SUSTAINABILITY REPORT

2023
SUSTAINABILITY REPORT
2023
SUMMARY
7 LETTER FROM THE CHAIRMAN

8 LEADING SHIPPING COMPANY

16 MILESTONES IN 2023

22 OUR BUSINESS MODEL

32 FINANCIAL RESULTS

34 SUSTAINABLE DEVELOPMENT STRATEGY

56 OUR COMMITMENT TO CONTINUOUS
38 OUR COMMITMENT TO THE PLANET 48 OUR COMMITMENT TO OUR PEOPLE IMPROVEMENT AND INNOVATION

64 STRATEGIC ALLIANCES AND OUR

ACTIVE PARTICIPATION
SUSTAINABILITY AND PURPOSE

Once again this year, we have presents data and analyses the future we wish to bequeath to and social reality. But data alone
been faithful to our commitment trajectory of Baleària in 2023, a future generations. cannot convey a company's
to explain what Baleària does very special year that marked commitment. What makes us
The Sustainability Report, and I say
and how it does it through the the culmination of our first different and accessible is our
this with undisguised pride, also
Sustainability Report, which shows quarter of a century of existence. DNA, our purpose, based on the
reflects the fact that in Baleària
our achievements for 2023 and It has been 25 years of work and conviction that values are, in the
there is talent and energy, as
our future objectives. This publica- improvement with our strategic 21st century, one of a company's
well as ideas and empathy with
tion is an exercise in transparency sights set on 2050, the year main assets.
our customers. Values that are
towards society as a whole and, marked on the calendar of any
evidenced by the feedback we get
in particular, towards our stake- responsible company as the year
from society. Women and men
holders, but it also represents an of zero emissions; the year in
from many different backgrounds
annual reflection involving the which we will be neutral in terms
are brought together and bonded
2,500 women and men who, day of greenhouse gas emissions.
by a common goal: to offer the
in and day out, provide essential As I have often stated with the
best maritime services and, in
maritime services to a number deepest of convictions, there is
doing so, to contribute to sustain-
of regions, millions of people and no future without sustainability.
able economic development and
thousands of companies. The climate circumstances we
human relations.
are currently experiencing make
From an open, multidiscipli-
it necessary to reflect calmly, but This report includes all the data
nary perspective, this document
decisively, on the environmental that reflects Baleària’s business

Adolfo Utor
Chairman of Baleària

LETTER FROM THE CHAIRMAN 7

LEADING SHIPPING COMPANY
At Baleària we are Today, we are recognised as use of less-polluting fuels, such as the highest levels of efficiency,
celebrating our 25th a maritime company with an natural gas, and more recently we punctuality and comfort on all our
innovative approach to sustainable have started working with other routes, which each day connect 25
anniversary, proud and mobility. Innovation and care for cleaner and more environmentally destinations in 6 countries, with a
satisfied with the road the environment are the keys to friendly energies, including green fleet of more than 35 vessels and
we have travelled. What eco-efficient mobility. Our aim is to hydrogen and biomethane. This some 2,500 people who form a
always go one step beyond what year we launched the first electric cohesive and committed team.
began as a modest is required by law, to contribute to ferry in Spain, with zero emissions
venture has turned into improving the well-being of people while in port, which is great news.
a fruitful and successful and the planet. We are pioneers because we
want to achieve emission-free
journey that, today, The maritime sector is one of the
shipping by 2050. Our research
makes us the leading most strictly regulated sectors,
goes on. Our commitment to
with stringent safety regulations
shipping company in governing CO2 emissions and
the environment is undeniable.
Spain, backed by a long waste management, among other Throughout this 25-year journey,
history of efficiently things. This must be the case. we have grown steadily, making
However, in addition to complying a firm commitment to innova-
transporting passengers,
with all current regulations, tion, the key to our leadership
vehicles and goods. we go much further: for more and our commitment to our
At the international than 10 years, Baleària has been customers and to society. Thanks
researching and promoting the to continuous innovation, we offer
level, this quarter-
century-long journey
has also borne fruit.

Our aim is to always go one step beyond

what is required, to contribute to improving
the well-being of people and the planet
LEADING SHIPPING COMPANY 9
10 SUSTAINABILITY REPORT
MISSION AND VALUES

Baleària’s mission SOCIAL REPONSIBILITY SUSTAINABILITY

is to respond to the Baleària accepts its responsi- Baleària must contribute to the
maritime transportation bility, which it understands to balance between people, the
needs of society, by be responding to the legitimate planet and prosperity in the
providing its customers expectations of its stakeholders present without endangering
while remaining faithful to it in the future. The company
with a high-quality, its values and principles. is also committed to using the
eco-friendly service, 2030 Agenda and the SDGs as a
offering its shareholders roadmap, in particular in terms
INNOVATION
appropriate returns, and of eco-efficiency, sustainable
giving its employees Baleària and its staff must apply mobility and the circular economy.
their creativity, making produc-
the opportunity tive use of their imaginations and
for development knowledge, to generate value
SOLVENCY
in professional and propositions that are successful Baleària and its staff must be
personal terms. among the stakeholders. worthy of the trust placed in
them by their stakeholders,
they must be exemplary and
must fulfil their obligations.

We are a benchmark in the shipping sector,

providing personalised, quality services and with
the capacity to compete in a global world
LEADING SHIPPING COMPANY 11
 GOVERNANCE STRUCTURE

Our governance struc- At the apex of this structure is

ture reflects a holistic our Board of Directors, the main
governing body responsible for
approach that encom- strategic decision-making and
Adolfo Utor (Alhucemas, 1961)
is the chairman and sole share-
passes both the the overall supervision of the
company. It plays a crucial role
holder of the Baleària shipping internal and external
in setting the guidelines and
company, whose creation he aspects of our business policies that steer our path.
captained in 1998. In addition, Utor
is president of the Social Council management. Just below the Board of Directors,
of the University of Alicante, a full is the Standing Committee,
member of the Spanish Royal a dynamic entity comprising
Academy of the Sea, a member the members of our Board of
of the Board of Directors of Directors and key figures such
the Valencian Association of as Chief Operating Officer David
Entrepreneurs (AVE) and also chairs Fernandez. This committee is
the ANAVE Regular Shipping Lines continuously in action, dealing
Committee, among other things. with urgent matters and ensuring
the smooth and efficient manage-
ment of our day-to-day business.
Board of Directors
Another governing body is
Adolfo Utor the Executive Committee. This
Chairman and sole shareholder is responsible for the opera-
tional implementation of the
Georges Bassoul
strategic decisions made by
Chief Executive Officer
the Board and the Standing
Ricardo Climent Committee, ensuring that our
Chief Financial Officer daily operations align with the
vision and objectives set out by
José Manuel Orengo
our highest governing body.
General Secretary

12 SUSTAINABILITY REPORT
Certain bodies perform specific In addition, the Equality
functions. These include Committee, which is part of
the Ethics and Compliance our Equality Plan, is respon-
Committee, which is responsible sible for promoting gender
for overseeing business ethics equality and non-discrimina-
and ensuring compliance with tion in our work environment.
ethical standards and regulations.
Overall, the governance struc-
In addition, the Works Council ture, supported by the active
is responsible for representing presence of the Standing
the interests of our employees. Committee, reflects our compre-
hensive commitment to
This council, which includes trade
transparency, ethics and fairness.
union representatives, contributes
to participatory management
by facilitating communication
between our management
and our employees, thereby
promoting a fair and collabo-
rative working environment.

Our governance structure reflects

our comprehensive commitment to
transparency, ethics and fairness
LEADING SHIPPING COMPANY 13
 ETHICS AND COMPLIANCE MANAGEMENT

At Baleària we are We use a comprehensive Ethics have overlooked. We look at the

particularly committed to and Compliance Management sectors in which we work and the
Model to help us ensure that we legislative framework that applies
risk management. For us,
comply with all rules, including to us, and we talk to the people
it is essential to monitor our internal code of conduct. The in charge of each area to identify
our performance. Ethics and Compliance Committee important risks.
is responsible for ensuring this is
In this matrix we also assess ethical
implemented.
risks and use an approved form to
This model includes tools such as analyse these, although some of
a risk matrix and reports that tell these risks may be covered in the
our management team how we legal risk assessment.
are managing risks and help us
decide what to do to reduce them.
The departmental risk matrix
also helps us to identify the legal
issues we face and any we may

Identifying non-financial risks is crucial and allows us

to mitigate potential negative impacts in our operations
14 SUSTAINABILITY REPORT
Cybersecurity RISK MITIGATION

At Baleària, the management of Policy on the Proper Use

At Baleària we implement actions
risks related to information and of IT and Communications
to minimise any threats that
cybersecurity is an essential part Resources
are defined in the criminal and
of our operations. We evaluate the This policy sets out recommended
ethical risk matrix. This shows us
apps we use and classify them practices for all users of our IT and
all the dangers we have identi-
according to how important they communications resources. Its
fied, providing a complete picture
are to our business as well as the purpose is to define standards that
of the possible threats related to
protection of confidential infor- ensure the efficient and secure
illegal or unethical activities.
mation. This allows us to prioritise use of our information systems,
and allocate security resources in protecting the company and our Each risk in this list has its own set
proportion to the importance of users from risky or illegal activities. of measures designed to control or
each app. reduce its impact. These controls
In addition to these policies,
are designed to strengthen our
We have specific policies to ensure we have an external cyberse-
organisation in the face of legal
data and information security. curity team that monitors and
or ethical issues, ensuring that
responds to security incidents,
our operations are aligned with
Information Security Policy acting rapidly to contain and
Baleària's principles of sustain-
This policy establishes crucial resolve any issues. These internal
ability and corporate social
guidelines to ensure the integrity policies and procedures, together
responsibility.
and security of our information, with the external cybersecurity
assets and the business processes team, help us prevent threats
associated with our systems and and protect the stability, quality
network infrastructure. The aim and continuity of our processes,
is to improve the stability, quality as well as the confidentiality
and continuity of our processes, to and integrity of information.
safeguard the confidentiality and
integrity of information, and to
boost the confidence our partners
and users have in us.

