Contribution to social development
Contribution to local development
Lar España works actively to add value to the environments where its assets are located and therefore carries out social initiatives that contribute to human, economic and environmental development and at the same time help society to respond to major challenges such as unemployment or the socio-economic crisis.
8.6% of the indirect jobs at Lar España’s assets are done by persons with disabilities above 33%.
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Stakeholder relations
Lar España’s objective is to interact adequately with its stakeholders by responding to their expectations. For this reason, appropriate communication channels have been established to maintain and improve the Company’s external and internal relations. Lar España is committed to creating value for its main stakeholders and promotes the application of measures in its centres that enable it to obtain a clear image of stakeholder expectations.
Customer orientation
For Lar España, its customers and users constitute the foundations of its business model. Consequently, the Company prioritises and focuses its efforts on meeting the needs of its customers at all times. The Company promotes active listening and two-way communication, and is therefore able to offer the level of service quality that customers have come to expect.
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A culture of customer health and safety
In 2021 Lar España continued to work to provide safe, comfortable spaces for customers by implementing measures and solutions that ensure a high level of safety at its various properties.
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Protocol systems and crisis management
Lar España's assets have a specific Action Protocol where there is an Anti-Terrorism Prevention and Protection Plan that allows the detection, monitoring, analysis and evaluation of this type of risk.
Crisis management systems and protocol
Lar España has in place prevention and intervention systems and protocols that can address any suspected terrorist threat. These systems comprise measures to increase vigilance and inspections, with special attention on the presence of suspicious individuals and objects. Foremost among the principles of preventive action are the establishment of meetings with national, local and regional police forces to facilitate cooperation with the local authorities.
Protcol for filing claims
Lar España undertakes to analyse any incidents customers may suffer at its properties and to take appropriate action so as to respond to customers and consumers clearly and concisely. To this end the Company has protocols for filing claims which enable it to detect and handle all incidents through various channels such as social networks, the website and paper forms. Thus, those in charge who are affected record and analyse them in order to implement measures and take steps to resolve the claims.
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Relations with suppliers
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Lar España considers its suppliers to be an essential aspect of its operations. Consequently, it has purchasing and contracting procedures that prescribe the commitments and principles of conduct required to contract any supplier, fostering quality management and transparency.
Certification mechanisms
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Commitment with local suppliers n 2021, Lar España has close links with the communities it serves. For this reason, the overwhelming majority, 446, of its 466 suppliers are local companies. Lar España purchased over €58M in products and services from its suppliers, thereby creating wealth in the communities where it operates.
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Supplier audit process: Compliance with occupational health and safety and environmental matters as well as process quality are taken into consideration in the evaluations. These audits have been carried out without any qualifications in the results.
Cybersecurity and information security
To manage and mitigate information security risks to a reasonable level, in 2021 the Company developed a Third-Party Cybersecurity Risk Management Model.
Cybersecurity measures and actions
As a result of creating the Third-Party Cybersecurity Risk Management Model, Lar España has started work, with the support of an external consultant, on preparing and sending a self-assessment questionnaire to suppliers for them to assess their information security risk, as well as the inclusion of cybersecurity clauses in an annex to the contracts for the provision of services.
Investor relations
Lar España actively promotes listening to and collaborating with its main investors in order to continue applying best practices and meet their objectives in an ethical and transparent manner.
Main activities carried out with investors in 2021
Investor relations activity in 2021
379
One on Ones
16
Financial centres covered
12
Coverage of active analysts
5
Positive changes in the target price
39.3%
Revaluation potential according to analysts’ consensus
90%
Positive sell-side recommendations
Media
16
Impacts on distribution lists
119
Impacts on social networks
9,708
Social Media
users in 2021
(+14% vs 2020)
4,133
Impacts in media
+58.3%
Average user web session time
vs 2020
+32.8%
Number of web pages visited by investors vs 2020
184 Mn €
Appearances in media and on social networks have generated
an estimated value equivalent to Euros 18.4 million in hard copy
and online press.
Social action
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Lar España’s Sustainability/ESG Policy reflects a firm commitment to human, economic and environmental progress that will promote sustainable development and social advancement in the communities where it operates.
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Local communities
As a result of its business activities, the company generates economic, business and social benefits for multiple players, creating thousands of direct and indirect jobs. Lar España helps the economies of the local communities where its assets are located by:
Over 1,400 hours
worth of community and environmental initiatives at our shopping centres.
Over 570,000 €
earmarked for community collaborations, sponsorships and initiatives.
Over 25
collaborations with NGOs and foundations.
Over 43,000 kgs
of clothing donated.
Over 4,000 kgs
of food collected in drives.
Accessibility
Lar España is firmly committed to ensuring that its assets are understandable, usable and practical environments for everyone, regardless of their ability.
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In 2021, Lar España continued to work hard to improve and adapt all of its shopping centres in an attempt to enhance how everyone experiences its facilities. The company’s aim is to obtain AENOR’s universal accessibility seal at all shopping centres not undergoing refurbishment and secure certification over the coming years for the remaining assets in the portfolio in which Lar España is a majority owner, in the following years.
100% of the portfolio
audited in Universal Accessibility
50%
of certified assets
and the other 50%
of the portfolio in process of certification in UNE-170001
Over 140.000 €
Investment of more than €140,000 to improve accessibility in 2021