How To Understand And Understand The Culture Of Imtech

Royal Imtech N.V.

www.imtech.com/csr

Sustainability

Report 2014

Royal Imtech N.V. Quinterium Offices I Kampenringweg 45a 2803 PE Gouda P.O. Box 399 2800 AJ Gouda The Netherlands T +31 182 54 35 43

Corporate Social Responsibility

T +31 182 54 35 43 R oy al I mt ec h N .V . S u st ai n a bi lit y R ep or t 2 01 4

Design & production

Domani B.V., Weesp, The Netherlands

Photography

Carel Kramer, The Netherlands Van der Kloet, The Netherlands Jeff Cheng, Singapore Hasse Bengtsson, Sweden

Royal Imtech N.V. Quinterium Offices I Kampenringweg 45a 2803 PE Gouda P.O. Box 399 2800 AJ Gouda The Netherlands Telephone +31 182 54 35 43 info@imtech.com www.imtech.com

Corporate Social Responsibility Telephone +31 182 54 35 43 csr@imtech.com

Royal Imtech N.V.

www.imtech.com/csr

Sustainability

Content

Preface from the CEO 05

1. Imtech at a glance 07

Imtech profile 07

How we create value 08

The context of Corporate Social Responsibility 11 Introduction 12

2. Corporate Social Responsibility at Imtech 13

3. Summary of the CSR data 2014 18

4. Domains and topics

Market 21

GreenTech 23

Supply Chain 24

Environment 27

Carbon footprint (CO₂) 28

Employees 31

Business Ethics 33

Health & Safety 37

Society 39

Corporate Citizenship 40

5. About this report 43

Independent Auditor’s Assurance Report 46 Attachments 49

GRI G4 table 50

Key

figures

55%

of our most material

projects (in size and risks)

have a

GreenTech

label.

(50% in 2013)

The percentage of the cross-divisional

framework contracts with the

Code of

Sustainable Supply

rose from

to

Our total

CO

₂

footprint

in 2014 is

(85.5 kton in 2013)

in 2014

82%

derives from mobility and

18%

is from our

locations worldwide.

of our employees participated

in an

integrity

training

programme.

The average

sick leave

percentage of Imtech

employees is

(2013: 3.4%)

In 2014 we had

429

Lost Time Injuries (2013: 471)

and

1

fatal injury (2013:0).

In the Transparency Benchmark

of the Dutch Ministry of

Economic Affairs Imtech rose from

the

88th

place

to the

Top 50

66%

61%

78.7

kton

3.5%

75%

At the same time, our markets also continued to respond to long-term global challenges, such as changing demographics, climate change and environmental degradation. As a leading technical services provider, we are convinced that we have an important role to play in helping our customers address these issues. Our use of innovative and more sustainable technology is central in this regard, as are our internal measures to increase energy efficiency. Our GreenTech projects are good examples of this trend, which you can also read more about in this report.

This is our second stand-alone Sustainability Report. It contains an overview of our performance against key social and environmental targets and describes our plans for improving on them in the years ahead. Although we recognise that Imtech still has much to accomplish in recovering its operational performance, we remain committed to our sustainability goals. With our strong fundamentals in place, we look forward to continue to make a positive contribution for the benefit of our stakeholders.

Preface

from the CEO

Dear Reader,

The year 2014 has been an important one for Imtech in its on-going journey to recovery. Thanks to the confidence and support of our stakeholders and the continuous efforts of our people, we have stabilised our financial position and strengthened the sustainability of our business.

The sale of our ICT division and rights issue, along with the implementation of new agreements with our lenders, have normalised our financial situation. Having turned this important corner, we are now focused entirely on making a difference for our customers, by providing the highest quality solutions and services. Despite these advances, our year was also tragically marked by the loss of one of our colleagues at Imtech VS Teknik in Sweden. Our safety culture is one of our top priorities, so we are determined to learn from this incident and reinforce our practices to better protect the safety and wellbeing of our people and contractors. To this end, we held ‘Safety Stop’ discussions at all our project sites worldwide and accelerated the

implementation of new procedures and trainings. These efforts are described in more detail in chapter 4 of this report.

The subject of ethics also continued to receive our close attention, as we dealt with legacy issues from the past. We are pleased to report that the steps taken since 2013 to improve our approach to governance, risk and compliance, and to promote a culture of transparency and personal responsibility are already yielding results. We are seeing the steady transformation of our culture, into one that is fully aligned with our company values. Throughout the year, many of our markets continued to experience high levels of uncertainty. This required us to continue adapting our organisation to meet these conditions in the best possible way. This regrettably resulted in job losses, which have been necessary to secure our competitiveness in the market and the future

‘

We are seeing the steady

transformation of our culture into

one that is fully aligned with our

company values.

’

Imtech profile

Royal Imtech N.V. is a European technical services provider in the fields of electrical, automation and mechanical solutions. With approximately 22,000 employees, Imtech holds attractive positions in the buildings and industry markets in the Netherlands, Belgium, Luxembourg, Germany, Eastern Europe, Sweden, Norway, Finland, the UK, Ireland and Spain, the European market of Traffic as well as in the global

marine market. Imtech offers integrated and multidisciplinary total solutions that lead to better business processes and more efficiency for customers and the customers they, in their turn, serve. Imtech also offers solutions that contribute towards a sustainable society - for example, in the areas of energy, the environment, water and traffic. Imtech shares are listed on Euronext Amsterdam.

Imtech

At a glance

Electrica

l

Automation

Mechanical

Installation

Testing & Commissioning

Operate & Maintain

System Integration

Engineering

Design

82%

18%

countrie

35

s

input

our organisation

output

Projects

Prioritising margin over volume: 3.9 billion euro

Human capital

Intellectual capital (expertise of

our employees) 22,193 (FTEs)

22,193

FTE

78.7

kton

€ 1,173

mln

€ 3.9

billion

Energy + mobility

CO2 footprint: 78.7 kton

CO2 through assets / locations: 14.2 kton

CO2 through our fleet: 64.5 kton

Procurement

Spend on raw materials & goods: 1,173 mln + 1,088 mln third parties

Customer intimacy

and partnerships (joint ventures, (preferred) supplier(s)

Innovation value

8 R&D /

Test labs & Competence centres

Assets

Locations: approx. 450 in 35 countries

GRC Programme

1 e-learning programme on integrity, critical thinking and loyalty: 75% covered

Competences

Electrical + Mechanical + Automation, and integrated solutions

Training human capital

100+ Incompany programs on operational excellence

100+

75%

450

8 x

Employee skills

Project management and execution (design, engineering, supply, assembly & construction, installation, commissioning, asset & site management, service & maintenance, training)

3.5%

55%

55%

(213)

mln

Financial key figures

Operational EBITDA margin: (0.8%) Operational EBITDA: (31.9) mln euro Cash flow: (213) mln euro

Customer value & retention

55% Recurring business Employee well-being Employee retention: 90% Sickness rate: 3.5% Community value 83 initiatives in local-for-local corporate citizenship GreenTech

Almost 55% of total revenue of our most material projects (in size and risks) Marine

Water

Energy

Building s Traffic & Infr

a Industria

l

How we create value

We create economic, social and environmental value

through delivering integrated technical solutions. The expertise of our employees assist our customers in reducing the total cost of ownership of their facilities and help them achieve their sustainability goals. We aim to create an environment in which our people feel passionate about taking ownership and delivering results for the communities in which we operate.