LEADING SHIPPING COMPANY 15

MILESTONES IN 2023
FIRST ELECTRIC FERRY
IN SPAIN

At Baleària we marked an impor- eco-efficient mobility, but also

tant milestone with the launch of an optimised journey experi-
the innovative Cap de Barbaria, ence, giving priority to outdoor
an electric ferry and the first of its spaces that allow passengers to
kind in Spain. This 82-metre-long enjoy the natural environment
boat that can carry 390 passen- during the crossing, as well as
gers links Ibiza and Formentera, numerous on-board services.
revolutionising the connec-
This ferry, designed to carry up to
tions between these islands.
240 linear metres of cargo, equiv-
Navigation and port stays are alent to approximately 14 trucks,
emissions-free thanks to the ensures the supply of essential
electric propulsion of this ferry. We products to Formentera. Our
are also committed to the future, priority is its operational agility
and we have taken into account and ability to operate in various
the possibility of incorporating weather conditions, thereby
green hydrogen as a fuel, allowing ensuring a vital link between
us to explore new forms of sustain- Ibiza and Formentera, as well
able energy on a small scale. as providing reliable services for
residents and tourists.
In the design of the Cap de
Barbaria we looked for not only

Thanks to its electric

propulsion, sailing and harbour
stays are emission-free
17
 CONSTRUCTION OF THE
'MARGARITA SALAS' FAST FERRY

At Baleària, work has continued The ship will also include digital
on the construction of the services such as an internet
Margarita Salas fast ferry at connection, a free digital
the Armon Shipyard in Gijón. entertainment platform and
This vessel, equipped with dual WhatsApp coverage throughout
natural gas engines, has similar the voyage, ensuring customer
dimensions to its predecessor, comfort and satisfaction.
the Eleanor Roosevelt, but will
The name of this new ship pays
offer 10% more power thanks to
tribute to the Spanish scientist
its four 9,600 kW dual engines.
Margarita Salas, renowned for
Able to transport 1,200 passengers her work in molecular biology.
and 450 vehicles, we have
enhanced the interior spaces to
provide an exceptional on-board
experience. We have added a
second passenger deck with a
seating lounge, enlarged the
aft deck, and upgraded the
seating in the VIP lounge.

This second gas-powered

fast ferry has more powerful
engines and larger lounges
18 SUSTAINABILITY REPORT
GREEN MARINE EUROPE
CERTIFICATION

Baleària has achieved a milestone of environmental management,

by becoming the first Spanish reduced pollutant emissions and
shipping company to obtain the underwater noise, as well as the
prestigious Green Marine Europe conservation of aquatic species.
certification. These efforts consolidate our
long-term commitment to decar-
This green credential reflects
bonisation and care for the marine
our commitment to sustaina-
environment.
bility and eco-efficiency in the
maritime sector. Through this In addition to Green Marine
accreditation, we confirm our Europe certification, Baleària
leadership in implementing has been awarded multiple
advanced environmental recognitions and certifica-
practices focused on reducing tions that support our focus on
greenhouse gas emissions and environmental sustainability.
preserving marine biodiversity.

The rigorous audit and self-as-

sessment we undertook to obtain
this certification ensures that we
meet high standards in terms

This certification reinforces our commitment to

promote the decarbonisation of maritime transport
MAIN MILESTONES IN 2023 19
 CELEBRATING 25 YEARS

The year 2023 was marked by the

25th anniversary of Baleària's
founding, which we began to
celebrate at the International
Tourism Fair (Fitur) together with
more than 400 people from our
target audiences and individuals
linked to our activity. It was the
first event of the year to highlight
our journey from 1998 to now,
which has made us the leading
company in maritime passenger
and cargo mobility in Spain.

20 SUSTAINABILITY REPORT
Book A 25-year journey
We have presented our stake- In the documentary A 25-year
holders with a commemorative journey, we bring together the
book (you can download it by testimony of experts from the
clicking on this QR) which includes shipping world and main players
our history, the main ships that in the company's history, who
have operated under narrate the beginnings of Baleària,
the Baleària brand the decisions that drove our
Chapter 1
and the thoughts of growth, and the most complex
Origins
25 people linked to moments in our history, as well
our history. as taking a look at the future.

The film was screened in front of

300 people at our headquarters
in Dénia in June, coinciding
with the date of our founding,
which we celebrated with a
fun day full of activities, music
and cultural exhibitions.
Chapter 2
Decisions

Exhibition
In addition, in the various terri-
tories where we operate, the
Baleària Foundation organised
the exhibition '25 years of Baleària'. Chapter 3
This commemorates our journey Future
through the works of a number of
Mediterranean artists.

MAIN MILESTONES IN 2023 21

OUR BUSINESS
MODEL
OUR BUSINESS IN FIGURES

35 ships owned
We own a fleet of 30 ships and 5 auxiliary vessels. In addition, during 2023
5.2 M passengers
For the first time in our history we have transported more than 5 million
we also sailed using 9 chartered vessels. In line with our commitment to passengers, representing a growth of 14% compared to the previous
sustainability, we have 11 ships with dual natural gas engines and 2 electric financial year. In addition, 21% of passengers travelled on one of our
ferries. Our innovative spirit is reflected by the 13 smartships in the fleet. international routes. This data endorses us as a key company for the
mobility of both residents and tourists in the regions where we operate.

6 countries 25 routes
We serve 18 domestic routes through which we connect the 1.4 M vehicles
Spanish mainland with the Balearic Islands (and between them), The number of passenger vehicles transported in the holds of our fleet has
Ceuta, Melilla and the Canary Islands. We are also present at also grown, in this case by 18% compared to the previous financial year.
the international level, and we operate in Morocco, Algeria, The figures reaffirm that the convenience of being able to travel with their
France, the United States and the Bahamas,, demonstrating our vehicle is one of the benefits of maritime transport for passengers.
vocation to be a global shipping company with a local vision.

1,865,000 miles sailed

7.4 M linear metres of cargo
Our crucial role in the economic development of the regions in
which we operate is demonstrated by our goods transport. This
In 2023 we sailed 17% more miles than last year, and our ships have made
increased in 2023 by 6% (in the case of international routes, growth
a total of 41,600 trips counting all our routes. This significant growth in
reached 33% compared to the previous financial year). The 550,000
our operations underlines our position as a leader in maritime transport.
trucks that we have transported reliably and punctually in our holds
have been strategic in the supply of essential commodities.

OUR BUSINESS MODEL 23

 ROUTES FRANCE
Sète

Our network of routes not only

CARIBBEAN facilitates the efficient movement
of passengers and goods, but also
GRAND BAHAMA
Barcelona
boosts the economic development
FLORIDA of different regions. This helps
us build economic and cultural
Fort Freeport Menorca
Lauderdale bridges and strengthen Baleària's
SPAIN Valencia position as a key element in local
U. S.
and global mobility.
Bimini Mallorca
Dénia Alcúdia-Palma For our company, these routes not
Ibiza
THE BAHAMAS only represent business oppor-
Formentera tunities, but also a responsibility
to sustainable development and
Huelva
Motril Almería communication between different
Málaga
communities. Our ability to offer
Algeciras quality services on these key routes
establishes us as a reliable and
essential partner in the shipping
CANARY ISLANDS
Mostaganem panorama.
Tangier

Ceuta
Melilla Nador ALGERIA
Tenerife
Santa Cruz

MOROCCO

Gran Canaria
La Luz
We are a key player in maritime
connectivity linking strategic destinations
24 SUSTAINABILITY REPORT
PASSENGER
TRANSPORT 5,242,000
passengers
+14%
By type of route By zones
At Baleària we are
proud of our 25 years Balearic Islands 50%
Domestic 79%
of experience and Ceuta 21%
the recognition of
our customers as a International 21% International 21%

benchmark in mobility. Melilla 7%

4,121,000 domestic (+9%)
Today, our operations are geared Canary Islands 1%
towards providing our customers
1,121,000 international (+36%)
with memorable experiences
through efficient, digitalised and
reliable services. Our fleet and
shore equipment allows us to excel

1,375,000
in terms of innovation, technology
and environmental protection.

