Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the ESG Forum promoted by CCR S.A. We inform you that all participants will be connected in listen-only mode during the company's presentation. Later, we will begin the Q&A session when further instructions will be given. Should you require the assistance of an operator during the conference call, please press star zero. Before proceeding, we would like to clarify that any forward-looking statements that may be made during this conference call relating to the company's business prospects, projections, and targets are based on beliefs and assumptions on the part of CCR's management and on information currently available to the company.
Forward-looking statements are no guarantee of performance. They involve risks, uncertainties, and assumptions as they refer to future events and therefore depend on circumstances that may or may not materialize. Investors should understand that general economic conditions, industry conditions, and other operating factors may affect the future results of the company, thus conducting to results which differ materially from those expressed in such forward-looking statements. I would now like to turn the floor over to Mr. Waldo Perez, CFO and IRO. You may proceed, Mr. Perez.
Good morning to all. Thank you very much for attending this conference call to present the evolution of our ESG strategy. Today with me is also Flávia Godoy and other members of the IR team, and Pedro Sutter, our VP for Governance and ESG, Onara Lima in charge of sustainability at CCR. I would like to highlight the importance of ESG to CCR as we presented in CCR Day. It's one of our strategic pillars. Moving to the slide that presents our agenda, we are going to talk very briefly about CCR's business, about the company's operating and financial performance, and then I'll turn over the floor to Pedro and Onara who are going to talk about the ESG journey at CCR, sustainability strategy, and our master plan. We will open for the Q&A session.
Moving on to slide three, you know that our mission is to provide services and infrastructure to improve human mobility and to contribute to the development of the regions where we operate. This is our commitment. We focus on Brazil, and we will continue to look for sustainable growth in the three modes of transportation that we operate: highways, urban mobility, and airports. On slide four you will see that in 2022 we have reached 30 businesses. Our revenue in 2021 was a very robust one, BRL 11.7 billion. In 2021 as well, we earned five more businesses and they will begin to generate growing results as of 2022.
The road transportation mode has accounts for 70% of our revenue. It is the most relevant for us. In 2021 we have earned new business in all the modes of transport where we operate. Looking at services, we have GBS, Global Business Services, which makes us extremely competitive. It allows us to achieve gains of scale for the current businesses and for new opportunities, so this is one of our main differentials. You'll also see here Quicko. We made a recent announcement about Quicko, and it has to do with our strategy to review our portfolio. I now turn the floor over to Flávia Godoy, who's going to talk about our portfolio, our growth, and results.
Good morning to all. Thank you very much for participating and taking an interest in our company. I'm going to continue to talk about our growth. In 2021, the company has earned new projects, and we have gained the concession of five airports and the airport of Pampulha. We have maintained our concession of Dutra, the Rio-São Paulo concessionaire. We managed to keep this important asset. We also won the Linha 8 and Linha 9. These were major achievements in 2021. CCR also managed to rebalance ViaQuatro, where our revenue was recognized for BRL 1.3 billion. We executed our preliminary agreement that allowed us to extend the contract for AutoBAn for 10 years. We should sign the final agreement very shortly.
In the preliminary agreement, all the judicial disputes involving those lines have been ended. These achievements create even more value for CCR, and they have also improved our duration significantly. The duration, weighted according to the EBITDA, has been practically doubled with these projects that we have included in the company's portfolio. On the following page, you see a map of our portfolio in Brazil and abroad after these achievements. I would like to highlight that today, as Mr. Perez said, most of the revenue comes from tolls in our highways, where most of the GDP of Brazil is carried. Our portfolio today is more fragmented, and it is strategically concentrated in the state of São Paulo, where we are able to capture a large part of the Brazilian GDP.
Before turning over to Pedro, I would like to highlight the financial performance of the group. As you can see on slide five, we have a history of consistent growth in the company's revenue. The breakout includes demand plus inflation. Unfortunately, in 2021, we were able to recover our revenue, which had been impacted by the pandemic. Traffic is now back to pre-pandemic levels.
In terms of EBITDA margin, in 2021, the company had consistent growth in terms of EBITDA margin, and this allows us to have an efficient control of costs. It's a very, very robust, sound history, and it's taking us to a full recovery and consistent results. This is what we expect with the consolidation of all the assets we now have. I'm going to turn the floor over now to Pedro, who's going to talk about our ESG agenda and our achievements.