82%

18%

countrie

35

s

input

our organisation

output

Projects

Prioritising margin over volume: 3.9 billion euro

Human capital

Intellectual capital (expertise of

our employees) 22,193 (FTEs)

22,193

FTE

78.7

kton

€ 1,173

mln

€ 3.9

billion

Energy + mobility

CO2 footprint: 78.7 kton

CO2 through assets / locations: 14.2 kton

CO2 through our fleet: 64.5 kton

Procurement

Spend on raw materials & goods: 1,173 mln + 1,088 mln third parties

Customer intimacy

and partnerships (joint ventures, (preferred) supplier(s)

Innovation value

8 R&D /

Test labs & Competence centres

Assets

Locations: approx. 450 in 35 countries

GRC Programme

1 e-learning programme on integrity, critical thinking and loyalty: 75% covered

Competences

Electrical + Mechanical + Automation, and integrated solutions

Training human capital

100+ Incompany programs on operational excellence

100+

75%

450

8 x

Employee skills

Project management and execution (design, engineering, supply, assembly & construction, installation, commissioning, asset & site management, service & maintenance, training)

3.5%

55%

55%

(213)

mln

Financial key figures

Operational EBITDA margin: (0.8%) Operational EBITDA: (31.9) mln euro Cash flow: (213) mln euro

Customer value & retention

55% Recurring business Employee well-being Employee retention: 90% Sickness rate: 3.5% Community value 83 initiatives in local-for-local corporate citizenship GreenTech

Almost 55% of total revenue of our most material projects (in size and risks) Marine

Water

Energy

Building s Traffic & Infr

a Industria

The context of Corporate Social Responsibility

We operate in a worldwide business context that gives us the opportunity to work in a responsible way. The worldwide context determines the topics on which we focus.

Context Imtech’s Response CSR Topics at Imtech

All over the world major challenges are being faced - how to protect dwindling natural resources and how to reduce greenhouse gases that harm the environment. We are convinced that new, innovative technology can play a key role in finding solutions. The driving forces in the GreenTech industry are five megatrends that will shape society and politics worldwide over the coming decades: demographic change, urbanisation, globalisation, scarcity of resources and climate change.

As a technical services provider we can make a positive contribution by offering our customers innovative solutions.

GreenTech

We offer sustainable solutions for customers combating climate change and preserving biodiversity.

As we work in a chain of partners we can influence and contribute towards achieving a responsible and sustainable supply chain.

Supply Chain

We have introduced our Code of Sustainable Supply and examine its effectiveness.

CO₂ emissions impact our climate. By identifying the source of our carbon emissions we can focus on reducing our negative impact.

CO₂

We have measured Imtech’s global carbon footprint with the aim of reducing our emissions in various ways.

The Governance, Risk and Compliance (GRC) rulings and legislation around the world are placing renewed emphasis on good governance and ethical behaviour.

We strengthen our GRC framework in order to give employees guidance on handling ethical issues that might arise in the course of doing business.

Business Ethics

We have designed a programme that will lead to greater ethical awareness, underpin consistency in application and deal properly with ethical issues and dilemmas.

Technical operations in the fields of energy, industry, infrastructure and buildings are subject to a variety of safety risks for those who do the work.

We want to ensure that all our employees and any involved third parties are properly protected so that the risks of job-related accidents are limited.

Health & Safety

Safety is a top priority at Imtech. We have reinforced our Health & Safety plan, including corporate goals so as to continue building a proactive safety culture.

The global rise of social media - which gives stakeholders more power, has resulted in a constant 24/7 real-time news flow that puts the spotlight on companies at all times.

We communicate with stakeholders thus allowing them to address potential issues before they intensify and minimising the risk of blow-ups. Ultimately, a stakeholder

engagement strategy helps us maintain our social license to operate.

Corporate Citizenship

We aim to communicate with our stakeholders transparently and frequently so a concern can be addressed before it becomes an issue.

Worldwide local authorities are increasingly withdrawing from the concept of the welfare state and seeking to share the responsibility for citizens with local companies.

We want to accept our responsibility by sharing our resources to help solve social challenges. We aim to support the local communities of which we are a part through investment in projects and knowledge exchange.

At Imtech, Corporate Social Responsibility (CSR) means helping to meet the world’s growing economic, environmental and social needs in responsible ways. We do that by focusing on business related topics where we can make a difference and create win-win situations. This is our second sustainability report that measures the performance of the entire organisation.

This report has been written for our stakeholders – customers, colleagues, shareholders, students, non-governmental organisations (NGOs), suppliers, partners and anyone who is interested in Imtech. In 2014 we focused on operational excellence and continued to improve the quality of our reporting process in order to build a solid basis for the further development of the topics that we address. We asked KPMG to provide limited assurance on selected indicators on our 2014 sustainability report. We continuously focus on further strengthening of our global approach on all CSR topics mentioned in this report.

As we aim to add value to our customers by offering sustainable solutions, we asked their feedback on our services. In this report, we include quotes of customers about our service on various projects within our organisation. It highlights the economic, environmental and social value that we add in many different ways.

During the year, our sustainability approach was discussed with various stakeholders in order to analyse the materiality of our topics. Based on those discussions we have set a number of new, more ambitious goals for the future. We would like to thank all the stakeholders who critically and constructively contributed towards this process. Together we are improving Imtech’s performance. We would like to continue our dialogue and invite you to give us your feedback on our performance, either in meetings or via e-mail: csr@imtech.com.

Dorien Wietsma

Director Corporate Communication & CSR Royal Imtech N.V.

Introduction

At Imtech, Corporate Social Responsibility (CSR) means helping

to meet the world’s growing economic, environmental and social

needs in responsible ways. We do that by focusing on business

related topics where we can make a

difference.

