Letter from the CEO
As we do every year, those of us who comprise the Corporación Empresarial ONCE (CEOSA) stop to reflect on the path taken the year before and to consider what lies before us in the current one. Analyses, data, reflections, proposals and plans fill each annual report but this 2008 Report, for various reasons, is not just one more report.
José Ortega y Gasset, one of the most eminent Spanish thinkers of the last century, inevitably linked man to his surroundings in his philosophy: “I am me and my circumstance.” The past year was one in which, both at a national and international level, circumstances outweighed the individual, especially when it came to small or large “collective individuals,” that is, companies or groups of companies, such as CEOSA. The international economic crisis has had a negative effect, to a greater or lesser degree, on both a macro and microeconomic level. States, institutions, companies and families have been affected by this crisis that still surrounds us but from which we will undoubtedly emerge.
In our particular case, the more than profitable trend that had marked the Corporación Empresarial ONCE in recent years hit a stumbling block as a consequence of the economic crisis. Even so, the consolidated financial data allow us to affirm that CEOSA finished the 2008 fiscal year -the first in its strategic four-year plan- relatively strong and with positive economic results hitting 5.91 billion euros. These results, which were compiled in accordance with the new accounting regulations in effect (NPGC), were audited by one of the leading international auditing firms, without any reservations.
These results would not have been possible without the work, dedication, constant effort and efficiency of everyone involved: executives, middle managers, support, sales and administrative staffs and all of our other professionals. Specifically, the Group’s workforce, as of 31 December 2008, consisted of 20,484 employees, 1,617 (7.89%) of whom had some type of disability, including 186 who were blind or partially sighted. Balancing intense daily workloads with the extreme challenges resulting from a situation as dire as 2008 is truly worthy of the highest praise.
While it is true that this financial setting hurt us this past year, such adversity only helps to spur us on, to condition us, encourage us, and to push us forward. CEOSA continues to dedicate those resources necessary to help us come out even stronger after the financial crisis. We stand prepared to achieve this goal. Our methods are constantly being analyzed and reviewed, and as a result we are increasingly flexible, transparent, modern, and efficient. This is also how we want to be viewed by our clients, suppliers and members.
Our new logo, which we are debuting in this Report, is the symbol of a new corporate image, one that answers the primordial need to adapt to change. With it we want to highlight our determination, our renovation, our optimism and our continuing effectiveness and resolution to forge ahead in our enterprises.
José María Arroyo Zarzosa
President