Our aim is to be the leading

vehicles
+18%
shipping company for
eco-friendly and reliable trans- By type of route By zones
port services for our customers
Balearic Islands 52%
and business partners. We set
Domestic 78%
the course for the future. International 22%

International 22% Ceuta 18%

Melilla 6%
1,080,000 domestic (+13%)
Canary Islands 2%
295,000 international (+45%)

OUR BUSINESS MODEL 25

 Domestic routes
We have celebrated our 25th We also recorded double-digit
anniversary with great success in increases in traffic with Ceuta, the
the maritime passenger mobility route with the highest passenger
sector. For the first time, we have volume, and in links with Melilla,
transported more than 5 million with good commercial perfor-
passengers, representing a growth mance and high customer
of 14% compared to the previous satisfaction rates thanks to the
financial year. Our Balearic Island entry of the new cruise ferry
routes, from the mainland and Rusadir.
inter-island, continue to be our
On the routes between Huelva
main market, with high occupancy
and the Canary Islands, operated
rates, especially in summer, and
together with Fred. Olsen
a progressive improvement in
Express, we have consolidated our
terms of deseasonalisation in
presence by offering a third weekly
the rest of the year. Our key to
departure.
offering a differential experience
continues to be our comprehen-
sive ferry service combined with International routes
the competitive advantage of fast
ferries. Our international routes have complex diplomatic situation and
seen a growth in passenger traffic the lower capacity of the vessel
marked by a busy Operation assigned to this service.
Crossing The Strait, or Operación
The Bahamas routes have become
Marhaba.
profitable with good commer-
This season the services have cial and economic results.
been boosted by the presence of This encourages us to
three more ships than last year, continue investing in this
Routes to and from the Balearic in addition to the opening of the region in the future.
Motril - Tangier Med line at the end
Islands continue to be our main of November 2022. Meanwhile, in
Algeria, occupancies on our weekly
market, especially in summer service have decreased due to the

26 SUSTAINABILITY REPORT
Customer ratings
NPS* Satisfaction Ship ratings

42% 8 8
*Net Promoter Score
Measures the likelihood
that customers will recom-
mend the company.

Food quality On-board staff

9.2 8.2
Cleaning Temperature

8.0 7.6
Entertainment

6.4

Our commitment is to offer our customers an

exceptional and pleasurable on-board experience
OUR BUSINESS MODEL 27
 GOODS TRANSPORT
7,414,000
linear metres
We play a crucial role in Thanks to our focus on innovation customers' needs, at Baleària we
+6%
the social and economic and the digitalisation of processes, are not only leaders in maritime
development of the we can meet the logistical needs transport, but also a key partner 550,000 trucks transported
of our customers and guarantee in the sustainable development of
regions in which we a high rate of punctuality in the the regions where we provide our
By type of route
operate. At Baleària we departures and arrivals of our daily services.
Domestic 71%
are aware of the strategic connections between different
importance of supplying ports. Our cargo service schedules
and frequencies are meticulously
essential products to
tailored to meet the logistical International 29%
the different regions demands of our customers.
and, for this reason, 5,278,000 lm
With arrivals scheduled early in
we are committed to the morning, in areas such as
on domestic routes (-2%)
the quality, reliable the Balearic Islands, we optimise 2,136,000 lm
and punctual maritime each journey, allowing a return on international routes (+33%)
transport of goods. trip to be made on the same day.
This operational efficiency not
only benefits our company and
customers, but also contributes
to the economic development of
regions outside mainland Spain,
facilitating reliable cargo transport
and optimising the logistics chain.

Through our commitment to

sustainable energy, logistical
efficiency and a focus on our

28 SUSTAINABILITY REPORT
 We contribute to trade and the economy THE EXPERIENCE
During the last financial year we to Nador from Almería have been
OF OUR CARGO
Linear metres transported
transported almost 7.5 million strengthened thanks to the incor- CUSTOMERS
linear metres, experiencing a poration of a second ship during
6% increase on all our routes Operation Marhaba.
By zones
compared to 2022. Punctuality, One of our top priorities is
On the connections between
Balearic Islands 62% reliability and adaptability to our satisfying our maritime cargo
Huelva and the Canary Islands,
customers' needs have been customers. We aim to be more
International 29% operated together with Fred. Olsen
the cornerstones in consol- than a sustainable business; we are
Express, we have incorporated a
idating our added value. key players in the supply of essen-
Canary Islands 5% third weekly service to optimise
tial goods and food, contributing
The Balearic Islands continue the transport of goods to Gran
Ceuta 2% to the development of the regions
to be our main cargo market, Canaria and Tenerife from Huelva.
where we have a presence.
maintaining similar rates to
Melilla 2%
the previous year, thanks to We understand that shipping is
our comprehensive service central to trade, development and
with six daily ferries to the prosperity, but we also recognise
By type of goods
islands throughout the year. the logistical and environmental
Food products 27% challenges associated with this
In North Africa we have experi-
process. That is why we strive to
Consolidated 17% enced significant growth on
understand our customers' needs,
the routes to Tangier Med, with
especially in terms of sustainability
Building materials 12% reinforcements from Algeciras,
and the digitalisation of supply
offering up to ten daily services
Packaging 5% chains.
with two ferries (four in summer),
as well as a new daily connection We are therefore committed to
Other 39%
from Motril. In addition, services meeting these expectations in our
processes, seeking to minimise
environmental impact and
complying with quality standards.

OUR BUSINESS MODEL 29

 OUR FLEET

Ferries
35
ships owned*
Abel Matutes 23 kn 190 m 900 365 2,235 ml

9
Bahama Mama 23 kn 154 m 1,000 320 1,350 ml

Cap de Barbaria 14 kn 82 m 399 74 246 ml

chartered vessels
Dénia Ciutat Creativa 19 kn 150 m 399 440 1,850 ml

Hedy Lamarr 24 kn 186 m 600 444 2,698 ml

Hypatia de Alejandría 23 kn 186 m 880 500 2,364 ml

Marie Curie 23 kn 186 m 400 107 2,364 ml

Martín i Soler 23 kn 165 m 1,200 517 1,710 ml

Nápoles 23 kn 186 m 1,600 458 1,100 ml

Passió per Formentera 22 kn 100 m 800 108 350 ml

Poeta López Anglada 18 kn 132 m 1,257 243 832 ml

Regina Báltica 19 kn 145 m 1,600 348 1,250 ml

Rusadir* 22 kn 187 m 1,800 576 1,176 ml

Sicilia 21 kn 186 m 1,000 424 2,047 ml

Virot (ro-ro) 12 kn 64 m 20 117 ml

Dual engines Smart ship Measuring sensors Electric** OPS

The ferry Posidonia was in the fleet until May 2023 / * Acquired in December 2023, after being
chartered since March of the same year ** Cap de Barbaria: electric propulsion; Rusadir: dual
fuel electric propulsion.
Ferries chartered in 2023 Kerry, Moby Zaza, Tom Sawyer, Visborg, Volcan de Tauce, Wasa
*1 under construction and 5 auxiliary vessels
Express, Cadena 4, Miramar Express and Shipper

30 SUSTAINABILITY REPORT
Fast ferries

Avemar Dos 34 kn 82 m 900 175

Bimini Blue Marlin 30 kn 39 m 356 -

Cecilia Payne 38 kn 86 m 800 200

Formentera Direct 24 kn 49 m 309 36

Eco Aqua 25 kn 28 m 355 -

Eco Aire 25 kn 28 m 355 -

Eco Terra 25 kn 28 m 355 -

Eco Lux 25 kn 28 m 355 -

Eleanor Roosevelt 35 kn 123 m 1,200 450

Jaume I 32 kn 77 m 626 120

Jaume II 32 kn 81 m 624 150

Jaume III 32 kn 81 m 655 135

Margarita Salas** 35 kn 123 m 1,200 450

Nixe 32 kn 63 m 546 75

Ramon Llull 32 kn 83 m 550 88

Dual engines Smart ship Measuring sensors OPS

** Under construction

OUR BUSINESS MODEL 31

FINANCIAL RESULTS
652 Turnover Main investments

113
million euros in By zones
operating income
million euros
(+15%) Domestic 75%
The company's most significant
International 25%
investments have been focused

117
on improving and optimising fleet
efficiency and on the construc-
By business area tion and acquisition of new,
million euros in more sustainable vessels. Also
EBITDA noteworthy is the drive to
(-16%) Passenger 59% digitalise various key processes.
Cargo 36%
Other 5%

40
million euros in 730
results for the year million euros in
In the 2023 financial year, the
(-40%) social cash flow
shipping company's turnover
(+4%)
reached record levels, exceeding
650 million euros, which repre- This is the value generated by
sents an increase of more than 15% Baleària and how it is distrib-
from the previous year. uted among its stakeholders
The EBITDA amounted to 117 (employees, partners, public
million euros, demonstrating the authorities, investment partners,
solvency and robustness of the and goods and services suppliers).
company's business model.

