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AnnuAl RepoRt

2011

Integrated financial and sustainability report

Van Gansewinkel Groep At a glance People Number of employees Fatal accidents 6,435 0 *

Van Gansewinkel Groep

At a glance

People Number of employees Fatal accidents 6,435 0 * 617 0 Injury frequency Absence rate
People
Number of employees
Fatal accidents
6,435
0
*
617
0
Injury frequency
Absence rate
8
5.1%
3
0.3%
Sta turnover
Training e orts
10.9%
1.5 %
3.1%
0.1%

* With exception to the number of employees, the key figures relating to People do not include the performances of the acquired Veolia Belgium in 2011.

Planet 2 nd life as raw materials CO 2 emission prevented in the total chain
Planet
2 nd life as raw materials
CO 2 emission prevented
in the total chain
58.1
%
1.22mtons
1.4%
0.05 mtons
Energy e ciency
Electricity supplied to
the grid
22.4
694GWh
%
0.7%
6%
Heat produced
New C2C projects
implemented
1,296TJ
3
191 TJ
1
Income model: two directions, two customers Van Gansewinkel Groep serves from two directions two customers.
Income model: two directions, two customers
Van Gansewinkel Groep serves from two
directions two customers. At the front-end,
we collect waste and process it to create
secondary raw materials. At the back-end, we
deliver those materials to specification to
customers for manufacturing new products.
See page 22.
Scarcity of raw materials as a business case The worldwide population growth and increa- sing
Scarcity of raw materials as a business case
The worldwide population growth and increa-
sing prosperity are forcing the demand for raw
materials up, while at the same time supplies
are diminishing. Van Gansewinkel Groep gives
waste a second life in the form of raw materi-
als and energy, and by doing so reduces the
need for natural materials. See page 87.
so reduces the need for natural materials. See page 87. Profit Revenue 1,186 million 71 million
so reduces the need for natural materials. See page 87. Profit Revenue 1,186 million 71 million

Profit

Revenue

1,186million

Profit Revenue 1,186 million 71 million EBITDAE 254 million 5 million Equity 162 million 8 million

71 million

EBITDAE

254 million

5 millionEBITDAE 254 million

Equity

162 million

8 millionEBITDAE 254 million 5 million Equity 162 million 9 million 3 million 3 million Operating result

9 million

3 million

3 million

162 million 8 million 9 million 3 million 3 million Operating result (EBIT) 59 million Net

Operating result (EBIT)

59million

Net result

-25 million

Operational cash flow

233 million

Van Gansewinkel Shop Van Gansewinkel Groep o ers a range of sustainable products and services.
Van Gansewinkel Shop
Van Gansewinkel Groep o ers a
range of sustainable products and
services. Have a look in our shop and
see a selection of what we have to
o er. See page 98.
Van Gansewinkel Inside The worldwide population growth and increasing pros- perity are forcing the demand

Van Gansewinkel Inside

The worldwide population growth and increasing pros- perity are forcing the demand for raw materials up, while at the same time supplies are diminishing. In the longer term, we should expect physical shortages of materials worldwide.

The scarcity of raw materials forms the basis for our strategy. Van Gansewinkel Groep’s services and renewa- bles (secondary raw materials and fuels) are ‘inside’ the processes and products of more and more customers.

We study our customers’ operating processes and use our expertise and experience to minimise the waste

generated. Wherever streams of waste are nevertheless produced, we develop optimum logistics systems and sustainable and valuable processing methods. As many valuable materials as possible are saved in this way.

More and more products are made from our recycled raw materials. For example, we supply metals, plastics, cullet, wood, paper and more. And we do more. We work together with partners to develop take back systems and to close cycles, returning raw materials directly to those same partners. More and more products can bear the label ‘Van Gansewinkel Inside’. This gives concrete shape to our credo of Waste No More.

This gives concrete shape to our credo of Waste No More. PROFIle Van Gansewinkel Groep is
PROFIle Van Gansewinkel Groep is a waste service provider as well as a raw materials
PROFIle
Van Gansewinkel Groep is a waste service provider as
well as a raw materials and energy supplier. The com-
pany collects waste and processes waste into raw mate-
rials and energy. Our home market is Benelux, but Van
Gansewinkel Groep is also active in Germany, France,
Portugal, the Czech Republic, Poland and Hungary. Ap-
proximately 7,500 people realise annual revenues of
around €1.2 billion.
Together, the private equity firms CVC Capital Partners
and Kohlberg Kravis & Roberts Co. have a major inter-
est (respectively 38.2% and 32.5%) in Van Gansewinkel
Groep bv. The remaining shares are owned by Oranje-
Nassau Groep (6.9%), Intermediate Capital Group (6.4%)
and company management (16%).
Van Gansewinkel Groep Revenue €1.2 billion* ** 6.198 fte Collection & Services Recycling Energy from
Van Gansewinkel Groep
Revenue €1.2 billion*
** 6.198 fte
Collection & Services
Recycling
Energy from Waste
Revenue €883 million
4,956 fte
Revenue €142 million
465 fte
Revenue €242 million
414 fte
Van Gansewinkel
Coolrec
Maltha
Van Gansewinkel
AVR
Minerals
Collection and
processing of waste.
Supplier of material
streams, such as
paper, construction
and demolition
waste, metals,
aluminium, copper,
wood and plastics.
Recycling
of electrical
and electronic
equipment. Supplier
of recycled steel,
copper, plastics
and aluminium,
amongst other
things.
Recycling
of glass products.
Supplier
of recycled glass.
Soil sanitation and
decontamination.
Supplier of
sustainable
construction
materials.
Processing of
residual waste.
Supplier of energy.

* Revenue to the sum of €81 million has been eliminated from the total revenue, in connection with intercompany transactions between the separate divisions. ** The total number of fte of Van Gansewinkel Groep (excluding temporary staff) includes 363 fte working for the Group.

2 ANNuAl RePORT 2011

Key figures 2011 2010 2009 People* Number of employees (not including temporary workers) 6,435 5,818
Key figures
2011
2010
2009
People*
Number of employees (not including temporary workers)
6,435
5,818
5,780
Average number of temporary workers (FTE)
1,061
1,175
1,107
Staff turnover (%)
10.9
14
12
Employee motivation (mark out of 10)
-
7.4
-
Training efforts (%)
1.5
1.4
-
Injury frequency
8
11
14
Severity rate
0.19
0.24
0.28
Absence rate (%)
5.1
5.4
5.1
Planet
2 nd life as raw materials (%)
58.1
56.7
56.5
CO 2 emission prevented in the total chain (mtons)
1.22
1.17
1.20
Energy efficiency (%)
22.4
23.1
26.1
New C2C projects implemented
3
4
4
Production of green energy (%)
19.4
20.6
20.4
Production of grey energy (%)
14.6
13.5
13.7
Other uses (%)
7.9
9.2
9.4
Electricity production (GWh)
879.5
875
1,030
Heat production (TJ)
1,296
1,487
2,470
Profit (in € million)
Revenue
1,186
1,115
1,137
EBITDAE**
254
249
259
EBITDAE margin
21%
22%
23%
Operating result (EBIT)
59
50
-73
Net result
-25
-22
-188
Equity
162
154
179
Operational cash flow
233
230
245
Return on capital employed (ROCE)
4%
3%
-7%
Customer satisfaction (mark out of 10)
8.2
8.2
8.1

** With exception to the number of employees, the key figures relating to People do not include the performances of the acquired Veolia Belgium in 2011. ** EBITDAE represents the earnings before interest, taxes, depreciation, amortisation and exceptional items. Exceptional items are normalised to allow a similar comparison between the results without the impact of non-recurring/exceptional income and expense. Exceptional items are not included in the results in the company’s management reports. For a reconciliation between the EBITDAE used for management purposes and the EBITDA presented in the financial report, please refer to page 123 of the financial report. The EBITDA presented in the financial report comprises the earnings before interest, taxes, depreciation and amortisation.

