What we can do better

Although Q-Park strives to improve its performance in all areas of its operations, sometimes things may go wrong or the initiatives taken may not have the desired effect. This section summarises the most important aspects in 2023 that did not go as expected and which need to be looked at carefully in the future.

External verification

External verification increases the confidence stakeholders have in our accountability and has a disciplining effect on our internal organisation. But external verification also entails extra time and costs. In the past years we have worked hard to standardise the reporting process and the source and structure of data used for reporting so this can easily be checked for completeness and reliability.

External verification of relevant non-financial information is planned for the Annual Report 2025.

Data validation

Our back-office systems are an excellent source of relevant data, however, it may occur that data is incorrect or incomplete. In some cases we rely on data provided by colleagues, requested on a quarterly or annual basis. Overall, we continue to improve our data quality, and comparability, over time.

Reporting processes and data quality

We continually endeavour to simplify the reporting process and make this more efficient. Extra effort on quality and maturity of non-financial data is planned for the next few years by means of Performance Management rigour including ESRS gap assessments, KPI dictionary sheets and a reporting manual. This will ensure reliable and auditable data to be extracted from our back-office systems and other dashboards.

Target setting

We have established a few KPIs with targets and for others it is work as we:

• need more time to interact with certain business divisions to establish focused, ambitious KPIs that can be linked to targets;

• want to include a variety of perspectives;

• must ensure that underlying plans and activities are in place to meet the targets set.

CSR Strategic Framework

We established our double materiality matrix with its sustainability matters early in 2023. We need to complete the assessment in 2024 to be line with relevant methodological updates.