33
SUSTAINABLE DEVELOPMENT
STRATEGY
At Baleària we are SDG 11: Sustainable cities and
communities
THE NEEDS OF OUR STAKEHOLDERS
committed to playing an
We strive to reduce the environ-
active role in the field
mental impact of cities, especially
of sustainability. To this in terms of air quality and waste
In 2023, we initiated a new dual values and business objectives.
end, we have undertaken materiality analysis to assess
management, through eco-ef- And finally, the integrity of our
how the environment impacts
a comprehensive ficient practices and the use of
the company and how Baleària's
sustainability plan, which will be
process to develop our cleaner energy, such as natural gas.
activities affect the ecosystem
geared towards meeting the needs
of our stakeholders and focused
sustainability strategy in which it operates. We are
SDG 13: Climate action on achieving effective synergies
for the future. We adopt eco-efficient measures
achieving this through dialogue
that amplify our commitment to
with our stakeholders with the
to reduce gas emissions, we are sustainability.
We have now identified that aim of identifying both our
efficient in our shipping, and we
our sustainability efforts are strengths and areas of opportu- We recognise the need for this
align with the various regulations
mainly framed within four of the nity that we need to address. This to be an in-depth and strategic
for the maritime industry.
Sustainable Development Goals analysis anticipates European exercise, so that we can optimise
(SDGs) set out by the United regulations on the reporting and develop our operations more
SDG 9: Industry, innovation
Nations General Assembly. of sustainability indicators. effectively. We therefore look to
and infrastructure
the future with the goal of making
We are continuously working on This process will help us identify
our sustainability pillars public
modernising our infrastructures the key pillars of our strategy,
and implementing a clear and
and using cleaner and more which we will prioritise according
precise strategy. This will enable
sustainable technologies, with to the principles outlined below.
more transparent and effective
a special emphasis on eco-effi-
Firstly, the alignment of our communication with our stake-
cient shipping and natural gas.
strategy with the Sustainable holders and the authorities.
Development Goals (SDGs) and the
SDG 8: Quality employment
current needs of both the world
and economic growth
and society. We seek to make a
We focus on supporting local
positive impact, especially in the
and community-based trade,
communities where we operate.
promoting prosperity and devel-
opment in the different regions in Secondly, the direct linking
which we operate. of our sustainability pillars to
our business operations and
our business philosophy. This
implies consistency with our

STRATEGY FOR SUSTAINABLE DEVELOPMENT 35

 OUR FOOTPRINT IN 2023

PLANET PEOPLE

11 ships with dual

gas engines -8% tC02 /mile ratio 2,500 employees +27% of women
in the workforce
Versatile technology that allows Our shipping has yet again This year we hit a record number of With the aim of achieving equity,
us to reduce emissions and be become more eco-efficient, with employees, which in high season we continue to add more women
ready to sail into the future with the tC02/mile ratio decreasing once reached 2,500 people. to our workforce. Today, more
CO2-neutral renewable sources. In more, thanks to our increased than 80 women hold leader-
addition, this year we are building use of natural gas and other ship positions and we have

94%
our second fast ferry with natural ship efficiency measures. renewed our Equality Plan.
open-ended
gas engines.
contracts

2 62
Practically all of the company's

-28,000
direct employees in Spain are
electric ferries nationalities
permanent, demonstrating our
tC02
We launched the Cap de Barbaria, commitment to job stability. In The richness of our company
thanks to the use of LNG
the first electric ferry in Spain addition, more than 100 people is reflected in the diversity of
Once we had overcome the with zero emissions during port have been promoted internally. our staff, a cultural variety that
unfavourable circumstances, we stays and manoeuvres, and we enriches our daily interactions.
resumed the use of natural gas, also incorporated the cruise ferry
which meant that we were no Rusadir, with an electric propul-
longer emitting these tonnes sion system and dual gas engines.
of carbon dioxide into the
atmosphere.

36 SUSTAINABILITY REPORT
CONTINUOUS IMPROVEMENT AND INNOVATION

9 projects supported
by the EU 380,000
Baleària Club members
We encourage projects that
promote the transition to The number of customers who
clean energy, improve digital are members of our loyalty
connectivity and modernise club has increased by 73%,
infrastructure. reflecting the satisfaction of
our experienced passengers.

17,100,000 77%
website visits local suppliers

We apply new technologies to We forge partnerships with

improve the customer experience suppliers who share our values
through innovations such as the to ensure we have a sustainable
chatbot service, and the facilities impact across our value chain.
and entertainment available on
our smart ships, as well as the
digitalisation of cargo operations.

STRATEGY FOR SUSTAINABLE DEVELOPMENT 37

OUR COMMITMENT
TO THE PLANET
At Baleària we are To achieve this ambitious goal, we In this changing era, we still do not
committed to the have been investing considerable have a definitive solution for decar-
financial and human resources for bonisation. Our effort is significant,
challenge of reducing
many years, as well as continuously and we realise that achieving our
carbon emissions engaging in various research and zero emissions target requires a
to zero by 2050. We development efforts. These include combination of different technol-
understand how complex redesigning our ships, improving ogies, fuels and key partnerships.
this challenge is, but energy efficiency, using renewable We cannot bring about this
fuels and applying new technolo- change alone.
we are convinced that
gies to our fleet.
sustainable mobility The involvement and collabo-
is the only possible Maritime transport is a technically ration of governments, public
complex sector. It always has been. bodies and the private sector is
way to truly help However, in order to achieve our crucial for ensuring the provision
care for the planet. decarbonisation goals, innovation of adequate infrastructure, access
has been playing an increas- to renewable fuels on a large
ingly important role. Faced with scale worldwide, and building
such an ambitious goal, we need socioeconomic consensus on the
solutions that are also not simple. irrevocable, global and common
We are living in a period of transi- challenge of decarbonisation.
tion and, in order to achieve zero
CO2 emissions, we must replace
mature and established fuels,
such as diesel and marine fuel oil,
with other energy sources, most
of which are still in the research or
development phase.

Innovation has a very important role to play

in achieving the decarbonisation goal
OUR COMMITMENT TO THE PLANET 39
 INCREASING REGULATIONS AND DEMANDS THAT DEFINE OUR COURSE

In response to growing These actions aim to regulate emissions and implement more We recognise the global need
concern about climate and significantly reduce eco-efficient shipping practices. for viable proposals to develop
greenhouse gas emissions and minimise our environ-
change –which is no Finally, in 2025, the Fuel EU
associated with the impact of mental impact, underlining the
longer perceived as a fuels used in this industry.
Maritime regulation will come
importance of innovation and
minor issue due to the into force. Its main goal is to
technology in our transition to
Since 2023, the regulatory frame- promote the use of cleaner
clear degradation of the work has been strengthened and fuels by setting standards for
decarbonisation. For this reason,
environment and the three important regulations have maritime fuels. It will oblige
at Baleària we have put ourselves
in the vanguard of this change
impact of industries on been brought in. These measures operators to pay according to the
and we are sailing towards a
it– the European Union not only aim to control and report eco-efficiency of the fuel used,
more sustainable future.
has, over the years, pollutant gas emissions, but also to encouraging cleaner options that
set stricter standards that ensure have less environmental impact.
implemented regulations an effective reduction of maritime
in a number of industries transport's carbon footprint.
Baleària has made a firm commit-
ment to support these EU and
and sectors to accelerate
In January 2023, the Carbon IMO regulations by adapting our
the progress towards Intensity Index (CII), a measure vessels to use energy sources that
zero emissions. introduced by the International generate fewer carbon emissions
Maritime Organisation (IMO), and promoting sustainable
came into force. This aims to solutions in all our operations.
improve the efficiency of fleets That is why we focus on improving
in terms of CO2emissions. the energy efficiency of our ships
and aim to reduce emissions.
Additionally, the European Union
seeks to limit CO2 emissions in In addition to complying with
maritime transport through the EU environmental regulations, we
ETS (Emissions Trading System). see how growing consumer
This came into force on 1 January, climate awareness and a
2024, and obliges ferry operators to demand for future solutions
pay for the tonnes of CO2 emitted, are shaping our operations.
providing an incentive to reduce

40 SUSTAINABILITY REPORT
ECO-EFFICIENCY: OUR MILESTONES

2014/2017 2018 2019 2020 2021 2023 2024 2025/2030

First natural Plan to retrofit Baleària starts Ship sensori- World's first fast First electric- Launch of New ships
gas generator and construct operating with sation project ferry with dual powered ferries the first fast and projects
for passenger ferries to sail natural gas to monitor gas engines ferry with to use renew-
ferries in Spain on natural gas consumption and Europe's dual natural able energies
data in real time first zero-emis- gas engines
Incorporation of
sions trip using
the Eco series
biomethane
between Ibiza
and Formentera

OUR COMMITMENT TO THE PLANET 41

 OUR ENERGY
TRANSITION STRATEGY

At Baleària we These ships, in addition to running

are committed to on fuel oil, are capable of being
propelled by natural gas, the
eco-efficient mobility
cleanest and most mature energy
driven by more planet- currently available.
friendly energies. We
Our company has pioneered the
already have 10 ships, adoption of natural gas as a fuel.
plus one in the final It is worth noting that, although
stages of construction, it is of fossil origin (and for this
that have dual engines, reason we consider it transi-
a versatile technology tional), its environmental benefits
are undeniable: it reduces CO2
that allows us to sail emissions by 30%, decreases
with different fuels. nitrogen oxide emissions by 85%,
and completely eliminates sulphur
and particulate emissions that are
harmful to health.