EBITDA presented in the financial report comprises the earnings before interest, taxes, depreciation and amortisation. 3

3

Contents From the CEO 6 Risk management 76 . . . . . . .
Contents
From the
CEO
6
Risk management
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Report of
the Supervisory Board
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Sustainable supply chain management
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Interview . with. the .supervisory .
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Corporate Governance
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90
95
Report of the Board of Directors
Mission, . vision, .core . values
Market . position, . market . trends. 2011
s Wot. analysis
strategy . for . 2011-. 2014
Key . objectives
Income . model
14
Van Gansewinkel Inside
o ur . vision: . Waste .no .
t he . Renewables . Company
Van . Gansewinkel .s hop
t his . is . how . we . close . the . cycle
Developments . in . politics . and . regulations
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Financial summary
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About this report
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4 annual report 2011

Collection . &.s ervices: . Van . Gansewinkel .Recycling: . Coolrec, . Maltha

 

24

GRI

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&

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27

   

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GRI

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133

e nergy . from. Waste: . AVR International

o rganisation . and . formalisation

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34

Assurance report

 

140

   

36

of . sustainable . development People

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39

46

Biographies Board of Directors

 

142

Planet Profit

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53

63

Biographies

 

Supervisory Board

 

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– . Financial . developments

 

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Glossary of terms

 

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– . Forecasts . for . 2012

66

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Colophon

 

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. From . the . CF stakeholder . dialogue

 

70

 
. . . . . . . . . . . . From . the .

5

F RoM.t H e vided.capital.to.enable.the.transaction . we.did.not.require.any.borrowed.capital.for.the.acquisi - tion,
F
RoM.t H e
vided.capital.to.enable.the.transaction
.
we.did.not.require.any.borrowed.capital.for.the.acquisi -
tion, . it . helped . to . improve . our . balance . sheet . position.
Moreover,.since
and . with .stoompijp . bv . to . supply . steam . to . nearby . busi -
nesses . will . cause . our . energy . yields . to . roughly . double .
within . three. years’ .
Ceo
As . a . tactical . move, . we . adjusted . our . financial .
In . April . 2011 . we . negotiated . new . conditions . with . our .
banking . syndicate, . giving . us . greater . scope . and . flex-
Continued. focus . on . efficiency
ibility.to.determine.our.company’s.next.move.ourselves.
.
However,.we.will.need.to.change.our.debt/equity.ratios .
It
. is . difficult . to . predict . future . macroeconomic . circum -
in.the.short.term.to.allow.us.to.roll.out.our.strategy.un -
and . made . significant . progress . towards . increasing . the .
future . energy . yield . from . our . incineration . activities.
step.by.step,.we.are.working.with.more.than.7,000.col -
leagues.to.improve.the.quality.of.our.versatile.company.
der.our.own.steam
Like.our.services.and.products,.our
.
stances, . and . the . market . in . which . Van . Gansewinkel .
Groep.operates.is.an.uncertain.one.in.terms.of.volumes.
.
capital . structure . must . also . become .
and .
As . such, . we . will . continue . to . focus . on . im -
proving . efficiency . and . quality, . seeking . motivation . in .
.
our . previous . achievements . in . this .
In . 2012, . we .
will . make . our . logistics . even . more . modern, . even . more .
Pressure . on . prices . at
Collection .netherlands
efficient, . even . faster . and . even . less . prone . to . error . than.
they . already .
By . standardising . and . professionalis -
strong . position
o ur. market. position . is . also . cause . for. gratification he .
t
Regrettably,.we.were.unable.to.sufficiently.compensate
the . erosion . of . rates . at . the . Dutch . collection . activities.
.
ing . more . processes, . we . can . devote . even . more . of . our .
attention . to . our . customers . and . employees
.
crisis . and . its . impact . have . given . greater . importance . to
.
t he . prices . are . under . pressure . as . a . result . of . the . over -
o
ur.company.has.built.up.a.track.record.of.continually.
the . concept . of .
People. need . stability . and
.
capacity . in . the . incineration .
Van . Gansewinkel .
improving
In.recent.years,.our.cost.structure.has.been
.
a . vision . for. the . long . term ur. proposition . of. Waste .no .
o
expects . this . market . to . regain . more . balance . in . the . fu -
reduced.by.€100.million
And.that.is.not.all In.all.these
.
C
eo. Ruud .s ondag
More . can . only . create . more .
We . are . leaders,
.
ture, . as . a . result . of . the . considerable . volumes . of . waste .
changes, . we . always . bear . our . five . core . values . in . mind, .
we . have . a . reputation . for . being . an . opinion . leader . and .
imported . from .
abroad.
.t his . is . good . and . a. cause . for . op -
to.safeguard.our.organisation’s.DnA
If.you.continually
.

Despite the weak economy and the pressure on prices that all divisions are experiencing, we suc- ceeded in giving concrete shape to our strategy for growth and further improved our company’s efficiency. We also made further progress in our transition to becoming a leading supplier of raw materials and energy. It is therefore that I can look back on our performance in 2011 with pride and satisfaction.

We . started . the . year . seeing . our . margins . cut . by . more .

than . €30 . million, . as . a . result . of . the . erosion . of . rates . at . energy.from.Waste.caused.by.the.tenders.for.household .

waste .in.2009.

.

the . entire . Group, . which . served. to. limit . the . drop. in . our .

We . succeeded . in . realising . the . savings.

targeted . with . that . programme: . truly . an . outstanding . achievement

profit .

.In .response, .we .implemented.the.vigor -

ous.efficiency.programme.Fit.for.the.Future.throughout

o ur . operations . improved . in . multiple . ways . last . year

We.implemented.onboard.computers.and.computerised . planning.systems,.centralised.our.financial.accounting.

We . also . im -

system . and . optimised . our . recycling .

proved . the . efficiency . of . our . energy-from-waste . plants .

6 annual report 2011

we . set . ourselves . apart . in . the . areas . of . sustainability and .

.

More . and . more . customers. are. asking . us . proactively . to . take . a . look . at . how . they . manage . their . waste . and . how .

they . use . raw . materials.

that . the . raw . materials . that . they . are . using . are . becom -

ing .

systems . and . preparing . materials . for .

are.visibly.choosing.us.for.our.sustainable.approach,.ex-

pertise . and . vision his. is . apparent. from . our . customer .

satisfaction . ratings, . which . are . as. good . as. ever . and . are . in . fact . improving. all . the . time.

Customers .

.t here . is . a . growing . awareness

.

We . offer . solutions . by . organising . take . back .

t

strategic . move . in . Belgium

. Veolia . in . Belgium: . a . healthy . collection . and . recycling . business . with . an . annual . turnover . of . around . €100 . mil

We . took . a . strategically . important . step . by . acquiring

- lion Despite . the . difficult . market . and . our. capital . struc -

ture, . we . managed . to . further . reinforce . our . position . in .

.

Belgium.

road . to . growth . for . us . and . our . shareholders, . who . pro -

.t his . takeover . represents . another . step . on . the

timism . in . the . short .

. scarcity . of . raw . materials . will . cause . the . importance . of . waste.incineration.to.diminish.and.that.of.high-quality. reuse. of . materials . to . increase.