Mission

Our CSR mission is derived from Imtech’s overall mission of developing technology that improves business and society. We aim to be the preferred technology partner of our customers through delivering technical solutions that help reduce the total cost of ownership of their facilities.

Strategy

In line with Imtech’s overall strategy in which operational excellence is one of the cornerstones, the CSR strategy is designed to ensure that we obtain complete and reliable data on the non-financial topics we consider most critical for Imtech. In 2014 we further improved our reporting process. The CSR strategy is developed at a corporate level in close cooperation with our divisions. Our divisions are responsible for implementation in their specific situation at a local level. The strategy defines four domains in which we want to make a difference: market, environment, employees and society. In these domains we focus on 6 topics, each with key performance indicators that will enable us to measure our performance accurately and report the results.

Chapter 4 of this report gives more information on the domains and topics, including our performance, targets and actions.

Ambition

We aim to create win-win situations for the market, the environment, our employees and society by introducing solutions that help customers achieve their sustainability goals; preserve the environment and scarce resources; enhance our employees’ well-being; and engage stakeholders and support local initiatives that solve social challenges.

Governance and responsibilities

The Board of Management is responsible for the CSR targets and performance. In 2014 the Supervisory Board has been updated on the topics in every meeting. The CSR director reports to the CEO and works closely with the directors of the divisions (Executive Council) and Imtech’s global CSR Team. Each division director has appointed a contact person as a member of the CSR Team. Each CSR Team member has formed a divisional

Corporate Social

Responsibility

at Imtech

Figure 1: CSR domains and topics

GreenTech Carbon footprint _(CO

2)

Business Ethics _CitizenshipCorporate

CSR Taskforce. The members of the Taskforces are responsible for collecting the required data. Once the data has been collected the controllers verify and validate the CSR data and results. The division directors are responsible for the results of their own division. In addition to the CSR Team there are various other global teams within Imtech that focus on Health & Safety, Human Resources, Communication, Control, Governance, Risk & Compliance and Procurement. Together with the Investor Relations director they form the Expert group that provides input for the CSR topics.

Development of CSR policy &

Materiality Analysis

In 2014 we further built on the CSR approach that has been revised in 2013. We continued to address our most material issues which are supported throughout the entire group, based on a materiality analysis including stakeholder dialogues, benchmarking, media analysis and a risks-opportunities analysis. In addition, we further developed the quality of our reporting process, amongst others on the basis of the interim review findings of KPMG. Based on the findings we extended and updated our reporting manual with consistent definitions on key performance indicators and we trained our employees. The CSR approach within Imtech continues to focus on the identification of business-related developments, collecting reliable data based on the identified topics, visualising best-practices, and yearly reporting of our performance and progress. We will repeat this materiality analysis yearly.

Materiality Analysis

Materiality Analysis What did we do? Main findings Our response a. Stakeholder dialogue Meetings with in- and

external parties.

Issues are material and need further development.

As described in this report, all suggestions were taken seriously and put into practice. Based on these analyses, we have adjusted our approach and

ambitions. Chapter 4 of this report describes the measures and adjustments that we made.

b. Benchmarking Internal benchmark with seven divisons as well as external benchmark with six competitors in our markets and best performing companies.

We all address similar topics, relevant to our sector. Imtech distinguishes from the others in three ways.

c. Media analysis We measured the tone of voice in the media and analysed their interest.

This analysis underlines the materiality of our topic ‘Business Ethics’ and our approach to transparent communication.

d. Risks-opportunities analysis

We derived this analysis from a broader risk analysis included in our annual report.

The risk-opportunities analysis underlines the materiality of all of our CSR topics, and support our aim to be a responsible technology partner.

Figure 2: CSR governance at Imtech

Board of Management Executive Council CSR Team CSR Taskforces Co n tr ollers Expert Grou p

a. Stakeholder dialogue

As part of our materiality analysis, we consulted

different stakeholders during the year, to check whether our environmental, social and community approach met their expectations and worked as well in practice as on paper. The CSR director held internal meetings with Board members, the Executive Council, the management teams of our divisions, Young Imtech, the Works Council and the various global Councils at Imtech. Some external stakeholders were also consulted including the Dutch Ministry of Economic Affairs, VBDO, KPMG Sustainability and customers to get their feedback on the importance of sustainability and our 6 topics. Their views are highlighted in chapter 4 of this report.

In short, the feedback resulted in various conclusions, such as:

■

■ The definition of Imtech’s GreenTech projects needed

some more clarification (see Chapter 4);

■

■ The reporting on Health & Safety needed to be

improved and extended with additional KPIs;

■

■ Validation processes needed to be improved in various

business units;

■

■ Imtech’s materiality analysis needed to be described

more in-depth;

■

■ Consider integrated reporting as to illustrate that the

non-financial and financial topics interrelate. As described in this report, all suggestions were taken seriously and put into practice. In 2015 we will start integrating our financial and non-financial report for we recognise the financial impact of the non-financial topics on the business value drivers for our company and we aim to make that more visible in the future. This integrated report will make us more aware of our performance and it will affect the value perception of stakeholders.

b. Benchmarking

In 2014 we introduced an internal benchmark and presented the results of each of our divisions compared to the overall results of the group in the various management teams. By sharing best-practices we deepened the discussion on the ambitions and goals per division. In a nutshell, we found that each division had made significant progress in its reporting method, for the first time including all business units. This resulted in complete and reliable data for the Imtech Group, which has been our main focus in the previous year. We also found that performance differs between divisions.

For example, the Health & Safety performance of our division Imtech UK & Ireland is well developed thus serves as a best-practice for the other divisions. The benchmark made all divisions aware of their performance in comparison with the other divisions and gave clear insight in the various levels of performance on our 6 topics.

In addition we analysed the non-financial performance of players in the sectors in which we operate: Vinci Energies, Cofely (GDF Suez), Spie, Caverion, and Bilfinger Berger. Like last year, we found that each company’s vision focuses on the long-term and is linked to its corporate strategy. The most relevant topics are related to the business and support customer focus and global challenges. The topics are comparable to the topics that had also been on Imtech’s agenda in the previous years. Most topics center around the environment and employees. In all businesses safety is a top priority. Imtech’s CSR approach differs from the above mentioned examples in three ways:

■

■ Imtech appears to be more transparent in disclosing

figures on health & safety performance, business ethics and supply chain management;

■

■ Imtech defined and measured ‘GreenTech’ as a label

for its sustainable projects in order to define smart goals to increase this percentage;

■

■ Imtech combines a bottom-up with a top-down

approach and will further diversify and tailor its approach per division.