We are ready to sail into the future with

CO2-neutral renewable energy sources
42
 Eco-efficient sailing
A total of 42,500 journeys were the market or under development,
0.418
-8%
tCO2/mile

made across all our routes that improve energy efficiency and
in 2023, an increase of 12% which we can apply to our fleet.

Thanks to the technology incor-

compared to the previous year.

This translates into significant

This year, we also developed an
action plan, the Save Fuel Plan, to 1,865,000 miles
sailed
porated in these ships, with dual optimise fuel consumption. +17%
growth in our operations, under-
engines prepared to sail into the
lining our position as a leader in The miles sailed in 2023 increased
future with renewable CO2-neutral Consumption
maritime transport. by 17%, while the volume of
energy sources, these engines Diesel 1,089,682 MWh
CO2 emissions increased by 8%,
are able to consume 100% biome-
Natural gas making the ratio of tonnes of CO2 Fuel oil 1,680,568 MWh
thane, as well as green hydrogen
At the end of 2021, due to the emitted per mile 8% lower than in Natural gas 388,258 MWh
mixtures of up to 25%. We also
unfavourable circumstances, we the previous year, signifying more
promote research into biofuels and CO2 Emissions
temporarily reduced the use of gas efficient shipping.
synthetic fuels, considered to be Diesel 282,185 t
to avoid losing competitiveness.
the energies of the future. This data underlines our progress Fuel oil 426,850 t
This year, however, we progres-
and commitment to more Natural gas 70,198 t
sively increased our natural gas
eco-efficient practices, while
consumption to 100 per cent in our Total 779,233 t
pointing to specific areas where
ten dual-engine vessels currently
we can improve to achieve more
capable of sailing on this fuel.

42,500
ambitious goals in terms of
The use of natural gas as an alter- environmental sustainability.
native to fossil fuels has allowed journeys
us to mitigate our environmental
impact by eliminating 28,100
tonnes of CO2 emissions, proving
that this fuel is an efficient and
sustainable alternative.

We are continually studying and

researching systems and technolo-
gies, whether they are currently on

43
 OUR CONTRIBUTION

'Cap de Barbaria', the start of the electric ship era

The year 2023 saw the debut the Cap de Barbaria electric ferry
of the electric ferry Cap de shows that it is possible to sail in
Barbaria, an innovative vessel a cleaner and more sustainable
in the Spanish maritime sector. way without compromising either
Since its launch in May, this first efficiency or operational capacity.
electric vessel has raised the
sustainability and efficiency Reduced emissions
standards in the connection The Cap de Barbaria has reduced
between Ibiza and Formentera. CO2 emissions by 33% compared
to the Posidonia, the passenger
This is not just improved opera-
and cargo ferry it replaced. This
bility, it is a solid step towards
represents an annual reduc-
cleaner and more responsible
tion of around 1,300 tonnes of
shipping. With an electric propul-
CO2 compared to the ship that
sion system powered by lithium
was previously in operation.
batteries and the possibility of
adapting to green hydrogen in It should also be noted that
the future, the Cap de Barbaria the Cap de Barbaria ferry can
guarantees a trip where there are carry almost 100 linear metres
no polluting emissions on either more cargo than the Posidonia,
approaches or stays in ports. increasing energy efficiency per
This vessel not only represents
linear metre of cargo by almost Technical specifications
60% over the previous vessel.
a technical advance in shipping, Length 82 m Electric propulsion
but symbolises our firm commit- Powered by state-of-
Passengers 390
ment to sustainability and the the-art lithium batteries
conservation of the environment. Cargo 240 linear metres (equivalent
H2 Ready
Supported by the European to about 14 lorries)
Ready for the experimental use of
Union's Next Generation Funds,
Speed 14 knots green hydrogen

44 SUSTAINABILITY REPORT
'Margarita Salas', sailing towards sustainability
The Margarita Salas fast ferry is technological innovations
the latest milestone in our plan that will further enhance the
to achieve a more eco-efficient passenger experience and satis-
fleet. It will be the eleventh ship faction levels, thanks to services
to sail with this fuel, when it is such as a free internet connec-
completed in 2024, and improves tion and an on-board digital
on its predecessor, the Eleanor entertainment platform.
Roosevelt, a ship that was already
The name Margarita Salas pays
innovative as the first fast ferry
tribute to the 20th century
in the world to sail using gas.
scientist who pioneered
Considered our new flagship, biochemistry and molecular
the Margarita Salas stands biology and who, like this ship,
out for a 10% increase in power represents innovation and the
compared to its twin, an relentless pursuit of progress.
increase that enhances the
The construction of the ship was
speed by 35 knots. Moreover,
supported by European Union
being a smart ship, it will offer
Next Generation funds.

Technical specifications
Length 123 metres

Passengers 1,200 Digitalisation Interior design Emissions monitoring

QR code access, free internet Priority given to width and Measuring equipment for fuel
Vehicles 450
service, digital on-board separation between seats, consumption , engine efficiency
Propulsion system entertainment platform, video stabilisation system for greater and real-time navigation.
Four water jets and two surveillance system for pets. comfort, floating superstructure Integrated into the Baleària
azimuthal bow thrusters and high-tech insulation. Control Tower project.

OUR COMMITMENT TO THE PLANET 45

 'Rusadir', the cruise ferry with natural gas engines and electric propulsion
In 2023, we added the cruise ferry On-board services
Rusadir to the fleet, a vessel with In terms of accommodation, it
dual natural gas engines and has 261 cabins for customers, with
an electric propulsion system. different categories and capacities,
Its eco-efficient and innovative equipped with a bathroom and
character, together with a wide some with television facilities. It
range of on-board services, make also boasts two cafeterias, a restau-
it a very competitive vessel and rant, a shop, a children's area, a
one of the best-rated in the fleet. cinema, a prayer room, a terrace
and numerous lounge areas.
The Rusadir's propulsion system is
all-electric and features an electric The ship is one of the best-rated
drive plant with dual gas engines. in the company's fleet, with a
It also has two transverse bow customer score bordering on
thrusters plus one at the stern, excellence. They highlight the
with a power of 2 MW each. These, attention of the staff, the cleanli-
together with the electric motors, ness, the quality of the food, and
enable great manoeuvrability. the on-board entertainment.
The sailing comfort of the Rusadir,
which can reach speeds of 22
knots, is guaranteed thanks Technical
to a stabilisation system with
hydraulically operated retract-
specifications Propulsion and engines
able fins. The ship also features Length 187 m Electric propulsion
technical innovations that system powered by dual
Passengers 1,670
minimise noise and vibration natural gas engines.
for greater passenger comfort. Cargo 2,600 linear metres

Speed 22 knots

46 SUSTAINABILITY REPORT
OUR CONTRIBUTION FROM THE BALEÀRIA FOUNDATION

The Baleària Foundation Levantine-Balearic Mediterranean. Posidonia

collaborates with univer- We also collaborate with entities In addition, in 2019, Baleària
sities and organisations to such as the Universitat de les established a working group
understand and conserve Illes Balears, the Universitat de with universities and research
our seas, supporting research València and the IMEDEA in centres to explore the possibility
projects on board our ships. projects to monitor Posidonia, of offsetting carbon emissions in
cetacean fauna and sea Posidonia meadows and the Cádiz
Collaboration in turtles, as well as birds and salt marshes. However, we have
research projects reptiles on Ibiza’s islets. encountered a number of obsta-
We make our ferries available for cles, including the low absorption
scientific teams to use as platforms Sea turtles capacity of these ecosystems, their
for monitoring marine species For years we have been facil- protected status and the lack of
and for research-related travel. existing credit-eligible projects.
itating the transfer of injured
We are currently collaborating
marine animals, especially turtles, After several meetings with
with the Generalitat de Catalunya
to the recovery centre at Palma Fundación Biodiversidad and
and the Pelagicus Association
Aquarium (Mallorca). This year the Spanish Climate Change
in the long-term monitoring of
we also collaborated in the Turtle Office, we are going to present,
endangered marine vertebrates
Camp to monitor turtle nests on together with the working group,
in the waters between Catalonia
a beach in Dénia, in collaboration a pilot project in the next call of
and the Balearic Islands; and
with Dénia Town Council, the the Pleamar Programme. This
with the Nereide Association in
Oceanogràfic de València, the initiative aims to identify areas of
the monitoring of cetaceans by
Universitat de València and the Posidonia that qualify as being
means of marine censuses in the
Universitat Politècnica de València. eligible for compensation, thus
routes to and from Algeciras.
contributing to the conservation
We also collaborate with the A lead-free sea of these crucial ecosystems.
Tursiops Association's Collisions We took part in this project from
project, which aims to under-
the Obesmar Association to
stand the distribution and
collect lead accumulated on the
habitat of cetaceans, especially
coast, mainly from sport fishing.
sperm whales, in order to reduce
the risk of collisions in the