However, . in . the . long . term . it .

does . not . offer . a . proper . structural .

.t he . global

solution.

In . our . view, . the. latter . argument . is . the . main . reason . for structurally . phasing . out . capacity . in . the .netherlands. Waste . incineration . will . become . less . important . in . our.

. that.lack.the.necessary.scale.and.have.limited.possibili - ties.to .access .grids .for .heating.(households) .and .steam . (businesses), . will . be . particularly . concerned . about . the. future.

industry

As.a.consequence,.plants.not.located.centrally,

.

.

In.2010,.as.the.first.operator.in.the.market.to.make.this .

move, . we . closed . one . of . our . three . incineration . plants.

and.reduced.our.own.capacity.by.15% he.focus.for.the.

. yields he.pork.cycle, .as.it.is.commonly.known,.in.the .

waste . incineration . has . forced . us . to .

the . structurally . lower . gate . rates . at . the . front . end, . our .

e BI t DA e. margins . are . returning . to . previous . levels, . thanks.to.higher.energy.yields Contracts.with.the.Heat. Distribution.Company.of.Rotterdam.for.district.heating .

Despite.

remaining.capacity .is .now .on .achieving .higher .energy

t

t

restructure .in .order .to .improve, .it .is.important .to.keep.

a . close . watch . on . the . blood . type . of . the . people . doing .

the .restructuring.

years, . and . that . is . what . we . will . continue . to . do.

.t hat .is .what .we .have .been.doing .for.

In . 2011, . we . contracted . strategic . consultancy . firm . Ro - land.Berger.to.conduct.a.survey.of.the.recycling.market .

During . the . coming.

year.we .will .follow .up .on .their .findings

. our.expertise.and.to.realise.the.highest.possible.quality . in. our . raw .

and . our . activities . in . that .

.inten -

tion . to . make . the . best . possible . use . of . our . network . and

It.is.our

Van . Gansewinkel . Groep . will . continue . to . invest . in . knowledge . and . quality . and . in . expanding . its . position

.

as . a. supplier . of . raw .

activities, . our . vision . and . our . strategy . put . us . in . an . ex- cellent . position . for . further . growth

I . am . convinced . that . our .

. for . further . growth I . am . convinced . that . our .

Ruud Sondag

Chairman . of . the . Board . of . Directors rvb@vangansewinkel.com

growth I . am . convinced . that . our . Ruud Sondag Chairman . of

7

ReP oRt . oF.tH e

su PeRVIsoRy . BoARD

ReP oRt . oF.tH e su PeRVIsoRy . BoARD From .left .to .right: .Carel .van .den

From .left .to .right: .Carel .van .den .Driest, .Reinhard. Gorenflos, .Hugo.van .Berckel .and.Peter . Berdowski.

The Supervisory Board monitors the strategic and financial policies of Van Gansewinkel Groep. In 2011, the Board was made up of Chairman Reinhard Gorenflos (Partner KKR), Hugo van Berckel (Partner CVC), Peter Berdowski (CEO of Koninklijke Boskalis Westminster nv) and Carel van den Driest (former CEO of Koninklijke Vopak nv). Hugo van Berckel was appointed Chairman of the Supervisory Board on 1 January 2012.

8 annual report 2011

t

he .supervisory . Board . meets . with . the . Board. of . Direc -

employee . participation .

He . met . with . the . Central

tors . to . discuss . current .

projects.

.o ther . topics . that . are

Works . Council . on . one .

occasion.

.t he . following . issues

. include . market . developments . and . developments . in . terms . of . safety, . customer . satisfaction . and . employee. satisfaction.

highlighted . besides . the . company’s . financial . position

t he .s upervisory . Board . met . six . times . during .

Members . of . the .supervisory . Board . who . cannot . physi -

cally . attend . a . meeting . participate . by . video . conference .

or . telephone . conference .

this . option . on . two . occasions . in .

.o ne . member . made . use . of.

.t he . following . is -

sues . were . addressed . during . the . meetings:

call.

2011.

were . addressed . during . that . meeting:

• . Cost-cutting . and . efficiency. programmes .

• . Debt . position . and . refinancing

• . Market . developments .

• .s hareholder . involvement .

.s afety . developments .

Committees

. Market . developments .

t

he .financial .audit .committee .is .made .up .of .Mr .Goren-

. Developments . in . financial . and . operational . results .

flos . and . Mr . Van . Berckel, . as . are . the . selection . and . re -

muneration .

committees.

.t he . remuneration . committee

.s afety .

t

he . 2010 . annual . results, . the . 2010 . sustainability .

has.defined.the.following.criteria.for.the.bonus.system:

report . and . the . accompanying . management . letter .

.e BI t DA e

 

from . the . auditor .

.o perational . performance

.strategy . and . the . Mid-term. Plan

. Free. cash. flows . before . finance . costs

. Risk . management

.e

mployee . satisfaction

.t he . financial . position

.s

afety . (IF)

. Refinancing . in . 2011

 

.o wnership . structure

t

he . shareholders . define . the . remuneration . policy, . and

.s election . of. a . new . auditor .

the . independent . members . of . the .s upervisory . Board

. Acquisitions . and . proposed . investments

determine . whether . the . remuneration . constitutes . an.

. Cost-cutting . and . improvement . programmes .

acceptable . reflection . of . the . relationships . within . the.

.e

nergy . efficiency . at . AVR . Rozenburg .

company . (see . the . information . about . the . remuneration .

.t

he . 2012 . budget

of. the . Board . of . Directors . in. 2011 . on . page . 129).

t

he .s upervisory . Board . discussed . the . 2010 . financial.

and.sustainability.report.when.it.met.in.April.2011 he . external . auditor . was . present . at . that .

t

Meetings.with.the.Board.of.Directors

e very . month, . the . Board . of . Directors . as . a . team . meet with . the . shareholders . (KKR, . CVC . Capital . Partners) . to discuss.the.developments.in.results,.the.operational.de - velopments . and . staff-. and . strategy-related .

.

.

Consultation . with . the. Central . Works . Council .

o ne . of . Mr . Van . den . Driest’s . duties . on . the .supervisory

.

Board.is.to.deal.with.staff-related.issues.on.behalf.of.the .

Agenda . for . 2012

t he .s upervisory . Board . will . closely . monitor . the . com -

pany’s.financial.and.operational.results.in.2012,.as.well.

as . the . performances . in . the . area . of . safety . and . the . roll-

.t he . members . of . the .

Board.also.wish.to.sketch.the.outline.of.the.next.step.in.

the.company’s .existence .in.2012

-

out . of . the . mid-term . growth .

plan.

In.2012,.the.supervi

sory.Board.will.have.served.in.the.same.composition.for .

no.grounds.emerged.in.2011.for.the.Board

However, . this . matter .

.

to . evaluate . its . own .

will . be. discussed . in . 2012.

three.years

.

Hugo van Berckel

Chairman . of . the .s upervisory . Board

s ee . the . interview . with. the .s upervisory . Board . on . page . 10.

Chairman . of . the .s upervisory . Board s ee . the . interview .

9

Inte RVI e W.WI t H.t H e . su PeRVI soRy . BoARD ‘Considerable
Inte RVI e W.WI t H.t H e .
su PeRVI soRy . BoARD
‘Considerable progress, despite
unfavourable circumstances’
t he . right . balance

Given the difficult market conditions, the Supervi- sory Board is pleased with the performances that Van Gansewinkel Groep recorded in 2011. ‘Despite the unfavourable circumstances, the company made considerable progress in many respects,’ the members of the Board state unanimously.