Each year the Transparency Benchmark of the Ministry of Economic Affairs in the Netherlands scores the level of transparency of the 244 largest companies. In 2013 Imtech ranked 88th and our goal was to significantly improve our score by continuing to increase

transparency. In 2014 Imtech rose to the Top-50. The benchmark examines ten categories. We have increased our score for transparency about our company profile and management approach but we had a lower score for reliability of the 2013 figures, mainly due to the fact that we did not have our data independently assured. To increase transparency and reliability of our data, we asked our accountant to assess our 2014 data and as a result we now include an assurance report from our accountant in this report (see pages 46 – 47). Next year we aim to further improve our score in this benchmark.

‘By sharing best-practices we

deepen the discussion on our

ambitions and goals.’

c. Media analysis

We monitored and analysed the articles and perception of the press. Being headquartered in Gouda and stocklisted in Amsterdam, it means that in the Netherlands Imtech receives most media attention. That is why we decided to limit this analysis to the Netherlands.

In 2014, in total 699 articles were published in the main Dutch newspapers about Imtech (508 items in 2013). 47% of the coverage included articles on the rights issue and our debt reduction program and 42% refer to legacy issues in some parts of the group. The articles on the legacy issues negatively impact our reputation and underline the importance of addressing the CSR topics like business ethics and community investment. The tone of voice in 2014 is slightly less negative compared to 2013 as a result of an increased amount of neutral and positive coverage about Imtech’s recovery plan and completing its debt reduction program (50% of the

Risks-opportunities analysis

Risks Opportunities CSR topics Domains

Financial and reputational risks of partnerships with third parties or suppliers.

We contribute towards sustainable relations in the supply chain.

Supply Chain Market

Financial and environmental risks of negative impact on the environment as a result of our operations.

We help our customers with mitigating climate change and reduce our own carbon footprint.

GreenTech CO2

Environment

Financial and reputational risks, and the risk of negative media exposure due to unethical behaviour.

We raise the awareness of business ethics and create a culture in which people take responsibility.

Business Ethics Employees

Social, financial, and litigation risks of job-related accidents.

We enhance employee vitality by providing a safe working environment.

Health & Safety Employees Reputational damage arising from

business disruptions have a negative impact on shareholder value.

A successful stakeholder engagement strategy helps to maintain our social license to operate.

Corporate Citizenship Society

Reputational and social risks of neglecting our social responsibility are a threat to our license to operate.

We help to solve social challenges by offering our expertise and technology to society.

These and other risks are described in more detail in our Annual Report 2014, which is available on our website:

www.imtech.com.

articles are neutral to slightly positive compared to 45% in 2013). In the other countries in which we operate it was totally different in 2014 as the media published hardly anything about Imtech. The media analysis in the Netherlands reflects our firm commitment to transparently communicate about legacy items. It also

Pos Neutral Neg 64 279 HY1

2013 2013HY2 2014HY1 2014HY2

46 33 21 50 35 15 50 40 10

Tone of voice

Imtech per

half year

(Slightly) positive Neutral (Slightly) negative

underlines the importance of the topic ‘business ethics’ that has been further developed in 2014 (see chapter 4 of this report).

d. Risks-opportunities analysis

The risk-opportunities analysis (see page 16) is derived from a more extensive risk analysis included in our annual report and underlines the materiality of our CSR topics. These topics strongly support our aim to be a responsible technology partner.

Development of CSR programme

The internal and external input from the stakeholder dialogue, benchmarking, media analysis and

risks-opportunities analysis has substantiated our CSR topics and resulted in the decision to stick to the previously addressed topics (see figure 1 page 13).

Transparent Communication

In 2014 we developed a CSR communication strategy to report on our performance and goals. We mainly focused on internal communication and organised dialogues with all divisions on our results and ambitions. We updated our corporate website and intranet, distributed a summary of the sustainability report of last year per division and shared best-practices in meetings with our stakeholders. This sustainability report presents our social and environmental performance separately. Our financial performance is reported in Imtech’s Annual Report. Both reports can be downloaded from our website: www.imtech.com.

Next steps

Next year we will continue to strengthen our

performance on the topics. We will extend our reporting on health & safety with an additional indicator: the number of near misses. We have set one definition and clear key performance indicators and from January 2015 onwards we will measure the number and nature of the near misses. We will also deepen the discussions on our KPIs and targets, as to inspire our people to focus on the desired behavior. In 2015, we will develop an approach to integrate the financial and non-financial results as we aim to integrate our reporting in an integrated annual report 2015.

Presentation of the CSR data

In 2014 we measured the key performance indicators of 6 topics in 4 domains for the second time. On the following pages you will find a summary of all topics, key performance indicators, results and targets. Since we report on the same indicators, we can now report our progress and the trend compared to the previous year. In order to be able to compare our results with the results of 2014, we have excluded the results of Imtech ICT in our 2013 figures as this division has been divested in 2014.

In chapter 4 we highlight the four domains, including management statements of our Board on each domain and an indication of the financial impact of the topics on the business value drivers for our organisation based on the input and output of our organisation (see pages 8 – 9). This indication is by no means exhaustive, but it demonstrates how we make the link between

sustainability factors and company costs and revenues. Per domain we present our topics including highlights, targets and actions. In conclusion, chapter 5 comprises background information on our CSR reporting process and definitions of words and concepts used in this report.

Imtech UK & Ireland

Project: Imtech signs contract for 3MW Anaerobic Digestion plant in Hertfordshire.

Tony Wilson, Director of Construction and Operations at Tamar Energy: “We selected Imtech for their robust EPC delivery solution. Imtech has significant expertise in delivering complex projects in a cost-effective and innovative way. The

ex-power station site is exceptionally complex, with numerous challenges, including a flood plain location, ecological considerations, high pressure gas main through the centre of the site, adjacent 400kVa high voltage overhead power lines, in ground power lines and an adjacent historic asbestos landfill. Using its experience of previous schemes, Imtech has already shown us how it will be able to deal with these complex issues and add value to this project and others, going forward.” Adding value to our customers

Summary of the

CSR data 2014

Market

Environment

GreenTech

Carbon footprint (CO

2

)

Supply Chain

Percentage of total revenue of our most material projects (in size and risks) with a GreenTech label.

Total carbon footprint (kton / per FTE).

Percentage of

cross-divisional framework contracts that include the Code of Sustainable Supply (CoSS).

Percentage of divisional framework contracts that include the Code of Sustainable Supply (CoSS).