OUR COMMITMENT TO THE PLANET 47

OUR COMMITMENT TO
OUR PEOPLE
Our customers’ We face the challenge of attracting Future aspirations Staff
unforgettable travel and retaining highly qualified and commitments
personnel, both in the fleet and We recognise that our respon-
experiences would be on the ground, aligned with our sibility includes not only
Fleet 56%
impossible without the corporate culture and committed promoting diversity and inclu-
efforts of all the people to our values of responsibility, sion, but also empowering our Land 44%
innovation, solvency and sustain- people in terms of skills.
who work at Baleària, ability. These values not only
the highly trained We highlight the increase in Fleet
define our culture, but also lay the
employee recruitment, job
and motivated teams foundations for building our future.
stability and professional devel-
Men 85%
who are the heart of We believe that our commitment opment, evidenced by measures Women 15%
our company and our to empowering people helps us such as the new fleet agree-
attract and retain the best talent, ment, the updated Equality
purpose. We are well providing strong career opportuni- Plan, and ongoing training and
Land
aware of this. For this ties and creating significant value flexible work programmes. These Men 57%
reason, empowering our for our company. initiatives are aimed at strength-
Women 43%
ening our team, increasing
people is a priority and
motivation and cohesion, and
we do not take it lightly. positioning Baleària as a good
place for professional develop-
ment in the maritime sector.

Our challenge is to empower

people and retain talent by offering
solid career opportunities
OUR COMMITMENT TO OUR PEOPLE 49
 Job creation To achieve our goals, we create our efforts to put the focus on The richness of our company
jobs in our local communities, people f rom the beginning. is reflected in the diversity of

2,500 employees
prioritise job stability with a
high proportion of employees
on permanent contracts, and
In addition, this year we have
had 122 trainees in different
positions, which is 60% more
our staff, a cultural variety that
enriches our daily interactions and
reinforces our position as a locally
promote internal growth oppor- than in the previous year. oriented company with an inter-
Job stability tunities. We strive to promote national vision. More than 40% of
One of our priorities is to be able to
gender equality and value diversity the workforce is international, and

94%
offer job stability, so we try to keep
permanent as a fundamental element that in the Fleet more than 54% of the
our employees in their positions
employees enriches our business. crew are EU nationals.
and promote their growth within
We have generated a large the company, which is reflected in
number of jobs, which has led to the fact that practically all of the
Equity
record staff numbers, with 2,000 company's direct employees in
growth in the

27%
employees on average, and up Spain are on permanent contracts.
number of women
to 2,500 during the high season. In addition, we have promoted
in the workforce
New employees are integrated more than 100 people internally,
into the workplace and working including 14 women in the Fleet
environment through a welcome and 17 on Land.
Diversity
plan that facilitates the trans-
We have also achieved 80

62
mission of our corporate culture,
women in leadership positions,
mission, vision and values, as
nationalities 14% more than the previous
well as our rules of conduct.
year, and we have updated our
New employees have rated their equality plan to ensure equal
on-boarding experience with opportunities and fairness in
an average of 8.6, confirming all aspects of our business.

One of our priorities is to be able to offer

job stability, promoting the personal and
professional growth of our people
50
PROFESSIONAL DEVELOPMENT PERFORMANCE
APPRAISAL SYSTEM

Ongoing training For years we have had a perfor-

mance management system in
Through the Baleària Business skills of our entire team through Training
place that allows us to align the
School we provide training for an online language school
behaviour of our teams with the
the professional and personal
growth of our team.
that combines personalised
tutoring and group conversa-
tions with high quality content.
580,200€
investment
culture and core values of the
company.
We have a variety of ongoing
With this approach we aim, in
training programmes to enhance We have also continued the
addition to achieving our goals, to
employee skills, along with an
internship programme designed
to identify and attract new talent.
training and employment gener-
ation programme aimed at
vocational training students in
25,800
hours
cultivate an environment in which
every member of our team feels
valued and understood, boosting
Morocco, promoted together
In 2023, we expanded the individual performance while
with several Spanish organisa-
catalogue to 100 online courses fostering a strong and coherent
tions and in collaboration with
to boost our employees’ careers. organisational culture.
the Moroccan government. We
We have strengthened the skills continue to enhance the employ- We also trained 80 managers
of both managers and middle ability and workplace insertion and middle managers on how to
managers with leadership and of these students in trades conduct performance appraisal
team management training in related to shipboard services and interviews. This approach focuses
collaboration with the Escuela maritime passenger transport. on making the most of these
de Empresarios de Valencia crucial interactions, in which the
In addition, we have run courses
(EDEM). More than 60 people manager provides feedback.
on LinkedIn so that our employees
have been trained in effective
can work on their professional
strategies to motivate employees,
brand. With regard to maritime
techniques to promote assertive
training, technical training for
communication, and how to set
fleet inspectors and training
achievable goals and objectives.
linked to the incorporation of
In addition, we have fostered the electric-powered vessels are
foreign language communication of particular importance.

OUR COMMITMENT TO OUR PEOPLE 51

 FOCUS ON PEOPLE

In 2023, we launched New flexibility measures

our first flexible pay for land-based employees
programme, Be Flex,
which allows our We incorporated some measures These measures aim to strengthen
employees to use part aimed at facilitating the work-life the team, boosting motivation,
balance of our land-based commitment and team spirit
of their gross salary employees. These are measures to face the challenges ahead.
to purchase tax-free that boost flexibility, but above all
services (such as health they strengthen commitment and Payroll
insurance, restaurant cohesion in all teams to maintain We updated the pay of land-based
vouchers or childcare) our competitiveness. employees in Spain, with a 5.7%
increase on the remuneration
tailored to each We have implemented improve-
received in 2022, as established
employee's needs, via ments to our holiday policy, as
in the agreements, taking the
well as adding a personal day
a virtual platform. accumulated CPI of the previous
and doubling the leave available
year as a reference.
for medical visits. Additionally,
In addition, at the end of the
Central Services employees with
year we held a convention-style
appropriate functions or organi-
meeting where we took stock
sational structures may be able to
of the year in terms of business.
work flexible hours, always taking
More than 400 people from
into account operational needs.
central services, as well as middle
management from all the
delegations and Fleet managers
took part in the meeting.

We incorporated measures to strengthen

team commitment and cohesion
52 SUSTAINABILITY REPORT
New Fleet agreement:
well-being and professional development
In early 2023, we approved a Competitive advantages
new collective bargaining agree- of the new agreement
ment with a clear focus on the
• Four-year term
well-being and development of
our Fleet staff. • Average salary increase of
12% during this period.
This agreement introduces a
target-based pay system for • Introduction of a target-based
specific positions on board, pay system for on-board
together with significant improve- positions with management
ments in key areas such as responsibilities, linked to
on-boarding and career devel- company performance.
opment for crew members.
• Reduction of maximum
Our fundamental purpose goes embarkation periods.
beyond complying with labour
• Pay progression system based
regulations; we seek to position
on company loyalty brought in.
Baleària as a benchmark employer
in the private maritime sector.
By investing in the development
and well-being of our team, we
also seek to increase workforce
engagement and cohesion,
recognising that our people
are our most valuable asset.