Peter . Berdowski . feels . that . the . balance . between . the . ef - forts . to . retain . margins . through . efficiency . measures . on . the . one . hand . and . innovations . and . growth . through.

‘ t he . company . has .

acquisitions . on . the . other . is .

er . businesses . in . the . sector,’. Berdowski .

sustainable. and . transparent

Another . important . item . that . the .s upervisory . Board .

t

he .supervisory . Board . attaches . a . great . deal . of . impor -

discussed . at . length . was . the . revision . of . the . financing

tance.to.sustainable.and.transparent.operations Goren-

‘ t he . new . financial . position . offers . more

flos .explains, .‘Van .Gansewinkel .Groep’s .performances.

breathing . space . for . the . company’s . development,’ . says

in . this . respect . are .

excellent.

.t he . company’s . strategy, .

Van . den .

.t his . was . an . excel -

lent . achievement, . particularly . in . terms . of . speed . and .

timing he.shareholders’.understanding.of.the.market . was . put . to . optimum. use.’

that . extra . space . was . much .

‘ t he .s upervisory . Board . believes . that .

needed.

t

Right . priorities

t he.supervisory.Board.makes.sure.that.the.right.priori -

ties.are.targeted

If.the.relationship .

is.a.healthy.one,.management.operates.the.throttle.and .

the.supervisory.Board.controls.the.brakes hat.is.how .

it . is . at . Van . Gansewinkel . Groep,’ . Berdowski .

‘We.say:.think.about.tomorrow,.but.also.seize.whatever opportunities.present.themselves.today.and.make.sure .

.t he . financial . re -

sources . and . the . amount . of . attention . that . management can . give . are. limited, . after . all.’

that . you . excel . in . your . core .

.

.

.

‘We.compare.management’s.plans.for

growth.with.the.strategic.framework

t

activities.

t he .supervisory .Board.also.expects.market.conditions .

business . case . and . working . methods . prove . that . econ -

. fully.endorse.the.company’s.decision.to.sign.the.Global . Compact, . an . initiative . of . the .u nited .n ations . to . boost . corporate . social . responsibility.’

omy . and . ecology . definitely . go .

We . also

.

‘We . invest . not . only . in . the . financial . perfor -

.

performances.

sustainability . and . improved . processes . are . extensions. of. each . other,’ . Gorenflos .

mances . of . businesses, . but . also . in . their . sustainability

Van.Gansewinkel.Groep.is.part.of.KKR’s.Green.Portfolio

.t he . essence . of . this . programme . is . that .

In.terms.of.transparency,.Van.Berckel.believes.that.Van .

Gansewinkel . Groep . has . built . up . a . good . track . record

‘ t he.GRI.A+.status.represents.the.level.of.transparency .

.t he . rec -

ognition . for . that . status . that . we . receive . from . various. stakeholders . is . valuable.’

that . we . feel . is . appropriate . for . the .

company.

t he . next . step

 

become . stronger . despite . the . crisis: . by . adopting . smart-

 

to . remain . difficult . during . the . coming .

‘ t he . sen -

t he.overcapacity.in.the.Dutch.waste.incineration.mar -

sible. thing . to . do . in . that . case . is . to . operate . with . caution

t

.

 

er . methods . and . introducing . innovative . products . such.

In . 2012 . the . company . will . seek . to . improve . its . results.

ket . caused . substantial . price . erosion . at .e nergy . from .

ket . in .

Van . Gansewinkel . Groep . has . managed . to.

as . our . own . cradle-to-cradle . office . paper, . but . also . by

 

and . continue . to . sort . matters . out . internally,’ . says . Van .

‘ t hose . improvements . will . have . to . come . from .

Waste,.which.visibly.carried.over.to.the.collection.mar -

acquiring . Veolia . in . strategy . perfectly.’

Belgium.

.t hat . acquisition . fits . our

‘Van . Gansewinkel . Groep . is . doing . this . better

than.anybody.else he.company.will.continue.to.imple -

the.further.integration.of.Veolia.in.Belgium,.further.ef - ficiency . and . quality . improvements . and . the . company’s .

retain . its . volumes . and . to . offset . much . of . the . decline . in .

 

ment.efficiency.and.quality.improvements For.example,.

in.2012.management.will.examine.which.of.the.organi

strong . position, . which . can . only . generate . more . busi -

prices.by.implementing.efficiency.improvements.across .

t he . acquisition, . for . which . the . shareholders . contrib -

 

-

ness,’.says.Gorenflos ‘Van.Gansewinkel.Groep.will.also.

the.whole.group,’.explains.Hugo.van.Berckel,.Chairman.

uted . capital, . received . the . full . support . of . the .s upervi -

sation’s . processes . can . be . standardised . and . computer -

continue . its . preparations . for . an. exit.’

of. the .supervisory . Board

sory .

‘ t he . parties’ . activities . complement . each

 

ised.

.t hat . is . evolution, . not .

revolution.

.such . initiatives

other, . and . the . companies . are . also . complementary . in

reflect . the . ongoing . focus . on . improvement . and . mean

t

of . Directors . in . 2012 . to . sketch . the . outline . of . the . next .

he .s upervisory . Board . hopes . to . work . with . the . Board .

t he . realisation . of . the . objectives . of . the . efficiency . pro -

geographic .

terms.

.t he . combination . offers . significant

that.Van.Gansewinkel.Groep.continues.to.take.the.lead

grammes . defined . by . the . company . despite . the . difficult.

potential . for . synergy,’ . says . Hugo . van .

‘ t he .

in . the. sector.’

step.in.the.company’s.existence,.with.a.different.share -

market.deserves.a.big.compliment,’ .says.Carel.van.den .

acquisition . has . further . reinforced . Van . Gansewinkel’s

 

holding .

‘We . have . unanimously . expressed . a .

‘ t his . is . illustrated . nicely . by . the . energy-from-

leading . position . in . the . Benelux.’

 

safety.is.one.theme.that.is.on.the.agenda.every.time.the

willingness.to.define.a.vision.on.that.development.dur -

waste . plant . in . Rozenburg: . after . a . reorganisation . and .

 

supervisory . Board.

‘ t he . figures . show . a . positive .

ing . the . course . of . the . year,’ . says . Gorenflos, . adding . that.

with . its . focus . on . energy . yields . it . is . positioned . favour -

t he . members . of . the .s upervisory . Board . feel . that . the

trend, . but . in . terms . of . safety . there . is . always . room . for .

the . timing . of . the . next . step . will . depend . on . the . devel -

ably.for .future

.growth.

.Management.has.made .full.use .

company’s . commercial . proposition . has . also . improved .

improvement. and. you. must. never. be. satisfied,’. Van. den .

opments . on . the . financial . markets . and . the . company’s.

of.the.potential.for.improvement.at.e nergy.from.Waste,.

its . market .

‘ t he . message . of . Waste .no . More . is.

Driest .

‘ s evere . accidents . are . by . definition .

and.has.made.important.strategic.steps:.Van.Gansewin -

as . solid . as . a .

Van . Gansewinkel . Groep . is . reaping .

important.items.on.the.agenda

What.caused.them?.What

kel . Groep . will . supply . energy . to . more . and . more . homes .

the.benefits.now,.and.will.continue.to.do.so.in.the.years.

lessons. can. we. draw. from. them?.t hose. are. things. that .

