Annual Report 2007

2007--- Ramboll Group A/S Group Ramboll Annual Report

Annual Report 2007 Ramboll Group A/S Knowledge taking people furtherpeople taking Knowledge Including the customer in our work processes When developingsolutions for our customers, Ramboll’s engineers make use of a range of techniques in order to search for optimal outcomes. In the initial idea phase, our engineers usually prepare handmade drawings of theirhelp proposals visualisation to for the customer. Our application of 3D technologiesthe design during phase enables more people to be involved, and ensures that thepossible best solutions and excellent results are reached. In the ﬁnal phase, modelsof the design will often be prepared to give the customer the opportunityexperience to the ﬁnished design in real life. Content The Ramboll Group

Head office Introduction 3 The Ramboll Group Facts 4 Ramboll Group A/S Russia Board of Directors and Executive Board 6 Teknikerbyen 1, 2 ZAO Ramboll Rambøll Danmark A/S DK-2830 Virum Foochika street 4 A Independent Auditor’s Report 8 MD, Robert Arpe Tel. +45 4598 6000 192102 St. Petersburg Key statistics 10 Fax +45 4598 6700 Russia Directors’ Report 12 Ramböll AB (Sweden) www.ramboll.com Tel. +7 (812) 705 2065 Holistic Report 16 MD, Bent Johannesson www.ramboll.ru Design within architecture and landscaping 22 Principal offices Rambøll Norge AS Climate and energy solutions 28 Lithuania Infrastructure development 34 MD, Jan Ove Holmen Denmark UAB Ramboll Lietuva Rambøll Danmark A/S Sv. Stepono g. 39 Buildings and high-rise in a sustainable context 40 Ramboll Group A/S Ramboll Finland Oy Bredevej 2 LT-03210 Vilnius Water and environment 46 Group Chief Executive Officer, Flemming Bligaard Pedersen MD, Markku Moilanen DK-2830 Virum Tel. +370 5233 4112 Annual Report 52 Group Chief Market Officer, Søren Holm Johansen Rambøll Management A/S Tel. +45 4598 6000 www.ramboll.lt Accounting policies 56 www.ramboll.dk Notes 62 Group Chief Operating Officer, Beate W. Bentzen MD, Tonny Johansen Estonia List of awards 70 Rambøll Informatik A/S Rambøll Management A/S Ramboll Eesti AS Olof Palmes Allé 20 Laki 34 MD, Thorleif Mortensen DK-8200 Århus N EE-12915 Tallinn Ramboll Oil & Gas (Rambøll Danmark A/S) Tel. +45 8944 7800 Tel. +372 664 5808 MD, Dan Madsen www.ramboll- www.ramboll.ee management.com Ramboll Whitbybird Holdings Ltd Latvia MD, Mike Crane Rambøll Informatik A/S SIA Ramboll Latvija Teknikerbyen 1 Brivibas 55, Entr. II DK-2830 Virum Room 506 Tel. +45 4598 5400 LV-1010 Riga Principal offices www.ramboll- Tel. +371 7 013 260 informatik.dk www.ramboll.lv 128 Permanent offices in the North European region Ramboll Oil & Gas Poland Willemoesgade 2 Ramboll Polska Sp.z.o.o. DK-6700 Esbjerg ul. Doki 1 Tel. + 45 7913 7100 80-958 Gdansk www.ramboll-oilgas.com Poland Tel. +48 58 762 08 28 Finland Ramboll Finland Oy Piispanmäentie 5 FI-02241 Espoo Tel. +358 20 755 611 www.ramboll.fi

Norway Rambøll Norge AS Engebrets vei 5 P.O. Box 427 Skøyen N-0213 Oslo Tel. +47 2251 8000 www.ramboll.no

Sweden Ramböll AB Kapellgränd 7 P.O. Box 4205 SE-102 65 Stockholm Tel. +46 8 615 6000 www.ramboll.se Group Directors´ Forum (from left to right) Flemming Bligaard Pedersen, UK Ramboll Whitbybird Holdings Ltd Søren Holm Johansen, Beate W. Bentzen, 60 Newman street Robert Arpe, Bent Johannesson, London W1T 3 DA Jan Ove Holmen, Markku Moilanen, UK Tonny Johansen, Thorleif Mortensen, Tel. +44 207631 5291 Dan Madsen and Mike Crane. www.rambollwhitbybird.com Directors’ Report 3

2007 was another successful tegrate companies and people could be a threat to further of being part of the same large year for Ramboll. This publica- into an organisation while si- globalisation. ‘One Company’ organism is a tion epitomises the recent multaneously staying focused pre-requisite for our success development of our company on profiting from obvious joint In acknowledgement of the in the years to come. In our in a way that clearly reflects business wins. importance of timeliness, business sectors we will see our vision and strategy for in- we have therefore begun an increasing need for cross- ternational growth. We took an We have enjoyed an excellent preparing our organisation for border transactions, and we important step into the global market situation for the past such potential future risks by will see that clever consultants business arena by making a three years, but now the time prioritising Group aligned IT are focusing on the real couple of significant acquisi- has come to prepare for less platforms, international pro- business opportunities crea- tions, particularly British- profitable and more competi- cedures and work processes. ted by the global sustainability based Ramboll Whitbybird; tive times. The risks of growing This is to ensure cohesion, agenda. In Ramboll we must and we were successful in the instability and a potential enable maximum operational be able to respond to this development of our strategy financial crisis are looming on flexibility and to increase the development by always linking towards increased geographi- the horizon. We need to brace potential for acting swiftly in our areas of expertise and cal exposure and broadening ourselves for this development relation to reallocation of peo- sharing our knowledge with of our technical expertise. This by making risk management ple and competences. each other – for the benefit of expansion gave us new oppor- a top priority in the years to our customers and communi- tunities in our ‘fight for talents’, come. We have to be aware of However, new technical ties around the world. but also serious challenges new, large-scale risk factors of systems and risk management as we were reminded what a a geo-strategic, political and alone are not sufficient to pre- Flemming Bligaard Pedersen, huge and demanding task it is financial character leading to pare for the future. A common Group CEO to quickly and successfully in- increased protectionism that perception among our people 4 Directors’Facts Report Directors’ Report 5

Proﬁle The Ramboll Group employs close to 7,000 dedicated specialists. We are a leading North European company operating in a broad international context. We provide engineering, consultancy, product development and operation services within the areas of:

- Buildings & Design - Infrastructure & Transport - Environment & Nature - Energy & Climate - Industry & Oil/Gas - IT & Telecom - Management & Society

Mission Our assets are knowledge and experience. We provide consultancy and services within engineering, management and IT in an international context. Our solutions contribute towards better living and working conditions for people and Broad international presence sustainable development of society. We scrutinise our We have activities all over business performance to continuously match customer the world and operate needs and we develop our competence areas accordingly. from permanent ofﬁces in 21 countries. In several other countries such as Laos, Vietnam and Zambia Vision we have temporary ofﬁces. We will be the leading European general engineering consultancy company – supplemented by world class specialised competence areas. We are acknowledged as the most attractive employer within our profession. We continuously strive for better economic performance with a strong focus on the long term value for our shareholders.

Ownership All shares in Ramboll Group A/S are owned either by the Ramboll Foundation (94%) or by employees in Ramboll (6%). All development is for the financial and commercial benefit of the company, its employees or the communities it serves. Principal offices The Ramboll Foundation is the main owner of the Ramboll in Northern Europe Group A/S and has as its main objective to promote the

Permanent ofﬁces company’s continuance and the long-term development of in the rest of the world the company and its employees.

Independence of external financial sources and obligations allows Ramboll to reinvest profits in operational activities and further development and thus enables the company to pursue long-term strategic goals independently of sudden market fluctuations.

The Foundation secures the company’s commitment to its basic values; high ethical standards and sense of social responsibility. The Foundation endeavors to practice this in a pro-active and advanced manner by engaging in social responsibility commitments aligned with the company’s Danish CVR No. 10160669 Rudersdal Municipality Denmark expansion in new markets, the aim being to foster respect Date of Annual General Meeting: 12 March 2008 and conﬁdence among internal and external stakeholders. Editors: Flemming Bligaard Pedersen, Group CEO, Helene Dunbar, Head of Group Finance and Accounting, Karen Hoby Skanning, Head of Group Communications Layout: Pia Ursin Photographer: Morten Larsen Printers: TrykBureauet. 4 Directors’Facts Report Directors’ Report 5

- Buildings & Design - Infrastructure & Transport - Environment & Nature - Energy & Climate - Industry & Oil/Gas - IT & Telecom - Management & Society

Permanent ofﬁces company’s continuance and the long-term development of in the rest of the world the company and its employees.

Board of Directors Management’s Statement on the Annual Report

Michael Fiorini Minna Korkeaoja The Group Executives and Board of Directors have today MSc (Econ), Chairman, MSc (Econ), Deputy member considered and adopted the Annual Report of Ramboll Group Chairman of the Boards of of the Boards of Directors of A/S for 2007. Investering & Tryghed A/S Mussalon Kaukolämpö Oy, and Egalet A/S, on the Boards Kaukaan Voima Oy and PVO- The Annual Report has been prepared in accordance with the of Unimerco Group A/S, Lämpövoima Oy; member Danish Financial Statements Act. We consider the accounting JL-Fondet and Vesterhavet A/S of the Boards of Directors policies applied appropriate and the accounting estimates made of Porin Prosessivoima Oy, reasonable. Therefore, in our opinion, the Annual Report gives a Peter Højland Vaskiluodon Voima Oy and true and fair view of the financial position at 31 December 2007 MSc (Pol), CEO in Transmedica PVO-Vesivoima Oy of the Group and the Parent Company and of the results of the Holding, Chairman of the Group and Parent Company operations and consolidated cash Boards of Amrop International, Per Nielsen flows for the financial year 1 January - 31 December 2007. Bikuben Fondene and Center MSc (Eng), Member of the We recommend that the Annual Report be adopted at the for Ledelse; Deputy Chair- Boards of European Con- Annual General Meeting. man of Nordicom A/S; on the struction Industry Federation Boards of Danske Bank A/S, (FIEC), Swedish Society of Virum, 27 February 2008 Danisco A/S, Knud Wexøe A/S Civil and Structural Engineers, and Frederiksbergfonden SVR and NCC International Danmark A/S Jon Jacobsen Group Executive Board BCom, Chairman of the Boards Flemming Koch Flemming Bligaard Pedersen, Managing Director of Foss Fabrikker AS, Byggmo BSc (Eng)*, Head of Depart- Søren Holm Johansen AS, Byggmo Eiendom AS, ment, Rambøll Danmark A/S Beate W. Bentzen Bygg Sør AS, Ole Moe Engros AS, Snemyr og Limm Betong- Thomas Krogh pumping A/S, Snemyr & Limm BSc (Eng)*, Head of Depart- Board of Directors Eiendom AS, Tangen Utvik- ment, Rambøll Danmark A/S Group Executive Board Michael Fiorini, Chairman lingsselskap AS, Lauvåsen Peter Højland Utbyggingsselskap AS, Mette Thiel Flemming Bligaard Pedersen Jon Jacobsen Randesund Tomteutvikling MSc, PhD (Struct. Eng)*, MSc (Civil & Struct. Eng), PhD Minna Korkeaoja AS and JJ Holding AS; on the Senior Project Director, (Struct. dynamics), Per Nielsen Boards of Boen AS, Jiffy Inter- Rambøll Danmark A/S, on Managing Director and Group CEO Flemming Koch national AS, Byggmo Holding the Board of Fyns Stiftstidende Ramboll Group A/S Thomas Krogh AS, Johan G. Olsen AS, Johan Mette Thiel G. Olsen Betong AS, Sørlands- Lars Ekström Søren Holm Johansen Lars Ekström kjøtt AS, Sørlandskjøtt MSc (Eng)**, Senior MSc (Econ), Group Chief Market Officer Steinar Birkeland Eiendom AS, Nordic Outdoor Consultant, Ramböll AB, Ramboll Group A/S Reijo Valkeapää Holding AS, Nordic Outdoor Sweden AS, Sølvkroken AS, Orrom Sør Beate W. Bentzen AS, Stabbesteinen AS, Abas Steinar Birkeland Executive MBA, BSc (Econ) Invest AS, Varamedlem of Stif- MSc (Eng)**, Senior Group Chief Operating Officer telsen Bredalsholmen Dokk og Consultant, Rambøll Norge AS Ramboll Group A/S Fartøyvernsenter and Hovden Proshutto Skinka AS; Managing Reijo Valkeapää Director of Lauvåsen Utbyg- MSc (Eng)**, Project Manager, * Elected by the employees in Denmark. ** Elected by the employees in Sweden, gingsselskap AS, JJ Holding Ramboll Finland Oy Norway and Finland, respectively (observer). AS and Abas Invest AS 6 Directors’Board of Directors Report and Executive Board Directors’ Report 7

Board of Directors Management’s Statement on the Annual Report

Michael Fiorini Minna Korkeaoja The Group Executives and Board of Directors have today MSc (Econ), Chairman, MSc (Econ), Deputy member considered and adopted the Annual Report of Ramboll Group Chairman of the Boards of of the Boards of Directors of A/S for 2007. Investering & Tryghed A/S Mussalon Kaukolämpö Oy, and Egalet A/S, on the Boards Kaukaan Voima Oy and PVO- The Annual Report has been prepared in accordance with the of Unimerco Group A/S, Lämpövoima Oy; member Danish Financial Statements Act. We consider the accounting JL-Fondet and Vesterhavet A/S of the Boards of Directors policies applied appropriate and the accounting estimates made of Porin Prosessivoima Oy, reasonable. Therefore, in our opinion, the Annual Report gives a Peter Højland Vaskiluodon Voima Oy and true and fair view of the financial position at 31 December 2007 MSc (Pol), CEO in Transmedica PVO-Vesivoima Oy of the Group and the Parent Company and of the results of the Holding, Chairman of the Group and Parent Company operations and consolidated cash Boards of Amrop International, Per Nielsen flows for the financial year 1 January - 31 December 2007. Bikuben Fondene and Center MSc (Eng), Member of the We recommend that the Annual Report be adopted at the for Ledelse; Deputy Chair- Boards of European Con- Annual General Meeting. man of Nordicom A/S; on the struction Industry Federation Boards of Danske Bank A/S, (FIEC), Swedish Society of Virum, 27 February 2008 Danisco A/S, Knud Wexøe A/S Civil and Structural Engineers, and Frederiksbergfonden SVR and NCC International Danmark A/S Jon Jacobsen Group Executive Board BCom, Chairman of the Boards Flemming Koch Flemming Bligaard Pedersen, Managing Director of Foss Fabrikker AS, Byggmo BSc (Eng)*, Head of Depart- Søren Holm Johansen AS, Byggmo Eiendom AS, ment, Rambøll Danmark A/S Beate W. Bentzen Bygg Sør AS, Ole Moe Engros AS, Snemyr og Limm Betong- Thomas Krogh pumping A/S, Snemyr & Limm BSc (Eng)*, Head of Depart- Board of Directors Eiendom AS, Tangen Utvik- ment, Rambøll Danmark A/S Group Executive Board Michael Fiorini, Chairman lingsselskap AS, Lauvåsen Peter Højland Utbyggingsselskap AS, Mette Thiel Flemming Bligaard Pedersen Jon Jacobsen Randesund Tomteutvikling MSc, PhD (Struct. Eng)*, MSc (Civil & Struct. Eng), PhD Minna Korkeaoja AS and JJ Holding AS; on the Senior Project Director, (Struct. dynamics), Per Nielsen Boards of Boen AS, Jiffy Inter- Rambøll Danmark A/S, on Managing Director and Group CEO Flemming Koch national AS, Byggmo Holding the Board of Fyns Stiftstidende Ramboll Group A/S Thomas Krogh AS, Johan G. Olsen AS, Johan Mette Thiel G. Olsen Betong AS, Sørlands- Lars Ekström Søren Holm Johansen Lars Ekström kjøtt AS, Sørlandskjøtt MSc (Eng)**, Senior MSc (Econ), Group Chief Market Officer Steinar Birkeland Eiendom AS, Nordic Outdoor Consultant, Ramböll AB, Ramboll Group A/S Reijo Valkeapää Holding AS, Nordic Outdoor Sweden AS, Sølvkroken AS, Orrom Sør Beate W. Bentzen AS, Stabbesteinen AS, Abas Steinar Birkeland Executive MBA, BSc (Econ) Invest AS, Varamedlem of Stif- MSc (Eng)**, Senior Group Chief Operating Officer telsen Bredalsholmen Dokk og Consultant, Rambøll Norge AS Ramboll Group A/S Fartøyvernsenter and Hovden Proshutto Skinka AS; Managing Reijo Valkeapää Director of Lauvåsen Utbyg- MSc (Eng)**, Project Manager, * Elected by the employees in Denmark. ** Elected by the employees in Sweden, gingsselskap AS, JJ Holding Ramboll Finland Oy Norway and Finland, respectively (observer). AS and Abas Invest AS 8 Directors’Independent Report Auditor’s Report Directors’ Report 9 Innovative Independent Auditor’s Report engineering –

To the Shareholders of Report based on our audit. provide a basis for our audit our way of Ramboll Group A/S We conducted our audit in ac- opinion. We have audited the An- cordance with Danish Auditing nual Report of Ramboll Group Standards. Those Standards Our audit has not resulted in A/S for the financial year 1 require that we comply with any qualification. January-31 December 2007, ethical requirements and pages 1-14 (except for holistic plan and perform the audit to Opinion indicators on page 10) and obtain reasonable assurance In our opinion, the Annual imagining new pages 52-69, which comprises whether the Annual Report is Report gives a true and fair Management’s Statement, free from material misstate- view of the financial position Director’s Report, income ment. at 31 December 2007 of the statement, balance sheet, Group and the Parent Com- statement of changes in equity, An audit involves performing pany and of the results of the accounting policies and notes procedures to obtain audit Group and Parent Company ideas for the Group as well as for evidence about the amounts operations and consolidated the Parent Company and con- and disclosures in the Annual cash flows for the financial year solidated cash flow statement. Report. The procedures 1 January-31 December 2007 The Annual Report is prepared selected depend on the in accordance with the Danish in accordance with the Danish auditor’s judgment, including Financial Statements Act. Financial Statements Act. the assessment of the risks of material misstatement of the Copenhagen, Management’s Annual Report, whether due 27 February 2008 Responsibility for the to fraud or error. In making Annual Report those risk assessments, the PricewaterhouseCoopers Management is responsible auditor considers internal Statsautoriseret for the preparation and fair control relevant to the Entity’s Revisionsaktieselskab presentation of the Annual preparation and fair presenta- Report in accordance with tion of the Annual Report in Jesper Edelbo the Danish Financial State- order to design audit proce- State Authorised ments Act. This responsibility dures that are appropriate in Public Accountant includes: designing, imple- the circumstances, but not for menting and maintaining the purpose of expressing an Bo Schou-Jacobsen internal control relevant to the opinion on the effectiveness of State Authorised preparation and fair presenta- the Entity’s internal control. An Public Accountant tion of an Annual Report that audit also includes evaluating is free from material misstate- the appropriateness of ac- ment, whether due to fraud or counting policies used and the error; selecting and applying reasonableness of accounting appropriate accounting poli- estimates made by Manage- cies; and making accounting ment, as well as evaluating estimates that are reasonable the overall presentation of the in the circumstances. Annual Report.

