Annual Report 2008 Sustainable design & engineering - Grontmij

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Foreword At the end of 2008 and with many markets in turmoil, Grontmij can look back on a period in which a lot has been achieved. Over the last five years, the strategy and services portfolio have been adjusted, our debts have been reduced significantly, profitability has increased and, due to the acquisition and subsequent integration of Carl Bro, the Group has become a major European player. In 2008, we further strengthened our international portfolio through strategic acquisitions, including Whitelaw Turkington, Trett Consultants, Roger Preston & Partners in the United Kingdom; Teldako in Sweden and KPI Systems in Poland. In Belgium we acquired a participation in Libost, and in the Netherlands we strengthened our portfolio with the acquisition of Stoel & Partners. We reduced our project development and waste processing operations and earned prestigious awards. We also made ourselves heard in international debates on sustainability. At the end of 2008 we have a full order book for over a year going forward. Our most important targets achieved in 2008: o an operating margin on revenue (EBITA on Total Revenue) of 7.7%; o an increase in earnings per share of more than 17% compared with 2007; o an interest cover ratio in excess of 9.3; o repayment of € 20 million on the loans for the Carl Bro and United Kingdom acquisitions. Our strength lies in a combination of deep knowledge of technical solutions and the environment, organisational skills and project management capabilities throughout the lifecycle of the built and natural environments. Our extensive network of offices in Europe ensures that we are capable of making a substantial contribution to the achievement of a sustainable working and living environment, not only through large-scale projects but also and primarily through numerous smaller, regional projects. From 2009, we have adopted the Global Reporting Initiative throughout the Group. Conducting business in a sustainable, socially involved manner is encapsulated in the day-to-day work of our planners, designers and engineers. The international economic crisis may lead to new opportunities for the creation of a fundamentally new vision on a sustainable society and economy. Climate change and the need for greater sustainability in the global economy compel us to search out and achieve new concepts and solutions through multidisciplinary processes. We intend to be one of the leading companies in the field of sustainable design, consultancy and management. Thanks to hard work and good collaborations of our people, we have already taken huge steps in the right direction. The Executive Board would like to express its appreciation to the Group’s clients and staff. Douwe van der Werf, CFO of Grontmij N.V., has decided to leave the company. For more than five years he has successfully contributed to the development of Grontmij. I would like to thank Douwe for his hard work, loyalty and support in helping to restructure and grow the company. The outlook for 2009 In the autumn of 2008, what had started with the US sub-prime mortgage crisis, rapidly turned into a full-blown, global financial crisis – almost overnight. The shock was tremendous and its tremors are being felt in the real economies of both our home markets and the rest of the world. Since the fourth quarter of last year, market conditions have continued to deteriorate, mainly affecting the building and industrial related services. Our focus on sustainable design and management services, however, delivers strong inflow in our order book in the energy, water and environment sectors not least through our innovative solutions, such as SHARON and Pharmafilter, and other technologies. Our knowledge and the increasing needs of our clients in the transportation sector also secure a steady stream of orders that we expect to be of a structural nature. 8 GRONTMIJ | ANNUAL REPORT 2008
With about 70% of our assignments coming from governments, semi-governmental and utility companies and with a diversified order book for well over one year in Europe, we are well positioned. The economic crisis is causing some governments to stimulate their economies by investing substantially in major infrastructural and energy-saving projects. We expect this will positively affect the greater part of our activities. On the other hand, the deteriorating market circumstances will lead to greater uncertainty and unpredictability of market growth and price setting. Our strategy is clear, our portfolio has a sound spread and we have a committed and experienced workforce. Although we are confident about the future, given the increased uncertainty and dynamics of the current economic environment, we will further refine our outlook when we announce interim 2009-performance. De Bilt, 11 March 2009 Sylvo Thijsen Chief Executive Officer GRONTMIJ | ANNUAL REPORT 2008 9
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Report Stichting Preferente Aandele
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Country management BELGIUM Frans Sm
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Offices See for our offices: www.gr
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Annual Report 2008 Sustainable design & engineering - Grontmij

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