Good. Thank you, Flávia. Good morning to all. It's a pleasure to be here today with us to talk about a topic that is so dear to CCR. As you will see, this theme, this topic pervades all the organization. The company has been developing its objectives in the last few years. It's not something that we have done just recently, just to show you. No. We have been preparing for this moment. This topic is directly linked to our strategic objectives and also to the ambitions that are embedded in our purposes and values. We want to create values for our stakeholders by being responsible and innovative. We carry this responsibility. It's part of our purpose. We manage assets which serve the public infrastructure, and this is a responsibility that we take very seriously.
We want to carry out our purposes and our objectives with best practices that will allow CCR to stand out. We want to be the benchmark when people talk about ESG in infrastructure. In the region, we are the benchmark, and we might be even global, the global benchmark. We are going to talk about our trajectory. Onara is going to help me with that. We are going to talk about the steps we made in this last six months. What I would like to highlight here is the way we have organized our work plan so that actions are effected so that we go beyond the intent and actually act in ways that you, our stakeholders, can measure and can observe.
First of all, we have the strategic area, and our project cuts across different areas. It is structured this way because it's our understanding that an ESG plan has to be pervasive within the company. The action plans are the responsibility of all the business units, and we work on these plans every day within the company. The other strategic objective is to have an area focusing exclusively on ESG. We don't want this responsibility to be fragmented within the company. It has to be centrally managed. We have a team to follow up on the process, otherwise it might not become effective. It cuts across different areas in the company, and we have a dedicated area. This is at the strategic level.
At the tactical level, and we are going to talk a little bit more about that, we have to focus on governance, on following up on the plan that we created for ESG, and we also have to think about this process such that there is always feedback with the good practices. We see good practices within our businesses and in the market. We always look for models. We always look for new technology, innovative practices that allow us to reduce, for example, greenhouse gases, and we always look for practices to enhance a circular economy within the company.
So there is a feedback loop in the process, and we are always ready to challenge the strategy and the plans. This is an extremely important component. At the operational level, we have mentorship, communication, and training for those people who are in the business units executing the plan. We have 200 initiatives which are going to turn us into the benchmark in ESG in our area of operation.
This action plan has to be put in practice by people who work at ViaSul, at AutoBAn, ViaQuatro, ViaMobilidade, and at the airports. It's very important to train people. Train through mentorship. We all now focus on mentorship. It comes through communication, training, and alignment. Without these pillars in our culture, we won't be able to achieve success. We focus on these dimensions, which will allow us to make the plan into a successful plan.
When we reviewed our strategic planning in the company, and we thought about ESG as a strategic pillar to generate value that has to do with governance, sustainability, and social responsibility, all of these initiatives have to do with the public interest, which is part of our purpose. We decided, the company, the board of directors, and the strategic review carried out in 2020 made a recommendation. The idea was that the VP of Governance, Risks, Compliance, Internal Audit, and ESG should be. This VP reports directly to the board of directors, and this ensures that we are strategically aligned to work on the planning. ESG reports directly to the top management and to the board of directors. This expresses the importance of this process.
The VP of Governance, Risks, Compliance, and Internal Audit and ESG ensures that ESG is always aligned with the decisions made at the top level of CCR. This will allow us to have a successful process. It's the second time we talk about this topic to you. We are giving you a snapshot, but we have been in this journey for quite some time. The strategy we have in place will allow us to achieve our objectives. On this next slide, I'll pass the floor on to Onara.
We are going to give you some more details, some more color, not only about the way we manage ESG, but we are going to give you some more color about our initiatives. Today, we have clear targets for the year 2022. These targets include sub-targets. For example, Waldo Perez has targets and sub-targets which are linked to his role. Here we are going to give you a little bit more color about the structure of these, targets, what they are all about, and what we see going forward. These are the targets for 2022, but we have also targets for the medium to long term. I'll now pass the floor over to Onara. She's very experienced in this area. She has structured, ESG programs, and she will help us at CCR.