Auditor’s Responsibility We believe that the audit Our responsibility is to express evidence we have obtained is an opinion on the Annual sufﬁcient and appropriate to 8 Directors’Independent Report Auditor’s Report Directors’ Report 9 Innovative Independent Auditor’s Report engineering –

Auditor’s Responsibility We believe that the audit Our responsibility is to express evidence we have obtained is an opinion on the Annual sufﬁcient and appropriate to 10 Directors’Key statistics Report Directors’ Report 11

Key statistics

Key ﬁgures and ﬁnancial ratios [audited] 2007 2006 2005 2004 2003

Income statement, DKK million Revenue 4,739.6 3,945.5 3,512.6 3,165.9 2,641.4 Operating profit 347.4 254.0 204.0 177.3 108.8 Profit before tax 315.1 244.7 192.7 155.1 81.6 Profit for the year 218.6 157.3 140.3 106.8 49.8

Balance sheet, DKK million Total assets 3,010.0 2,102.0 1,814.8 1,726.8 1,801.4 Total equity 927.9 757.4 611.2 475.5 373.8

Cash ﬂow, DKK million Acqusitions of subsidiaries and associates -359.7 -51.7 14.8 12.4 351.9 Investment in tangible assets -60.4 -59.5 48.1 34.3 34.3

Employees Number of employees, end of period 6,964 5,346 4,451 4,168 4,043 Number of full time employee equivalents 6,385 4,947 4,224 3,963 4,050

Financial ratios in % EBITA margin 8.5 7.3 6.8 6.7 - Operating margin 7.3 6.4 5.8 5.6 4.1 A home for elephants Return on invested capital (ROIC) 40.6 35.0 28.6 24.0 - “There is very limited Return on equity (ROE) 25.9 22.8 25.4 25.2 14.3 international experience in Return on capital employed (ROCE) 32.9 31.0 26.9 21.9 17.3 building elephant stables Cash conversion ratio 75.3 101.2 75.6 75.7 158.0 and this structure is far more Equity ratio, % 30.8 36.5 33.7 27.5 21.0 advanced than any of the existing environments. A fundamental demand for Holistic indicators [unaudited] 2007 2006 the structure is its enormous strength requirement. Male Values and leadership elephants weigh up to 5.5 Proportion of management who has participated in management training tonnes, meaning that all programmes since their appointment, % 74 69 walls have to be able to resist a horizontal pressure Human assets of up to 140 KN.” Average age of management 44.9 47.3 - Gerner Michael Kragh Proportion of management who is female, % 15 12 Pedersen, Chief Super- intendent Engineer for the Consultancy new elephant house in Public sector revenue, % 38 47 Copenhagen Zoo. Private sector revenue, % 62 53 10 Directors’Key statistics Report Directors’ Report 11

Key statistics

Key ﬁgures and ﬁnancial ratios [audited] 2007 2006 2005 2004 2003

Balance sheet, DKK million Total assets 3,010.0 2,102.0 1,814.8 1,726.8 1,801.4 Total equity 927.9 757.4 611.2 475.5 373.8

Cash ﬂow, DKK million Acqusitions of subsidiaries and associates -359.7 -51.7 14.8 12.4 351.9 Investment in tangible assets -60.4 -59.5 48.1 34.3 34.3

Employees Number of employees, end of period 6,964 5,346 4,451 4,168 4,043 Number of full time employee equivalents 6,385 4,947 4,224 3,963 4,050

Directors’ Report

2007 was a successful year Mission Main activities The Group is aiming to be- At the end of the year, cash solutions to our customers for Ramboll. Not only did we Our assets are knowledge and Ramboll’s organisation has come a truly European player and bank balances totalled on a scale larger than before. grow by expanding our core experience. We provide con- a home market presence in within the engineering market DKK 415.8 million (2006: 246.3 Spearheading competence business, we also made several sultancy and services within Denmark, Sweden, Norway, in the foreseeable future. million). Interest-bearing within the rapidly growing strategic acquisitions as part engineering, management and Finland and UK. In addition Ramboll Group A/S is the liabilities amounted to DKK global market for high-rise of our drive towards becom- IT in an international context. Ramboll trades in Russia, the parent company of the Group 459.2 million (2006: 128.8 mil- buildings has now become ing one of Europe’s premier Our solutions contribute to- Baltics and the Middle and Far with a 100% shareholding in lion). The total cash flow was part of Ramboll. With the pur- engineering consultancies. wards better living and work- East. Ramboll provides engineer- the main subsidiaries. DKK 169.5 million (2006: 91.7 chase of whitbybird we have ing conditions for people and ing, consultancy, product million). The equity ratio at the obtained a strong representa- We also succeeded in attract- sustainable development of development and operation end of the year was 31% (2006: tion in the UK and have also ing more highly qualified and society. We scrutinise our busi- services within the areas of: Development during the year 36%). Shareholders’ equity strengthened our presence in motivated employees to parti- ness performance to continu- Buildings, Infrastructure, Revenue grew from DKK amounted to DKK 927.9 million the Middle East and India. cipate in this exciting journey ously match customer needs Industrial processes, Energy, 3,945.5 million in 2006 to (2006: 757.4 million). and at the same time main- and we develop our compe- Water and Environment, Tele- DKK 4,739.6 million in 2007, We expanded and deepened tained good staff retention by tence areas accordingly. communications, Management an increase of 20%. This was Investments in tangible our expertise in the fields of enhancing our training, career and IT. The Group has a partly organic, generated from assets amounted DKK 60.4 electrical and automation paths and benefit packages. strategy for growth focusing growth in the business areas million (2006: 59.5 million). planning by acquiring Jyvästek on profitability as well as the of Buildings, Energy and Man- Investments in acquisitions of Oy, a Finnish company, along attraction and retention of agement and partly through companies reached DKK 359.7 with their 110 employees. employees. acquisitions made during the million (2006: 51.7 million). Ramboll has also established year. Operating profit for the a laboratory services company year increased from DKK 254.0 During 2007 we concluded a in Finland, Ramboll Analytics million to DKK 347.4 million, an new five-year multi-currency Ltd., by merging Measure- improvement of 37%, giving loan agreement with Nordea ment and Laboratory Services a profit margin of 7.3% (2006: and Danske Bank. The facility in Ramboll Finland and Paavo 6.4%). provides up to DKK 1,000 mil- Ristola Ltd. with the Research lion together with an overdraft Laboratory of Lahti Science Investments in acquisitions facility of DKK 100 million and Business Park Plc., and during the year affected net fi- and creates opportunities for specialises in environmental nance costs of DKK 32 million, increased acquisitive growth. measurements and analysis. The breakdown on revenue in 2007 was: an increase of 23 million from 2006. Cash generated by the During the summer Ramboll In Norway we have acquired business increased to DKK acquired whitbybird Ltd., a Feste, a landscape design Revenue 2007 301.7 million (2006: DKK 292.6 well-known British engineering company and Aros AS, a million) with further improve- design company, which em- well-known design company ments evident in the Group’s ploys more than 650 people with expertise in area plan- working capital management. working from offices in the UK, ning. In Denmark Ramboll has Gross revenue in service areas, % 2007 Gross revenue in geographical areas, % 2007 Italy, the United Arab Emirates acquired Attractor A/S, whose Buildings 31 Denmark 31.6 Due to both the organic and and India. A highly respected activities support Ramboll’s Infrastructure 22 Sweden 19.0 acquisitive growth in 2007 company in the UK, whitbybird strategic focus on attracting Energy 14 Norway 19.2 Ramboll has moved from be- has leading-edge know-how in and retaining employees. Water and Environment 11 Finland 9.6 Management 11 UK 4.2 ing a Nordic based consul- high-rise buildings and has re- Attractor’s core services are Telecommunications 5 Rest of Europe, incl Russia 6.4 tancy to becoming a European ceived numerous distinctions organisational management Information technology 4 Rest of World 10.0 player and from 5,346 employ- for its innovations and working and personnel, including lead- Industrial processes 2 ees to 6,964. environments. This acquisition ership training, coaching and enables Ramboll to offer total project management. 12 Directors’ Report Directors’ Report 13

Directors’ Report

Providing multi-disciplinary services “Our customers increasingly want to appoint multi-disciplinary companies. They find it a significant advantage to have all the required services provided by the same company and that the coordina- tion of such services is carried out internally. The merger of Ramboll and whitbybird has benefited our customers by broadening the range of services we can offer.”

-Agnes Koltay, Associate Director of Façades in Dubai.

In addition to these acquisi- the interest rate exposure on tinuous training and employee tions we have established all its debt through a policy share ownership schemes. companies in both Poland of using fixed rate loans and and in Estonia to support our interest rate swap agreements. expansion in this region. Environmental impact As Ramboll is an engineering Currency Rate Risk consultancy, the operations of Employees The Group aims to minimise our own business do not affect At the end of 2007, Ramboll the currency risk exposure the environment adversely. employed 6,964 people by the fact that payments However, in order to ensure (2006: 5,346) or 6,385 full time received and made in each that all staff have an awareness equivalents (2006: 4,947). country are primarily per- of the impact on the environ- formed in local currency. When ment of their actions in the Our employees are our most significant amounts in foreign office, we have an active policy important assets. They are currencies are involved, cur- of preferring environmentally innovative and resourceful, rency exposure is hedged friendly products when making experienced and professional. through forward contracts on procurements. As we continue to grow, we the foreign exchange market. are dedicated to advancing We also actively encourage our employees’ potential. We and engage in projects where encourage and sponsor pro- Credit risk the environmental impact is fessional and personal growth The Group aims to limit credit considered and monitored and through continuing education, risk by assessing new custom- we have started on implement- seminar attendance, industry ers with our Business Integrity ing Corporate Social Respon- related group affiliations, com- Management System (BIMS) sibility reporting as part of our munity and city government and by requiring payments in monthly procedures. involvement and focus group advance on projects. Ramboll participation. A special focus has methods and procedures has been invested in designing to constantly monitor the Events after the reporting career paths and opportunities economic status of projects, period for careers. ensuring adherence to No events material to the budgets. In addition we have Annual Report have occurred implemented quality control after the reporting period. Risk management systems to monitor the total At the year end the Group had project quality from start to net interest bearing debts of completion. Board of Directors DKK 43.4 million comprising Ramboll’s Group Board of cash of DKK 415.8 million and Directors is composed of gross debt of DKK 459.2 mil- Staff retention risk professionals with a broad mix lion. The cash is held mainly in The Group aims to retain of experience. See page 6 for DKK accounts, although cur- staff and to be an employer a presentation of the board rent accounts are also held in of choice for new graduates. members. EUR, SEK, GBP and NOK. Most This is done by an active of the debt is denominated in programme of recruitment DKK. amongst undergraduates and Dividend new graduates, by offering The Group Board of Directors flexible working conditions proposes a dividend of DKK Interest Rate Risk and other benefits such as 26,250 million. The Group aims to minimise pensions, health care, con- 14 Directors’ Report Directors’ Report 15

-Agnes Koltay, Associate Director of Façades in Dubai.

offices are being projected in compared to the year before. consultancy to becoming a Oslo, Helsinki and London. Where private sector revenue European player, we changed In both Stockholm and in 2006 represented 53% of from distinguishing between Copenhagen new premises the total income, in 2007 it in- Nordic and international activi- are already under construc- creased to 62%. Subsequently, ties to looking at our European tion. In Stockholm an attractive public sector revenue in 2006 customers versus those in the city centre location is being was 47%, but decreased to rest of the world. The results transformed into a modern 38% in 2007. for 2007 show that 93% of our Holistic Report eight-storey building to cater customer revenue is European, for the diversity of facility In 2007, Buildings became the leaving 7% generated from requirements of a large design significantly largest market customers in the rest of the and engineering consultancy. segment in Ramboll, reflect- world. Customer satisfac- This is due for completion in ing the influence of Ramboll tion is high in Ramboll with 2008. In Denmark a specially Whitbybird in the second an average score of 4.4 on a designed complex is being half of the year. Energy also scale from 1 to 5, where 1 is built in Orestad, Copenhagen, saw a substantial increase as “poor” and 5 is “excellent”; Holistic reporting principles Strategic processes educational standards of our close to the international a consequence of Ramboll this is a slight increase from This holistic reporting is based 2007 saw the establishment employees. airport. It is scheduled for being able to provide a full 4.3 in 2006. 972 customers on the nine key criteria in of Oil & Gas as an indepen- opening in the spring of 2010. spectrum of energy services completed customer surveys Ramboll’s enterprise model: dent and very successful Certain changes from previous All new principal offices will be and solutions from oil and gas, compared to 1,094 the year Values and leadership, stra- business unit. This, together years have been noticeable in laid out in a way that allows waste-to-energy to wind- and before. Of those who replied tegic processes, human and with our strategic acquisitions 2007: there has been a slight for new possibilities for solar power. Thus, we have almost 92% would use Ramboll structural assets, consultancy, in the UK, Finland, Norway decrease from 3% to 2% in knowledge-sharing as well as been capable of responding again for similar projects customer results, employee and Denmark, called for an the number of people holding hosting customer and student across-the-board to increasing and 8% would consider the and society results and eco- evaluation of our operating PhDs, which is due to a change events. market needs for sustainable possibility of using Ramboll nomic results. model. Consequently, it was in the employee mix. However, developments. again. However, efforts will be decided to initiate an opera- employees with postgraduate made in 2008 to harmonise tional alignment project in the professional qualifications Consultancy standards for customer surveys Values and leadership autumn, the purpose of which appear for the first time and The split of revenue between Customer results across the organisation and to It is Ramboll’s ambition to was to integrate the organisa- account for 5% of total staff. the private and public sectors As a consequence of our move improve response rates. always promote professional tion across all levels and to Many of our new colleagues in changed significantly in 2007 from being a Nordic based and value-based leadership maximise knowledge-sharing Ramboll Whitbybird fall into at every organisational level and business opportunities this category as postgraduate in the company. A significant in order to consolidate our qualifications other than PhDs development in 2007 was the strategic platform for further are particularly commonplace increase in completed man- growth. The implementation among British professionals. agement training programmes of the new organisational Despite an overheated labour from 69% in 2006 to 74% in model was initiated on 1 market for engineers and the 2007. This may be partly due January 2008. acquisition and merger activi- to the success of the Ramboll ties in 2007, employee turn- Academy in Denmark, Sweden over for 2007 increased only and Norway. Preparations for Human assets marginally from 11% to 12%. a re-launch of the Ramboll The December 2007 head- Academy at Group level com- count exceeded that of the menced in 2007 and the first previous year by more than Structural assets Talent Pipeline Programme 1,600 people which naturally The purpose of our structural Revenue per service area Education with international assignments had an influence on the human assets is that they manage will be ready for roll out short- resources statistics. Despite technology and information ly. The large intake of new the fact that the average age efficiently in order to support employees from different of the permanent employees the production and sharing Revenue per service area, % 2007 2006 2007 2006 cultural backgrounds also in the company remains un- of knowledge undertaken Buildings 31 27 accentuated the need for changed at just over 40 years by the organisation. In 2007 Infrastructure 22 24 Educational background, % leadership training in Ramboll old, the average age of the the focus was on providing a Energy 14 10 PhD or Post Doctorate 2 3 focusing on anchoring our organisation’s management common web-based platform Water & Environment 11 13 Postgraduate professional qualification 5 - Management 11 10 Master’s Degree 36 38 company’s value set and has decreased from 47 in 2006 for presenting the extent and Telecommunications 5 7 Bachelor’s Degree or Diploma 32 33 philosophy with all newcomers to 45 in 2007. The proportion diversity of Ramboll to the out- Information technology 4 5 Other 25 27 to the organisation. The propor- of female managers has side world. This work is almost Industrial processes 2 5 tion of managerial placements increased from 12% in 2006 to completed and new Ramboll Type of degree, % being made internally increased 15% in 2007. websites will be launched this Science, engineering 68 - Science, social, political or economics 9 - from 49% in 2006 to 59% in 2007. spring. Arts/humanities 3 - Ramboll is a knowledge- Other 20 - based company which is why In response to our company’s we constantly monitor the rapid growth, new principal 16 Directors’Holistic Report Report [unaudited] Directors’ Report 17

offices are being projected in compared to the year before. consultancy to becoming a Oslo, Helsinki and London. Where private sector revenue European player, we changed In both Stockholm and in 2006 represented 53% of from distinguishing between Copenhagen new premises the total income, in 2007 it in- Nordic and international activi- are already under construc- creased to 62%. Subsequently, ties to looking at our European tion. In Stockholm an attractive public sector revenue in 2006 customers versus those in the city centre location is being was 47%, but decreased to rest of the world. The results transformed into a modern 38% in 2007. for 2007 show that 93% of our Holistic Report eight-storey building to cater customer revenue is European, for the diversity of facility In 2007, Buildings became the leaving 7% generated from requirements of a large design significantly largest market customers in the rest of the and engineering consultancy. segment in Ramboll, reflect- world. Customer satisfac- This is due for completion in ing the influence of Ramboll tion is high in Ramboll with 2008. In Denmark a specially Whitbybird in the second an average score of 4.4 on a designed complex is being half of the year. Energy also scale from 1 to 5, where 1 is built in Orestad, Copenhagen, saw a substantial increase as “poor” and 5 is “excellent”; Holistic reporting principles Strategic processes educational standards of our close to the international a consequence of Ramboll this is a slight increase from This holistic reporting is based 2007 saw the establishment employees. airport. It is scheduled for being able to provide a full 4.3 in 2006. 972 customers on the nine key criteria in of Oil & Gas as an indepen- opening in the spring of 2010. spectrum of energy services completed customer surveys Ramboll’s enterprise model: dent and very successful Certain changes from previous All new principal offices will be and solutions from oil and gas, compared to 1,094 the year Values and leadership, stra- business unit. This, together years have been noticeable in laid out in a way that allows waste-to-energy to wind- and before. Of those who replied tegic processes, human and with our strategic acquisitions 2007: there has been a slight for new possibilities for solar power. Thus, we have almost 92% would use Ramboll structural assets, consultancy, in the UK, Finland, Norway decrease from 3% to 2% in knowledge-sharing as well as been capable of responding again for similar projects customer results, employee and Denmark, called for an the number of people holding hosting customer and student across-the-board to increasing and 8% would consider the and society results and eco- evaluation of our operating PhDs, which is due to a change events. market needs for sustainable possibility of using Ramboll nomic results. model. Consequently, it was in the employee mix. However, developments. again. However, efforts will be decided to initiate an opera- employees with postgraduate made in 2008 to harmonise tional alignment project in the professional qualifications Consultancy standards for customer surveys Values and leadership autumn, the purpose of which appear for the first time and The split of revenue between Customer results across the organisation and to It is Ramboll’s ambition to was to integrate the organisa- account for 5% of total staff. the private and public sectors As a consequence of our move improve response rates. always promote professional tion across all levels and to Many of our new colleagues in changed significantly in 2007 from being a Nordic based and value-based leadership maximise knowledge-sharing Ramboll Whitbybird fall into at every organisational level and business opportunities this category as postgraduate in the company. A significant in order to consolidate our qualifications other than PhDs development in 2007 was the strategic platform for further are particularly commonplace increase in completed man- growth. The implementation among British professionals. agement training programmes of the new organisational Despite an overheated labour from 69% in 2006 to 74% in model was initiated on 1 market for engineers and the 2007. This may be partly due January 2008. acquisition and merger activi- to the success of the Ramboll ties in 2007, employee turn- Academy in Denmark, Sweden over for 2007 increased only and Norway. Preparations for Human assets marginally from 11% to 12%. a re-launch of the Ramboll The December 2007 head- Academy at Group level com- count exceeded that of the menced in 2007 and the first previous year by more than Structural assets Talent Pipeline Programme 1,600 people which naturally The purpose of our structural Revenue per service area Education with international assignments had an influence on the human assets is that they manage will be ready for roll out short- resources statistics. Despite technology and information ly. The large intake of new the fact that the average age efficiently in order to support employees from different of the permanent employees the production and sharing Revenue per service area, % 2007 2006 2007 2006 cultural backgrounds also in the company remains un- of knowledge undertaken Buildings 31 27 accentuated the need for changed at just over 40 years by the organisation. In 2007 Infrastructure 22 24 Educational background, % leadership training in Ramboll old, the average age of the the focus was on providing a Energy 14 10 PhD or Post Doctorate 2 3 focusing on anchoring our organisation’s management common web-based platform Water & Environment 11 13 Postgraduate professional qualification 5 - Management 11 10 Master’s Degree 36 38 company’s value set and has decreased from 47 in 2006 for presenting the extent and Telecommunications 5 7 Bachelor’s Degree or Diploma 32 33 philosophy with all newcomers to 45 in 2007. The proportion diversity of Ramboll to the out- Information technology 4 5 Other 25 27 to the organisation. The propor- of female managers has side world. This work is almost Industrial processes 2 5 tion of managerial placements increased from 12% in 2006 to completed and new Ramboll Type of degree, % being made internally increased 15% in 2007. websites will be launched this Science, engineering 68 - Science, social, political or economics 9 - from 49% in 2006 to 59% in 2007. spring. Arts/humanities 3 - Ramboll is a knowledge- Other 20 - based company which is why In response to our company’s we constantly monitor the rapid growth, new principal 18 Directors’Holistic Report Report [unaudited] Directors’ Report 19