Partly.for.that.reason,.the.company.decided.to.engage.a .

and . businesses.’

to.come he.company.clearly.sets.itself.apart.from.oth -

t

we,.as.the.company’s.supervisory.body,.want.to.know.’

new .auditor.in.2011,.at.the.supervisory .Board’s .recom -

10 annual report 2011

new .auditor.in.2011,.at.the.supervisory .Board’s .recom - 10 annual report 2011 11

11

‘We . believe . that . it . is . by . definition . wise
‘We . believe . that . it . is . by . definition . wise . to .
switch . to . a . new . auditor . every . few . years,’ . Van . Berckel.
‘ t his . increasingly . reflects . the . views . of . the.
Dutch . government . on . this .
And . in . particular .
CoRPoRAte. GoV eR nA nCe
bearing.in.mind.the.next.phase.in.the.company’s.exist-
ence . it . is . good . that . the . organisation . is . examined . from
outside . with. fresh . eyes.’
.
Committed. employees
accountability.that.the.Corporate.Governance.Code.im
-
t
he .supervisory . Board . also . noticed . a . great . deal . of . en -
gagement . and . flexibility . among . the . employees . of . Van
.
.t he .s upervisory . Board .
poses . on . enterprises . perfectly . reflects . Van . Gansewin -
kel.Groep’s.philosophy.and.the.way.in.which.it.conducts .
Gansewinkel . Groep . in .
2011.
is
.
noticed . the . same . engagement . among . the . members . of.
the . Central . Works .
Van . den . Driest . comments,
.
Risk . management . has . the . full . attention . of . the . Board.
e mployee . participation . at . Van . Gansewinkel . Groep . is .
of
.
Directors.
.t he . principle . is . to . map . out . any . risks . that .
a
. critical, . but . constructive .
process.
.t he . Central . Works.
Van Gansewinkel Groep bv is subject to the limited
two-tier board system. This means that the statu-
tory provisions regarding the two-tier board sys-
tem apply, with the exception of the provisions laid
down in Article 272 of Book 2 of the Dutch Civil
Code: directors are appointed and dismissed by the
General Meeting of Shareholders rather than by
the Supervisory Board.
arise.and.ensure.that.communications.about.those.risks
.
Council . has . many . of . the . same . issues . on . its . agenda . as.
we.do,.and.is.primarily.concerned.with.the.impact.that .
are . as . transparent . as .
possible.
.t he . Board . of . Directors
.
As . required . by . law, . the . General . Meeting. of .s harehold
-
will.use.the.relevant.principles.from.the.Corporate.Gov-
measures . have . on . the . employees hat . is. positive.’
t
ers . holds . all . powers . not . granted . to . the . Board . of . Direc -
ernance . Code . in . this.
tors.or.to.other.parties he.company.is.managed.by.the .
t
t
he .supervisory . Board . wishes . to . express . its . gratitude
.
Board . of .
Directors.
.t he . policies . adopted . by . the . Board
.
o
ne . of . the . strategic . objectives . of . our . current . share -
to . all . the . company’s . employees . for . the . dedication . dis -
of
. Directors . are . monitored . by . the .s upervisory . Board.
.
.

. significant . demands . on . them, . and . they . all . deserve . a . compliment . for . the . results . achieved.’

‘ t he . difficult . market . conditions . have . placed

In . addition, . the .supervisory . Board . is . consulted . on . im -

portant . matters . concerning . the .

.specifically, .

company.

holders . is . that . in . due . course . Van . Gansewinkel . Groep will . change . ownership, . and . going . public . is . one . of . the

options.

.

.

.t his . will . mean . even . stricter . requirements . for

under.the .company’s .Articles .of.Association,.a.number

the . transparency . and . accountability . in . our . business.

. major . Board . resolutions . are . subject . to . the .s upervi

of

-

sory . Board’s . prior . approval

 

As .such,.the .company’s .corporate .governance .was .fur

-

 

two . members . of . the .s upervisory . Board . are . not . inde -

ther.professionalised.during.the.reporting.year

Prepa

-

pendent . as . defined . in . the . Corporate . Governance . Code, .

rations . have . been . made . to . amend . the . regulations . for

 

as.they.represent.KKR.and.CVC.Capital.as.major.share -

the . Board . of . Directors . and . the .s upervisory .

A .

holders.in.the.company

Mr.Berdowski.and.Mr.Van.den

decision . will . be . made . in . the . proposed . amendments . in .

Driest . are . independent . members . of . the .s upervisory

2012.

. In . addition, . a . decision . was . made . in . 2011 . about .

Board . (see . page .

a

. code . of . conduct, . which . will . be . implemented . early . in.

t he .supervisory . Board . meets . at . least . four . times . each .

year, . and . as . many . more . times . as . is . necessary, . or . is .

deemed.to.be.necessary,.in.view.of.the.company’s.inter

ests.

sory.Board.are.governed.by.the.provisions.laid.down.in . Article . 268 . of . Book . 2 . of . the . Dutch. Civil .

- .t he . composition . and . appointment . of . the .supervi -

2012. .t he . company . also . supports . the . principles . of . the .

.

publish.reports.on.their.implementation.starting.in.the .

2012 . reporting . year.

u nited .n ations . Global . Compact . programme . and . will

.

the . course . we . have . adopted, . of . ensuring . transparent communications .with.our.stakeholders.about.our.strat-

.

It . is . our . intention . to . continue . to . concretely . implement

n

ot . being . listed . on . the . exchange, . Van . Gansewinkel

egy, . results, . risks . and . opportunities . (s Wot

).

.o ur . GRI .

Groep . is . not . obliged . to . apply . the . principles . and . best

A+ . status, . reporting . in . accordance . with . IFR s. and . the

practices . laid . down . in . the . Dutch . Corporate . Govern -

information . in . this . annual . report . demonstrate . that . we

ance .

However, . the . degree . of . transparency . and.

are . actually . putting . that . ambition. into . practice.

12 annual report 2011

. of . transparency . and. are . actually . putting . that . ambition. into

13

ReP oRt . oF. t H e

BoARD. oF. DIR eC toR s

ReP oRt . oF. t H e BoARD. oF. DIR eC toR s From . left
ReP oRt . oF. t H e BoARD. oF. DIR eC toR s From . left

From . left . to . right: .yves . Luca, . Diederik . Gijsbers, . Rob . de. Fluiter . Balledux. and . Ruud .s ondag.

14 annual report 2011

Mission

Waste . is . produced . wherever . people . work . or .

And .

sooner.or.later.that.waste.is.generally.removed,.cleaned

up . or .

Van . Gansewinkel . Groep . sees . matters

differently We.see.it.as.our.duty.not.to.throw.away.any-

Because . in . the . long . term . throwing . waste .

thing . at .

away . contributes . nothing, . to . business . or . to . society.

Van . Gansewinkel . Groep . does . make . that .

Permanently.

.t his . means . that . we . see . waste . not . as . a.

residual . product . but . instead . as . a . valuable . beginning

 

of . a. new .

In . this . way . we. can . give. waste . a . second

life . and . use . it . for . new . raw . materials . or . for . producing . green . energy.

Vision

Most.people.see.waste.as.something.undesirable,.some -

Core values

Putting the customer firstWe are involved, genuinely interested and customer- oriented. Progressive Our vision is Waste No More.

We are involved, genuinely interested and customer- oriented.

Progressiveare involved, genuinely interested and customer- oriented. Our vision is Waste No More. This fits in

Our vision is Waste No More. This fits in with the cradle-to-cradle philosophy.

Partnership and trustNo More. This fits in with the cradle-to-cradle philosophy. We guarantee integrity and transparency in the

We guarantee integrity and transparency in the pro- cessing of material streams.

Prioritising safetyand transparency in the pro- cessing of material streams. We want everyone who works for us

We want everyone who works for us to be able to go home healthy and well.

