This year, particular attention was given to the individual strategy plans of the business units. Also, as a board, we visited Prestia on site and started rotating our board meetings to different ROTO sites when possible. It remains the Supervisory Board’s strong conviction that a value driven, proactive approach to sustainability is essential from both a risk management and entrepreneurial perspective.
ROTO’s growth in a dynamic world emphasises the need to keep developing and strengthening our Business Units’ leadership and control. The ROTO leadership team has actively made large strides in this regard over the past year, despite challenging operational circumstances. It is the Supervisory Board’s conviction that developing and supporting leadership within our Business Units stimulates entrepreneurship allows us to remain agile and proactive, close to our core markets and clients, whilst retaining control and overview.
It is the Supervisory Board’s conviction that developing and supporting leadership within our Business Units stimulates entrepreneurship allows us to remain agile and proactive, close to our core markets and clients, whilst retaining control and overview.
Coert Zachariasse, chairman of ROTO’s Supervisory Board
Performance evaluation
The Supervisory Board has also assessed the management of Roto B.V. and concluded that it performed well in 2022. Their focus remained on further rolling out the ROTO Strategy House and its core values, while staying vigilant on the operational performance of ROTO, both of which have resulted in excellent financial results. The Supervisory Board will maintain an open and constructive dialogue with the management of Roto B.V. and support them to the best of its ability.
In a separate meeting, the Supervisory Board evaluated its own performance. The self-evaluation showed that the varietyin backgrounds and the expertise within the Supervisory Board is sufficient to fulfil a critical supervisory role.
Outlook
As stated earlier, the year 2022 has seen a great deal of volatility, both geopolitical and economical. The war in Ukraine and the subsequent sanctions against Russia have resulted in very volatile commodity prices, a steep increase in energy prices and a high-inflation economy. Central banks have reacted by sharply raising interest rates.
All this has a severe impact on the construction industry, the offshore industry, the energy prices and the commodity markets. It is a fact that ROTO is and will be affected by these profound changes. It is, however, impossible to assess the effect on developments in our core markets in the longer term. Therefore, the results for 2023 are difficult to predict.
The Supervisory Board follows developments closely and is kept well informed by the management of Roto B.V. about the consequences for the ROTO Business Units. ROTO’s financial position is robust, and the group has a strong liquidity position. This buffer gives the management of Roto B.V. the peace of mind to take adequate measures and continue the strategic investment decisions to align the organisation for the future. The Supervisory Board will continue to monitor developments critically in 2023 in order to perform its supervisory duties optimally.
Entrepreneurial, reliable, passionate and committed
The Supervisory Board would like to thank all our passionate and committed Family members that helped ROTO to further strengthen its position in 2022. We particularly thank all the individual and collective actions that spontaneously took place to alleviate the dire conditions of people in Ukraine as a result of the ongoing war. For us, this shows that our ROTO values are broadly shared within our ROTO Family. Of course, the current volatility of the economic developments will affect the sectors where ROTO does business in 2023. The management teams of the Business Units feel strongly committed to our ROTO Strategy House, which gives us confidence that they will steer ROTO safely through these unpredictable economic and political times.
Uitgeest, 20 June 2023
The Supervisory Board
Coert Zachariasse, Chairman Heleen Cocu-Wassink Petra van Saaze Arnaud de Boer