to our two companies joining Ramboll in society and our Employee results forces. performance in relation to Continuous education and corporate social responsibility training are important para- 273 out of 495 employees in and sustainable development meters in order to offer both Ramboll Whitbybird complet- seriously through our work the best service to our custom- ed the survey. To the question with the ten principles defined ers as well as create job satis- of whether they understood by the UN Global Compact. faction. In 2007 we increased the business rationale behind We are involved in climate our focus on attracting and the merger 61% agreed that issues and we focus on carbon retaining employees by making they did, 9% strongly agreed, dioxide emission manage- it the overall theme at our while 22% were neutral and 6% ment and clean technologies annual Manager Meeting. In disagreed. 58% felt that the in all our projects. Some of 2007 71% of education and new situation would provide our business units have set up training was professional significant business opportu- task forces to define principles development and project nities, 21% strongly agreed, and coordinate climate impact related while 29% was mana- while 18% were neutral and 3% documentation in relation to gement training and personal disagreed. projects within all our service development. areas and one business unit The average absence due to already provides such docu- We measure employee satis- illness decreased slightly from mentation. An important proj- faction yearly and the general 2.8% in 2006 to 2.4% in 2007. ect in 2008 will be to organise satisfaction index for 2007 In 2008 we are looking to focus this work to be Ramboll-wide was 3.8, as compared to 3.7 in on: One company leadership in order to provide aligned 2006. The response rate, how- training, talent management, climate impact documentation ever, decreased from 82.4% building an infrastructure to for all our projects. in 2006 to 78.6% in 2007. As support internal mobility and Ramboll Whitbybird became recruitment and induction of Business ethics and integrity part of Ramboll too late to new employees. are other continuous priorities participate in the Ramboll survey, for Ramboll. We have worked they conducted their own with Business Integrity Mana- survey with a view to how their Society results gement System (BIMS) in our employees had responded We take the perception of business units for some years.

Employee Satisfaction Index [ESI]

Creating landmark Response rate % ESI* buildings Response rate and ESI 2007 Employee Satisfaction 2007 2006 2007 2006 ”51 Lime Street has been an exciting but challenging 100 4,0 Total Ramboll Group ** 79 82 3.8 3.7 project with innovative 95 Ramboll Denmark 78 84 3.8 3.8 thinking and successful Ramboll Sweden 77 79 3.7 3.7 solutions. Lime Street has 90 3,9 Ramboll Norway 82 85 3.7 3.7 been the largest project 85 Ramboll Finland 79 83 3.7 3.6 that I have worked on, and 80 3,8 Ramboll Management 84 78 3.8 3.8 the scale of it is incredible. Ramboll Informatik 85 89 3.7 3.7 It is a landmark building 75 Ramboll Oil & Gas 72 - 3.7 - within the centre of London 70 3,7 and has ignited an interest in high-rise buildings, which 65 * The Employee Satisfaction Index (ESI) is based on an anonymous electronic has lead to a number of employee survey. The survey contains 15 regular questions about the employee’s 60 3,6 work situation. Index figures from the survey are calculated on a scale from 1 other major projects within Ramboll Ramboll Ramboll Ramboll Ramboll Ramboll Ramboll Ramboll Group Denmark Sweden Norway Finland Management Informatik Oil&Gas to 5, where 1 stands for ”dissatisfied” and 5 stands for “highly satisfied”. London and the UK.” Response rate (left axis) ** This combined Group result is a weighted average of the business unit results. The weight is calculated according to the number of employees in the business – James Toon, Employee Satisfaction Index, ESI (right axis) unit. Associate, Ramboll Whitbybird. 18 Directors’Holistic Report Report [unaudited] Directors’ Report 19

Employee Satisfaction Index [ESI]

Creating landmark Response rate % ESI* buildings Response rate and ESI 2007 Employee Satisfaction 2007 2006 2007 2006 ”51 Lime Street has been an exciting but challenging 100 4,0 Total Ramboll Group ** 79 82 3.8 3.7 project with innovative 95 Ramboll Denmark 78 84 3.8 3.8 thinking and successful Ramboll Sweden 77 79 3.7 3.7 solutions. Lime Street has 90 3,9 Ramboll Norway 82 85 3.7 3.7 been the largest project 85 Ramboll Finland 79 83 3.7 3.6 that I have worked on, and 80 3,8 Ramboll Management 84 78 3.8 3.8 the scale of it is incredible. Ramboll Informatik 85 89 3.7 3.7 It is a landmark building 75 Ramboll Oil & Gas 72 - 3.7 - within the centre of London 70 3,7 and has ignited an interest in high-rise buildings, which 65 * The Employee Satisfaction Index (ESI) is based on an anonymous electronic has lead to a number of employee survey. The survey contains 15 regular questions about the employee’s 60 3,6 work situation. Index figures from the survey are calculated on a scale from 1 other major projects within Ramboll Ramboll Ramboll Ramboll Ramboll Ramboll Ramboll Ramboll Group Denmark Sweden Norway Finland Management Informatik Oil&Gas to 5, where 1 stands for ”dissatisfied” and 5 stands for “highly satisfied”. London and the UK.” Response rate (left axis) ** This combined Group result is a weighted average of the business unit results. The weight is calculated according to the number of employees in the business – James Toon, Employee Satisfaction Index, ESI (right axis) unit. Associate, Ramboll Whitbybird. 20 Directors’Holistic Report Report [unaudited] Directors’ Report 21 Economic results Sustainable Net profit, DKK million 2007 2006

Proﬁt before tax 315 245 Employees annual bonuses 96 90 Financial expenses 60 20 Net proﬁt 471 355 solutions –

Invested capital (1 January) DKK million 2007 2006

Total equity 757 611 Economic results, DKK million Long-term liabilities 133 193 Provisions for deferred tax 86 109 250 2007 2006 Provisions for pensions 50 46 creating strong 450 Dividend -26 -5 400 Invested capital 1,000 954 350

300 Economic Profit (EP) DKK million 2007 2006 250 Required return on invested capital 10% 10% 200 ties with Required return on invested capital 100 95 150 Economic Profit (Net Profit - return on capital) 371 260 100 Net profit Part of EP used for employees’ annual bonuses 96 90 50 Return on invested capital Part of EP to shareholders 0 Economic Profit (EP) and for company development 275 170 tomorrow

The principles were developed Economic results by way of either a dividend or The Foundation donated DKK according to the FIDIC guide- Our economic profit is the reinvested for the company’s 470,000 to a cross-organisa- lines for our business segment genuine economic value further development). tional development project and are reflected in our own created by our company. It is investigating low energy Code of Conduct and Code based on the principle that houses and renewable energy of Practice. A full implementa- the operating profit of the Donations by the Ramboll sources in buildings. This pro- tion of the BIMS system across year exceeds the expected Foundation ject will ensure that Ramboll is Ramboll is in progress with a return on invested capital. It In 2007, the Ramboll Founda- at the cutting-edge of this new 45% completion rate by is calculated as the difference tion made several donations. dimension of construction. December 2007. In 2007 we between the year-end results The Foundation granted finan- also introduced a whistle- measured by net profit (profit cial support for a three-year The Foundation also con- blower function in Ramboll in before tax, financing costs and research project on the “Sus- tributed DKK 100,000 to the order to provide all employees annual employee bonuses) tainability of community driven Danish fundraising project, with the opportunity to report and the required rate of return initiatives to target arsenic “Danmarks Indsamling”, where on possible illegal acts and on capital invested at the safe groundwater as a drinking the 12 largest humanitarian unethical occurrences related beginning of the year – water source in Bangladesh”. organisations in Denmark to the company’s business currently set at 10%. Here, Ramboll in Sweden and joined forces to raise money practices. The whistleblower Denmark are running predic- for children in Africa. function is a direct link to a In Ramboll the economic tive groundwater simulations corporate e-mail box moni- profit is shared between the in order to ascertain whether tored only by our Group CEO. employees (distributed by or not targeted groundwater way of an annual bonus) and bearing sediments will remain the shareholders (distributed free of arsenic over time. 20 Directors’Holistic Report Report [unaudited] Directors’ Report 21 Economic results Sustainable Net profit, DKK million 2007 2006

Proﬁt before tax 315 245 Employees annual bonuses 96 90 Financial expenses 60 20 Net proﬁt 471 355 solutions –

Invested capital (1 January) DKK million 2007 2006

The principles were developed Economic results by way of either a dividend or The Foundation donated DKK according to the FIDIC guide- Our economic profit is the reinvested for the company’s 470,000 to a cross-organisa- lines for our business segment genuine economic value further development). tional development project and are reflected in our own created by our company. It is investigating low energy Code of Conduct and Code based on the principle that houses and renewable energy of Practice. A full implementa- the operating profit of the Donations by the Ramboll sources in buildings. This pro- tion of the BIMS system across year exceeds the expected Foundation ject will ensure that Ramboll is Ramboll is in progress with a return on invested capital. It In 2007, the Ramboll Founda- at the cutting-edge of this new 45% completion rate by is calculated as the difference tion made several donations. dimension of construction. December 2007. In 2007 we between the year-end results The Foundation granted finan- also introduced a whistle- measured by net profit (profit cial support for a three-year The Foundation also con- blower function in Ramboll in before tax, financing costs and research project on the “Sus- tributed DKK 100,000 to the order to provide all employees annual employee bonuses) tainability of community driven Danish fundraising project, with the opportunity to report and the required rate of return initiatives to target arsenic “Danmarks Indsamling”, where on possible illegal acts and on capital invested at the safe groundwater as a drinking the 12 largest humanitarian unethical occurrences related beginning of the year – water source in Bangladesh”. organisations in Denmark to the company’s business currently set at 10%. Here, Ramboll in Sweden and joined forces to raise money practices. The whistleblower Denmark are running predic- for children in Africa. function is a direct link to a In Ramboll the economic tive groundwater simulations corporate e-mail box moni- profit is shared between the in order to ascertain whether tored only by our Group CEO. employees (distributed by or not targeted groundwater way of an annual bonus) and bearing sediments will remain the shareholders (distributed free of arsenic over time. 22 DesignDirectors’ within Report architecture and landscaping Directors’ Report 23

51 Lime Street, London This high-rise building, also called the Willis Building, was designed by the British architect Norman Foster. It is a signiﬁcant addition to the London skyline, becoming the fourth tallest building Integrating aesthetics in the City after Tower 42, 30 St Mary Axe and CityPoint. and functionality

Newcomers to Ramboll have broadened our portfolio of services, particularly within the ﬁelds of architecture and landscaping. Norwegian AROS has added additional expertise in architecture while Feste Lillehammer has strengthened our services in landscape design in Norway. British Ramboll Whitbybird has expanded our engineering design competences with their expertise in façades and high-rise buildings. 22 DesignDirectors’ within Report architecture and landscaping Directors’ Report 23

Newcomers to Ramboll have broadened our portfolio of services, particularly within the ﬁelds of architecture and landscaping. Norwegian AROS has added additional expertise in architecture while Feste Lillehammer has strengthened our services in landscape design in Norway. British Ramboll Whitbybird has expanded our engineering design competences with their expertise in façades and high-rise buildings. 24 Directors’Design within Report architecture and landscaping Directors’ Report 25

51 Lime Street, London Foster’s design of the building was originally based on the interlocking shells of a prawn. The two steps of the building help it relate more easily to the surrounding buildings.

51 Lime Street, London The building is designed to reduce water consumption by 30%, resulting in a daily water use of less than 20 L per full time employee. This is being achieved through a number of measures, including rainwater collection.

Realising Norman Foster’s Ramboll has also helped realise Reviving Hämeenlinna between the church and the designs another design by Norman Square and Church Park, square as well as the pavilions In London, Ramboll Whitby- Foster, the new elephant Finland were restored, and one of the bird delivered the structural house in Copenhagen Zoo. Hämeenlinna Church Park has regenerated pavilions was design and construction of 51 This building is setting new always been a popular haven turned into a café. Further- Lime Street, created by the standards for animal welfare for city residents due to its more, the park was refitted British architect Lord Foster. and husbandry in inner city central location. It significantly with cast-iron fences and This office development, pro- zoos, being designed with improves and refreshes the flower pots resembling those viding London with 50,000 m2 regard to the social patterns of atmosphere of the city centre. used at the beginning of the of new office space, consists of the elephant as well as a desire The church “Pantheon of the 20th century. However, the two towers linked by a double to bring a sense of light and North”, located in the Church park was also updated with storey basement. The existing openness. Such a combina- Park is Hämeenlinna’s oldest new technology. All water basement has been re-used to tion of strong animals and the building commissioned in pipes, including rainwater house an auditorium and gym- desire to maintain openness 1798. Ramboll provided the and waste water drains, were nasium as well as car-parking. has posed several technical overall planning for a renova- renewed and the park was also Each of the towers has a cen- challenges. For example, the tion of the historic Square and fitted with an irrigation system. tral core that is sufficiently ro- concrete columns in the struc- Church Park of Hämeenlinna The revived park won the bust to provide interior space ture have to appear as light as City in Finland. Environmental Architectural that is completely column-free. possible, while still being able Design of the Year Award in The largest tower is 29 storeys to resist the pressure of an The starting point for the October 2007. tall and is stepped back to elephant whose trunk is able renovation work was to restore create terraces at two levels. to pull with a force of 3 tonnes. the park structure to its This spectacular structure will original state as designed by be opened in 2008. Armas Lindgren in 1911. Paths 24 Directors’Design within Report architecture and landscaping Directors’ Report 25

Realising Norman Foster’s Ramboll has also helped realise Reviving Hämeenlinna between the church and the designs another design by Norman Square and Church Park, square as well as the pavilions In London, Ramboll Whitby- Foster, the new elephant Finland were restored, and one of the bird delivered the structural house in Copenhagen Zoo. Hämeenlinna Church Park has regenerated pavilions was design and construction of 51 This building is setting new always been a popular haven turned into a café. Further- Lime Street, created by the standards for animal welfare for city residents due to its more, the park was refitted British architect Lord Foster. and husbandry in inner city central location. It significantly with cast-iron fences and This office development, pro- zoos, being designed with improves and refreshes the flower pots resembling those viding London with 50,000 m2 regard to the social patterns of atmosphere of the city centre. used at the beginning of the of new office space, consists of the elephant as well as a desire The church “Pantheon of the 20th century. However, the two towers linked by a double to bring a sense of light and North”, located in the Church park was also updated with storey basement. The existing openness. Such a combina- Park is Hämeenlinna’s oldest new technology. All water basement has been re-used to tion of strong animals and the building commissioned in pipes, including rainwater house an auditorium and gym- desire to maintain openness 1798. Ramboll provided the and waste water drains, were nasium as well as car-parking. has posed several technical overall planning for a renova- renewed and the park was also Each of the towers has a cen- challenges. For example, the tion of the historic Square and fitted with an irrigation system. tral core that is sufficiently ro- concrete columns in the struc- Church Park of Hämeenlinna The revived park won the bust to provide interior space ture have to appear as light as City in Finland. Environmental Architectural that is completely column-free. possible, while still being able Design of the Year Award in The largest tower is 29 storeys to resist the pressure of an The starting point for the October 2007. tall and is stepped back to elephant whose trunk is able renovation work was to restore create terraces at two levels. to pull with a force of 3 tonnes. the park structure to its This spectacular structure will original state as designed by be opened in 2008. Armas Lindgren in 1911. Paths 26 Directors’Design within Report architecture and landscaping Directors’ Report 27

Elephant house, Elephant house, Copenhagen Copenhagen Ramboll has produced the All aspects of the building fully integrated engineering have been designed with design for the new elephant a vision of openness. The house using the latest 3D two glass domes covering technology and is now super- the building ensure a view vising the building process. of the sky and the barriers The elephant house is due between the visitor and for completion in the early the animals are kept as summer of 2008. discreet as possible.

brooks as well as deep ponds”, Ulf Nordfjell explains. “The Linnaeus borealis (Twinﬂower), von Linnaeus’s trademark, has pride of place, surrounded by granite from the Swedish west coast.”

In October 2007, Ulf Nordfjell was awarded second prize at the Sigge Thernwall Prize Ceremony in Malmö. He received this recognition of his work due to his ability to pay speciﬁc attention to the preservation of natural elements and the surrounding landscape when creating landscape designs.

A Tribute to Linnaeus, Creating harmonious In Silverdal, north of Stockholm Sweden landscape designs in Sweden, Ramboll is mana- The garden is seen as a One of our landscape ging a project of a new neigh- contemporary pleasure garden, reflecting Swedish architects, Ulf Nordfjell, was bourhood of homes, schools interest in architecture, awarded Gold Medal for his and workplaces. Ulf Nordfjell art, design and nature. celebration garden “A Tribute has adapted the aesthetic to Linnaeus” at the Chelsea detail of the landscape so that Flower Show in 2007, one of this matches the buildings. the world’s largest and most The streets and alleys in prestigious garden exhibitions. Silverdal have been adjusted Ulf Nordfjell had created a 230 to fit the terrain on the site, m2 garden on the occasion of leaving the hilliest areas the celebration of the tercen- undeveloped. As much as tennial of the birth of famous, possible, nature has been left Swedish botanist and scientist, to rule. Ramboll is also project Carl von Linnaeus, in 2007. managing the construction of 160 apartments on the site, “This is a modern garden, which are due for completion with strong forms and Swedish in 2008. The plan is to eliminate materials, such as timber, steel the boundaries between the and granite. You will also find indoor and outdoor space by elements of water which direct using terraces, glass façades thoughts towards bubbling and gardens. 26 Directors’Design within Report architecture and landscaping Directors’ Report 27

brooks as well as deep ponds”, Ulf Nordfjell explains. “The Linnaeus borealis (Twinﬂower), von Linnaeus’s trademark, has pride of place, surrounded by granite from the Swedish west coast.”