Thank you. Good morning to all. I would like to start by talking about strategy. When we talk about ESG within a company, we have to understand which levels in the hierarchy have to do with ESG, and this is to ensure transparency for the information. Sustainability is not about long-term targets, but about how we are going to achieve those targets. When we look at the organizational structure of CCR, we can see how this works every day in the company and how this works in every business unit, in every plan, and when we think about investments that will create value.
ESG is where we work to create value in the long term while also keeping a focus on the short term. We structure our ESG strategy top bottom. The ESG strategy is under the VP of governance who reports to the board of directors, and this allows us to make decisions very fast. We have the board of directors who has approved our ESG strategic plan. We have an ESG committee who meets every month, and the board of directors is informed about all the ESG initiatives in the company. The management committee validates the actions, thinks about the strategies for the medium and long term.
The executive director also works for the medium and long term, innovation, technology, thinks about the commitments that cut across different areas, especially when we talk about an ESG culture in the company, and they also provide us with resources and funding. All the work is validated by the ESG committee. The tactical group ensures that our KPIs are met. We also have more than 277 actions which we monitor through the tactical group. We have tools, we have roadmaps. All those responsible establish timelines, the resources needed, and how the targets are established and met. ESG is a recent topic in Brazil, but this agenda was accelerated by the financial market. We who have been working in this area, we were keen to take this opportunity.
We have to mitigate risks, but we also look at the opportunities that ESG brings to us. This has to do with our ESG trajectory. We take it very seriously. This started for CCR in 2006 when CCR was controlling indicators using GRI. CCR has been maturing. The company has also adapted to market requirements. As you can see here, the company has always been fast in responding to demands. In 2012, we started to think about climate change, and we began to control emissions. We began to act in 2012, and we have been working on the environmental agenda every year. This year, we have to move to the medium and long-term strategy.
In 2021, CCR included indicators for the financial market, SASB, S-A-S-B, and this allows the company to give appropriate treatment to ESG within the financial aspects of the company. We also do integrated reporting, which is very important for the financial market. The sustainability report, when it's integrated, it includes also how ESG is included in all the areas within the company. Moving on, we have the ESG master plan. We have to think in terms of the materiality matrix. To start the efforts within the company in relation to ESG, we have to think about the material topics, the material themes within the company. We reviewed the materiality matrix last year. We looked at players, competitors, benchmarking, ratings, stakeholders, and we defined how we would work regarding these material systems.
We defined our master plan and standardized it across all the lines of business of the CCR group, and we defined the 11 KPIs, which have been further developed. We formalized all of these so that this could be funded. We also developed the projects. Together with GBS, with the engineering team of CCR, with the technology team, we look at the opportunities for our business to improve our sustainability performance in both the E, S, and G pillars. We have our projects and action plans.
T his year we are going to have SBT targets. We're going to build our climate change plan, and we are going to start PCSB work. We are going to think in terms of risks and how we are managing these risks relative to climate change and looking also at those issues where we have to focus our efforts. We are also going to develop our climate change plan, our commitments, and how we are going to to achieve our commitments. We are going to review the materiality of Global Compact of GBS. Together with Global Compact, we are thinking in terms of 2030 and the sustainable development objectives, thinking in terms of how they play in our business.
Our position in terms of ESG, we think in terms of the reports. Ever since 2006, we took on the commitment to evolve, and we aligned that to our purposes. We have a project within CCR. We define our ambitions for 2025, and the ESG plan is linked to these ambitions for 2025. I highlight being a leader in the sector, in the infrastructure sector. The infrastructure sector is extremely important when we speak of mobility. We want mobility to be democratic. This is what we work for. We want to focus on the security and safety of people so that we can create shared value creation.
In terms of sustainability, we have to think about the management of human capital and the creation of value for all the stakeholders, communities, clients, shareholders, and this is what drives us every day. This is what the master plan allows us to do. We also have to think about the market. The market is looking at us. We have MSCI as our guiding principles. We are going through standardization. We have a very vast portfolio, and we have to be adaptive. We have to think about ESG for all of our business lines. We have airports. We have been working on this master plan to adapt where needed. We have opportunities to generate added value for the business.