STRATEGIC TARGETS 2014 – 2015

■

■ _{10% increase of GreenTech projects.} ■

■ _{Increase awareness of GreenTech solutions.}

STRATEGIC TARGETS 2014 – 2015

■

■ _{Increase the percentage of}

cross-divisional framework contracts that include the Code of Sustainable Supply (CoSS) to 70%.

■

■ _{Increase the percentage of}

divisonal framework contracts that include the CoSS to 60%.

■

■ _{Audit suppliers that signed}

the CoSS.

51%

*

(3.54 ton per FTE)* (3.59 ton per FTE)

* _{Part of KPMG assurance. Please see assurance report on pages 46 – 47.}

STRATEGIC TARGETS 2014 – 2015

■

■ _{5% reduction of the CO}

2 footprint per FTE

compared to 2013. 55% 2014 2013 50% * 78.7 2014 2013 85.5 * 66% 2014 2013 61% *

M T&I S N UK&I G&EE L B NL

Society

Corporate Citizenship

Health & Safety

Number of community investment initiatives.

Severity Rate (SR).

Number of injuries not leading to absence.

Number of Lost Time Injuries (LTI).

Number of fatal injuries.

STRATEGIC TARGETS 2014 – 2015

■

■ Implement and specify key targets in

divisional H&S plans.

■

■ _{Gain insight in divisional actions and}

management systems.

■

■ Structure the H&S reporting process. ■

■ _{Implement safety principles in GRC}

programme.

■

■ Assess each division (using our

self-assessment tool).

■

■ _{Share best-practises and progress on}

safety performance in 4 cross-divisional groups and meetings.

STRATEGIC TARGETS 2014 – 2015

■

■ _{Defining a stakeholder engagement strategy.} ■

■ _{Development of a mechanism to share best-practices.} ■

■ _{Evaluating KPIs and targets on community investment.}

STRATEGIC TARGETS 2014 – 2015

■

■ _{100% participation of employees in Imtech divisions in an}

integrity training programme.

■

■ _{100% roll out of the GRC programme in Imtech divisions.}

109

*

429

*

1

*

744

75%

*

Number of reports relating to (alleged) violations of the code of conduct.

Percentage of employees that participated in an integrity training programme.

91

*

83

Number of reports that lead to dismissal(s).

2.7

The Netherlands Belgium

17.6

21.0

Luxembourg

2.4

UK & Ireland

12.5

Nordic Spain

13.7

Traffic & Infra

4.3

Marine

10.6

19.2

Germany & Eastern Europe

Injury Frequency index (IF).*

Employees

Business Ethics

11

*

Market

Management

statement

‘ Sustainability is an amazing boost for innovation. Therefore it is

our ambition to stimulate innovation as an approach to working.

Any employee at Imtech with a good case for smart solutions for

our clients is more than welcome to introduce these at Imtech.

Innovations become visible in our ‘GreenTech’ projects.

As a technical services provider we offer our customers smart

solutions that reduce their CO

₂

emissions and help them meet

their sustainability goals. In introducing new solutions to the

market we cooperate with suppliers. We take responsibility for

the supply chain in which we operate.’

CSR topics and their financial impact

Sustainability

Topic Impact on business Sustainability Topic Impact on business

Impact on business value drivers Impact on business value drivers

GreenTech Supply Chain

Business opportunity as preferred supplier Lower reputational risk Initial investment Intensify relationship with reliable suppliers Reduced (energy) costs Reputational opportunity Business opportunity as reliable

Market

Imtech recognises that the rapid technology-driven progress the world has undergone in the past 200 years has caused some of the challenges now being faced including climate change, dwindling natural resources and establishing a circulair economy. We are convinced that new, innovative technology can play a key role. As a technical services provider we can make a positive contribution towards this by offering our customers smart solutions. We work in a chain of partners and suppliers and we aim to contribute towards a responsible chain.

New environmental policies, and increasing environmental awareness in many countries of the world lead to an increasing demand for environmentally friendly solutions. The green tech industry will drive growth in traditional industry sectors as an improvement in energy and material efficiency ensures a strategic edge over international competitors. The driving forces in the green tech industry are five megatrends that will shape society and politics worldwide over the coming decades: demographic change, urbanisation, globalisation, scarcity of resources and climate change. We are convinced that these will ensure a

transformation toward a green and circulair economy in which the green tech industry and other sectors work together for mutual benefit. The growing number of innovations in traditional industries promotes the development of new, and the refinement of existing, green technology. Imtech would like to play an

important part in this development as preferred partner of our clients.

GreenTech

We see innovation as one of the most important ingredients to strengthen our market position. It is our ambition to offer innovative solutions that help our

customers achieve their sustainability goals. One of the ways we do that is through our so-called GreenTech projects – the Imtech label for sustainable projects. We define a GreenTech project as ‘a project where the result for the client reduces the environmental impact when compared to the current market standard for conventional technology and conventional

implementation’. Each year Imtech executes thousands of projects around the world. In order to be able to assess the GreenTech projects we defined the scope and decided to limit the number of projects in order to increase the reliability of the results. We chose to focus on our most material projects (in size and risks), which are subject to the assessment of the Tender Board. The Tender Board not only studies the risks involved in a project, it also considers how we can use a smart approach or innovative concepts to stay ahead of the competition. All projects listed in Imtech’s Risk Management System are assessed on GreenTech criteria.

‘ It is our ambition to

offer innovative

solutions that help

our customers achieve

their sustainability

goals.’

Imtech Traffic & Infra

Project: SolaRoad, the Netherlands

SolaRoad is being developed by the Netherlands’ TNO research institute, North Holland Province, Ooms Civiel and Imtech Traffic & Infra.

Minister Kamp: “SolaRoad is a world first that will put the Netherlands on the map as a leader in sustainable innovation.”

Highlights in 2014

■

■ A total of 194 projects were

assessed on GreenTech, 100 of these projects did meet the criteria and were awarded the GreenTech label.

■

■ In general, GreenTech work-areas

of Imtech are the installation of (combined) heat and power plants (waste-to-energy), air handeling units, geothermal cooling and heating and energy-efficiency measures in LEAD and BREEAM buildings.

Strategic targets 2014-2015

■

■ 10% increase of GreenTech projects. ■

■ Increase awareness of GreenTech

solutions.

Activities that support our targets

■

■ Sharing best-practices in our divisions. ■

■ Highlighting innovative solutions

in communications.

■

■ Improve mechanism to assess projects

on GreenTech criteria.

■

■ Collect customers’ feedback on our

GreenTech solutions.