A Tribute to Linnaeus, Creating harmonious In Silverdal, north of Stockholm Sweden landscape designs in Sweden, Ramboll is mana- The garden is seen as a One of our landscape ging a project of a new neigh- contemporary pleasure garden, reflecting Swedish architects, Ulf Nordfjell, was bourhood of homes, schools interest in architecture, awarded Gold Medal for his and workplaces. Ulf Nordfjell art, design and nature. celebration garden “A Tribute has adapted the aesthetic to Linnaeus” at the Chelsea detail of the landscape so that Flower Show in 2007, one of this matches the buildings. the world’s largest and most The streets and alleys in prestigious garden exhibitions. Silverdal have been adjusted Ulf Nordfjell had created a 230 to fit the terrain on the site, m2 garden on the occasion of leaving the hilliest areas the celebration of the tercen- undeveloped. As much as tennial of the birth of famous, possible, nature has been left Swedish botanist and scientist, to rule. Ramboll is also project Carl von Linnaeus, in 2007. managing the construction of 160 apartments on the site, “This is a modern garden, which are due for completion with strong forms and Swedish in 2008. The plan is to eliminate materials, such as timber, steel the boundaries between the and granite. You will also find indoor and outdoor space by elements of water which direct using terraces, glass façades thoughts towards bubbling and gardens. 28 ClimateDirectors’ and Report energy solutions Directors’ Report 29

Burbo Bank, UK The design for Burbo Offshore Wind Farm was carried out as 25 individual foundation designs based on the speciﬁc site conditions at the position of each individual foundation, like soil proﬁle and water depth. Photo: Siemens AG, Energy Sector.

Rethinking energy supply

The growing scarcity of fossil fuels needs to be addressed with intelligent, future-proof strategies and extensive research into renewable energy technologies. In the long run, securing energy supplies will be possible only with a broad range of measures such as wind energy, solar energy and waste-to-energy. 28 ClimateDirectors’ and Report energy solutions Directors’ Report 29

Rethinking energy supply

The growing scarcity of fossil fuels needs to be addressed with intelligent, future-proof strategies and extensive research into renewable energy technologies. In the long run, securing energy supplies will be possible only with a broad range of measures such as wind energy, solar energy and waste-to-energy. 30 Directors’Climate and Report Energyenergy solutions Directors’ Report 31

Burbo Bank, UK Burbo Offshore Wind Farm consists of 25 Siemens 3.6 MW wind turbines connected to shore by three buried sub- marine cables. The wind farm is constructed at a water depth of 3.5-7.5 m on Burbo Flats in Liverpool Bay, 4 miles from the Sefton coast line. Photo: Siemens AG, Energy Sector.

Burbo Bank, UK 3D modelling was used to design the foundations of the wind turbines. The use of 3D enables our engineers to prepare detailed models of the foundations, so that we are able to provide precise work drawings as well as an estimation of the amount of materials necessary to our customers.

The future lies in wind power higher and more reliable – and Ramboll has also been nomi- contribute with detailed de- According to Søren Juel offshore turbines are also less nated lead designer on the signs for the foundations and Petersen, Director of Wind obtrusive. world’s largest offshore wind the transformer substation. Energy at Ramboll, the future farm, Greater Gabbard in the lies in wind power. Ramboll has Recently, Ramboll was chosen Thames Estuary, UK. When the Utilising solar energy designed more offshore wind to assist Bluewater Wind in farm is completed in 2011 it The increased focus on climate turbine foundations than any the development of the first will be huge – including 500 in- changes has in turn increased other company in the world offshore wind farm in the US. stalled MW from 140 turbines the interest in solar energy due to our 30 years’ experi- Competing proposals for both producing enough energy for in the form of solar heating ence with anchoring oil and a gas and a coal plant were more than 415,000 homes. and solar panels. Solar energy gas rigs at sea. The ability to beaten off, not only for envi- provides a natural way to heat deal with the challenges of ronmental reasons but also for Another exciting wind energy our water and homes and the sea environment in this the predicted price stability. project is the first commercial provides us with electricity. connection has successfully Due to our experience, ad- offshore wind farm in Germany, In the future, we may have no been adapted to wind farms. vanced analyses and a number situated 30 km off the coast other choice but to look at Most of our competitors do of design innovations we are from Wilhelmshaven in the natural resources in order to not think in offshore terms. able to save our customers North Sea. This wind park will have these necessities and Offshore wind farms are much considerable amounts as our include 18 REpower 5 MW conveniences. more difficult to design, con- designs are lighter – and less turbines. With a total tower struct and maintain than those material means lower prices. and nacelle weight of approxi- Ramboll is to provide consul- on land. For this reason they The 600 MW wind farm in mately 440 tonnes and a rotor tancy on a 20,000 m2 thermal are more expensive but at the Delaware in the US is planned diameter of 126 m these are solar heating system west same time wind speeds across to be built in 2010-2011. currently the largest wind tur- of Copenhagen which will the open water are generally bines in the world. Ramboll will become the largest in the 30 Directors’Climate and Report Energyenergy solutions Directors’ Report 31

The future lies in wind power higher and more reliable – and Ramboll has also been nomi- contribute with detailed de- According to Søren Juel offshore turbines are also less nated lead designer on the signs for the foundations and Petersen, Director of Wind obtrusive. world’s largest offshore wind the transformer substation. Energy at Ramboll, the future farm, Greater Gabbard in the lies in wind power. Ramboll has Recently, Ramboll was chosen Thames Estuary, UK. When the Utilising solar energy designed more offshore wind to assist Bluewater Wind in farm is completed in 2011 it The increased focus on climate turbine foundations than any the development of the first will be huge – including 500 in- changes has in turn increased other company in the world offshore wind farm in the US. stalled MW from 140 turbines the interest in solar energy due to our 30 years’ experi- Competing proposals for both producing enough energy for in the form of solar heating ence with anchoring oil and a gas and a coal plant were more than 415,000 homes. and solar panels. Solar energy gas rigs at sea. The ability to beaten off, not only for envi- provides a natural way to heat deal with the challenges of ronmental reasons but also for Another exciting wind energy our water and homes and the sea environment in this the predicted price stability. project is the first commercial provides us with electricity. connection has successfully Due to our experience, ad- offshore wind farm in Germany, In the future, we may have no been adapted to wind farms. vanced analyses and a number situated 30 km off the coast other choice but to look at Most of our competitors do of design innovations we are from Wilhelmshaven in the natural resources in order to not think in offshore terms. able to save our customers North Sea. This wind park will have these necessities and Offshore wind farms are much considerable amounts as our include 18 REpower 5 MW conveniences. more difficult to design, con- designs are lighter – and less turbines. With a total tower struct and maintain than those material means lower prices. and nacelle weight of approxi- Ramboll is to provide consul- on land. For this reason they The 600 MW wind farm in mately 440 tonnes and a rotor tancy on a 20,000 m2 thermal are more expensive but at the Delaware in the US is planned diameter of 126 m these are solar heating system west same time wind speeds across to be built in 2010-2011. currently the largest wind tur- of Copenhagen which will the open water are generally bines in the world. Ramboll will become the largest in the 32 ClimateDirectors’ and Report energy solutions Directors’ Report 33

Sustainability built on knowledge, Denmark Each year, Vestforbrænding receives thousands of school children for tours of the plant in order to educate them about the environment, inci- neration and waste management. Ramboll has developed a web application called VF Booking that enables both customers and employees to book and administer plant tours.

world to date. The system is volumes, thermal treatment our position on the global compressed air into the flame scheduled for completion by also offers an alternative way market”, says Thomas Rand, and burning gas, using a spe- the summer of 2009, prior to of recovering energy. In this Director of the Energy and cial nozzle system, whereby the United Nations Climate way, instead of creating an Process Division at Ramboll. an improved and smokeless Change Conference in Copen- adverse impact on the environ- combustion is achieved. This is hagen. ment, waste is turned into a Stopping air pollution known as a “smokeless flare” valuable CO2-neutral – or even in Qatar – a flame without smoke. In At Linköping University in CO2-reducing – resource. In order to reduce the highly addition, we are working on a Waste-to-energy, Sweden, Ramboll has been polluting smoke from flare method for reclaiming some of Norway responsible for the installation At the moment, Ramboll is towers on oil and gas installa- the gas that would otherwise Most recently, Ramboll of solar panels. The aim has involved in various large tions, Ramboll has developed be burnt in the tower. in Denmark and Norway joined forces and won two been to show how renewable waste-to-energy projects in an unusual and innovative contracts for the implemen- energy can be successfully Northern and Central Europe technology. For many years, tation of waste-to-energy integrated into buildings and and we are are expanding the Dukhan oil field on the plants in both Kristiansand also to spread awareness of our activities on the North west coast of Qatar has suf- and Hamar, Norway. These projects combine our spear- new technologies among American and Canadian fered from smoke pollution. head knowledge of waste- students at the university. markets. Especially during periods of to-energy and civil works effectively no wind, there has engineering expertise with Waste becomes clean, “In the recent years, our turn- been a heavy cloud of smog our knowledge of local conditions. renewable energy over has increased approxi- over the area. This new tech- Although the primary mately 25% per year. Increased nology prevents pollution and objective of waste-to-energy activities in Eastern Europe unhealthy smog from the flare facilities is to reduce waste and North America strengthen system at Dukhan by pumping 32 ClimateDirectors’ and Report energy solutions Directors’ Report 33

world to date. The system is volumes, thermal treatment our position on the global compressed air into the flame scheduled for completion by also offers an alternative way market”, says Thomas Rand, and burning gas, using a spe- the summer of 2009, prior to of recovering energy. In this Director of the Energy and cial nozzle system, whereby the United Nations Climate way, instead of creating an Process Division at Ramboll. an improved and smokeless Change Conference in Copen- adverse impact on the environ- combustion is achieved. This is hagen. ment, waste is turned into a Stopping air pollution known as a “smokeless flare” valuable CO2-neutral – or even in Qatar – a flame without smoke. In At Linköping University in CO2-reducing – resource. In order to reduce the highly addition, we are working on a Waste-to-energy, Sweden, Ramboll has been polluting smoke from flare method for reclaiming some of Norway responsible for the installation At the moment, Ramboll is towers on oil and gas installa- the gas that would otherwise Most recently, Ramboll of solar panels. The aim has involved in various large tions, Ramboll has developed be burnt in the tower. in Denmark and Norway joined forces and won two been to show how renewable waste-to-energy projects in an unusual and innovative contracts for the implemen- energy can be successfully Northern and Central Europe technology. For many years, tation of waste-to-energy integrated into buildings and and we are are expanding the Dukhan oil field on the plants in both Kristiansand also to spread awareness of our activities on the North west coast of Qatar has suf- and Hamar, Norway. These projects combine our spear- new technologies among American and Canadian fered from smoke pollution. head knowledge of waste- students at the university. markets. Especially during periods of to-energy and civil works effectively no wind, there has engineering expertise with Waste becomes clean, “In the recent years, our turn- been a heavy cloud of smog our knowledge of local conditions. renewable energy over has increased approxi- over the area. This new tech- Although the primary mately 25% per year. Increased nology prevents pollution and objective of waste-to-energy activities in Eastern Europe unhealthy smog from the flare facilities is to reduce waste and North America strengthen system at Dukhan by pumping 34 InfrastructureDirectors’ Report development Directors’ Report 35

Norra länken, Stockholm Norra länken will solve a difﬁcult trafﬁc situation, create economic growth and result in a better environment for the people of Stockholm, Sweden. It will also provide a greatly improved link to the ports for ships travelling to the Baltic States, Finland and Russia. Energising modern society

An efﬁcient infrastructure is vital to a continuous development of society. Ramboll’s international expertise in integrating new infrastructure solutions with existing infrastructure provides our customers with creative outcomes ﬁtted for future demands. 34 InfrastructureDirectors’ Report development Directors’ Report 35

An efﬁcient infrastructure is vital to a continuous development of society. Ramboll’s international expertise in integrating new infrastructure solutions with existing infrastructure provides our customers with creative outcomes ﬁtted for future demands. 36 InfrastructureDirectors’ Report development Directors’ Report 37

Norra länken, Stockholm The project incorporates a number of areas of Ramboll’s technical expertise such as road and trafﬁc, geotechnical engineering, water and drainage systems, structural engineering, landscape planning and architecture. Photo: Mikael Ullén.

Norra länken, Stockholm The new road will be a part of an orbital system around the centre of Stockholm, and part of the European road E20. The majority of the road will run through tunnels.

Reducing traffic problems the new road will improve Improving flight connections Norway, Sweden, Finland and in Stockholm the link with Värthamnen and in the Nordic region the northern part of Russia. To reduce congestion and to Frihamnen, the most impor- A cross-organisational team in Local legislation and adminis- minimise the heavy traffic in tant Swedish ports for freight Ramboll is preparing a socio- trative procedures are creating the centre of Stockholm, it was and passenger ships travelling economic analysis looking at political and operational chal- decided to build the Norra to the Baltic States, Finland the possibility of increasing lenges in the region, as is the länken: a five kilometre road and Russia. cooperation between the lack of awareness of the new around part of the centre of Danish and the Swedish Air routes among the potential Stockholm, three kilometres Ramboll is designing two Navigation Service providers. passengers. Joint market- of which will be in tunnels. out of the five parts of Norra This programme is the result ing efforts and cooperation Together with Södra länken länken. The project incorpo- of an initiative from the among public and private and Essingeleden, the Norra rates several technical areas European Union aiming at stakeholders and airline länken will almost complete of expertise such as road and more efficient execution of air companies in the region are the orbital road around the traffic, geotechnical engineer- navigational services in Europe included in the project. city. ing, water and drainage – the “Single European Sky” systems, structural engineer- programme. This new major route will lead ing, landscape planning and most traffic around the city architecture. We also took The findings in this project will centre, greatly improving the part in developing a technical be used in another cross-or- air quality in the city as well as solution for the construction of ganisational project investi- reducing CO2 emissions from a tunnel beneath the national gating improvements to air cars that would otherwise be park at Wennergrens Center. connections in the Barents Sea caught in traffic. Furthermore, region; between northern 36 InfrastructureDirectors’ Report development Directors’ Report 37

Norra länken, Stockholm The new road will be a part of an orbital system around the centre of Stockholm, and part of the European road E20. The majority of the road will run through tunnels.

Reducing traffic problems the new road will improve Improving flight connections Norway, Sweden, Finland and in Stockholm the link with Värthamnen and in the Nordic region the northern part of Russia. To reduce congestion and to Frihamnen, the most impor- A cross-organisational team in Local legislation and adminis- minimise the heavy traffic in tant Swedish ports for freight Ramboll is preparing a socio- trative procedures are creating the centre of Stockholm, it was and passenger ships travelling economic analysis looking at political and operational chal- decided to build the Norra to the Baltic States, Finland the possibility of increasing lenges in the region, as is the länken: a five kilometre road and Russia. cooperation between the lack of awareness of the new around part of the centre of Danish and the Swedish Air routes among the potential Stockholm, three kilometres Ramboll is designing two Navigation Service providers. passengers. Joint market- of which will be in tunnels. out of the five parts of Norra This programme is the result ing efforts and cooperation Together with Södra länken länken. The project incorpo- of an initiative from the among public and private and Essingeleden, the Norra rates several technical areas European Union aiming at stakeholders and airline länken will almost complete of expertise such as road and more efficient execution of air companies in the region are the orbital road around the traffic, geotechnical engineer- navigational services in Europe included in the project. city. ing, water and drainage – the “Single European Sky” systems, structural engineer- programme. This new major route will lead ing, landscape planning and most traffic around the city architecture. We also took The findings in this project will centre, greatly improving the part in developing a technical be used in another cross-or- air quality in the city as well as solution for the construction of ganisational project investi- reducing CO2 emissions from a tunnel beneath the national gating improvements to air cars that would otherwise be park at Wennergrens Center. connections in the Barents Sea caught in traffic. Furthermore, region; between northern 38 InfrastructureDirectors’ Report development Directors’ Report 39

Infrastructure, India In Delhi, preparations for hosting the 19th Commonwealth Games in 2010 have resulted in consultancy projects looking at the establishment of several ﬂy-over bridges in the city, as well as preparation of a master plan for a new international airport near Delhi.

Kakinada Port in the state of Andhra Pradesh as well as Dhamra Port in Orissa. Furthermore, L&T Ramboll is preparing the master plan for a new international airport near Delhi called “Taj Airport”. It will be located in Noida, Major infrastructure a suburban city of Delhi just projects in India across the state border in Uttar Lack of infrastructure is one Pradesh. This greenfield proof the largest barriers to ject will result in an airport four economic growth in India. times bigger than the existing The electricity supply is highly “Indira Gandhi Airport” which unstable, the railway system currently handles 30 million outdated and the road system passengers every year. poor. Obviously, there is a huge need for developing an Delhi is preparing to host the infrastructure that can support 19th Commonwealth Games in the Indian GDP growing at October 2010. In order to ease more than 8% a year. flow of traffic in the city for the Infrastructure, India Games, L&T Ramboll is offer- There is considerable Currently, Ramboll is involved ing consultancy on a series need for all kinds of in numerous projects in India of fly-over bridges. There has infrastructure projects in India. Ramboll’s joint through our joint venture with been a huge increase in the venture with Larsen Larsen & Toubro Limited. number of cars due to the & Toubro Limited in L&T Ramboll is developing raised standards of living in India provides us with a the master plan and detailed India which has necessitated competitive edge over other consultancies due design for three greenfield improvements to the road to manpower cost savings harbours on the east coast of system to avoid the inevitable while still maintaining a India: Gangavaram Port and congestion. high quality of service. 38 InfrastructureDirectors’ Report development 38 InfrastructureDirectors’ Report development Directors’ Report 39 Directors’ Report 39

Infrastructure, India Infrastructure, India In Delhi, preparations In Delhi, preparations for hosting the 19th for hosting the 19th Commonwealth Games Commonwealth Games in 2010 have resulted in in 2010 have resulted in consultancy projects consultancy projects looking at the establish- looking at the establishment of several ﬂy-over ment of several ﬂy-over bridges in the city, as bridges in the city, as well as preparation of well as preparation of a master plan for a new a master plan for a new international airport international airport near Delhi. near Delhi.

Kakinada Port in the state of Kakinada Port in the state of Andhra Pradesh as well as Andhra Pradesh as well as Dhamra Port in Orissa. Dhamra Port in Orissa. Furthermore, L&T Ramboll is Furthermore, L&T Ramboll is preparing the master plan for a preparing the master plan for a new international airport near new international airport near Delhi called “Taj Airport”. Delhi called “Taj Airport”. It will be located in Noida, It will be located in Noida, Major infrastructure a suburban city of Delhi just Major infrastructure a suburban city of Delhi just projects in India across the state border in Uttar projects in India across the state border in Uttar Lack of infrastructure is one Pradesh. This greenfield pro- Lack of infrastructure is one Pradesh. This greenfield proof the largest barriers to ject will result in an airport four of the largest barriers to ject will result in an airport four economic growth in India. times bigger than the existing economic growth in India. times bigger than the existing The electricity supply is highly “Indira Gandhi Airport” which The electricity supply is highly “Indira Gandhi Airport” which unstable, the railway system currently handles 30 million unstable, the railway system currently handles 30 million outdated and the road system passengers every year. outdated and the road system passengers every year. poor. Obviously, there is a poor. Obviously, there is a huge need for developing an Delhi is preparing to host the huge need for developing an Delhi is preparing to host the infrastructure that can support 19th Commonwealth Games in infrastructure that can support 19th Commonwealth Games in the Indian GDP growing at October 2010. In order to ease the Indian GDP growing at October 2010. In order to ease more than 8% a year. flow of traffic in the city for the more than 8% a year. flow of trafficInfrastructure, in the city for India the Infrastructure, India Games, L&T Ramboll is offer- Games, L&T ThereRamboll is considerable is offer- There is considerable Currently, Ramboll is involved ing consultancy on a series Currently, Ramboll is involved ing consultancyneed on for a series all kinds of need for all kinds of in numerous projects in India of fly-over bridges. There has in numerous projects in India of fly-overinfrastructure bridges. There projects has in infrastructure projects in India. Ramboll’s joint India. Ramboll’s joint through our joint venture with been a huge increase in the through our joint venture with been a huge increaseventure with in the Larsen venture with Larsen Larsen & Toubro Limited. number of cars due to the Larsen & Toubro Limited. number of cars& dueToubro to Limitedthe in & Toubro Limited in L&T Ramboll is developing raised standards of living in L&T Ramboll is developing raised standardsIndia provides of living us inwith a India provides us with a the master plan and detailed India which has necessitated the master plan and detailed India which competitivehas necessitated edge over competitive edge over other consultancies due other consultancies due design for three greenfield improvements to the road design for three greenfield improvementsto manpower to the cost road savings to manpower cost savings harbours on the east coast of system to avoid the inevitable harbours on the east coast of system to avoidwhile stillthe maintaining inevitable a while still maintaining a India: Gangavaram Port and congestion. India: Gangavaram Port and congestion.high quality of service. high quality of service. 40 BuildingsDirectors’ and Report high-rise in a sustainable context Directors’ Report 41

U-Bora, Dubai The U-Bora Tower Complex, currently under construction, features a 57-storey office tower, a 20-storey residentialtower, as well as 7,000 m2 of retail space on the lower floors. As they ascend, the four façades of the 250 m high office tower twist at varying degrees and angles to maximise the views from inside over the bay.