OUR COMMITMENT TO OUR PEOPLE 53

 OUR DIVERSITY

Diversity = innovation and adaptation

At Baleària we view plurality as a Algerian customers, as we can
source of wealth and innovation. respond to their telephone
This perspective also allows us to queries in their native language.
adapt to the diversity of our clients.
Currently, 10% of our global
Aware of the diversity of our land-based workforce is based in
customers, we have adapted our Morocco, 3% in the US and 2% in
services on routes to Morocco the Bahamas. As a company, we
and Algeria. This includes offering take responsibility for treating
on-board services aligned with the our staff and our customers fairly
local culture, such as halal food and respectfully, and we have a
and rooms dedicated to worship code of conduct that underlines
and prayer. This has generated a our values and corporate culture.
high degree of client satisfaction. We are committed to providing
tools and safe spaces for all
We also recently expanded our
people, customers, suppliers and
telephone service by adding native
employees.
Arabic-speaking operators during
the high season. This improve-
ment ensures a top-quality
service for our Moroccan and

Diversity gives us a competitive

advantage and allows us to adapt to
meet the needs of our customers
54 SUSTAINABILITY REPORT
EQUALITY PLAN UPDATED

The Equality Plan approved this A diagnosis of the company's situa-

year (which updates the one tion was conducted beforehand,
in force since 2013) includes which determined, among other
measures to promote and things, that there is a symmetrical
maintain equal treatment and distribution of the workforce on
opportunities between men and the Land and an asymmetrical
women within Baleària in all areas: distribution in the Fleet. The pay
recruitment, promotion, salary gap is 7% for positions of equal
policy, training, working condi- value.
tions, occupational health and
Some of the objectives set out
work-life balance.
in the plan are to increase the
It was drawn up by the Equality percentage of women in the Fleet,
Commission (made up of legal eliminate gender bias in selection
representatives of the workers and promotion, ensure women's
and the company) and is valid access to training, promote the
until the end of 2027, when its development of female talent,
implementation will be evaluated favour work-life balance, prevent
so that the next update of the sexual harassment, and promote
plan can be designed. In addition, occupational health from a gender
a Monitoring Commission has perspective.
been set up to ensure compliance
with the measures established.

OUR COMMITMENT TO OUR PEOPLE 55

OUR COMMITMENT TO CONTINUOUS
IMPROVEMENT AND INNOVATION
At Baleària we At Baleària, innovation has been
continually promote key over the last 25 years, and
forms part of our identity. We
projects and tools
are aware of the impact we
designed to improve our generate through innovation and
customers' experience, digitalisation, so we have devel-
optimise operations oped projects in these areas
and reduce our co-funded by Horizon 2020,
Horizon Europe and Next
environmental impact.
Generation funds.

In this way, we ensure that all These EU funds are essential

the parts of our machine work for funding innovative projects
as efficiently as possible. Thanks that drive forward cutting-edge
to the monitoring and digitalisa- technology, promote the transi-
tion of processes, among other tion to cleaner energy, improve
advances, we are able to reduce digital connectivity, and modernise
our impact and contribute to infrastructure.
sustainability.

Our challenge is to reduce our

environmental impact while ensuring
the quality of our customers' experience
OUR COMMITMENT TO CONTINUOUS IMPROVEMENT AND INNOVATION 57
 OUR ONGOING PROJECTS

Adaptation of ships to run on to collect real-time data that Last Mile Poseidon (Power Storage in D
electricity (ABCOE Project) is integrated into our Control (Beyond Sea Project) Ocean)
We plan to adapt two of our vessels Tower. This sensorisation allows We are part of a consortium We are part of a project that seeks
so that they can be electrically us to improve our operations, looking for technological solutions to demonstrate the applicability of
connected to shore while in port. monitor engine parameters and to optimise fuel consumption three fast-response energy storage
This measure will allow us to avoid promote more efficient sailing. and reduce the environmental systems in maritime transport.
using the combustion engines impact of maritime passenger We contribute our experience as a
Horizon 2020

during these stops, instead using transport. The goal is to use big shipowner to help understand the
the electrical energy supplied by data, algorithms and smart data usefulness of these technologies
the port. This pilot project provides Interconnected and Smart visualisation to make operational and their viability in our industry.
a model for adapting other vessels, Systems for Intermodal decisions that minimise environ-
Maritime Cargo Transport
Horizon Europe

thereby contributing to our mental impact and reduce our fuel

ecological transition by eliminating (SIITIM) consumption.
the consumption of fossil fuels and We are working on optimising Digital Twin
reducing CO2 emissions during door-to-door intermodal trans- (Digital Twin For Green
port stays, minimising our impact. port planning and improving Shipping - DT4GS)
cargo traceability. Our goal is Green hydrogen Baleària is heading up a living
to create a smart, intercon- (Green Hysland) lab in which a digital twin of one
nected network to improve We are participating in a project of the sensorised ferries analyses
Vessel Sensorisation (Green efficiency and optimise loading to deploy a hydrogen ecosystem data and improves efficiency. This
and Connected Ports) and unloading at ports, thus in Mallorca, turning the island into project focuses on reducing CO2
We are involved in this initiative, facilitating more effective connec- an H2 hub in southwest Europe. emissions in maritime transport,
whose main goal is to reduce tions between different regions. The aim is to encompass the entire defining decarbonisation solutions
the impact of port operations on green hydrogen value chain on the and aiming for a zero-emissions
cities and to control emissions island to promote a sustainable ro-pax vessel in the future.
generated by ports and ships and eco-friendly alternative.
Horizon Europe

in major European ports.

Horizon 2020

As a contribution to this project,

we installed measurement
equipment on five of our vessels

58 SUSTAINABILITY REPORT
 THE CONTROL TOWER: A STRATEGIC PILLAR

In the digital era, the Baleària Streamlined and efficient decision- on-board actions. This strategy
'Margarita Salas fast ferry' Fleet Control Tower is a strategic making are essential for all of is essential for adapting the
(Green catamaran - TAXOVER) element in our maritime Baleària's business areas, with operational reality to meet its
See page 44 for more information. operations. This advanced a special focus on the fleet. In needs at all times.
system not only monitors a this sense, the Control Tower
We are continuously improving the
large amount of crucial data has two fundamental objectives:
Fleet Control Tower using artificial
in real time, such as location, to transmit the company's
intelligence and big data tools,
‘Cap de Barbaria’ punctuality and speed, but also instructions through information
focusing on monitoring, prediction
Electric vessel includes detailed information panels designed to facilitate
and analysis. We are on the path of
(Zero Emissions Vessel in from sensor vessels, covering key decision-making by captains and
continuous optimisation.
Port Project - BUCEMTO) aspects such as fuel consumption chief engineers; and to intensify
See page 45 for more information. and emissions generated. the flow of information so that
there is optimal control of the

OUR COMMITMENT TO CONTINUOUS IMPROVEMENT AND INNOVATION 59

 EXCELLENCE IN SERVICE
Our digital channels
Digitalised Services
In a context of increasing
digitalisation, the develop-
The evolution of our digital
services has been significant.
We have also implemented the
Smart B web portal, a smart
17,100,000
website visits
ment of solutions that improve travel assistant exclusively for
Our Serena chatbot is a key

430,000
the customer experience has customers travelling on smart
tool that provides customers
been remarkable for Baleària. ships. This portal offers detailed
with relevant information and
information about the journey, the followers on social media
guidance. It is available on
Smart ships purchase of additional services
multiple platforms, including

380,000
Since the introduction of and the possibility of enjoying
the website, social media,
gas-powered ships in 2019, we all the digital amenities avail-
WhatsApp and the Smart B app.
have simultaneously driven the able on board the smart fleet. Baleària Club members
Its effectiveness is reflected in a
digitalisation of on-board services,
significant increase in usage.

157,600
leading to the creation of so-called Sales channels
smart ships. This approach As part of the evolution towards We have also continued to
covers several areas, including digitalisation and efficiency, improve the company's digital users of on-board entertainment
on-demand digital entertain- we have strengthened written sales and loyalty channels. In this services
ment, real-time viewing of pet channels for customer communi- vein, we have developed both

864,000
travel via webcams, and digital cation, reducing call congestion to a new website and an app that
access to the ships and accom- the contact centre and providing improve the customer experience
modation, among other things. fast and convenient information. In by simplifying booking, self-man- conversations with the Serena
addition, we have simplified digital agement and access to member chatbot, with a 98% resolution rate
Communication with clients access to vessels. On domestic benefits; and we have introduced

478,000
In recent years we have intro- routes, passengers can now obtain a new commercial management
duced innovations such as the their boarding passes in QR format system for our Cargo customers.
chatbot and the Smart B portal, via WhatsApp and, on some contacts handled
and we have integrated WhatsApp ships, they can access numbered
as a channel for communi- seats or cabins via QR codes a
cating with our customers. few hours before departure.