GreenTech

Percentage of total revenue of our most material projects (in size and risks) with a GreenTech label. (2013: 50%)

55%

*

In 2014, we calculated that 55% of the total revenue of Imtech’s most material projects could be defined as GreenTech projects (50% in 2013). As we aim to play an important role on the green tech market, our strategic target was a 10% annual increase of GreenTech projects. The results are slightly lagging behind our ambition, mainly due to difficult economic conditions in the markets in which we operate. Remaining pricing pressures sometimes hinder the use of innovative solutions. It is apparent that the introduction of

Another example of GreenTech at

Imtech UK is the ‘Minworth Gas to Grid’.

Minworth is Severn Trent Water’s largest

wastewater treatment works, treating

the majority of the sewage arising from

the Birmingham area. We, in joint

venture with Laing O’Rourke, are

providing full EPC delivery of a biogas

upgrading facility to process 1,200 m

3

_/hr

of excess raw biogas.

sustainable solutions takes time, so we have

compromised on the pace at which this should happen. We have aligned the GreenTech targets with the other CSR targets and made them biannual instead of annual. To raise the awareness of GreenTech solutions, we have shared best-practices and highlighted innovative solutions in our communications, for example in our magazine I’mtech and on our websites. In Germany, our Research Centre developed a training on green tech solutions and introduced the programme to a group of managers. The feedback of this training was that there is much more to this than just having certain ambitions, it is also about how they are introduced to customers and put into practice.

In 2015, we will continue to share best-practices on GreenTech competences with our divisions, including the lessons learned from the training in Germany. In addition, we will ask customers to share their

experiences with our GreenTech solutions as to internally raise the awareness of the importance of innovative solutions for our customers.

* _{Part of KPMG assurance.}

An example of a GreenTech project at Imtech Traffic & Infra is the development of the

so-called ‘SolaRoad’ in the Netherlands, the world’s first-ever road to convert sunlight into

electricity. This sustainable innovation generates solar energy by the road which can be used

to power street lighting, traffic lights, electric cars and even households.

‘ Supplier assessment

showed satisfactory

compliance with our

Code of Sustainable

Supply’

Supply Chain

It is our ambition to influence the supply chains in which we operate and contribute towards responsible supply chains. In our Code of Sustainable Supply (CoSS) we have formulated our ambitions to positively influence these supply chains. We aim to work on these ambitions together with our suppliers who possess a great deal of specific expertise in the area of sustainability. We do, therefore, expect our suppliers to accept and to comply with the CoSS and we will help them to achieve our ambitions.

During 2014, we continued to focus on getting the CoSS accepted by our suppliers. At the end of 2014, 66% of our cross divisional framework contracts contained the CoSS. This exceeds the objective that was set in 2013 to have the CoSS accepted in at least 60% of all cross-divisional framework contracts in 2015.

The percentage of our divisional framework contracts that include the CoSS increases a bit slower from 44% in 2013 to 51% in 2014. The reason for this slow increase is that we first focussed on the cross divisional framework contracts and later in the year we started to give more attention to the divisional framework contracts. In 2015 we will continue to focus on the importance of our principles in the CoSS including labour conditions, health & safety, environmental issues, management systems and business ethics. We expect a further increase of the divisional framework contracts including the CoSS in the coming year.

In order to understand the impact of our CoSS, we assessed the extent to which suppliers that accepted the CoSS, actually complied with the CoSS. Based on a supplier self-assessment amongst 310 suppliers, with a response rate of over 50%, it showed that the general compliance is satisfactory. To be able to evaluate the effectiveness of our CoSS, we also conducted a limited number of audits ourselves and found no critical issues. Based on the first findings of the supplier audits, there did not seem to be a reason to adjust the CoSS at this point in time, however we certainly need more input. In 2015 we will continue to audit our suppliers in order to keep a thorough view on the sustainability of the supply chains in which we operate.

The CoSS is published on our website www.imtech.com

Imtech Netherlands

Project: Maintenance at Paleis Het Loo Nationaal Museum, Nederland Openluchtmuseum, Rijksmuseum Twente, Kröller-Müller Museum and Museum Catharijneconvent. Imtech Netherlands won the maintenance contract for several museums in the Netherlands. The contract was awarded through a European tender, based on price and plan. These include securing the updates of all technical systems.

Eric van de Ven, tender manager: “Imtech has a special relationship with the Kröller-Müller Museum. This museum is named after Helene Kröller-Müller, who once donated her complete art collection to the museum. Helene Kröller-Müller is the daughter of Wilhelm Müller, founder of the company Wm H. Müller & Co, that later on developed into Internatio-Müller NV, and which is Imtech today.”

Highlights in 2014

■

■ In 2014 the percentage of the

cross-divisional framework contracts containing the CoSS was 66%.

■

■ 51% of our divisional framework

contracts contain the CoSS.

■

■ Supplier self-assessments showed

that the general compliance with CoSS is satisfactory.

■

■ Limited number of audits revealed

no critical sustainability issues.

Strategic targets 2014 – 2015

■

■ Increase the percentage of

cross-divisional framework contracts that include the CoSS to 70%.

■

■ Increase the percentage of divisional

framework contracts that include the CoSS to 60%.

■

■ Audit suppliers that accepted the CoSS.

Activities that support our targets

■

■ Sharing best-practices across divisions

regarding further improving sustainable supply.

■

■ Executing cross-divisional activities

that focus on auditing suppliers with respect to the CoSS.

■

■ Continue to audit our suppliers to

monitor the supply chains in which we operate.

Supply Chain

Percentage of cross-divisional framework contracts that include the Code of Sustainable Supply (CoSS). (2013: 61%)

Percentage of divisional framework contracts that include the Code of Sustainable Supply (CoSS). (2013: 44%)

66%

*

51%

*

Environment

Management

statement

‘ All over the world we face major challenges of how to protect our

resources and how to reduce greenhouse gas emissions that

harm the environment. As a technical services provider we feel

responsible for our environmental footprint. By identifying the

cause of it, we can focus on reducing our negative impact. It will

help protect the environment and it is also a good business

driver. We see great potential for Imtech here, but we particularly

want to stay away from ‘window dressing’; we take our

responsibility for the environment seriously, because it pays off.’

Sustainability topic and its financial impact

Sustainability

Topic Impact on business

Impact on business value drivers Carbon footprint (CO₂) Reduced costs Initial investment of measuring Business opportunity as preferred (responsible)

Environment

Europe is committed to reducing CO₂ emissions in 2020 by 20% compared to 1990. Globally those goals vary, but all over the world the environment is under pressure due to the emissions of greenhouse gases. At Imtech we aim to continue to reduce our carbon footprint and

strengthen our competitiveness.