The sky is the limit

The British engineering design company Whitbybird joined Ramboll in 2007, bringing with it additional expertise in the rapidly growing global market for high-rise, ﬁre engineering, façade engineering and design engineering. 40 BuildingsDirectors’ and Report high-rise in a sustainable context Directors’ Report 41

The sky is the limit

The British engineering design company Whitbybird joined Ramboll in 2007, bringing with it additional expertise in the rapidly growing global market for high-rise, ﬁre engineering, façade engineering and design engineering. 42 Directors’Buildings and Report high-rise in a sustainable context Directors’ Report 43

The Opus in 3D, The Bonnington Dubai Hotel, Dubai We are among the The Bonnington Hotel, leading consultancies to situated at Jumeirah use 3D visualisation and Lakes, in an area between 3D design. The inclusion the Dubai Marina and the of 3D technology in the Jumeira Islands, has construction process gives far-reaching views of the the ability to include more city and sea. This high-rise people into the decision building is a mixed-use making process, as well as hotel and residential help achieve the optimal building, with a total of solution. Visualisation: Zaha 37 storeys. Hadid Architects.

design demanded a complex structural design. The building consists of two concrete frame towers set approximately 50 m apart, which are linked from the 20th floor and upwards by a five-storey steel bridge. To improve the sustainability of the Opus, several solutions have been incorporated in the building. A large proportion of the hot water for the Opus will be solar thermal, reducing the building’s requirement for electric hot-water systems. A Climate changes The sustainability of high-rise Here, we have provided our carefully designed façade lets Over recent years, the very buildings can be even further consultancy services on sein daylight, rejects solar gain extreme global climate has improved by equipping the veral innovative structures. and glare and is linked to day- raised awareness to the fact building with sustainable tech- light sensors to turn the lights that it is necessary not only nology such as wind tunnels, “In Dubai, we are very for- off when not required. to take into account climate solar panels and rainwater tunate. Every project here changes when designing collection. In Ramboll we are is unique and immense. It is On the U-Bora project, we buildings, but also to try and committed to developing amasing, there are so many worked closely with the minimise CO2 emissions. sustainable solutions, and are buildings with distinctive architect to minimise the solar Rising energy prices have searching for new ways to use design features that challenge gain into the buildings. This further spurred the demand energy and materials effective- our engineering expertise,” was done by undertaking for energy efficient buildings. ly and economically in our says Dalia S. Younan, Principal energy modelling so that the buildings. Electrical Engineer in Dubai. buildings are aligned such that High-rise buildings represent shading is introduced on the a sustainable alternative to Hot construction market in The design for the Opus, south, east and west façades. other building structures. By Dubai located at the Business Bay Also, the introduction of building upwards, population Ramboll Whitbybird has a in Dubai, was derived from balconies to the residential density is increased and strong presence in the boom- an unusual source of inspira- apartments not only add value consequently transportation ing construction market in tion. The architect, the world to the property but also result demand is reduced, as more Dubai where some of the most famous Zaha Hadid, sank in energy savings due to the people live in the city, close to extreme structures in the a hot poker into a cube of shading affect. This way, their place of work. This means world are built. It is all about ice to create an irregular, cooling loads of the residential that CO2 emissions from how to build bigger, taller and curved void in the middle of building are reduced by 18%, transportation are reduced. wilder in order to stand out. the building. This unusual saving 2,500 tonnes of CO2. 42 Directors’Buildings and Report high-rise in a sustainable context Directors’ Report 43

design demanded a complex structural design. The building consists of two concrete frame towers set approximately 50 m apart, which are linked from the 20th floor and upwards by a five-storey steel bridge. To improve the sustainability of the Opus, several solutions have been incorporated in the building. A large proportion of the hot water for the Opus will be solar thermal, reducing the building’s requirement for electric hot-water systems. A Climate changes The sustainability of high-rise Here, we have provided our carefully designed façade lets Over recent years, the very buildings can be even further consultancy services on sein daylight, rejects solar gain extreme global climate has improved by equipping the veral innovative structures. and glare and is linked to day- raised awareness to the fact building with sustainable tech- light sensors to turn the lights that it is necessary not only nology such as wind tunnels, “In Dubai, we are very for- off when not required. to take into account climate solar panels and rainwater tunate. Every project here changes when designing collection. In Ramboll we are is unique and immense. It is On the U-Bora project, we buildings, but also to try and committed to developing amasing, there are so many worked closely with the minimise CO2 emissions. sustainable solutions, and are buildings with distinctive architect to minimise the solar Rising energy prices have searching for new ways to use design features that challenge gain into the buildings. This further spurred the demand energy and materials effective- our engineering expertise,” was done by undertaking for energy efficient buildings. ly and economically in our says Dalia S. Younan, Principal energy modelling so that the buildings. Electrical Engineer in Dubai. buildings are aligned such that High-rise buildings represent shading is introduced on the a sustainable alternative to Hot construction market in The design for the Opus, south, east and west façades. other building structures. By Dubai located at the Business Bay Also, the introduction of building upwards, population Ramboll Whitbybird has a in Dubai, was derived from balconies to the residential density is increased and strong presence in the boom- an unusual source of inspira- apartments not only add value consequently transportation ing construction market in tion. The architect, the world to the property but also result demand is reduced, as more Dubai where some of the most famous Zaha Hadid, sank in energy savings due to the people live in the city, close to extreme structures in the a hot poker into a cube of shading affect. This way, their place of work. This means world are built. It is all about ice to create an irregular, cooling loads of the residential that CO2 emissions from how to build bigger, taller and curved void in the middle of building are reduced by 18%, transportation are reduced. wilder in order to stand out. the building. This unusual saving 2,500 tonnes of CO2. 44 BuildingsDirectors’ and Report high-rise in a sustainable context Directors’ Report 45

The New University Hospital in Aarhus, Denmark Three high-rise buildings will house the administration department, research facilities and a patient hotel. Visualisation: Arkitektﬁrmaet C. F. Møller

energy consumption without having to sacriﬁce architectural details or comfort.

We have also provided full consultancy on an energy efﬁ- cient house in Sisimiut, Green- land, just 50 kilometres north of the Arctic Circle. Due to the extreme climatic conditions it was a particular challenge to reduce the heat consumption in the house. The results collected from this house will be used during a renovation of existing housing in Greenland, as well as future construction projects.

Building a hospital town In Scandinavia too, the demand for high-rise buildings is increasing. Ramboll is part of Passive houses, Norway The homes of the future the winning consortium to The first units out of 33 passive The focus on sustainability design and lead the construc- houses have been completed in has also increased demand tion of the largest hospital Lilletvedt, Norway. Ramboll provided the design for these terrace for houses that minimise their project in Northern Europe, houses, which have received a lot energy consumption. This way, including three high-rise of positive attention due to their private homes can become an buildings. The new University design and layout, as well as important factor in reducing Hospital will be situated in their sustainability. Photo: Nexibygg climate changes. Ramboll is Aarhus, Denmark. The project taking part in several projects will stretch over the next 10- involving passive houses. The 15 years, with the hospital low heat consumption in these site ending up the size of energy efficient houses is a provincial town – about The New University achieved by extra insulation, 500,000 m2. It will contain a six- Hospital in Aarhus, highly efficient windows, storey building with treatment Denmark The hospital site will be ventilation with efficient heat departments and beds, and modelled after an exist- recovery and utilisation of a central arrival area. Three ing Danish town, with low passive solar heat. high-rise buildings will house buildings on the outside the administration depart- and increasingly taller buildings as the centre In Skibet, Denmark, Ramboll ment, research facilities and a is approached. The site is part of a project for the con- patient hotel. The ground floor will also have streets and struction of Komfort houses: houses a reception area and squares providing the ba- an example of how one-family facilities such as a conference sis for a diverse, dynamic and green urban area. homes can become sustain- hall, shops, a bank and a Photo: Arkitektfirmaet able by ensuring minimal cinema. C. F. Møller 44 BuildingsDirectors’ and Report high-rise in a sustainable context Directors’ Report 45

energy consumption without having to sacriﬁce architectural details or comfort.

Building a hospital town In Scandinavia too, the demand for high-rise buildings is increasing. Ramboll is part of Passive houses, Norway The homes of the future the winning consortium to The first units out of 33 passive The focus on sustainability design and lead the construc- houses have been completed in has also increased demand tion of the largest hospital Lilletvedt, Norway. Ramboll provided the design for these terrace for houses that minimise their project in Northern Europe, houses, which have received a lot energy consumption. This way, including three high-rise of positive attention due to their private homes can become an buildings. The new University design and layout, as well as important factor in reducing Hospital will be situated in their sustainability. Photo: Nexibygg climate changes. Ramboll is Aarhus, Denmark. The project taking part in several projects will stretch over the next 10- involving passive houses. The 15 years, with the hospital low heat consumption in these site ending up the size of energy efficient houses is a provincial town – about The New University achieved by extra insulation, 500,000 m2. It will contain a six- Hospital in Aarhus, highly efficient windows, storey building with treatment Denmark The hospital site will be ventilation with efficient heat departments and beds, and modelled after an exist- recovery and utilisation of a central arrival area. Three ing Danish town, with low passive solar heat. high-rise buildings will house buildings on the outside the administration depart- and increasingly taller buildings as the centre In Skibet, Denmark, Ramboll ment, research facilities and a is approached. The site is part of a project for the con- patient hotel. The ground floor will also have streets and struction of Komfort houses: houses a reception area and squares providing the ba- an example of how one-family facilities such as a conference sis for a diverse, dynamic and green urban area. homes can become sustain- hall, shops, a bank and a Photo: Arkitektfirmaet able by ensuring minimal cinema. C. F. Møller 46 WaterDirectors’ and Reportenvironment Directors’ Report 47

Drinking water, Bangladesh The people in Bangladesh are suffering from the deadly effects of contaminated drinking water. This has not been caused by climate changes or pollution, but by naturally occurring arsenic in the ground. Photo: Magnum Photo.

Securing access to safe drinking water

Water is a pre-requisite for life and a basic human right. Lack of water is the most serious crisis that millions of the most vulnerable people in the world are facing. Thousands of people die every day because they do not have access to clean water. 46 WaterDirectors’ and Reportenvironment Directors’ Report 47

Securing access to safe drinking water

Water is a pre-requisite for life and a basic human right. Lack of water is the most serious crisis that millions of the most vulnerable people in the world are facing. Thousands of people die every day because they do not have access to clean water. 48 WaterDirectors’ and Reportenvironment Directors’ Report 49

Drinking water, Bangladesh The study area in Bangladesh is one of the most arsenic affected districts in the world. By using data from ongoing ﬁeld and laboratory research, Ramboll runs predictive groundwater simulations in order to ascertain that the targeted groundwater bearing sediments remain free of arsenic.

Providing arsenic-free water decades after the actual In time, there could be a risk in Bangladesh poisoning occurs. High arsenic that the clean water from the The Ramboll Foundation has levels result in, among other red sediments will be con- granted financial support for a things, pigmentation changes, taminated with arsenic if water three-year research project on cancer, tumours, liver damage from the layers above flows the “Sustainability of commu- and diabetes. There is an downwards. nity-driven initiatives to target urgent need to find practical arsenic safe groundwater as solutions to obtain safe and The study area, located 60 a drinking water source in clean drinking water. In some kilometres southeast of Dhaka, Bangladesh.” parts of Bangladesh, local is one of the most arsenic af- drillers are now targeting fected districts in the world. In Bangladesh, naturally oc- presumed safe groundwater By using data from ongoing Drinking water, curring high levels of arsenic on the basis of the local colour field and laboratory research Bangladesh The concept of drinking found in groundwater have of the sediments and its Ramboll will run predictive water from tubewells undermined the decade long texture. It seems that the red groundwater simulations in is deeply rooted in the success of supplying 97% of its sediments in the earth contain order to ascertain whether or minds of the Bangladeshi. population with safe drinking iron dioxide which functions not the targeted groundwater The wells providing arsenic safe water are water. As a consequence, as a natural arsenic filter. It has bearing sediments are sustain- painted red to indicate the safe water coverage has been scientifically verified as a able supplies. By cooperating that the water is clean dropped drastically and an viable solution and the objec- with Bangladeshi organisa- enough to drink. estimated 30-70 million people tive of the research project is tions the outcome can be Photo: Magnum Photo. are at risk. The harmful effects to validate if this method is implemented in Water Safety of arsenic poisoning surface sustainable in the long-run. Plans by local authorities. 48 WaterDirectors’ and Reportenvironment Directors’ Report 49

Providing arsenic-free water decades after the actual In time, there could be a risk in Bangladesh poisoning occurs. High arsenic that the clean water from the The Ramboll Foundation has levels result in, among other red sediments will be con- granted financial support for a things, pigmentation changes, taminated with arsenic if water three-year research project on cancer, tumours, liver damage from the layers above flows the “Sustainability of commu- and diabetes. There is an downwards. nity-driven initiatives to target urgent need to find practical arsenic safe groundwater as solutions to obtain safe and The study area, located 60 a drinking water source in clean drinking water. In some kilometres southeast of Dhaka, Bangladesh.” parts of Bangladesh, local is one of the most arsenic af- drillers are now targeting fected districts in the world. In Bangladesh, naturally oc- presumed safe groundwater By using data from ongoing Drinking water, curring high levels of arsenic on the basis of the local colour field and laboratory research Bangladesh The concept of drinking found in groundwater have of the sediments and its Ramboll will run predictive water from tubewells undermined the decade long texture. It seems that the red groundwater simulations in is deeply rooted in the success of supplying 97% of its sediments in the earth contain order to ascertain whether or minds of the Bangladeshi. population with safe drinking iron dioxide which functions not the targeted groundwater The wells providing arsenic safe water are water. As a consequence, as a natural arsenic filter. It has bearing sediments are sustain- painted red to indicate the safe water coverage has been scientifically verified as a able supplies. By cooperating that the water is clean dropped drastically and an viable solution and the objec- with Bangladeshi organisa- enough to drink. estimated 30-70 million people tive of the research project is tions the outcome can be Photo: Magnum Photo. are at risk. The harmful effects to validate if this method is implemented in Water Safety of arsenic poisoning surface sustainable in the long-run. Plans by local authorities. 50 WaterDirectors’ and Reportenvironment Directors’ Report 51 Nearly 7,000 employees – putting down

Water supply, Ethiopia The water supply deep roots programme has given 1.5 million people in Ethiopia access to clean water and waste collection. As a result, the mortality rate of children under ﬁve years has decreased worldwide by 50%.

Supplying Ethiopians tation units. This means that Targeting groundwater with clean water 1.5 million people have gained more easily In Ethiopia, the third phase of access to clean water and In Denmark, Ramboll has the “Rural Water Supply and waste collection in the Amhara developed a new geophysical Environmental Programme in region and the mortality rate method for mapping ground- Amhara Region” was success- of children under five years water occurrence, Magnetic fully completed by Ramboll. has decreased by 50%. Also, Resonance Distinction, or MRS Our expertise in initiating, the community is experiencing in Danish. Traditional geo- planning, implementing and several positive effects as the physical methods measure the managing a water supply as people no longer are forced resistance in the earth, which well as sanitation, environmen- to retrieve water from several can indicate where there is tal schemes and processes kilometres away. Children are a likelihood of finding water. has been transferred to local able to attend school and Instead, MRS is used to partners at municipal and adults are able to focus on measure the proportion of community level as well as to agriculture and cattle breed- water in the earth directly the private sector. ing. Construction and mainte- and it is therefore consider- nance have been assigned to ably more reliable than the The programme has contri- local artisan cooperatives and, traditional method. Several buted to the establishment thus, local entrepreneurship collaborators have already of 3,300 water points and has also been strengthened in shown interest in this way of 300,000 household latrines as the region. mapping groundwater which well as the establishment of significantly eases the five small town water and sani- detection process. 50 WaterDirectors’ and Reportenvironment Directors’ Report 51 Nearly 7,000 employees – putting down

Supplying Ethiopians tation units. This means that Targeting groundwater with clean water 1.5 million people have gained more easily In Ethiopia, the third phase of access to clean water and In Denmark, Ramboll has the “Rural Water Supply and waste collection in the Amhara developed a new geophysical Environmental Programme in region and the mortality rate method for mapping ground- Amhara Region” was success- of children under five years water occurrence, Magnetic fully completed by Ramboll. has decreased by 50%. Also, Resonance Distinction, or MRS Our expertise in initiating, the community is experiencing in Danish. Traditional geo- planning, implementing and several positive effects as the physical methods measure the managing a water supply as people no longer are forced resistance in the earth, which well as sanitation, environmen- to retrieve water from several can indicate where there is tal schemes and processes kilometres away. Children are a likelihood of finding water. has been transferred to local able to attend school and Instead, MRS is used to partners at municipal and adults are able to focus on measure the proportion of community level as well as to agriculture and cattle breed- water in the earth directly the private sector. ing. Construction and mainte- and it is therefore consider- nance have been assigned to ably more reliable than the The programme has contri- local artisan cooperatives and, traditional method. Several buted to the establishment thus, local entrepreneurship collaborators have already of 3,300 water points and has also been strengthened in shown interest in this way of 300,000 household latrines as the region. mapping groundwater which well as the establishment of significantly eases the five small town water and sani- detection process. 52 Directors’Annual Report Report [audited] Directors’ Report 53

Income statement Cash ﬂow statement

Group Group Parent company Note DKK thousand 2007 2006 Note DKK thousand 2007 2006 2007 2006 Operating activities: 1 Revenue 4,739,579 3,945,489 47,425 40,848 Profit before tax 315,126 244,731 Project costs -680,568 -652,016 -25 -655 Adjustments for non-cash items 112,235 89,446 External costs -785,433 -645,258 -28,765 -37,820 Change in work in progress -131,893 -49,381 2 Staff costs -2,814,753 -2,308,444 -20,632 -15,334 Change in receivables -252,573 -80,990 3 Depreciation and amortisation -57,907 -50,837 -941 -752 Change in payments from customers 133,052 85,098 3 Goodwill amortisation -56,584 -40,055 - - Change in payables 211,657 79,075 344,334 248,879 -2,938 -13,713 Change in provisions 28,213 3,286 Income tax paid -114,106 -77,947 Other operating income 4,208 3,819 33 - Cash flow from operating activities 301,711 293,318 Other operating costs -3,366 -124 - - 10 Income from subsidiaries - - 247,425 171,966 Income from associated companies 2,256 1,446 - - Investments: Operating profit 347,432 254,020 244,520 158,253 7 Acquisitions of subsidiaries and associates -359,735 -51,741 Dividend from associated companies - 769 4 Financial income 27,415 10,472 29,648 8,698 Investment in intangible assets -8,566 -946 5 Financial expenses -59,721 -19,761 -64,373 -23,236 Investment in tangible assets -60,431 -59,540 Profit before tax 315,126 244,731 209,795 143,715 Investment in other financial assets -5,609 -12,258 Cash flow from investing activities -434,341 -123,716 6 Tax -93,417 -85,358 8,766 7,509 Profit before minority 221,709 159,373 218,561 151,224 Financing activities: Minority interest -3,148 -2,083 - - Loan payments net 328,330 -72,643 Profit for the year 218,561 157,290 218,561 151,224 Dividend to shareholders -26,250 -5,250 Cash from financing activities 302,080 -77,893 Proposed profit appropriation: Proposed dividend 26,250 26,250 Net cash flow for the year 169,450 91,709 Retained earnings 192,311 124,974 218,561 151,224 Total cash and cash equivalents at 1 January 246,333 154,624