Given this strategy, every decision that the company makes has to include ESG. The company's governance has helped us structure ESG, and we think in terms of the transformation of operations at the business level, and we have to think in terms of technology and innovation. There's no way to evolve in terms of ESG unless we think about technology and innovation and artificial intelligence, and what gains we can have. This has to do with traceability, and also allows us to track the results in the company. Our ESG plan is what drives us. We have the material topics in our materiality matrix, where we deal with climate change.
We have our targets relating to climate change, to biodiversity, use of the soil, which is also essential to us every day. We have health and safety, and this is intrinsic to our business. Our main objective is to be able to offer safe services and develop our activities in a safe manner. When we talk about health and safety, it has to do with people, an inclusive and diverse work environment. We have been focusing on diversity and inclusion, and we want to influence audiences in a positive way. We also focus on quality of service. We are service providers.
This is always a focal point in our strategy, and we also focus on relations with the community. The CCR Institute has been working and developing actions for the communities where we operate so that these communities can grow with our support and governance, obviously, which is what gives us structure. We think in terms of strategies. We have strategies for each material topic. We have objectives as well.
We are now working for the 2022 objectives and getting ready for the future years, and we have an action plan and indicators. We have our ESG targets for 2022. CCR is an infrastructure company that has been in the vanguard in terms of ESG. CCR was a pioneer in terms of adhering to many indicators. In order to continue to evolve, we have designed for 2022, together with the company's leadership, we have proposed ESG targets. We have targets and sub-targets to all the levels of the company, and they are linked to the variable compensation of executives and associates. The company is extremely mature now in terms of targets, in terms of the transparency with which we report on the targets. You know about our commitments.
We have some basic targets and 270 structuring actions, and this will allow us to evolve. All of this is shown in detail in our integrated report, which was published on February 24th. You will have more details also about the variable compensation of our executives. The KPIs are very well-defined, and I would like to highlight some of them. The company has been looking at the value chain, at the supply chain, and to engage these chains within our actions. We need to have our commitments, but also spread these commitments to those we share our journey with. We are part of different supply chains, and one of them has to do with climate change. We have a decarbonization plan which is going to be informed to SBTi for the medium and long term.
This will all be reported to the market. We have photovoltaic plants. This was developed by our engineering area. We look at the potential to reduce emissions by using the weather in our favor, and also the management and monitoring of animals. I had just some highlights in our agenda. We have joined EcoVadis, a platform that assesses providers so that they can avoid risks when providing services. The interpreter apologizes, but there's no microphone feed. In terms of governance, we have structured processes in the company. For a long time, the company has been strengthening this agenda. In terms of the compensation of executives, we have 11 ESG targets, which are linked to the targets of executives. CCR in February ended an agreement, and we have an improvement in the compliance programs.
We are always looking to improve all the hierarchical levels and how they deal with ESG. We have online trainings to improve the policies of the company. Also, MSCI, one of our ambitions for 2025, and we are now in the A position in terms of their rating, and also the ICO2 levels of B3, which we participate in. We also have an innovation laboratory. These are the highlights. To put everything of this together and to ensure transparency, everything is connected to create value and have a positive impact. We have our indicators, which are reported on a yearly basis, and we have a history that allows us to make everything very concrete and ensure transparency so that the market can watch what we are doing. Through the indicators, we are able to evolve the agenda.
For us to have targets that evolve, we have to be able to measure. This will enable us to achieve our ambitions. We will continue to show you what we have been doing, and I would like to wrap up by saying that we have a very robust plan. It is very well-structured. It was prepared together with the company's executives. We monitor their performance through our governance structure. Our leadership is committed to the ESG agenda, and we deal with this agenda at the board of directors level. This attests to the company's commitment and maturity. It is a theme that cuts across all the areas in the company. This is what allows us to change the culture every day and allows our associates to embed ESG in our business.
It is a journey, a continuous journey that evolves. We continue to work to create shared values so that mobility can be democratic. Thank you very much. Thank you very much, Onara. I would like to wrap up by talking about some of our objectives today. We wanted to achieve three things. First, we wanted to present our organization that will allow us to achieve the objectives, the targets that we talked about. Objectives and targets in the short, medium, and long term, and how we are going to capture the opportunities to create value for our stakeholders in terms of the environment, social responsibility, and governance.
