BAM Abbreviated Annual Report 2011 - Siteseeing in the world of ...

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Construction management for 36 MW Green Bear wind farm for Vestas, north Poland. Insert: Nitrogen buffer in salt cavern for Gasunie, Heiligerlee, the Netherlands. Consultancy en engineering Key figures for the consultancy and engineering sector (x €million) 2011 2010 Revenue 1 223 210 Result before tax 1 15.2 13.6 Margin before tax 1 6.8% 6.5% Order book (year-end) 1 n.a. 101 1 Classified as discontinued operations.
Tebodin Consultants & Engineers is an independent multidisciplinary consultancy and engineering firm that operates worldwide with 3,500 employees. Tebodin has some 50 offices throughout Western, Central, South-Eastern and Eastern Europe, the Middle East, Asia and Africa. Tebodin’s worldwide office network is important for providing optimum services not only to local clients, but also to ‘global clients’ that Tebodin serves in many countries. Tebodin’s turnover for 2011 increased by 6 percent to €223 million (2010: €210 million). The result before tax was €15.2 million (2010: €13.6 million). The margin was 6.8 percent (2010: 6.5 percent). The company’s staff increased by 700 people to a total of 3,500. Tebodin achieves approximately 40 percent of its turnover in the oil and gas market. The energy and environment, health and nutrition, industrial and infrastructure sectors each account for approximately 10 percent of turnover, while the chemical sector contributes 15 percent. The remaining 5 percent comes from projects from the property sector. Tebodin’s global client list grew significantly, accompanied by an increasing number of countries in which Tebodin has worked for specific global clients. Examples of global clients in new countries are DSM in the Netherlands, Belgium, Germany, China, India, Vietnam and Taiwan, Huntsman in the Netherlands, Germany and Indonesia, Michelin in Hungary, Romania, Poland, Brazil, China and India, Praxair in the Netherlands, Belgium, Russia and the Ukraine and SGL Carbon in Germany, China and Malaysia. The proactive approach towards sustainability all through the network produced an increased amount of work. Teaming-up and sharing knowledge between offices and countries is key for providing sustainable solutions. Several LEED/BREEAM certification projects have been realised (for example, DSM, DMS Zealand, Neinver and Caterpillar). The number of certified LEED/BREEAM consultants grew to a total of 17. The international office network continued to grow. With the new office in Jakarta, Indonesia, Tebodin entered another country to offer consultancy and engineering services. It is the fourth Tebodin office in the South Asia and Asia Pacific region. In Western Europe the offices in the Netherlands saw a growth in the number of employees since the economic crisis began at the end of 2008. New framework contracts were obtained from Nuon and BP. Bigger projects were scored for Huntsman and Gasunie. The major EPC underground nitrogen storage project for Gasunie is running on schedule with the official ‘take-over’ of the nitrogen injection section. Overall completion is also on schedule for the third quarter of 2012. Furthermore, the Netherlands scored projects for AgriPure, Heinz and DMV-Fonterra. In Germany, the organisation was adapted to market conditions in early 2011. Kemira awarded a sizeable project which comprises the engineering and construction management of a new flocking agent plant. Tebodin finalised the design of piping for a new power plant in Boxberg for KSC (investor: Vattenfall). Sales activities from the Belgian office resulted in a long-term framework agreement for engineering and project management services from BASF Antwerp. In most places in Central and South-Eastern Europe sales increased. The Czech Republic scored projects for the extension of Skoda Auto plants in the home country and in India. In Poland and Hungary, several new contracts were won from producers of green energy. In Poland especially, where ‘wind energy’ is a significant topic, Tebodin became involved in 15 wind farms. Other wind farms are under construction in Romania. In Eastern Europe, good market opportunities combined with the strong market position led to great sales in Russia. Several green field projects were contracted, such as those for Knauf Insulation, IKEA, Siemens, Magna International, Cargill and Heinz. With two projects won for Cargill, Tebodin worked for them in Russia on four projects simultaneously. The Ukrainian market conditions were more difficult mainly due to political reasons. Many projects were acquired from clients in the steel market and from international financial institutions. The offices in the Middle East – United Arab Emirates, Qatar, Oman and Bahrain – together kept on growing, thanks to a general positive climate on the one hand, and the staffing of the big EMC service contract for PDO in Oman on the other hand. The offices work for clients in the oil and gas, industrial, infrastructure, water and chemical sectors. A major order was won from the Qaiwan Group for a refinery expansion in Kurdistan, Iraq. Other 101 2011
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2011 Abbreviated Annual Report
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Key figures (in €million, unless
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Foreword Royal BAM Group nv hereby
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Outlook Royal BAM Group started 201
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Construction and mechanical and ele
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Better results are generally accomp
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2. Optimum exploitation of strength
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24 22 20 18 16 14 12 10 8 6 4 2 0 S
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Dividend policy Dividend policy and
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Report by the Supervisory Board to
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Fotobijschrift: 19 2011
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eported in each case on the state o
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Multipurpose complex for care and s
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and reported to the Supervisory Boa
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27 2011
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to the financial objectives (maximu
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The variable remuneration actually
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The graduated scale shown below app
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The company has no other remunerati
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C.M.C. Mahieu (1959) Ms Mahieu grad
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Financial results Report by the Exe
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Result per ordinary share The numbe
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Oman Botanical Garden, Muscat. BAM
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of €16 million and a super divide
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financial year and the subsequent f
Page 51 and 52: manner with regard to the other mem
Page 53 and 54: Sporen in Arnhem: modernisation and
Page 55 and 56: Approximately 130 metres-high ‘De
Page 57 and 58: Netherlands with a remaining term m
Page 59 and 60: N218 Hartel canal cycle bridge (600
Page 61 and 62: On the one hand, the operating comp
Page 63 and 64: ensure that it consistently and eff
Page 65 and 66: carrying out this project but was n
Page 67 and 68: Corporate Social Responsibility Pol
Page 69 and 70: Green walls and roofs of the BSH In
Page 71 and 72: Worker participation European Works
Page 73 and 74: y 7.7 percent in 2012. On the other
Page 75 and 76: Royal BAM Group is active in the co
Page 77 and 78: 18 homes in the Elzenhagen neighbou
Page 79 and 80: The company continued to perform st
Page 81 and 82: Four school buildings for Alfons Ke
Page 83 and 84: Royal BAM Group operates in the Dut
Page 85 and 86: Underground high-voltage link for t
Page 87 and 88: Design of quay wall and mooring jet
Page 89 and 90: Renovation and expansion of Tottenh
Page 91 and 92: Silberberg Railway Tunnel (7.4 kilo
Page 93 and 94: Laela-Sumbawanga road improvement p
Page 95 and 96: The Dutch property activities recor
Page 97 and 98: Redevelopment of a former domestic
Page 99 and 100: 97 2011
Page 101: BAM PPP is responsible for Royal BA
Page 105 and 106: Financial statements 2011 104 Conso
Page 107 and 108: Consolidated income statement (x
Page 109 and 110: Consolidated statement of equity (x
Page 111 and 112: Company balance sheet at 31 Decembe
Page 113 and 114: The Supervisory Board shall determi
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Page 117 and 118: Royal BAM Group nv Royal BAM Group
Page 119 and 120: 2006 2005 2004 2003 1 2002 IFRS IFR
Page 121 and 122: 119 2011
Page 124: Royal BAM Group nv Runnenburg 9 398
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