Message from the CEO
TBI can look back on a good year, with improved performance on many fronts. The housing market was strong and the outlook on the infrastructure and non-residential market was brighter. Conditions on the Marine & Offshore market, by contrast, were depressed by low oil and gas prices. Operating revenue rose by 9% to €1,708 million. The operating result from ordinary activities advanced sharply to €28 million. We were awarded some very prestigious engagements, including the contract for the new office of Triodos Bank in Driebergen, which will showcase the importance of circularity. Other projects we won were Little C on Coolhaven in Rotterdam, the Kriegers Flak wind park in the Baltic Sea and the renewal of the Antwerp road link as a member of the Rinkoniên consortium. In addition to these contracts, our companies were awarded many small and medium-sized engagements.
Create the future
The construction industry is a key facilitator of major social and spatial changes. Together with other construction and engineering companies, knowledge institutions and the government, we are working on the Construction Agenda, a roadmap to keep our cities accessible, make the housing stock more sustainable, design energy neutral buildings and build a million new homes before 2030.
The Construction Agenda’s ambitions are reflected in our mission – TBI: Create the Future – and in our strategy en route to 2020. TBI improves the quality of housing, work and mobility by developing and realising smart, sustainable and future-proof solutions in the built environment. Our strategy for the years ahead is founded on three interlinked pillars:
- Market leadership
We will maintain and strengthen our position in the market wherever possible by continually investing in innovation and operating close to the client. We will achieve robust financial results by prioritising the quality of operating revenue, strict risk control and optimal project management.
- Circular entrepreneurship
We are working with full conviction on a circular construction economy in order to create a sustainable built environment and 100% circular operations. Re-use is our guiding principle.
- Attractive workplace
We want to recruit and retain well-trained young people with a variety of competences. People with a fresh look and the digital know-how necessary to strengthen our companies. And we are seeking people with technical skills. TBI wants to offer talent the best working environment and be the preferred employer in our industry.
Our Strategy 2020 will strengthen the group’s profitability and provide further opportunities for investment. Investing in product and process innovation and new concepts creates value for our clients. Our decentralised group structure close to the client and the interaction between our engineering companies and our construction and infrastructure operations are a significant competitive advantage. We are flexible and agile, and we can make a telling contribution to overcome the challenges facing the construction industry.
Re-evaluation of professional skills
In order to overcome the challenges, the constrution industry sector must recruit 55,000 new workers in the next five years. Advanced technologies will help overcome the construction challenges but they are certainly not the industry’s holy grail. Recruiting the professionals we need, from supervisors and carpenters to electrical engineers and calculators, is at least as important. Without their skills, new technologies are nothing more than flights of fancy. TBI will therefore continue to optimise the interaction between vocational training courses and learning pathways in order to guarantee a permanent inflow of professionals.
Our companies again won and realised many prestigious projects in 2017. Some of them are featured in this report. Each one is an illustration of how we integrate our core qualities of craftsmanship, entrepreneurship and innovation.
We are looking to the future with confidence. The housing market is continuing to grow, although growth is being delayed by the availability of locations. Volumes in the non-residential and infrastructure markets are beginning to pick up. The 11% increase in the order book to €2.4 billion provides a springboard for the years ahead.
We would like to thank everyone who has contributed their dedication, knowledge, expertise, experience and skills to TBI in the past year. And we are grateful to our clients, employees, shareholder and partners for their support and trust.
Rotterdam, 20 March 2018
CEO of the Executive Board, TBI Holdings B.V.