Letter from the CEO
Once again this year, I am pleased to write this brief preface to the Annual Record of Corporación Empresarial ONCE. As in previous years, I would like to use this opportunity to express my gratitude to all the people who helped in our Corporation’s consolidation.
Wholeheartedly committed to financial transparency while trying to achieve high profitability Corporación Empresarial ONCE has followed the strategic lines drawn in the 2004-2007 integrated economic plan. Thus, we have accomplished our goals for the third year in a row, which is reflected in our sound balance sheet. Our good results are proof of the Group’s stability and consolidate its position within the complex Spanish business fabric.
Despite the good overall performance, there were specific circumstances affecting the results in some businesses. Such was the case with Confortel, Rubia and Primur. Luckily, however, we have developed plans to take the right action.
Another important aspect in fiscal year 2005 was Corporación Empresarial ONCE’s bet on risk diversification, entering new businesses such as biotechnology.
Also, we should not forget the Group’s efforts to integrate disabled employees as part of the staff. In this sense, Corporación Empresarial ONCE is a model corporation, where the number of disabled workers is growing by the day. According to our 2006 data, at the end of this fiscal year, our staff included 1.601 disabled employees, out of 20.312 total workers.