The car parking market is a fragmented growth market which offers opportunities for the large parking companies such as Q-Park. We can benefit from economies of scale and can spread the considerable investments which are necessary for providing digital services, making installations more sustainable and for local and central support, across multiple parking facilities.
Our scale and financial strength also present opportunities for long-term, valuable collaboration with local authorities and partners on effective mobility policy.
After a careful analysis, we have therefore decided to focus our strategy on value creation. We are achieving this by increasing free cash flows from the existing portfolio, and, where possible, taking greater advantage of economies of scale and to provide an even better service to the parking customer.
At the same time, we are keeping a close watch on a number of megatrends which will affect the future of the car parking market, such as digitisation, urbanisation, shopping experience, sustainability developments and changes in car usage.