Carbon footprint (CO₂)

We feel responsible for the carbon footprint resulting from our own business activities. 82% of our CO₂

emissions derives from mobility (company vehicles, rental cars1_{, air travel) and 18% of energy usage of our own}

(office) locations. In 2014, Imtech’s total carbon footprint

amounted to 78.7 kton compared to 85.5 kton in 2013. We reduced our total carbon footprint with almost 8%, the carbon emission per employee (FTE) slightly decreased from 3.59 ton in 2013 to 3.54 ton in 2014. This is a slightly dissapointing result, the more because we had a 6.7% reduction of employees in 2014 (22,193 FTEs in 2014 compared to 23,788 in 2013). In 2015 we will continue to focus on CO₂ reduction initiatives, such as energy savings at our locations and greening our fleet, in order to reach our strategic target 2015 to reduce our carbon footprint per FTE with 5% (compared to 2013).

GHG-scope CO₂ emissions 2014*

CO₂ emissions 2013 Scope 1 58,718 tonnes 63,625 tonnes Scope 2 8,478 tonnes 9,868 tonnes Scope 3 11,482 tonnes 11,994 tonnes

1 _{Our divisions Germany & Eastern Europe and Nordic did not report on}

rental cars in 2014.

* Part of KPMG assurance. Imtech Netherlands

Project: IJsselland Hospital and Imtech Netherlands enter into multi-year contract.

Peter Draaisma, chairman of the Board of Management of the IJsselland Hospital: “A hospital’s core business is caring for patients, not technology. Imtech has proved to be a reliable partner for technical installations and energy management. Working together with an expert partner taking care of all things technological allows us to improve the efficiency and quality of our technical installations while reducing energy costs. The reason we chose Imtech as our partner at the time is that Imtech was already doing this work in hospitals. In addition, Imtech struck us as a company with the same entrepreneurial mind-set we have: solving problems, keeping our eye on the goal and having the drive to get there. We have confidence in this mindset.”

Adding value to our customers

CO

₂

emissions per source

*

Business travel Air travel Company vehicles Energy use on locations

14.1

Energy use on locations

53.1

Company vehicles Air travel

4.7

Business travel by privately owned vehicles

6.8

Highlights in 2014

■

■ 53.2% of our total electricity

consumption derives from green energy sources (2013: 49%).

■

■ 47.5% of the total gas usage on

the locations of Imtech Germany & Eastern Europe is carbon compensated (2013: 42.5%).

■

■ 82% of our carbon emissions

derives from mobility. 18% from our (office) locations.

Strategic targets 2014-2015

■

■ 5% reduction of the CO

2 footprint per

FTE compared to 2013.

Activities that support our targets

■

■ Sharing best-practices in our divisions. ■

■ Gain insight into divisional CO

2

footprints and formulate divisional CO₂ reduction targets for 2015.

■

■ Continuing focus on CO

2 reduction

activities.

Carbon footprint (CO

₂

)

Total carbon footprint in absolute kton (2013: 85,5 kton)

78.7

*

ton per FTE (2013: 3.59 ton per FTE)

3.54

*

‘At Imtech we aim to

continue to reduce our

carbon footprint and

strengthen our

competitiveness.’

Employees

Management

statement

‘ At Imtech we recognise that people are our most important asset.

We aim to create an environment in which they are fully engaged

with the business and feel passionate about taking ownership

and delivering results. This means ensuring that people have

ample opportunities to develop the mind-set, skills and

competencies they require for personal and professional growth.

We are building an open culture that allows our employees to

effectively deal with ethical issues and dilemmas that might arise

in the business and we continue to focus on a proactive safety

culture by developing a healthy attitude at work, acting

responsibly and holding each other accountable for what we say

and do.’

Sustainability topics and their financial impact

Sustainability

Topic Impact on business Sustainability Topic Impact on business

Impact on business value drivers Impact on business value drivers Business

Ethics Health &Safety

Positive reputation Increased employee safety and satisfaction Reduced litigation risk and costs Increased capacity to be a reliable business partner Increased shareholder satisfaction Increased market value Reduced litigation risk and costs Increased customer satisfaction Lower accident and absenteeism Increased

Employees

Our employees continued to face challenging conditions in 2014. The adjustments of our businesses to economic circumstances have led to job losses, and the

irregularities from previous years have impacted our value proposition as an employer. Against this backdrop, we have worked hard to deliver a new framework that enables us to have the best possible environment for our people to deliver operational excellence in the years ahead.

In 2014 we launched the Imtech Human Resources Roadmap for the period 2014 – 2017 which empowers us to deliver on our objectives and rebuild trust among our stakeholders. It is a customer-focused approach that prepares us to better serve our clients with

multidisciplinary and integrated solutions. The Roadmap is anchored in Imtech’s new corporate values, which were also re-defined at the end of 2014 and will be rolled out in early 2015. These are the basis for creating a safe and integer organisation. They define who we are and describe our commitment to our customers and to each other (for more information, please refer to our Annual Report, HR chapter, www.imtech.com).

HR key figures

2014

2013

Number of FTEs as at 31 December 22,193 23,788

Number of employees aged 30-44 (%) 37.3% 38.9%

Average age of employees (in years) 41.3 40.9

Retention rate 90% 92%

Average length of service per employee (in years) 8.5 8.7

Percentage of female employees 10.3% 11.1%

Average sick leave per employee 3.5% 3.4%

Imtech Marine

Project: Imtech Marine USA renews VSAT

connectivity contract with Algoma Central Corporation for a third time

Peter Winkley, Algoma Central Corporation Vice President, Finance and CFO: “Algoma Central Corporation is pleased to partner with Imtech Marine to provide VSAT services to our Canadian fleet of vessels. The contract renewal created a private network with increased bandwidth for the Algoma fleet, allowing Algoma to deploy wireless Internet connectivity to our crew members on board all vessels.”

Adding value to our customers

Imtech UK & Ireland

Project: Imtech Inviron secures major south west contract with Alder King

Adam Davies, Associate and Head of FM at Alder King: “We operate a rigorous tender process and Imtech Inviron performed exceptionally well from both a technical and financial perspective during this process. On this basis we were very happy to renew and expand our contract with the team. We are confident that they will continue to provide an excellent service to us, backed up by a big brand with extensive experience, training and resources.” Adding value to our customers

Business Ethics

In 2014, we have further developed the awareness of the importance of business ethics. One of the ways we have done this, was by the development of training materials and the introduction of e-learning modules on our Code of Conduct. The feedback that we receive is positive as our employees appreciate the opportunity to refresh their knowledge. In 2015, we will continue to provide our divisions with e-learning modules.