60 SUSTAINABILITY REPORT
On-board services
We are committed to ensuring In the high season, we provide pet-friendly seats for pets up to viewing pets via webcams from
an exceptional travel experience a range of entertainment for 8 kg, which must travel in a carrier mobile devices. In 2023, the
from start to finish, through a families, including magic shows, at the owner’s feet or on their lap. number of pets travelling with
wide range of on-board services DJ sessions on the terraces, and All our ships have a dedicated pet us continued to grow, reaching
including: restaurants, terraces children's activities supervised by area, and on some of our smart 86,000 pets transported.
and chill out areas, shops, monitors. ships we offer the possibility of
services for families, and so on, in
In addition, each year we improve
addition to smart ship services,
and renovate our boats to ensure
such as on-board internet and
the comfort and satisfaction of
an on-demand entertainment
our customers. This year we have
system that features newspa-
invested more than 1,300,000
pers, films and games.
euros in completely refurbishing
We currently offer a variety of 3 of our vessels, as well as making
dining options in our cafeterias, changes to 6 other ships.
self-service restaurants and à la
For customers who travel with
carte service. Our restaurants
their pets, we offer pet-friendly
prioritise the use of local produce,
cabins with specific equipment
Mediterranean cuisine and tradi-
and a special cleaning protocol to
tional recipes.
guarantee hygiene. We also have

We strive to provide exceptional

experiences, from local flavours to
fun times for the whole family
OUR COMMITMENT TO CONTINUOUS IMPROVEMENT AND INNOVATION 61
 SUPPLIERS AND LOGISTICS OPERATIONS

Our suppliers and responsible supply chain

At Baleària we embrace a holistic Ethical, economic and quality Dialogue and continuous located in the areas where we have
approach to ensure that our optimisation improvement branches. We play a driving role in
sustainable impact encompasses We prioritise ethical and trans- Constant dialogue allows for the regional economies where we
our entire value chain. That is parent relationships with suppliers, mutually beneficial adjustments, operate, supporting local suppliers
why we are committed to forging evaluating quality, efficiency strengthening business relations. who share our core values.
partnerships and working together and prices for mutual benefit.
At Baleària we define local
with suppliers who share not only
suppliers as those establishments
our values, but also our common Unified procurement
goal of promoting sustainability procedure
and decarbonisation. This allows us to simplify
procurement, ensuring coherence
Our supplier selection and certi-
and the consistent application of
fication strategy is key to our
sustainable criteria.
commitment to sustainability.
This process not only contributes Ethical business compliance
to the ethical aspects, but also Recruitment is governed by
generates significant economic compliance with our Code
benefits for our company. of Ethics, contributing to an
ethical and responsible business
We base this process on five key
environment.
elements that ensure consist-
ency with corporate social Environmental and social

76.7%
responsibility and foster stable focus
and sustainable relationships. We focus on ethical and local
suppliers to reduce environmental
impact and strengthen out of a total of
communities. 8,069 suppliers
are local

62 SUSTAINABILITY REPORT
Transforming logistics operations
We have modernised and to board without having to go
optimised our digital cargo through the ticket office, speeding
model with the aim of delivering up the entire process.
significant benefits to the cargo
Additionally, carriers have a
transport cycle.
dedicated mobile app that offers
With the comprehensive digital- various functionalities to enhance
isation of the logistics cycle and their boarding experience and
the launch of a dedicated website facilitate access to on-board
for cargo customers, we give services.
greater autonomy to customers
This makes our cargo transport
so that they can manage their
model more efficient and faster,
bookings and better plan their
leveraging the benefits of digitali-
logistics thanks to the availa-
sation for our customers.
bility of real-time information
on the status of their assets.
In terms of boarding control, the
people responsible for operations
on the quayside are provided
with real-time information on the
progress of boarding through
digital devices. This allows drivers

We provide our customers with greater

control over their bookings and real-time
information through an exclusive platform
OUR COMMITMENT TO CONTINUOUS IMPROVEMENT AND INNOVATION 63
STRATEGIC ALLIANCES AND
OUR ACTIVE PARTICIPATION
BALEÀRIA FOUNDATION

The Baleària Foundation, Baleària Cultural

set up in 2004, is an

280
The Foundation actively promotes Among these shows, the collective
essential pillar of our
the Llonges de la Cultura, a exhibition '25 years of Baleària'
social and environmental network comprising both its own stands out, which celebrated our
actions
commitment. spaces and venues in collaboration company’s professional history.
with third parties, to facilitate the This exhibition toured the Llonges
Its primary mission is to support
social, cultural, sporting and
exchange of cultural expressions
between the different territories
de la Cultura in different regions,
including Ibiza, Menorca, Mallorca,
150 collaborations
environmental initiatives in the where we operate. Dénia, Ceuta and Melilla.
regions where we operate, with the
fundamental goals of enriching
the quality of life of society,
Over the last year, 39 exhibitions
were held in our 8 Llonges de
la Cultura, in which more than
In addition, the exhibition
'Balearics 5 years' was organised
as a tribute to the collective show
1,098,000€
promoting culture, respecting the Investment in
300 artists took part and which that, since 2018, has brought partnerships or
environment and strengthening
attracted more than 33,000 together more than eighty sponsorships
social cohesion.
visitors. Mediterranean artists in five
Over the years, the Foundation has editions.
forged significant partnerships
with organisations in various fields,
in line with the principles defined
in the Code of Business Conduct
and Ethics.

The Foundation carries out its

activities in four main areas:
EcoBaleària (whose main actions
are described in the section 'Our
commitment to the planet'),
Baleària Cultural, Baleària
Solidarity, and Baleària Health.

65
 Baleària Solidarity Baleària Health
Within the framework of Baleària promote actions to improve the The Baleària Foundation the Autonomous Community of
Solidarity, one of the Foundation's quality of life of these people. actively supports local sports Valencia.
main goals is to promote initiatives clubs in the regions where we
In this fourth edition, a number In addition, the 'Healthy Routes'
aimed at improving the quality operate, supporting them in
initiative stands out as a signif-
of life of groups at risk of social of products were sold featuring their participation in national
icant programme, consisting
exclusion, while boosting equal a design inspired by Sustainable events and collaborating with
of monthly trips for Baleària
opportunities, interculturality, Development Goal 5: Gender various sporting activities. The
employees. This year more than
integration and diversity. In 2023, Equality, courtesy of the artist Foundation has established
360 people took part in the 12
more than 50 solidarity actions more than 100 agreements with
Xavi García. The profits were routes. This programme not only
were carried out, among which the sporting organisations in all the
donated to the Matria Women's promotes physical activity and
following stand out: regions in which it operates, thus
Association, to help develop health among the workforce,
strengthening its commitment
projects against gender violence. but also reflects the company's
SolidarizArte to the promotion of sport at
commitment to the well-being
This is a project conceived to the local level. It has also estab-
Humanitarian aid and quality of life of its employees.
support, through art, non-profit lished a new agreement with the
The Foundation has collaborated
organisations that work with Trinidad Alfonso Foundation, with
disadvantaged groups and with various humanitarian aid the aim of promoting sport in
initiatives aimed at countries such
as Ukraine, Morocco and Syria,
among others.

In addition, other solidarity actions

have been carried out, including
blood donation campaigns, charity
walks, toy collections, and aid
for families in vulnerable situa-
tions, thereby consolidating the
Foundation's commitment to
social responsibility and contrib-
uting to the welfare of society.

66 SUSTAINABILITY REPORT
RELATIONSHIPS WITH SOCIETY ALLIANCES AND
PARTICIPATION

Awards Our active involvement with

society is reflected through various
Workplace Inclusion Achievement associations and organisations
Award for Best Workplace Recognition for Lifetime that share our corporate values
Inclusion Practice in the 6th Achievement at the Excellence and contribute to our business
edition of the Diversity and in Tourism Awards from 8 vision focused on sustainability.
Inclusion Awards given by the Mediterráneo TV.
We currently contribute to 34
Adecco Foundation and the Club
organisations, including profes-
de Excelencia en Sostenibilidad. Sponsorship
sional and trade associations,
Prize for the Best Sponsoring
business entities, foundations
Entrepreneur of the Year Entity for the Baleària Foundation
and non-profit organisations
Adolfo Utor, president of Baleària, at the Consell d'Eivissa Sports
dedicated to various issues,
received the Businessman of the Awards.
tourism and environment-related
Year Award at the 1000 Companies
bodies, and research and technol-
Awards presented by El Diario de Sustainability
ogy-related organisations. We
Mallorca. Sustainability Action 23 for the
are proud to promote business
electric ferry Cap de Barbaria, at
that is responsible both in terms
Excellence the Sustainability Day 2023 event
of the environment and people,
Award for Excellence in Coastal organised by CompromisoRSE.
and we recognise the need to be
and Nautical Tourism at the Ibero-
actively involved in other initiatives
American Blue Economy Awards.
to maximise this contribution.

We are proud to be a company recognised for our

efforts in innovation, digitalisation and excellence
67
About this report For the first time, we have focused the further details on some of the issues
entire content of this report on the covered in this report and is available at
information, data and activities within www.balearia.com
This Sustainability Report aims to
the period of our financial year. Reports
provide a transparent and accurate Both the Sustainability Report and the
prior to this edition included data and
view of the performance of the entire NFIS are based on the European CSRD
activities for the calendar and financial
Baleària Group, focusing on the (Corporate Sustainability Reporting
year, depending on the content.
organisation's impact in the economic, Directive) through which the European
environmental and social spheres, as The Non-Financial Information Commission seeks to improve
well as creating long-term value for Statement (NFIS) of Baleària Eurolineas sustainability reporting by companies
our stakeholders. On this premise, the Marítimas S.A.U. was published in on their social and environmental
document covers all those aspects and February 2024, and covers the 2023 impact.
initiatives that are considered relevant financial year (from November 2022
For any questions about this report,
both internally and externally. to October 2023). This report provides
please contact
[email protected]

Credits

Published by: Baleària, February 2024

Photographs: Baleària archive

Printing: D Print

Paper type: Arena Extra White 120 g