Promoting competence and expertiseWe want everyone who works for us to be able to go home healthy and well.

We encourage personal growth and collaboration.

make.sure.safety,.competence.and.expertise.are.always

.

thing . that . has . no .

Van . Gansewinkel . Groep . has

a.top.priority hat’s.what.gives .waste.“star.quality” .as .

t

a

. different .

view.

.today’s . waste . contains . the . seeds . for

recycled . materials . and .

For . us . there . is . no . such.

tomorrow’s . products . and .

We . even . turn . it . into .

thing . as . waste.’

something .

We . say, . Waste .no . More.

 

t

his . is . how . we . safeguard . our . standards . and . values.

Van.Gansewinkel.Groep.works.to.find.the.most.sustain -

t

hese . principles . guarantee . that . our . way . of . working

.

possible . a . second . life . in . the . form . of . raw .

can . be . given . that . second . life . because . of . our . thorough.

It .

able . solution . for . its . waste . and . gives . as . much . waste . as

t he . waste . that . remains . is . used . as . fuel . in . our . energy-

remains . clear.

suppliers . and . to . the . world . around . us

.to. our . employees, . to . our . customers. and.

from-waste . plants, . allowing . us . to . supply . sustainable

Market . position

electricity.and.heat.to.hundreds.of.thousands.of.homes

and . businesses.

Van . Gansewinkel . Groep . is . both . a . waste . service . pro -

vider . and . a . supplier . of . raw . materials . and . energy, . and .

is . active . in . the . whole . of . the . waste . supply .

.t he.

chain.

Core . values

company.collects.all.types.of.waste.and.treats.and.pro - cesses.waste.to.produce.raw.materials.and.energy With.

a

. turnover . of . €1.2 . billion, . Van . Gansewinkel . Groep . is.

Ceo.Ruud.s ondag.explains,.‘Respect.for.our.people.and.

the . market . leader . in . the . Benelux . and . among . the . ten.

the . environment . lies . at . the . heart . of . everything . we . do

 

leading . operators .

in.the.field.of.collection,.recycling.and.energy

We.seek

to .continually .improve .our .performance .and .processes .

t

he . existing . portfolio . and . the . existing . geographic

in.the.areas.of.health,.safety.and.the.environment

As.a

 

spread . offer . an . ideal . platform . for . growth, . which . will

 

service.provider.we.aim.to.deliver.top-quality.services

We . approach . this . in . our . own . way, . in . accordance . with. Van.Gansewinkel.Groep’s.five.stars.(core.values) using. advanced . solutions . and . working . on . the . basis . of . mu -

And.we .

tual.trust,.our.focus.is.always.on.the.customer

be . realised . both . organically . and . through . acquisitions. Van . Gansewinkel . Groep . intends . to . expand . its . waste.

.

service.activities.and.its.recycling.activities he.focus .

in . the . consolidating . waste . incineration . market . is . on . maximised . energy . yields.

t

he.focus . in . the . consolidating . waste . incineration . market . is .

15

Top 9

waste management companies in the Benelux (turnover 2010 in € bn)

Van Gansewinkel 1.1 Groep 1.0 Sita 0.6 Shanks Indaver 0.4 Attero 0.3 AEB 0.2 HVC
Van
Gansewinkel
1.1
Groep
1.0
Sita
0.6
Shanks
Indaver
0.4
Attero
0.3
AEB
0.2
HVC
0.2
Omrin
0.1
Twence
0.1
0.0
0.2
0.4
0.6
0.8
1.0
1.2

Top 10

waste management companies in Europe (turnover 2010 in € bn)

Veolia 9.3 SUEZ 5.9 Remondis 5.3 FCC 3.7 Alba Group 2.7 ACS/Urbaser 1.5 Van Gansewinkel
Veolia
9.3
SUEZ
5.9
Remondis
5.3
FCC
3.7
Alba Group
2.7
ACS/Urbaser
1.5
Van
Gansewinkel
1.1
Groep
Ferrovial/Cespa
0.9
Biffa
0.8
Shanks
0.8
0.0
2.5
5.0
7.5
10.0

Source: research Van Gansewinkel Groep

Market . trends . in . 2011

slight

. economic . recovery . during . the . first. six .

months,. sharp . economic . decline . during. the . last . six.

months

stable

. waste . volumes. in . the. Benelux .

o

vercapacity . and . price . pressure. in . the .e nergy . from .

Waste . market . (waste . incineration) .

Price

. pressure. in . the .e nergy . from . Waste . market .

visibly . impacts. the . collection . market .

Increase

. in . the . demand . for. sustainable . solutions . for .

waste . issues.

Increase

. in . the . demand . for. renewables . (secondary .

raw . materials . and . energy)

Increases

. in . prices . for. raw . materials . during . the .

first . six . months, . decline . in . prices . during . the . last . six . months. Average. prices . at . a. higher . level . in . 2011 . than . in . 2010

Growing.

awareness . of . the . scarcity . of . raw . materials .

(see . page . 87)

Current positions Van Gansewinkel Groep by geographical location

 

Revenue

Activities

Market position

The Netherlands

€816 million

Collection & Services Raw materials & Recycling Energy from Waste

Market leader

Belgium

€274 million

Collection & Services Raw materials & Recycling

Challenger

Czech Republic

€31 million

Collection & Services

Follower

Poland

€11 million

Collection & Services

Follower

Other

€54 million

Collection & Services Raw materials & Recycling

Follower

Total

€1,186 million

Collection & Services Raw materials & Recycling Energy from Waste

For more information about our international activities see page 34.

16 annual report 2011

Development European waste market

Three different phases can be distinguished in the development of the European waste market: countries that use landfills to dispose of their waste (phase 1); countries that use landfills and, on a limited scale, incineration or recycling (phase 2); and countries that focus largely on recycling, with little incineration and barely any landfilling (phase 3). The countries in which Van Gansewinkel Groep operates are divided across these three phases. Van Gansewinkel Groep expects that European countries will eventually evolve to phase 3, which represents an estimated volume of €225 billion. The diagram below shows that the European waste market is a growth market. *

Size in € billion

225
225
175
175
90
90

Phase 1

Phase 2

Phase 3

Basic waste services, mainly landfill against low pricesSize in € billion 225 175 90 Phase 1 Phase 2 Phase 3 Limited legislation and

Limited legislation and low interest in sophisticated waste management3 Basic waste services, mainly landfill against low prices Limited expenses per capita Virgin material Landfill

Limited expenses per capitaand low interest in sophisticated waste management Virgin material Landfill Production Collection

Virgin material Landfill Production Collection Distribution Users
Virgin
material
Landfill
Production
Collection
Distribution
Users

Legislation to reduce landfill results in increasing landfill taxes, opening the market towards recycling and incinerationLandfill Production Collection Distribution Users This boosts the total waste market New activities: sorting,

This boosts the total waste markettaxes, opening the market towards recycling and incineration New activities: sorting, recycling and incineration

New activities: sorting, recycling and incinerationand incineration This boosts the total waste market Incineration/ Virgin landfill material Processing

Incineration/ Virgin landfill material Processing Production Collection Distribution Users
Incineration/
Virgin
landfill
material
Processing
Production
Collection
Distribution
Users

EfW

Transition towards more sustainable waste managementProcessing Production Collection Distribution Users EfW Recycling becomes more economically attractive and there is

Recycling becomes more economically attractive and there is more focus on raw materials supplyEfW Transition towards more sustainable waste management Waste market expands to raw material market, generating

Waste market expands to raw materialattractive and there is more focus on raw materials supply market, generating additional revenues and more

market, generating additional revenues and more added value per ton:

- Raw materials trading

- Aggregation & coordination of services

Incineration transforms to Energy from Waste (EfW)trading - Aggregation & coordination of services Virgin material Raw materials trading Aggregation &

Virgin material
Virgin
material
Raw materials trading Aggregation & Coordination Users
Raw materials
trading
Aggregation &
Coordination
Users

Collection

Processing
Processing
Production
Production

Distribution

* Survey conducted by Deloitte (2010) at Van Gansewinkel Groep’s request.