Total cash and cash equivalents at 31 December 415,783 246,333 52 Directors’Annual Report Report [audited] Directors’ Report 53

Income statement Cash ﬂow statement

Total cash and cash equivalents at 31 December 415,783 246,333 54 Directors’Annual Report Report [audited] Directors’ Report 55

Balance sheet, assets Balance sheet, liabilities

Group Parent Company Group Parent Company Note DKK thousand 31.12.2007 31.12.2006 31.12.2007 31.12.2006 Note DKK thousand 31.12.2007 31.12.2006 31.12.2007 31.12.2006

Goodwill 870,116 548,938 - - 16 Share capital 35,000 35,000 35,000 35,000 Software, licences, patents, etc. 11,590 7,972 - - Retained earnings 866,661 696,145 866,661 696,145 8 Intangible assets 881,706 556,910 - - Proposed dividend 26,250 26,250 26,250 26,250 17 Total shareholders’ equity 927,911 757,395 927,911 757,395 Property 5,064 4,629 - - Plant and equipment 120,871 96,994 1,738 3,320 Minority interest 12,918 5,147 - - Leasehold improvements 17,856 16,157 - - 9 Property, plant and equipment 143,791 117,780 1,738 3,320 Provision for pensions 70,342 49,658 4,000 4,000 6 Provision for deferred tax 64,465 85,610 - - 10 Investments in subsidiaries - - 1,237,942 1,170,539 Provision for claims, etc. 46,585 17,911 - - 11 Investments in associated companies 7,884 6,180 - - Total provisions 181,392 153,179 4,000 4,000 Amounts owed by subsidiaries - - 391,719 - Amounts owed by associated companies - 600 - - Bank loans 453,803 124,988 452,196 122,541 12 Other investments 7,013 11,288 3,786 3,984 Other payables 10,102 8,473 - Other receivables 30,744 5,483 1,933 - 18 Total long-term liabilities 463,905 133,461 452,196 122,541 13 Deposits 32,539 26,061 - - Investments 78,180 49,612 1,635,380 1,174,523 Bank loans 1,429 1,914 - - 14 Payments from customers 400,916 267,864 - - Total ﬁxed assets 1,103,677 724,302 1,637,118 1,177,843 Trade payables 187,548 121,774 1,730 1,578 Amounts owed to subsidiaries - - 534,640 486,507 Accounts receivables, trade 925,476 751,467 3,066 - Amounts owed to associated companies 1,592 1,659 - - 14 Work in progress 427,874 295,981 - - Corporation tax 42,313 25,823 1,905 - Other receivables 75,269 44,541 5,287 2,492 19 Other payables 790,115 633,793 20,119 25,566 Amounts owed by subsidiaries - - 29,611 9,145 Total short-term liabilities 1,423,913 1,052,827 558,394 513,651 Amounts owed by associated companies 1,059 1,738 - - Tax receivables - - - 43,317 Total liabilities 1,887,818 1,186,288 1,010,590 636,192 6 Deferred tax assets - - 3,607 4,457 15 Prepayments and accrued income 60,901 37,647 3,127 - Total liabilities and shareholders’ equity 3,010,039 2,102,009 1,942,501 1,397,587 Receivables 1,490,579 1,131,374 44,698 59,411 20 Pledged assets Cash at bank and in hand 415,783 246,333 260,685 160,333 21 Contingent liabilities 22 Operational lease obligations Total current assets 1,906,362 1,377,707 305,383 219,744 23 Auditors’ fee 24 Related parties and ownership Total assets 3,010,039 2,102,009 1,942,501 1,397,587 54 Directors’Annual Report Report [audited] Directors’ Report 55

Balance sheet, assets Balance sheet, liabilities

Group Parent Company Group Parent Company Note DKK thousand 31.12.2007 31.12.2006 31.12.2007 31.12.2006 Note DKK thousand 31.12.2007 31.12.2006 31.12.2007 31.12.2006

Goodwill 870,116 548,938 - - 16 Share capital 35,000 35,000 35,000 35,000 Software, licences, patents, etc. 11,590 7,972 - - Retained earnings 866,661 696,145 866,661 696,145 8 Intangible assets 881,706 556,910 - - Proposed dividend 26,250 26,250 26,250 26,250 17 Total shareholders’ equity 927,911 757,395 927,911 757,395 Property 5,064 4,629 - - Plant and equipment 120,871 96,994 1,738 3,320 Minority interest 12,918 5,147 - - Leasehold improvements 17,856 16,157 - - 9 Property, plant and equipment 143,791 117,780 1,738 3,320 Provision for pensions 70,342 49,658 4,000 4,000 6 Provision for deferred tax 64,465 85,610 - - 10 Investments in subsidiaries - - 1,237,942 1,170,539 Provision for claims, etc. 46,585 17,911 - - 11 Investments in associated companies 7,884 6,180 - - Total provisions 181,392 153,179 4,000 4,000 Amounts owed by subsidiaries - - 391,719 - Amounts owed by associated companies - 600 - - Bank loans 453,803 124,988 452,196 122,541 12 Other investments 7,013 11,288 3,786 3,984 Other payables 10,102 8,473 - Other receivables 30,744 5,483 1,933 - 18 Total long-term liabilities 463,905 133,461 452,196 122,541 13 Deposits 32,539 26,061 - - Investments 78,180 49,612 1,635,380 1,174,523 Bank loans 1,429 1,914 - - 14 Payments from customers 400,916 267,864 - - Total ﬁxed assets 1,103,677 724,302 1,637,118 1,177,843 Trade payables 187,548 121,774 1,730 1,578 Amounts owed to subsidiaries - - 534,640 486,507 Accounts receivables, trade 925,476 751,467 3,066 - Amounts owed to associated companies 1,592 1,659 - - 14 Work in progress 427,874 295,981 - - Corporation tax 42,313 25,823 1,905 - Other receivables 75,269 44,541 5,287 2,492 19 Other payables 790,115 633,793 20,119 25,566 Amounts owed by subsidiaries - - 29,611 9,145 Total short-term liabilities 1,423,913 1,052,827 558,394 513,651 Amounts owed by associated companies 1,059 1,738 - - Tax receivables - - - 43,317 Total liabilities 1,887,818 1,186,288 1,010,590 636,192 6 Deferred tax assets - - 3,607 4,457 15 Prepayments and accrued income 60,901 37,647 3,127 - Total liabilities and shareholders’ equity 3,010,039 2,102,009 1,942,501 1,397,587 Receivables 1,490,579 1,131,374 44,698 59,411 20 Pledged assets Cash at bank and in hand 415,783 246,333 260,685 160,333 21 Contingent liabilities 22 Operational lease obligations Total current assets 1,906,362 1,377,707 305,383 219,744 23 Auditors’ fee 24 Related parties and ownership Total assets 3,010,039 2,102,009 1,942,501 1,397,587 56 Directors’Accounting Report policies [audited] Directors’ Report 57

Accommodating growth Ramboll is gradually growing, so new principal offices in Denmark and Sweden are under construction in order to accommodate our increasing number of employees. New head offices are also planned for the UK, Norway and Finland. Dissing+Weitling, the Accounting policies architects of our future office and notes in Copenhagen, derived their inspiration from the world famous shopping street, La Rambla, in Barcelona.

Basis of preparation Changes in accounting Recognition and The 2007 Annual Report of policies measurement Ramboll Group A/S has been The accounting policies for On initial recognition, assets prepared in accordance with defined benefit pension plans and liabilities are measured the provisions applicable to have been changed. Actu- at cost. Subsequently, assets large enterprises in account- arial gains and losses are now and liabilities are measured as invalidate affairs and condi- ing class C under the Danish recognised immediately in described for each individual tions existing at the balance Financial Statements Act. The the income statement. In prior item below. Certain finan- sheet date. Annual Report is presented in years, such gains and losses cial assets and liabilities are Danish kroner thousands. were deferred under the corri- recognised over the maturity. Basis of consolidation dor approach and recognised Amortised cost is stated as Subsidiaries Except for the changes men- over the expected remaining original cost less any principal Subsidiaries are all entities tioned below under Changes working period for those payments plus or minus the over which Ramboll Group in accounting policies, the covered by the plan. The cumulative amortisation of any A/S has control, i.e. the power accounting policies have been change has been made retro- difference between cost and to govern the financial and consistently applied to all the spectively as of 1 January 2006 the nominal amount. In this operating policies generally years presented and have with a restatement of way capital losses and gains accompanying a shareholding not been changed from prior comparatives. are amortised over the matu- of more than half of the voting years. rity. Recognition and measure- rights. Subsidiaries are fully ment take into consideration consolidated from the date on anticipated losses and risks which control is transferred to that arise before the time of Ramboll Group A/S. presentation of the Annual Report and which confirm or The cost of an acquisition is Associates using the currency of the pri- associates with a functional measured as the fair value of Associates are all entities over mary economic environment currency different from the the assets given, equity instru- which Ramboll Group A/S has in which the entity operates presentation currency of the ments issued and liabilities in- significant influence but not (“the functional currency”). Group are translated into the curred or assumed at the date control, generally accompany- The Group has Danish kroner presentation currency as fol- of exchange plus costs directly ing a shareholding of between as its presentation currency. lows: attributable to the acquisition. 20% and 50% of the voting Foreign currency transactions Identifiable assets acquired rights. Investments in associ- are translated into Danish - assets and liabilities for The impact of changes in accounting policies are as follows: and liabilities assumed in a ates are accounted for by the kroner using the exchange each balance sheet item business combination are equity method of accounting rates prevailing at the dates presented are translated at measured initially at their fair and are initially recognised at of the transactions. Foreign the closing rate at the date Income statement Owners’ equity values at the acquisition date, cost. Ramboll Group’s invest- exchange gains and losses of that balance sheet, irrespective of the extent of ments in associates include resulting from the settlement - income and expenses are any minority interest. The ex- goodwill (net of any accu- of such transactions and from translated at the dates of cess of the cost of acquisition mulated amortisation and/or the translation at year-end the transactions (or approx- 2006 1 January 2006 31 December 2006 over the fair value of Ramboll impairment loss) identified on exchange rates of monetary imate average rates) and Group’s share of the identifi- acquisition. assets and liabilities denomi- - all exchange differences Profit under previous accounting policies 158,049 Owners’ equity under able net assets acquired is nated in foreign currencies arising from the difference Actuarial gains and losses for the period -759 previous accounting policies 611,236 775,692 recorded as goodwill. Foreign currency translation are recognised in the income between closing and Profit under new accounting policies 157, 290 Recognition of unrecognised Functional and presentation statement. average rates and between actuarial losses -17,539 -18,298 Inter-company transactions, ba- currency opening and closing rates Owners’ equity under The effect of the change in accounting policy in 2007 new accounting policies 593,697 757,395 lances and unrealised gains on Items included in the financial Ramboll Group companies are recognised as a sepa- was a profit of DKK 4.2 million. transactions between Group statements of each of Ramboll The results and financial posi- rate component of equity. companies are eliminated. Group’s entities are measured tion of foreign subsidiaries and 56 Directors’Accounting Report policies [audited] Directors’ Report 57

Basis of preparation Changes in accounting Recognition and The 2007 Annual Report of policies measurement Ramboll Group A/S has been The accounting policies for On initial recognition, assets prepared in accordance with defined benefit pension plans and liabilities are measured the provisions applicable to have been changed. Actu- at cost. Subsequently, assets large enterprises in account- arial gains and losses are now and liabilities are measured as invalidate affairs and condi- ing class C under the Danish recognised immediately in described for each individual tions existing at the balance Financial Statements Act. The the income statement. In prior item below. Certain finan- sheet date. Annual Report is presented in years, such gains and losses cial assets and liabilities are Danish kroner thousands. were deferred under the corri- recognised over the maturity. Basis of consolidation dor approach and recognised Amortised cost is stated as Subsidiaries Except for the changes men- over the expected remaining original cost less any principal Subsidiaries are all entities tioned below under Changes working period for those payments plus or minus the over which Ramboll Group in accounting policies, the covered by the plan. The cumulative amortisation of any A/S has control, i.e. the power accounting policies have been change has been made retro- difference between cost and to govern the financial and consistently applied to all the spectively as of 1 January 2006 the nominal amount. In this operating policies generally years presented and have with a restatement of way capital losses and gains accompanying a shareholding not been changed from prior comparatives. are amortised over the matu- of more than half of the voting years. rity. Recognition and measure- rights. Subsidiaries are fully ment take into consideration consolidated from the date on anticipated losses and risks which control is transferred to that arise before the time of Ramboll Group A/S. presentation of the Annual Report and which confirm or The cost of an acquisition is Associates using the currency of the pri- associates with a functional measured as the fair value of Associates are all entities over mary economic environment currency different from the the assets given, equity instru- which Ramboll Group A/S has in which the entity operates presentation currency of the ments issued and liabilities in- significant influence but not (“the functional currency”). Group are translated into the curred or assumed at the date control, generally accompany- The Group has Danish kroner presentation currency as fol- of exchange plus costs directly ing a shareholding of between as its presentation currency. lows: attributable to the acquisition. 20% and 50% of the voting Foreign currency transactions Identifiable assets acquired rights. Investments in associ- are translated into Danish - assets and liabilities for The impact of changes in accounting policies are as follows: and liabilities assumed in a ates are accounted for by the kroner using the exchange each balance sheet item business combination are equity method of accounting rates prevailing at the dates presented are translated at measured initially at their fair and are initially recognised at of the transactions. Foreign the closing rate at the date Income statement Owners’ equity values at the acquisition date, cost. Ramboll Group’s invest- exchange gains and losses of that balance sheet, irrespective of the extent of ments in associates include resulting from the settlement - income and expenses are any minority interest. The ex- goodwill (net of any accu- of such transactions and from translated at the dates of cess of the cost of acquisition mulated amortisation and/or the translation at year-end the transactions (or approx- 2006 1 January 2006 31 December 2006 over the fair value of Ramboll impairment loss) identified on exchange rates of monetary imate average rates) and Group’s share of the identifi- acquisition. assets and liabilities denomi- - all exchange differences Profit under previous accounting policies 158,049 Owners’ equity under able net assets acquired is nated in foreign currencies arising from the difference Actuarial gains and losses for the period -759 previous accounting policies 611,236 775,692 recorded as goodwill. Foreign currency translation are recognised in the income between closing and Profit under new accounting policies 157, 290 Recognition of unrecognised Functional and presentation statement. average rates and between actuarial losses -17,539 -18,298 Inter-company transactions, ba- currency opening and closing rates Owners’ equity under The effect of the change in accounting policy in 2007 new accounting policies 593,697 757,395 lances and unrealised gains on Items included in the financial Ramboll Group companies are recognised as a sepa- was a profit of DKK 4.2 million. transactions between Group statements of each of Ramboll The results and financial posi- rate component of equity. companies are eliminated. Group’s entities are measured tion of foreign subsidiaries and 58 Directors’Accounting Report policies [audited] Directors’ Report 59

Providing detailed of external services and other by elimination against tax on proceeds with the carrying 3D designs in Finland project costs. Staff costs are future earnings or by set-off amount. These are included in Ramboll has prepared the structural design and working not included in project costs. against deferred tax liabilities. the income statement. drawings for a CFB-boiler (Circulating Fluidized Bed) External costs Balance sheet Impairment of assets system in Pori, Finland, using External costs consist of costs Intangible assets The book values of both tan- 3D technology. In the CFB- boiler, fuels like sawdust, such as administration, mar- Goodwill represents the ex- gible and intangible assets, peat, coal and wood chips keting, travel and accommoda- cess of the cost of an acquisi- such as goodwill, are written are combusted in order to tion, office rent, IT costs and tion plus costs directly attri- down if indications of im- provide heating for the other external costs. butable to the acquisition over pairment are present. If the municipal area. During the design process, our the fair value of the Group’s carrying amount is found to engineers prepared more Staff costs share of the net identifiable be greater than the implied than 10,000 3D drawings, Staff costs consist of costs assets of the acquired sub- fair value, then impairment has providing our customer such as wages and salaries, sidiary/associate at the date occurred and the book value with a highly detailed perspective of the plant. pension costs and other social of acquisition. Goodwill in the of the asset is written down to security benefits of employees Group on acquisitions of sub- its recoverable amount. The and costs of the Executive and sidiaries is included in intan- recoverable amount is the Supervisory Boards. gible assets, and is amortised higher of the net selling price over the following expected and value in use. Financial items useful lives. Other intangible Financial income and expen- assets, comprising patents and Leases ses consist of interest income licenses, are capitalised and Leases of property, plant and and expenses, foreign ex- amortised over an appropriate equipment where substan- the contractual rates as labour change gain or loss and other expected useful life, within the tially all the risks and rewards hours are delivered and direct interest income and expenses. ranges shown below. of ownership are transferred expenses are incurred. to the Group are classified as Revenue from fixed-price Corporation and deferred tax The following useful lives are finance leases. Finance leases contracts is recognised under Tax consists of current tax and applied: are capitalised at the lease’s the percentage-of-completion changes in deferred tax for the Goodwill: 5-20 years inception at the lower of the (POC) method. Under the POC year. The tax relating to the Patents and licenses: 3-7 years fair value of the leased prop- method, revenue is generally income for the year is recog- erty and the present value of recognised based on the nised in the income state- Property, plant and the minimum lease payments. services performed to date ment. Current tax receivable equipment, leasehold Lease payments are allocated as a percentage of the total is recognised in the balance improvements between the liability and fi- services to be performed. sheet if excess tax has been Property, plant and equipment nance charges so as to achieve paid on account and a current are measured at historical cost a constant rate of interest on If circumstances arise that may tax payable is recognised if a less accumulated deprecia- the finance balance outstand- change the original estimates deficiency exists. tion. Historical cost includes ing. The corresponding lease of revenues, costs or extent expenditure that is directly obligations, net of finance On consolidation, exchange income statement and the described below. The amount of progress toward comple- Deferred tax is measured by attributable to the acquisition charges, are included in other differences arising from the balance sheet. of revenue is not considered tion, estimates are revised. using the balance sheet liabi- of the items. Depreciation is long-term payables. The inter- translation of the net invest- to be reliably measurable until These revisions may result lity method on all temporary calculated on a straight-line est element of the finance cost ment in foreign entities, and of Income statement all contingencies relating to in increases or decreases in differences arising between basis over the estimated useful is charged to the income state- borrowings and other currency Revenue the sale have been resolved. estimated revenues or costs the book values of assets and lives of the assets. ment. The property, plant and instruments designated as Revenue in the Group consists The Group bases its estimates and are reflected in income liabilities and the amounts equipment acquired under hedges of such investments, of the fair value of the consid- on historical results, taking in the period in which the used for taxation purposes. The following useful lives are finance leases is depreciated are taken to shareholders’ eration received or receivable into consideration the type of circumstances that give rise to Deferred tax is not recognised applied: over the shorter of the useful equity. for the sale of goods and ser- customer, the type of transac- the revision become known by on temporary differences rela- Buildings and land: 10-50 years life of the asset or the lease vices in the ordinary course of tion and the specifics of each management. ting to goodwill not deductible IT: 3 years term taking into consideration Goodwill and fair value adjust- the Group’s activities. Revenue arrangement. for tax purposes. Deferred tax Plant and equipment: 5 years bargain purchase options. ments arising on the acquisi- is shown net of value-added Segment information is measured according to the Leasehold improvements: tion of a foreign entity are tax, returns, rebates and The Group sells services within Information is provided on tax rules and at the tax rates 5-10 years All other leases are classified treated as assets of the foreign discounts and after eliminating engineering, environment, service areas for the Group. that are expected to apply as operating leases. Payments entity and translated at the sales within the Group. management and IT. These The revenue by service area is when the temporary differen- The assets’ residual values made under operating leases closing rate. services are provided on a based on the Group’s seven ces are eliminated. Changes in and useful lives are reviewed, are charged to the income The Group recognises revenue time and material basis or as service areas. Revenue by geo- deferred tax due to changes in and adjusted if appropriate, at statement over the period of Minority interests when the amount of revenue a fixed-price contract, with graphical market is based on the tax rates are recognised in each balance sheet date. the lease. In the statement of Group can be reliably measured, contract terms generally rang- the location of the projects. the income statement. Conversely, property, plant results and Group equity, the it is probable that future ing from less than one year up Deferred tax assets, including and equipment purchased for Receivables elements of the profit and economic benefits will flow to to ten years. Project costs the tax base of tax losses car- DKK 50 or less are expensed. Accounts receivable, trade are equity of subsidiaries attribut- the entity and when specific Project costs consist of costs ried forward, are measured at recognised initially at fair value able to minority interests are criteria have been met for each Revenue from time and mate- directly related to projects, the value at which it is expec- Gains and losses on disposal and subsequently measured stated as separate items in the of the Group’s activities as rial contracts is recognised at such as travel expenses, costs ted that they can be utilised are determined by comparing at cost less provision for 58 Directors’Accounting Report policies [audited] Directors’ Report 59