The GRC programme that we designed in 2013, was rolled-out in our divisions in 2014 and the various actions were fully completed in 2 divisions. The other 5 divisions are continuing to implement the outstanding actions mainly relating to training and awareness on

anti-bribery and corruption, competition compliance and export controls as well as the effectiveness of the third party screening process.

In 2014 the number of reports relating to (alleged) violations of the code of conduct increased and amounts to 91 (29 in 2013). This important increase indicates that we are heading towards a culture in which people speak-up and adopt ‘critical thinking’ as one of the basic principles in business ethics.

In 2015 we will continue to measure our performance on the existing KPIs on ethical behaviour and compliance as to be able to report the same indicators over a longer period of time and identify trends. In addition, we will further develop and specify our KPIs as to be able to better manage our progress.

Highlights in 2014

■

■ Integrity training was rolled out

and followed by 75% of the Imtech’s employees worldwide.

■

■ All employees were involved in

the GRC programme by the introduction of the revised Code of Conduct. The code has been addressed in several meetings as to explain the content.

■

■ Quarterly analysis of reported

suspected misconducts was done to determine focus areas on further improvement.

■

■ Quarterly analysis of reported

gifts & entertainment was done to determine focus areas for awareness.

Strategic targets 2014 – 2015

■

■ 100% participation of employees in

Imtech divisions in an integrity training programme.

■

■ 100% roll out of the GRC programme

in Imtech divisions.

Activities that support our targets

■

■ We will continue to develop the

e-learning modules on ethics and integrity.

■

■ The GRC department will be

restructured and further strengthened to address current as well as legacy issues.

■

■ Change of culture based on core values

with ‘integrity’, ‘loyalty’ and ‘critical thinking’ as integral elements.

Business Ethics

75%

*

Number of reports relating to (alleged) violations of the code of conduct. (2013: 29)

Percentage of employees that participated in an integrity training programme.

91

*

Number of reports that lead to dismissal(s). (2013: 7)

11

*

* _{Part of KPMG assurance.}

Health & Safety

Safety is a top priority at Imtech. Our technical operations in the fields of energy, industry, infrastructure and buildings are subject to a variety of safety risks. We want to ensure that all our employees and any involved third parties are properly protected so that the risks of job-related accidents are limited, which is why we keep emphasising the importance of a proactive safety culture. Early in the year, we were shocked by a fatal accident involving a colleague at Imtech VS Teknik in Sweden. This has reminded us of the utmost importance of health & safety in our organisation. Worldwide we held a ‘Safety Stop’ at all project sites to reflect on this tragic accident and we have implemented further measures to strengthen our practices. Safety is a deeply held value at Imtech and is integral to the way we work. We are determined to improve our performance in the period ahead.

During the year, our Health & Safety organisation has been reviewed, which gave us more insight in our approach. We upgraded our reporting system that provides us with quarterly insight in our main

performance indicators. The Supervisor Board monitors H&S performance closely and on an on-going basis as a standard topic in its meetings, and the same is done in Board of Management and Executive Council meetings. There is still room for improvement of our H&S data quality management at all divisions. In 2015 especially our divisions Germany & Eastern Europe, Nordic and Traffic & Infra need to step up and improve their H&S reporting across all of their business units. While we are making progress, we are determined to accelerate the improvement of our performance in 2015. One way to raise our standard is by introducing our own Imtech Safety Rules. In order to create a safer

environment we have started this process with Imtech’s Top-80 and in 2015, we will launch our own safety standard, enhancing clarity on the expected behaviour. In addition, we will assess the possibility of including Health & Safety key performance indicators in the remuneration system of the Board of Management and Executive Council of Imtech.

Working method

The Board of Management is responsible for Health & Safety at Imtech. To strengthen our performance and develop a proactive safety culture we implemented the following working method:

■

■ Responsible for corporate H&S

performance

■

■ Defines corporate goals and actions in

the divisions

■

■ Monitors progress and discusses

performance with divisions

■

■ Responsible for corporate H&S

performance

■

■ Defines corporate goals and actions in

the divisions

■

■ Monitors progress and discusses

performance with divisions

■

■ Responsible for corporate H&S

performance

■

■ Defines corporate goals and actions in

the divisions

■

■ Monitors progress and discusses

performance with divisions

BoM

EC

H&S Team

‘ One way to raise our

safety standard is by

introducing Imtech

Safety Rules in 2015.’

Corporate H&S Goals 2014

In 2014 we worked on six corporate goals:

Corporate Goals Result(s) and highlights 2014

1. Specify key targets per division (IF, SR, etc.) All divisions have set a target on their IF and SR performance in their 2014 action plan. Only four divisions have reached their target on IF and half of the divisions reached their SR target. Targets have only partly been met and next year we will sharpen the objectives as to accelerate our progress.

2. Insight in divisional actions and management systems As a result of an interim-review in the beginning of 2014, we have a clear overview of the maturity of the H&S organisation and systems at divisional level. We collected the top-3 priorities on health & safety per division and we draw up an inventory of the H&S systems. We gained more insight into divisional performance by the quarterly reporting process that has been upgraded. We also discussed divisional actions and management systems in the global Health & Safety Team meetings.

3. Structure the H&S reporting process We have upgraded our reporting organisation, further aligning definitions and strengthening verification processes. In 2014 a quarterly reporting scheme in IRIS has been set-up and definitions were reviewed and renewed. In 2015 an additional indicator will be added: the number of near-misses.

4. Implement safety principles in GRC program The 8 H&S principles are embedded in the GRC programme. This is done through sharing dilemma’s on Health & Safety issues in a test in an internal magazine that has been translated in five languages and distributed among all employees of Imtech worldwide.

5. Assess each division (self assessment tool) All divisions are using the Imtech H&S self-assessment tool. The goal is to get insight in the safety culture. It is important that divisions continue to use this tool in 2015 and expand their target group. The results will be shared in the global H&S Team.

6. Share best-practises in cross-divisional meetings During the 3 Global H&S Team meeting and the Global CSR Team meetings in 2014, best-practises were shared. Especially Imtech UK & Ireland is a best-practise for all divisions. We also shared results and best-practices on health & safety in seven divisional management team meetings, in the Executive Council, Works Council and European Works Council, and we have held a Health & Safety stop in all divisions following the fatal accident in Sweden to share the lessons learned.