Targets and Priorities

This first implementation of the Key Performance Indicator (KPIs) target setting model aims to ensure better development of state owned assets managed by HCAP and enable measurement, quantification and performance evaluation.
The objectives set for each company are in line with the strategic guidelines of the Sole Shareholder, which is the Greek State as well as with HCAP’s strategic plan.

In relation to HCAP’s targets and priorities for the companies included in its portfolio, for the first time HCAP has proceeded with setting to its non listed subsidiaries, where HCAP is the majority shareholder, specific Key Performance Indicators (KPIs) covering four areas of strategic importance.

The Key Performance Indicators (KPIs) cover a three-year period (2019-2021) and relate to the following four strategic areas:

01. Revenue Enhancement / Increase of Financial Value
Targets relating to financial performance with respect to revenue generation, controllable opex reduction and supply chain optimization by maintaining and/or improving the quality of the services provided. Moreover, the economic performance index takes into account the management of resources, subsidies and available capital. Indicative examples of such KPIs are profitability metrics i.e. Turnover and/or EBITDA increase etc
02. Improve Quality of Service, Extroversion & Innovation
Targets focusing on the quality of the offered services, the development of strategic alliances and synergies’ creation, as well as the promotion of innovation and technological upgrade and also, more broadly, of investments that promote sustainable growth. Some KPI examples of this category are namely, customer/user satisfaction (research and questionnaires), organizational and operational design of the company aiming to align them with modern consumer needs, planning feasibility studies for new investments etc.
03. Institutional Framework / Governance
Targets for the establishment and assurance of best practices in corporate governance, compliance and accountable management.
The KPIs in this category include the adoption of corporate governance policies and procedures, update of boards’ rules of procedure, and of the board Committees as well, strengthening Audit Committees with executives possessing appropriate skills, etc.
04. Enhance the Public Value
Targets for the maximization of public value in terms of social reward, growth prospects and upgrades at a country level by using consultation among stakeholders as well as by improving environmental footprint. The emphasis placed by HCAP towards this direction is evident in the related KPIs imposed which indicatively include support to vulnerable social groups, boosting local economies and societies through (direct and subsequent) multiplying benefits, environmental protection etc.
This initial implementation of target setting through KPIs aims to ensure a better development of the state owned assets managed by HCAP as well as to allow for the measurement, quantification and evaluation of performance.