Of offering a comprehensive service, greater competitiveness and specialisation, and the maximum satisfaction of our customers.
• Of making use of our synergies and capacity to deal with national and international expansion projects.

THE MISSION

To continue improving in order to offer goods and services, basically to the tourism, hotel, restaurant and catering trades through diligent management, with its own know hos, seeking active participation and teamwork, understanding the creation of prosperity and the generation of well-being for all the people related with the group “as its own way of ensuring the progress of the company and the country”.

THE VISION

To be a point of reference in our sector at the European level as a Catalan company which operates on human principles and with criteria of quality, service and efficiency.


SIGNIFICANT MAGNITUDES AND INVESTMENTS

The growing activity of our corporation has given us significant business figures, which reflect the position of the SERHS Group in the market, and also its importance.

2006 Financial year

• Consolidated turnover: 405.98 ME
• Clients: 30.000
• Team (average payroll): 2,394 people
• Shareholders: 1.322
• Investment 2001-2006: 154.75 ME

Business figures:

• Distribution of 21 million packs.
• the contracting of 100,000 hotel places, reception of 1,600,000 tourists.
• 8,000,000 menus a year; prepared more than 1,000,000 units between pizzas and hot dishes, and supplied 10,000,000 loaves, brioches and derived products a year.



Investments

The investiment activity of SERHS Group between the years 2001-2006 was 154.75 ME. This large use of resources has helped to strengthen the diversification of all the business areas as well as its positioning, with a global investment in 2006 of 16.96 ME.

In this year 2006, emphasis was placed on the investments we might call habitual or recurrent, such as the renewal of the mobile fleet, computer equipment and the improvement of the installations. Having made large investments in new actions, above all in the area of SERHS Hotels, which enabled the opening of the SERHS Natal Grand Hotel in the state of Rio Grande do Norte (Brazil), or the events mentioned above for the construction of the Vilars Rurals de Cardona (El Bages) and the Vilar de Sant Hilari Sacalm (La Selva), and important actions such as the refurbishment of the Castell Jalpí, this period stands out for the construction of the Vilar Rural in Arnes (La Terra Alta) which started work on 4th April 2007.

BREAKDOWN OF INVESTMENTS 2006
(Thou. €)
Year 2001 13.773,00
Year 2002 32.546,00
Year 2003 22.042,00
Year 2004 31.652,00
Year 2005 37.776,00
Year 2006 16.967,00

TOTAL INVESTMENT 2001-2006 154.756,00
TOTAL INVESTMENT 2004-2006 86.395,00

CORPORATE ACTIVITIES

The most outstanding facts in this area should be sought out in the agreements taken within the General Assembly of Shareholders, the Board of Management and the Executive Commission. Certain agreements that have given rise to new investments have allowed the share capital to be increased and profitable alliances to be built.

Share capital increase up to 17%, to 57 million euros

The Extraordinary General Assembly of Shareholders of the SERHS Group held on 7th October 2006 approved the balance sheet, closed at 31st July, which served as a base for carrying out the capital increases that were proposed and approved unanimously by the shareholders. It was thus agreed that the share capital should be increased from 48.60 million euros at the time to 57 million euros (nearly 10,000 of the former pesetas). The par value of the shares passed from 18 euros to 19 euros per share. The total number of shares is currently 3 million.



Dividends for a total 2.16 million euros: 0.80 euros per share, 8% up on year 2005

In the meeting of the Board of Management of Grup SERHS, S.A. on the 14th September 2006, it was agreed to hand out “interim dividends” for 2006 for a total 2,160,000 euros (more than 360 MPTA), which supposed an increase of 8% over 2005. The dividend per share was 0.80 euros. In the past two years -2005 and 2006- the corporativoin hs shared out 4.16 million euros (692 million of the old peseta) among its shareholders.