Processing Production Distribution * Survey conducted by Deloitte (2010) at Van Gansewinkel Groep’s request. 17

17

sWot. analysis

STrEnGThS

 

Increase

. in . industrial . production .

.strong. market. position .

Financially

. solid . shareholders .

perations . in . the . whole. of . the . waste . supply . chain . (collection, . recycling, .e nergy . from. Waste) .

o

Group-wide

. operational . improvement . programmes .

Customer

. focus . resulting . from. decentralised

ThrEaTS

organisation; . high. scores. for . customer. satisfaction .

Volatility

. of . prices. for. raw . materials .

Diverse

.customer . base; . active . in. all . industries.

Recession

. or. insufficient . economic . recovery .

Cash-generating.

potential .

Price

.movements . in . the . collection . market .

understanding

. of . raw . materials . and. logistics .

uncertainty

. about . the . stability . of . the. financial.

systems.

system.

Favourable

. geographic . situation. of . energy-from-

Rising

. interest . rates.

waste . power . plants .

Insufficiently

. level . playing. field . in . Collection . and .

strategic

. alliances . with. customers . and. suppliers.

e

nergy . from . Waste .

Dedicated

. and . skilled . employees,. high . level

Budget

. deficits . in . Western .europe .

of . employee . satisfaction .

 

High

. standards . in . terms . of . safety . and. compliance;.

PoinTS of aCTion

complete . I so. certification.

Make

. better . use. of . our . size . and . market . position . in.

Good

. utilisation . of . waste . incineration .capacity . dur -

 

the . Benelux . in . the . fields. of. collection . and . recycling

ing . the. coming . years. based . on . long-term. contracts

Create

. a . second . home . market . in . Central . and

Contracts

. for. district . heating . and. supplies. of . steam

e

astern .europe.

Good

.relationship . with. our . financiers

Implement

. more . structural . efficiency . improvements .

WEaKnESSES

 

throughout . the . organisation . (standardise . and . pro - fessionalise . processes) .

small

. position. outside . the . Benelux.

Reinforce

. Innovation . & . Business . Development.

Limited

.share .of .Recycling . within. Van .Gansewinkel .

Further

. improve . energy . yields. and . increase . the .

Groep’s . total . turnover.

stability . of . the . energy-from-waste . plants.

Highly

. differentiated. IC t.landscape .

Increase

. the . expertise . of . staff. by . providing. training .

As

yet . limited. use . of . group-wide . services .

and . taking . on . new . employees .

Ratio

. between . equity . and. borrowed. capital . (high .

Prepare

. for. new . ownership . structure.

leverage) .

Create

. a . second . home . market . in . Central . and .e ast-

Lack

. of. equity . and. other . financial . resources . to. fully .

ern .europe .

roll . out . our . strategy

Grow

. in . recycling,. including . beyond . current . geo -

graphic . area .

Vision

Vision

Objective

Objective

Strategy

Leading raw materials and waste management company
Leading raw materials and waste management company

Leading raw materials and waste management company

Leading raw materials and waste management company
Leading raw materials and waste management company
Leading raw materials and waste management company
Leading raw materials and waste management company
Leading raw materials and waste management company

Optimise

home markets

Establish European

footprint

Redefine

industry

Strengthen position Benelux

Optimise Energy from Waste activities

Build second home market in Central and Eastern Europe

Grow as supplier of raw materials

Develop new

services

Build second home market in Central and Eastern Europe Grow as supplier of raw materials Develop
Build second home market in Central and Eastern Europe Grow as supplier of raw materials Develop

strategy . for . 2011-2014

Van . Gansewinkel . Groep . aims . to . expand . its . waste . ser -

vice . activities . and . other . services . and . accelerate . the .

.t he .focus .in . the .con -

growth .of . its . recycling.

solidating . waste . incineration . market . is . on . maximised .

energy . yields.

.t he . existing . portfolio . and . the . existing.

geographic . spread . form . an . ideal . platform . for . expan -

activities.

customers .in.a.growing .number .of.business.processes

Van . Gansewinkel . Groep . wishes . to . strengthen . its . po - sition . in . the . Benelux . and . is . continually . and . actively . on . the . lookout . for . new . customers . in . every . industry

Its . large . scale, . wide . range . of . services . and . vision . with . regard . to . waste . and . sustainability . are . what . set . the .

In . addition, . over .

company . apart . from . its .

oPPorTuniTiES

 

sion.

.e urope . is . a . growth . market . for . Van . Gansewinkel

the . past . decades . Van . Gansewinkel . Groep . has . grown

s

carcity . of . raw. materials . and .developments . in

Groep, . not . a . displacement . market . (see . also . page . 20).

rapidly .through .acquisitions, .and .it .wishes .to .continue .

regulations . at. national . and .european. level

t

he . expansion . will . be . realised . both . organically . and.

this . form . of .

Besides . the . potential . offered.

Prices

. for . Co 2 . emissions

through . acquisitions

by .multiple .small .regional .operators, .large .prospective .

Approaching

. end. of . competitors’ . processing.

acquisitions. have . also . been .

contracts .

1. STronGEr PoSiTion in ThE BEnElux

 

Increasing

. importance . of . sustainable . energy .

Customers . are . focusing . more . and . more . on . their . core .

Developments during 2011:

Increasing

. focus . on . sustainability. and .

activities,.encouraged.by.the.growing.complexity.of.leg-

• Acquisition

. of . Veolia. in . Belgium

cradle-to-cradle .

islation .and.accountability

As.a.consequence,

.they .are .

Besides

• Roll-out.

of . quality . and . efficiency . programmes . (on -

Possibilities

status . of. the . energy-from-waste . plants .

. for . importing. waste . thanks . to . the . R1 .

increasingly .calling.on .the .services .of .parties supervise.or.take.over.their.non-core.activities

.that.can .

board . computers, . computerised . planning. systems)

• . for . new . quality. and . efficiency .

Preparations

o

pportunities . for . growth, . both . organic. and . through .

operational . performance, . analysis, . advice, . monitoring .

programmes

acquisitions .

and .reporting .are .becoming

.more.important.

.t his .pre -

Growth.

of . the . waste . market. in . Poland . and. the .

sents . opportunities . for . Van . Gansewinkel . Groep . to . ex-

Czech. Republic .

pand . its . range . of . services . and . work . more . closely . with

18 annual report 2011

Czech. Republic . pand . its . range . of . services . and . work

19

2. oPTimiSaTion of EnErGy from WaSTE oPEraTionS

Van . Gansewinkel . Groep . extracts . as . many . raw . mate -

However, . some . waste . is.

composed . in . such . a . manner . that . it . is . impossible . to . ex-

tract . raw . materials . using . existing .

cases, . the . waste . is . given . another . useful . purpose: . it . is .

Van .

Gansewinkel.Groep’s.focus.is.on.generating.the.highest .

Waste.materials.are .seen .as.fu -

possible .energy .yields

els .that .can .be .dosed .to .optimise .the.energy.produced, .

in. the . form . of . steam, . heat . or. electricity An. example. is.