Providing detailed of external services and other by elimination against tax on proceeds with the carrying 3D designs in Finland project costs. Staff costs are future earnings or by set-off amount. These are included in Ramboll has prepared the structural design and working not included in project costs. against deferred tax liabilities. the income statement. drawings for a CFB-boiler (Circulating Fluidized Bed) External costs Balance sheet Impairment of assets system in Pori, Finland, using External costs consist of costs Intangible assets The book values of both tan- 3D technology. In the CFB- boiler, fuels like sawdust, such as administration, mar- Goodwill represents the ex- gible and intangible assets, peat, coal and wood chips keting, travel and accommoda- cess of the cost of an acquisi- such as goodwill, are written are combusted in order to tion, office rent, IT costs and tion plus costs directly attri- down if indications of im- provide heating for the other external costs. butable to the acquisition over pairment are present. If the municipal area. During the design process, our the fair value of the Group’s carrying amount is found to engineers prepared more Staff costs share of the net identifiable be greater than the implied than 10,000 3D drawings, Staff costs consist of costs assets of the acquired sub- fair value, then impairment has providing our customer such as wages and salaries, sidiary/associate at the date occurred and the book value with a highly detailed perspective of the plant. pension costs and other social of acquisition. Goodwill in the of the asset is written down to security benefits of employees Group on acquisitions of sub- its recoverable amount. The and costs of the Executive and sidiaries is included in intan- recoverable amount is the Supervisory Boards. gible assets, and is amortised higher of the net selling price over the following expected and value in use. Financial items useful lives. Other intangible Financial income and expen- assets, comprising patents and Leases ses consist of interest income licenses, are capitalised and Leases of property, plant and and expenses, foreign ex- amortised over an appropriate equipment where substan- the contractual rates as labour change gain or loss and other expected useful life, within the tially all the risks and rewards hours are delivered and direct interest income and expenses. ranges shown below. of ownership are transferred expenses are incurred. to the Group are classified as Revenue from fixed-price Corporation and deferred tax The following useful lives are finance leases. Finance leases contracts is recognised under Tax consists of current tax and applied: are capitalised at the lease’s the percentage-of-completion changes in deferred tax for the Goodwill: 5-20 years inception at the lower of the (POC) method. Under the POC year. The tax relating to the Patents and licenses: 3-7 years fair value of the leased prop- method, revenue is generally income for the year is recog- erty and the present value of recognised based on the nised in the income state- Property, plant and the minimum lease payments. services performed to date ment. Current tax receivable equipment, leasehold Lease payments are allocated as a percentage of the total is recognised in the balance improvements between the liability and fi- services to be performed. sheet if excess tax has been Property, plant and equipment nance charges so as to achieve paid on account and a current are measured at historical cost a constant rate of interest on If circumstances arise that may tax payable is recognised if a less accumulated deprecia- the finance balance outstand- change the original estimates deficiency exists. tion. Historical cost includes ing. The corresponding lease of revenues, costs or extent expenditure that is directly obligations, net of finance On consolidation, exchange income statement and the described below. The amount of progress toward comple- Deferred tax is measured by attributable to the acquisition charges, are included in other differences arising from the balance sheet. of revenue is not considered tion, estimates are revised. using the balance sheet liabi- of the items. Depreciation is long-term payables. The inter- translation of the net invest- to be reliably measurable until These revisions may result lity method on all temporary calculated on a straight-line est element of the finance cost ment in foreign entities, and of Income statement all contingencies relating to in increases or decreases in differences arising between basis over the estimated useful is charged to the income state- borrowings and other currency Revenue the sale have been resolved. estimated revenues or costs the book values of assets and lives of the assets. ment. The property, plant and instruments designated as Revenue in the Group consists The Group bases its estimates and are reflected in income liabilities and the amounts equipment acquired under hedges of such investments, of the fair value of the consid- on historical results, taking in the period in which the used for taxation purposes. The following useful lives are finance leases is depreciated are taken to shareholders’ eration received or receivable into consideration the type of circumstances that give rise to Deferred tax is not recognised applied: over the shorter of the useful equity. for the sale of goods and ser- customer, the type of transac- the revision become known by on temporary differences rela- Buildings and land: 10-50 years life of the asset or the lease vices in the ordinary course of tion and the specifics of each management. ting to goodwill not deductible IT: 3 years term taking into consideration Goodwill and fair value adjust- the Group’s activities. Revenue arrangement. for tax purposes. Deferred tax Plant and equipment: 5 years bargain purchase options. ments arising on the acquisi- is shown net of value-added Segment information is measured according to the Leasehold improvements: tion of a foreign entity are tax, returns, rebates and The Group sells services within Information is provided on tax rules and at the tax rates 5-10 years All other leases are classified treated as assets of the foreign discounts and after eliminating engineering, environment, service areas for the Group. that are expected to apply as operating leases. Payments entity and translated at the sales within the Group. management and IT. These The revenue by service area is when the temporary differen- The assets’ residual values made under operating leases closing rate. services are provided on a based on the Group’s seven ces are eliminated. Changes in and useful lives are reviewed, are charged to the income The Group recognises revenue time and material basis or as service areas. Revenue by geo- deferred tax due to changes in and adjusted if appropriate, at statement over the period of Minority interests when the amount of revenue a fixed-price contract, with graphical market is based on the tax rates are recognised in each balance sheet date. the lease. In the statement of Group can be reliably measured, contract terms generally rang- the location of the projects. the income statement. Conversely, property, plant results and Group equity, the it is probable that future ing from less than one year up Deferred tax assets, including and equipment purchased for Receivables elements of the profit and economic benefits will flow to to ten years. Project costs the tax base of tax losses car- DKK 50 or less are expensed. Accounts receivable, trade are equity of subsidiaries attribut- the entity and when specific Project costs consist of costs ried forward, are measured at recognised initially at fair value able to minority interests are criteria have been met for each Revenue from time and mate- directly related to projects, the value at which it is expec- Gains and losses on disposal and subsequently measured stated as separate items in the of the Group’s activities as rial contracts is recognised at such as travel expenses, costs ted that they can be utilised are determined by comparing at cost less provision for 60 Directors’Accounting Report policies [audited] Directors’ Report 61

Meetovation Ramboll and VisitDenmark are collaborating on a project looking at developing new meeting concepts in order to attract international meetings and conferences to Denmark. We are working with hotels, conference centres and museums in ways to attract and retain customers by developing concepts for environmentally responsible meetings.

payables their fair value at the balance share of proﬁt before tax. On from investing activities con- Return on invested capital (ROIC) Proﬁt before interest, tax and goodwill amortisation x 100 Prepayments consist of sheet date. Plan assets and acquisition of subsidiaries sist of payments in connection Average invested capital including goodwill

expenses paid relating to sub- related obligations are pre- and associated companies, with acquisitions and disposals Return on equity (ROE) Profit for the year x 100 sequent financial years. Other sented on a net basis in the the difference between the of intangible assets, property, Average equity payables consist of payments balance sheet. cost and the book net assets plant and equipment, and Return on capital employed (ROCE) Operating profit and financial income x 100 received relating to income of the acquired company investments. Cash flows from Average equity and interest-bearing liabilities in subsequent years. Gains and losses arising from is calculated at the date of financing activities consist of Cash conversion ratio Cash flow from operating activities x 100 changes in actuarial assump- acquisition after adjustment repayments on long-term debt Profit before interest, tax and goodwill amortisation (EBITA) Provisions tions are recognised in the to fair value of the identifiable and increase of bank loans. A provision is recognised when year where they arise. assets and liabilities (purchase Cash and cash equivalents Equity ratio (solvency ratio) Total equity x 100 Total assets the Group has a present legal method). Any remaining posi- consist of cash at bank, cash or constructive obligation as Multi-employer plans for tive balances (goodwill) are in hand and current securi- Number of full time Hours registered in time sheets employee equivalents Standard working hours during the year a result of past events and it which sufficient information recognised as investments in ties with a maturity period is probable that an outflow of is not available are treated as subsidiaries or investments in shorter than three months, less Number of employees, end of year Number of all permanent and temporary employees at the end of the year, regardless of their working hours. resources will be required to defined contribution plans. associated companies in the short-term bank loans due on settle the obligation. Provi- balance sheet and amortised demand. The financial ratios have been prepared in accordance with the guidelines of the Danish Society of Financial Analysts sions are recognised for items Financial obligations in the income statement on (Den Danske Finansanalytikerforening). such as legal claims, restruc- Loans from banks that are ex- a straight-line basis over the 60 Directors’Accounting Report policies [audited] Directors’ Report 61

impairment. A provision for turing provisions, pension pected to be held to maturity estimated useful life of the impairment of trade receiv- provisions, deferred tax provi- are recognised on the date of investment. The portion of ables is established when sions and any other necessary borrowing as the net proceeds the subsidiaries’ profits for the there is objective evidence provisions. received less transaction costs year that is not distributed as that Ramboll Group will not be incurred. In subsequent peri- dividend becomes retained able to collect all amounts due Provision for pensions ods, the loans are measured at earnings according to the according to the original terms Contributions payable under amortised cost, corresponding equity method. Other of receivables. defined contribution plans to the capitalised value using securities and investments are recognised as an expense the effective interest rate. recognised as investments Work in progress along with delivery of em- Accordingly, the difference are measured at cost less any Work in progress is measured ployee service giving rise between the proceeds and the reduction according to indi- at the sales price of the work to the obligation to pay the nominal value is recognised in vidual assessment. performed, corresponding contribution. the income statement during to direct and indirect costs the term of the loan. Other Cash flow incurred plus a proportionate Costs under defined benefit financial obligations are mea- The cash flow statement shows share of the expected profit plans are recognised in line sured at amortised cost, which both the Group’s and the calculated on the basis of an with the performance of the corresponds to their nominal parent company’s cash flows assessment of the stage of employee services entitling value. for the year from operating, completion. The sales price is the employees to the benefits. investing and financing activi- reduced by progress billings. The obligation is measured Parent Company ties and also includes cash and Invoices on account beyond at the present value of the Investments cash equivalents at the begin- the stage of completion of expected pension payments Investments in subsidiaries ning and at the end of the year. contracts are calculated sepa- attributable to the services and associated companies are Cash flows from operating rately for each contract and delivered at the balance sheet recognised and measured ac- activities are presented indi- Financial ratios recognised as “payments from date. The obligation is mea- cording to the equity method. rectly and are calculated as the customers” under short-term sured on the basis of actuarial Investments in subsidiaries income for the year adjusted EBITA Margin Profit before interest, tax and goodwill amortisation x 100 liabilities. assumptions, which are re- are recognised in the Parent for non-cash operating items, Revenue assessed on a regular basis. Company’s income state- changes in working capital and Operating margin (EBIT margin) Operating profit x 100 Prepayments and other Plan assets are recognised at ment at the proportionate income taxes paid. Cash flows Revenue payables their fair value at the balance share of profit before tax. On from investing activities con- Return on invested capital (ROIC) Profit before interest, tax and goodwill amortisation x 100 Prepayments consist of sheet date. Plan assets and acquisition of subsidiaries sist of payments in connection Average invested capital including goodwill expenses paid relating to sub- related obligations are pre- and associated companies, with acquisitions and disposals Return on equity (ROE) Profit for the year x 100 sequent financial years. Other sented on a net basis in the the difference between the of intangible assets, property, Average equity payables consist of payments balance sheet. cost and the book net assets plant and equipment, and Return on capital employed (ROCE) Operating profit and financial income x 100 received relating to income of the acquired company investments. Cash flows from Average equity and interest-bearing liabilities in subsequent years. Gains and losses arising from is calculated at the date of financing activities consist of Cash conversion ratio Cash flow from operating activities x 100 changes in actuarial assump- acquisition after adjustment repayments on long-term debt Profit before interest, tax and goodwill amortisation (EBITA) Provisions tions are recognised in the to fair value of the identifiable and increase of bank loans. A provision is recognised when year where they arise. assets and liabilities (purchase Cash and cash equivalents Equity ratio (solvency ratio) Total equity x 100 Total assets the Group has a present legal method). Any remaining posi- consist of cash at bank, cash or constructive obligation as Multi-employer plans for tive balances (goodwill) are in hand and current securi- Number of full time Hours registered in time sheets employee equivalents Standard working hours during the year a result of past events and it which sufficient information recognised as investments in ties with a maturity period is probable that an outflow of is not available are treated as subsidiaries or investments in shorter than three months, less Number of employees, end of year Number of all permanent and temporary employees at the end of the year, regardless of their working hours. resources will be required to defined contribution plans. associated companies in the short-term bank loans due on settle the obligation. Provi- balance sheet and amortised demand. The financial ratios have been prepared in accordance with the guidelines of the Danish Society of Financial Analysts sions are recognised for items Financial obligations in the income statement on (Den Danske Finansanalytikerforening). such as legal claims, restruc- Loans from banks that are ex- a straight-line basis over the 62 Directors’Notes [audited] Report Directors’ Report 63

Notes Notes

Note 1 Segment information Group Note 5 Financial expenses Group Parent Company 2007 2006 2007 2006 2007 2006

Revenue by market area: Interest expense to subsidiaries - - -16,848 -12,392 Buildings 1,427,339 1,096,489 Foreign exchange loss -37,707 -3,220 -34,301 -1,776 Infrastructure 1,044,896 960,665 Other interest expenses -22,014 -16,541 -13,224 -9,068 Industrial processes 90,537 178,756 -59,721 -19,761 -64,373 -23,236 Energy 668,954 394,050 Water & Environment 533,857 504,172 Telecommunications 239,436 272,363 Management 540,719 354,002 Note 6 Tax Group Parent Company Information technology 193,841 184,992 2007 2006 2007 2006 4,739,579 3,945,489 Division between current and deferred tax: Revenue by geographical market: Actual tax, Income statement & Equity -117,64 6 -105,538 6,532 11,220 Denmark 1,497,928 1,371,550 Deferred tax 21,145 23,421 -850 -470 Sweden 899,457 863,918 Tax for the year -96,501 -82,117 5,682 10,750 Norway 910,701 752,802 Finland 456,368 401,221 allocated in the following way: UK 196,841 - Rest of Europe, incl Russia 305,538 198,312 Tax on proﬁt for the year -93,417 -85,358 8,766 7,509 Rest of World 427,74 6 357,686 Tax on equity movements -3,084 3,241 -3,084 3,241 4,739,579 3,945,489 Tax for the year -96,501 -82,117 5,682 10,750

The tax on the Group’s profit before tax differs from the theoretical amount that would arise using the weighted average tax rate applicable to profits of the consolidated companies as follows: Note 2 Staff costs Group Parent Company 2007 2006 2007 2006 Tax calculated at domestic tax rates applicable to profits in the respective countries -82,738 - 47,784 -52,449 -41,939 Employees: Wages and salaries -2,373,580 -1,965,619 -9,615 -6,568 Income not subject to tax 3,428 2,110 68,935 58,006 Pension costs -174,550 -108,520 -1,083 -1,651 Non deductable amortisation of goodwill -14,436 -8,725 -7,078 -7,94 4 Other social security costs -256,794 -227,259 -105 -69 Costs not deductable for tax purposes -2,637 -6,497 -23 4 -2,804,924 -2,301,398 -10,803 -8,288 Other adjustments: Change in tax rate -2,444 - - - Executive Board -8,429 -5,646 -8,429 -5,646 Adjustments of tax regarding prior year 4,748 -20,158 -141 -405 Board of Directors -1,400 -1,400 -1,400 -1,400 Other adjustments 661 -4,305 -478 -213 -2,814,753 -2,308,444 -20,632 -15,334 Tax on equity movements -3,084 3,241 -3,084 3,241 Tax for the year -96,501 -82,117 5,682 10,750 Number of employees: Number of employees end of year 6,964 5,346 21 18 Number of full time employee equivalents 6,385 4,947 20 14 Deferred tax: Goodwill -1,139 570 - - Licenses -4 78 - - Note 3 Depreciation and amortisation Group Parent Company Plant and equipment 2,697 6,439 11 -219 2007 2006 2007 2006 Leasehold improvements 3,027 1,397 - - Accounts receivable, trade 2,392 -632 -350 - Software, licences, patents etc, -3,800 -2,852 - - Work in progress 67,316 92,219 - - Leasehold improvements -5,831 -3,446 - - Deferred expenses -11,851 -23,149 3,946 4,676 Buildings -107 -57 - - Provisions 2,027 8,688 - - Plant and equipment -48,169 -44,482 -941 -752 Deferred tax, liabilities 64,465 85,610 - - Depreciation and amortisation -57,907 -50,837 -941 -752 Deferred tax, assets - - 3,607 4,457 see note 8 and 9 Deferred tax is allocated using the actual tax rate.