This was the first objective. We have demonstrated how we are organized to achieve these objectives. We presented on the short-term targets in each dimension in terms of the environment, social responsibility, and governance. We indicated these targets, and we showed how they are linked to the compensation of executives, and this ensures the adherence of executives to the execution of these targets.
Our third objective was to inform you all about how we are going to publicize these targets and at what stage we are. This is a commitment we undertake before all of our stakeholders to communicate in an objective and transparent way so that we can be measured by you in terms of our plan in the next few years. These were our objectives, and I would like to thank you all for your attention.
I will now open for the Q&A session. We have some questions here. We will now begin the Q&A session. The first question comes from webcast, from Mr. Mizusaki from Bradesco BBI.
How has ESG influenced CCR's investment decisions? Is CCR planning to accelerate anything in the concession portfolio to achieve its ESG targets?
Thank you for the question. First, whenever we analyze an investment opportunity, be it a new concession, be it an acquisition, the ESG factors are one of the many factors we take into account when we need to decide whether we are going to move forward with the business. We also consider ESG in our assumptions before we make a decision. In terms of concessions, we have guidelines on the things we have to look at, especially sustainability.
When we look at M&A, we have to look at compliance, for example. These points are taken into account. For example, safety, which is a key focus for us. We want to improve the safety of our associates, so we look at the safety indicators in a concession or in a different business like M&A, for example, and we see how we can integrate those points within our business model. In the presentation, we made it very clear that the design of the governance, because it is under the Vice President of governance and compliance, the ESG topics are included in the process of assessment of a new line of business or an M&A. This is always included in the decision process.
The second question has to do with ESG and if ESG will accelerate or not, some of our businesses. At the end of the day, we look at each business first. What is the strategic role of that business? We think in terms of the business and, ESG is an important factor. We look for sustainable growth in all the modes of transport where we operate. Do we have other questions? We have another question. Our next question comes through the webcast by Moisés Basílio. Good morning. What is the percent... The executives apologize, they haven't heard the question. Just one minute, please, while we wait for the question to arrive. I'm going to read the next question from Moisés Basílio from EcoRodovias. Thank you, Moisés, for the question.
What is the percentage of ESG targets as regards the total PLR of the executives? It varies between 15% and 20%, and this goes from the CEO to L3. It's never less than 15%, it's never more than 20%. Okay? This is the percentage that is linked to the compensation.
We have another question from Mr. Esteves from Santander.
Thank you, Lucas, for your question. Could you comment about the agreement signed with the Public Prosecution Service, and what degree of comfort you have regarding this agreement? We didn't understand the question. I don't think it's our focus in terms of ESG. It may have to do with the security that involves the contract. As we have been saying to the market, the process of structuring the preliminary agreement and now the final agreement, we have been working on that to prevent setbacks once the process ends. We are making our best efforts.
The process was very well structured, and we do not believe that there are risks associated with it. When we assess risks having to do with the execution of contracts that have an impact on the final agreement, we don't see that. Of course, there is an element of that we cannot assess and that has to do with the Public Prosecution Service. There's another question from Victor Mizusaki from the desk called BBI. The ESG targets have been included in the compensation of the executives. Can you give us some more color about how this works?
On the previous slide, you saw, and Onara presented on it. You can have a look at that on our site. There is a dashboard of targets, for example, reduction of GHG gases, diversity. Each target is associated, or a set of targets is associated with an executive. Waldo Perez, for example, has five targets out of the 11 targets. Achieving these five targets will enable him to obtain 100% of this 15%-20% of his compensation, which is linked to these five targets. I don't know specifically which one are his, but he probably has a target associated with safety, turnover, and so on. This ensures that the directors and executives are aligned with the ESG targets.
There are no further questions, so we would like to end this forum. It's 12:00 P.M. Thank you all very much for participating, and I open the floor to Waldo or Onara if they would like to say anything.
Thank you very much for participating. As you can see, we are making progress in terms of ESG, in terms of our strategic plan, in terms of the CCR day in Q3. We will have news for you. The material, the presentation is available from our site.
Thank you very much. CCR's conference call is now ended. The presentation will be available from the company's website at ri.ccr.com.br. Have a nice day. Goodbye.