In . such.

rials . as . possible . from .

incinerated.and.converted.into.sustainable.energy

forms . an . incentive . for . innovations . aimed . at . seeking . out.alternatives.to.scarce.raw.materials.and.reclaiming .

materials.from.existing.products he.volume.of.materi - als . given . a . second . life . will. increase.

t

- runner . in . this . development . and . to . expand . as . a . sup - plier . of . raw . materials, . using . both . its . own . innovative . treatment.and.recycling.plants.and.the.services.of.third. parties It.is.setting.up.partnerships.with.customers,.in. which . raw . materials . and . composites . of . raw . materials.

are . selected . during . the . design . phase . that . can . be . re -

It . is . Van . Gansewinkel . Groep’s . intention . to . be . a . front

the . provision . of . district .

In . this . fashion . AVR, .

claimed . and . recycled . after . the . product . has . been . used.

which.is.part.of.Van.Gansewinkel.Groep,.is.undergoing .

t he.focus.is.on.the.ongoing.development.of.four.clusters

. transformation . from . a . traditional . waste . incinerator . into . a . supplier . of . sustainable .

a

of.materials:.biogenous.materials.(with.organic.origins), metals,. minerals . and .plastics.

Developments during 2011:

 

In.this.way.raw.materials.retain.their.value,.the.contin -

exhaustion.can.be.avoided

An.understanding.of.materi

Import

. of . waste. from . other. countries . to . ensure .

ued . availability . of . raw . materials . is . ensured . and . fossil .

optimum . capacity . utilisation

Preparations.for.supplying.district.heating.in

-

Rotterdam

als . is . vital, . and . Van . Gansewinkel . Groep . will . continue to . invest . in . that . area.

 

Preparations

. for . supplying . steam. to . industrial . sites.

 

in . the . Rotterdam-Botlek . area

e xpanding . these . activities . means . that . recycling . will become.a.more.prominent.component.of.Van.Gansewin -

 

3.

CrEaTion of a SEConD homE marKET in CEn-

kel.Groep’s .portfolio, .through .organic .growth,.through .

Tral anD EaSTErn EuroPE

(cradle-to-cradle).partnerships .and.other.alliances .and through. acquisitions.

Developments during 2011:

Appointment

. of . consultancy . firm. Roland . Berger . for .

a

. strategic . roadmap . for . Recycling

Decision

. about. investment . in . a . glass. recycling . plant

in . France . (see . page . 28)

Van . Gansewinkel . Groep . develops . new . products . and . -

services . to . meet . the . broad . demand . for . sustainable . so lutions, . such . as:

Van.Gansewinkel.Groep.plans.to.develop.a.second.home .

market . for . all . its . activities . in . Central . and .e astern .e u - At . present, . the . company . already . operates . in . the .

Czech . Republic, . Poland. and.

the . field . of . waste . and . environmental . solutions . that . it. has . acquired . in . the . Benelux . in . recent . years . will . be

. applied.in.Central.and.e astern.europe he.demand.for .

sustainable . solutions . to . waste . issues . in . that . region . is .

growing,.and.national.and.european.environmental.leg- 5. DEVEloPmEnT of nEW SErViCES

islation.may.cause.it.to.increase.at.an.accelerated.pace.

Hungary.

.t he. expertise . in .

t

Developments during 2011:

• Realisation

. of . organic. growth. (+16%)

Materials.

to . product . specifications. (raw. materials .

• study

. of. interesting. potential . acquisitions

that . meet . customers’ . product . specifications) .

 

• First.

steps . towards . sorting. streams . of . household .

o

rganisation . and/or . implementation . of. logistic . take .

waste . in . Poland

   

 

back. systems. Development.of.new.products,.such.as.Van.Gansewin

-

• Introduction.of.Integrated.Waste.Management.concept from.the.Benelux.in.Poland.and.the.Czech.Republic

kel.office.Paper.and.Destra.totaal.(see.page.100)

4. ExPanSion aS a SuPPliEr of raW maTErialS

t he.global.supply.of.raw.materials.is.not.inexhaustible,.

and.access.to.increasingly.scarce.materials.is.no.longer.

an . automatic . given.

20 annual report 2011

.t his . is . causing . prices . to . rise . and .

Developments during 2011:

• Investments.in

.innovative.services.and .products, .for .

example . F oRZ, . Destra .totaal . and . the . Walking . Bins. (see . page . 100-101)

Key objectives

the . Walking . Bins. (see . page . 100-101) Key objectives People Key objective Indicator
the . Walking . Bins. (see . page . 100-101) Key objectives People Key objective Indicator

People

Key objective

Indicator

Ambition for 2012

Notes

Craftsmanship with

Staff turnover

10.0%

Van Gansewinkel Groep will continue to invest in development possibilities and its intention is to set

passion

Employee motivation

7.4

Training efforts

1.8%

itself apart by having motivated, qualified and expert employees.

A safe and healthy working environment

Injury Frequency

7.5

Van Gansewinkel Groep’s employees carry out their work in accordance with the strictest health and

Severity rate

0.15

 

Absence rate

4.9%

safety regulations and in a safe working environment that is kept in good condition.

a safe working environment that is kept in good condition. Planet Key objective Indicator Ambition for
a safe working environment that is kept in good condition. Planet Key objective Indicator Ambition for

Planet

Key objective

Indicator

Ambition for 2012

Notes

Waste remains a raw material

Second life

58.5%

Van Gansewinkel Groep presents itself as a supplier of raw materials and energy, and its object is to maximise high-quality reuse of collected waste.

Reduce ecological

CO 2 emissions prevented in the total chain

1.25 mtons

Van Gansewinkel Groep assists customers and suppliers in their attempts to reduce CO 2 emissions, and wishes to minimise its own emissions too as far as is possible. The target is to minimise the CO 2 emissions in the whole chain.

 

footprint

Net yield from energy generation in Energy from Waste activities

23.1%

Van Gansewinkel Groep wishes to make the best possible use of the energetic value of waste, by not only producing electricity (primarily green electricity) but also by selling more and more heat and steam.

Increase in high-quality recycling

New C2C projects implemented*

15

Its understanding of materials, raw materials and logistics systems allows Van Gansewinkel Groep to work together with customers to balance their cycles, giving waste a second life in the form of raw materials for products.

a second life in the form of raw materials for products. Profit Key objective Indicator Ambition
a second life in the form of raw materials for products. Profit Key objective Indicator Ambition

Profit

Key objective

Indicator

Ambition for 2012

Notes

Solid, profitable growth

EBITDAE margin

21%

Growth initiatives should contribute directly to EBITDAE, improve the balance sheet position and reinforce the Waste No More proposition.

Return on capital employed (ROCE)

6%

Long-term partnerships with customers (chain)

Customer

8.2

The focus is on customer-orientation. Van Gansewinkel Groep uses transparent, innovative and reliable methods and studies its customers’ processes in detail.

satisfaction

* The performance indicator for the key objective of ‘increase in high-quality recycling’ is the number of new C2C projects implemented. Besides this performance indicator, we also seek to provide information about the materials for which we have identified a higher-grade processing method. In many instances, this is an essential step towards full application of the cradle-to-cradle princi- ple. This can be illustrated by the implementation of a recycling method for a stream of waste that has previously only been incinerated, using a different separation technique to further increase the proportion of recycled material, or working with a producer to take the first steps in realising a different design and composition of a product or for which a new design approach was adopted.

steps in realising a different design and composition of a product or for which a new

21

M A W m s u a t o l s i B g r

M

A

W

m

s

u

a