Goodwill -56,584 -40,055 - - Reconciliation of tax: Goodwill amortisation -56,584 -40,055 - - Proﬁt before tax 315,126 244,731 209,795 149,781 see note 8 Permanent differences -25,447 -9,116 -234,996 -190,381 -114,491 -90,892 -941 -752 Changes in deferred tax incl. changes in tax rate 89,259 98,865 1,489 1,679 378,938 334,480 -23,712 -38,921 Weighted average applicable tax rate 25% 25% 24% 28% Tax for the year -96,501 -82,117 5,682 10,750 Note 4 Financial income Group Parent Company 2007 2006 2007 2006

Interest income from subsidiaries - - 11,710 6,378 Interest income from securities 196 265 196 198 Foreign exchange gain 12,247 2,465 9,260 2,122 Other interest income 14,972 7,742 8,482 - 27,415 10,472 29,648 8,698 62 Directors’Notes [audited] Report Directors’ Report 63

Notes Notes

Note 1 Segment information Group Note 5 Financial expenses Group Parent Company 2007 2006 2007 2006 2007 2006

Interest income from subsidiaries - - 11,710 6,378 Interest income from securities 196 265 196 198 Foreign exchange gain 12,247 2,465 9,260 2,122 Other interest income 14,972 7,742 8,482 - 27,415 10,472 29,648 8,698 64 Directors’Notes [audited] Report Directors’ Report 65

Notes Notes

Note 7 Acquisition of companies Group Note 10 Investments in subsidiaries Group 2007 2006 2007 2006

Fixed assets -27,360 -11,311 Work in progress -44,052 -5,991 Opening acquisition value 1,303,572 1,292,155 Operating receivables -173,776 -19,885 Additions 2,217 3,598 Cash and cash equivalent -104,278 -20,216 Reclassification -2,535 -18,122 Long-term liabilities 67,082 202 Exchange rate adjustment -31,629 25,941 Current liabilities 207,924 26,688 Closing acquisition value 1,271,625 1,303,572 Group goodwill -376,368 -42,076 Minority -137 1,098 Opening revaluation value -133,033 -200,406 Paid purchase price -450,965 -71,491 Reclassifications - 30,213 Cash in acquired companies 91,230 19,750 Share of profit for the year 275,738 206,404 Acquisition of companies -359,735 -51,741 Dividend paid -156,017 -133,514 Amortisation group goodwill -28,313 -28,372 Foreign exchange adjustments 7,942 -7,358 Revaluation closing balance -33,683 -133,033 Note 8 Intangible assets Group Parent Company

2007 2006 2007 2006 2007 2006 2007 2006 Book value at 31 December 1,237,942 1,170,539 Goodwill Intangible Goodwill Intangible

assets assets Specification of Parent Company’s shareholdings in group companies % of Share Share of Share of Opening acquisition value 721,406 662,596 25,065 20,892 - - - - capital capital Equity profit profit for Additions from acquired companies - 139 642 680 - - - - and votes DKK 1,000 DKK 1,000 before tax the year Additions 376,368 42,076 8,566 3,522 - - - - Disposals - -3,100 -1,694 - - - - - Name and registered office Exchange rate adjustment -2,902 19,695 -75 -30 - - - - Directly owned Closing acquisition value 1,094,872 721,406 32,504 25,064 - - - - Rambøll Danmark A/S, Virum, Denmark 100 35,000 254,084 146,966 117,538

Ramböll AB, Stockholm, Sweden 100 47,503 268,884 83,618 60,591 Opening amortisation -172,468 -132,011 -17,093 -14,244 - - - - Rambøll Norge AS, Oslo, Norway 100 3,620 121,072 76,326 51,866 Reclassiﬁcation - 2,650 - -52 - - - - Ramboll Finland Oy, Helsinki, Finland 100 1,789 92,398 44,190 30,946 Amortisation, acquired companies ------Rambøll Management A/S, Århus, Denmark 100 2,500 53,783 20,040 14,948 Disposals - - -301 - - - - - Ramboll UK Holding Ltd. 100 1 -7,411 -4,698 -10,148 Amortisation of the year -56,584 -40,055 -3,800 -2,852 - - - - Rambøll Informatik A/S, Virum, Denmark 100 5,000 30,283 15,897 11,811 Exchange rate adjustment 4,296 -3,052 280 56 - - - - Ramboll Latvija, Riga, Latvia 100 21 -760 -590 -502 Closing amortisation -224,756 -172,468 -20,914 -17,092 - - - - UAB Ramboll, Vilnius, Lithuania 100 65 -1,921 -2,173 -2,173

Ramboll Eesti AS, Tallinn, Estonia 100 957 2,105 393 393

ZAO Ramboll, St Petersburg, Russia 65 1 5,585 1,053 439 Book value at 31 December 870,116 548,938 11,590 7,972 - - - - Ramboll Polska Sp. z.o.o. 100 - 85 48 29

818,187 381,070 275,738 Amortisation period (years) 5-20 3-7 - - Goodwill 31 December 2007 419,755 - - Amortisation - -28,313 -28,313 Note 9 Property, plant and equipment Group Parent Company 1,237,942 352,757 247,425 Property Plant and Leasehold Property Plant and Leasehold equipment improvements equipment improvements Equity in subsidiaries, DKK 818,187 thousand, and booked value of goodwill, DKK 419,755 thousand, amounts to DKK 1,237,942 thousand.

Opening acquisition value 5,149 487,508 34,770 - 4,372 - Purchases 10 53,509 6,912 - 150 - Additions from acquired companies 484 19,396 4,491 - - - Additions ------Disposals - -27,857 -10,932 - -1,399 - Exchange rate adjustments 48 1,514 -2,762 - - -

Closing acquisition value 5,691 534,070 32,479 - 3,123 - - Opening depreciation -520 -390,514 -18,613 - -1,052 - Depreciation, acquired companies - - - - Disposals 25,484 9,821 - 608 - Depreciation for the year -107 -48,169 -5,831 - -941 - Exchange rate adjustments ------Closing depreciation -627 -413,199 -14,623 - -1,385 -

Book value at 31 December 5,064 120,871 17,856 - 1,738 -

Net book value of ﬁnance leases ------Depreciation period (years) 10-50 3-5 10 - 3-5 - The fair value of the ﬁnance leases represent TDKK 21,634 compared with the book value TDKK 21,198. 64 Directors’Notes [audited] Report Directors’ Report 65

Notes Notes

Note 7 Acquisition of companies Group Note 10 Investments in subsidiaries Group 2007 2006 2007 2006

2007 2006 2007 2006 2007 2006 2007 2006 Book value at 31 December 1,237,942 1,170,539 Goodwill Intangible Goodwill Intangible

Ramboll Eesti AS, Tallinn, Estonia 100 957 2,105 393 393

ZAO Ramboll, St Petersburg, Russia 65 1 5,585 1,053 439 Book value at 31 December 870,116 548,938 11,590 7,972 - - - - Ramboll Polska Sp. z.o.o. 100 - 85 48 29

Book value at 31 December 5,064 120,871 17,856 - 1,738 -

Net book value of ﬁnance leases ------Depreciation period (years) 10-50 3-5 10 - 3-5 - The fair value of the ﬁnance leases represent TDKK 21,634 compared with the book value TDKK 21,198. 66 Directors’Notes [audited] Report Directors’ Report 67

Notes Notes

Note 11 Investments in associated companies Group Parent Company Note 14 Work in progress Group 2007 2006 2007 2006 2007 2006

Opening acquisition value 6,788 6,826 - - Selling price of production at the end of the year 5,293,288 3,859,361 Additions - - - - Invoicing on account -5,083,809 -3,747,627 Reclassifications - - - - Invoicing on account higher than the selling price transferred to liabilities -182,521 -83,617 Disposals - -45 - - Contract work in progress, net 26,958 28,117 Foreign exchange adjustments - 7 - - Closing acquisition value 6,788 6,788 - - Recognised in balance sheet as follows: Contract work in progress 427,874 295,981 Opening revaluation value -608 -1,065 - - Payments from customers 400,916 267,864 Reclassifications - - - - Disposals - - - - Write-down of shares - - - - Profit for the year 2,256 1,196 - - Note 15 Prepayments and accrued income Group Parent Company Goodwill amortisation - - - - 2007 2006 2007 2006 Foreign exchange adjustments -552 -224 - - Other adjustments -515 - - Prepaid rent 15,949 8,038 135 - Revaluation closing balance 1,096 -608 - - Prepaid insurance 3,008 1,351 - - Prepaid interest 74 - - - Book value at 31 December 7,884 6,180 - - Accrued income 9 - - - Other prepayments 41,861 28,258 2,992 - Book value 31 December 60,901 37,647 3,127 - Name and registered office % of capital and votes Equity, DKK thousand Profit for the year

L&T Ramboll Ltd., India 50 12,502 4,157 ViaNova Systems Danmark A/S, Århus 35 2,528 1,029 Note 16 Share capital Odeon A/S, Lyngby 20 761 4 2007 2006 2005 2004 2003 Feheily Timoney Ramboll Limited, Ireland 50 709 694 Finnroad Oy, Helsinki, Finland 26 1,260 -596 The share capital of DKK 35,000,000 consists of 350,000 shares Brokonsult, Täby, Sweden 50 479 - with a nominal value of DKK 100 each or multiples thereof. Element Energy Ltd., UK 33 - - None of the shares carry any special rights. A complete list over all associated companies can be obtained from Ramboll Group A/S. Number of shares 350,000 35,000 35,000 35,000 35,000 Nominal value 100 1,000 1,000 1,000 1,000 Share capital, DKK 35,000 35,000 35,000 35,000 35,000 Note 12 Other investments Group Parent Company 2007 2006 2007 2006

Opening acquisition value 11,288 6,304 3,984 4,323 Note 17 Total equity Share Retained Proposed Additions 76 5,598 - - capital earnings dividend Total Additions from acquired companies 1,474 - - - Disposals -5,622 -275 - - Total equity at 1 January 2006 35,000 570,986 5,250 611,236 Exchange rate adjustment -203 -339 -198 -339 Change in accounting policy - -17,539 - -17,539 Book value at 31 December 7,013 11,288 3,786 3,984 Adjusted equity at 1 January 2006 35,000 553,447 5,250 593,697

Exchange rate adjustments related to foreign subsidiaries and associates - 19,991 - 19,991 Value adjustment of hedging instruments - -11,575 - -11,575 Note 13 Deposits Tax effects - 3,241 - 3,241 Group Parent Company Paid dividend - - -5,250 -5,250 2007 2006 2007 2006 Proposed dividend - -26,250 26,250 - Change in accounting policy - 759 - 759 Opening acquisition value 26,061 24,246 - - Proﬁt for the year - 156,523 - 156,532 Purchases 5,533 - - - Book value at 31 December 2006 35,000 696,145 26,250 757,395 Additions from acquired companies 872 3,647 - - Disposals -425 -1,832 - - Exchange rate adjustments related to foreign subsidiaries and associates - -13,468 - -13,468 Fair value adjustment 498 - - - Value adjustment of hedging instruments - -5,243 - -5,243 Book value at 31 December 32,539 26,061 - - Tax effects - -3,084 - -3,084 Paid dividend - - -26,250 -26,250 Proposed dividend - -26,250 26,250 - Proﬁt for the year - 218,561 - 218,561 Book value at 31 December 2007 35,000 866,661 26,250 927,911

66 Directors’Notes [audited] Report Directors’ Report 67

Notes Notes

Note 11 Investments in associated companies Group Parent Company Note 14 Work in progress Group 2007 2006 2007 2006 2007 2006

68 Directors’Notes [audited] Report Directors’ Report 69

Notes Notes

Note 18 Long term liabilities Group Parent Company Note 22 Operational lease obligations Group Parent Company 2007 2006 2007 2006 2007 2006 2007 2006

Due after 5 years (2013- ) 400 820 - - Operational lease obligations: Due 1-5 years (2007-2011) 463,505 132,641 452,196 122,541 Due within 1 year 30,575 17,331 - - Book value 31 December 463,905 133,461 452,196 122,541 Due within 2 years 24,966 10,727 - - Due within 3 years 18,068 4,493 - - Of which ﬁnance leases 4,037 5,939 - - Due within 4 years 7,150 666 - - Due within 5 years 8,705 288 - - Due after 5 years 5,070 34 - -

Note 19 Other payables Group Parent Company Rent obligations: 2007 2006 2007 2006 Due within 1 year 135,099 127,360 - - Due within 2 years 108,442 108,646 - - Holiday pay 256,627 233,026 1,118 759 Due within 3 years 123,275 100,255 - - VAT 113,994 111,608 -762 - Due within 4 years 119,903 95,629 - - Social security contributions 32,552 31,791 32 26 Due within 5 years 108,656 80,474 - - Payroll tax 38,760 26,031 - - Due after 5 years 580,726 420,387 - - Pension insurance 8,546 6,576 - - Accrued salaries 202,968 148,368 2,641 3,300 The Group has some lawsuits. Management conﬁrms that they have no material effect on the Group’s ﬁnancial statements. Ramboll Group A/S is jointly taxed with a number Accrued expenses 128,046 42,166 15,449 21,481 of its domestic subsidiaries. The parent company provides for the aggregate Danish tax payable on the taxable income of these subsidiaries. The jointly taxed companies are Other items 8,622 34,227 1,641 - included in the scheme for payment of tax on account. The jointly taxed domestic companies have joint and several liabilities for tax in connection with the joint taxation. Book value 31 December 790,115 633,793 20,119 25,566

Of which ﬁnance leases 3,307 3,371 - - Note 23 Auditors’ fee Group Parent Company 2007 2006 2007 2006

Note 20 Pledged assets Group Parent Company Paid fees to auditors: 2007 2006 2007 2006 Audit fees Fees to PricewaterhouseCoopers 4,726 3,448 300 300 Assets pledged to secure provisions: Fees to other audit ﬁrms 326 304 - - Assets with ownership reservations 3,984 3,984 3,984 3,984 Total fees 5,052 3,753 300 300

Assets pledged to credit institutions: Non-audit fees Assets with ownership reservations 30 34,214 - - Fees to PricewaterhouseCoopers 2,275 1,706 299 702 Other pledged assets - 500 - - Fees to other audit ﬁrms 827 1,229 - 316 Assets with ownership reservations 4,014 38,698 3,984 3,984 Total fees 3,102 2,935 299 1,018

Note 24 Related parties and ownership Note 21 Contingent liabilities Group Parent Company 2007 2006 2007 2006

Pension commitments 46,660 45,515 45,748 45,515 Transactions Surety given, subsidaries 158,833 200,896 140,102 200,896 There have been no transactions with the Board, Executive Board, Managers and other key employees, major shareholders, associated companies Surety given, others 8,456 430 - - or other related parties except on normal commercial terms. Performance and payments bonds 118,948 145,620 - - Other contingent liabilities 10,235 20,392 1,000 1,000 Ownership 343,132 412,852 186,850 247,411 Ramboll Group A/S is controlled by Rambøll Fonden (Ramboll Foundation), Bredevej 2, 2830 Virum, Denmark which owns 94% of the shares. The board of the Ramboll Foundation consists of present and former employees. Employees in Ramboll owns the rest of the shares, 6%. Ramboll offers shares to all employees with more than two years seniority under certain conditions.

The number of shares offered to the employees in connection with the Ramboll Share Scheme 2008 is subject to a total maximum of 12% of the outstanding shares of Ramboll Group A/S which corresponds to 42,000 shares.

Number of shares at 31 December 2007: Owned by the Foundation 327,984 94% Owned by employees 22,016 6% Number of shares at 31 December 2007 350,000

68 Directors’Notes [audited] Report Directors’ Report 69

Notes Notes

Note 18 Long term liabilities Group Parent Company Note 22 Operational lease obligations Group Parent Company 2007 2006 2007 2006 2007 2006 2007 2006

Of which ﬁnance leases 3,307 3,371 - - Note 23 Auditors’ fee Group Parent Company 2007 2006 2007 2006

Note 24 Related parties and ownership Note 21 Contingent liabilities Group Parent Company 2007 2006 2007 2006

Number of shares at 31 December 2007: Owned by the Foundation 327,984 94% Owned by employees 22,016 6% Number of shares at 31 December 2007 350,000

70 Directors’List of awards Report

List of awards

The Samuel Arnold Greeley Award RIBA award - National The Gazelle award Recipient Vibeke Lindberg Recipient Ramboll Whitbybird Recipient Ramboll Oil & Gas, Qatar Birkelund, Ramboll Denmark Comments Formby Pool in the UK Comments To be considered for Comments Awarded by the Journal this distinguished award given by of Environmental Engineering for a Buildings services journal the Danish financial newspaper ground-breaking article (Grund- sustainable designer/consultant “Børsen” and the Danish Bank vandsrensning gennem jern) award 2007 “Jyske Bank”, a company must have Recipient Ramboll Whitbybird doubled its turnover over the past Idea competition initiated by four years Realdania on the future of The 2007 Wood awards - Gold agricultural buildings award The Gazelle award Recipient Ramboll Denmark Recipient Ramboll Whitbybird in Recipient Ramboll Oil & Gas, Comments 1st prize was won in particular the Bristol office’s struc- Norway collaboration with Pluskontoret, tures team Comments To be considered for Schønherr Landskab, MT Højgaard, Comments Formby Pool (this build- this distinguished award given by Poul Erik Nielsen, Karl Vestergaard ing was named ‘the Best Commer- “Dagens Næringsliv” and “Dun & Nielsen, Danish Farmdesign cial & Public Access Building’) Bradstreet”, a company must have doubled its turnover over the past Swedish “Teknik og Design Sunday Times Top 100 Companies four years Tävling” for younger consultants To Work For 2008 Recipient Mattias von Bromssen, Recipient Ramboll Whitbybird Awarded by Innovation Norway Ramboll Sweden Comments Ranked 26th for the best propositions Comments Sustainability of com- Recipient Ramboll Management, munity driven initiatives to target Environmental Architectural Design Norway arsenic safe groundwater as a drink- of the year Comments “Rural based tourism” ing water source in Bangladesh Recipient Ramboll Finland and “Young entrepreneur’s Comments Renewed the park and qualification needs” Gold medal for the celebration churchyard in the city of Hämeen- garden “A Tribute to Linnaeus” linna – 1st prize Hamburg’s consulting prize Recipient Ulf Nordfjell, Ramboll Recipient Ramboll Management, Sweden Design competition Germany Comments Handed out at Suurpelto - Kehä II noise wall Comments 3rd prize the Chelsea Flower Show by Recipient Ramboll Finland Queen Elizabeth II Comments Invitation competition in the city of Espoo – 1st prize Sigge Thernwall’s Construction Award, adm. by Ramboll Sweden Reward Competition of the Recipient Roger Nilsson, and Rolf Association of Finnish Civil Lindström, Skanska Teknik. Engineers RIL ry. Comments Great progress with Recipient Ramboll Finland “silent asphalt”, which minimises Comments Water and enviroment noise from vehicles on roads. The program in the countryside of project has revolutionised the need Ethiopia – divided 2nd prize for noise reduction in road projects, and has attracted a lot of interna- Environmental Impacts Assessment tional attention of the year Recipient Ramboll Finland SBUF’s Innovationspris och Comments Improvement of the ByggOpus 20:06 service standards on the railway Recipient Sofie Engström, section Seinäjoki-Oulu Ramboll Sweden Comments Award for best thesis - The building sector’s Innovation “Experience feedback in the design Award – “The free mind” phase of building projects” Recipient Viggo André Bjerkelund, Ramboll Norway RIBA award - International Comments An analysis of a system Recipient Ramboll Whitbybird for ozonation and biofiltration of Comments The British Embassy in drinking water Sana’a, Yemen 70 Directors’List of awards Report

List of awards

Norway Rambøll Norge AS Engebrets vei 5 P.O. Box 427 Skøyen N-0213 Oslo Tel. +47 2251 8000 www.ramboll.no

2007--- Ramboll Group A/S Group Ramboll

Annual Report

Ramboll Group A/S Annual Report 2007 Knowledge taking people furtherpeople taking Knowledge Including the customer in our work processes When developingsolutions for our customers, Ramboll’s engineers make use of a range of techniques in order to search for optimal outcomes. In the initial idea phase, our engineers usually prepare handmade drawings of theirhelp proposals visualisation to for the customer. Our application of 3D technologiesthe design during phase enables more people to be involved, and ensures that thepossible best solutions and excellent results are reached. In the ﬁnal phase, modelsof the design will often be prepared to give the customer the opportunityexperience to the ﬁnished design in real life.