ANNUAL REPORT 2010 SOLUTIONS FOR LIFE Ramboll is a leading engineering, design and consultancy company founded in Denmark in 1945. Today, we employ close to 9,000 experts and we constantly strive to achieve inspiring and exacting solutions that make a genuine difference to our customers, the end-users and society as a whole. www.ramboll.com Cover: Illustration used as graphic identity for the Ramboll Urbanisation Event 2010 symbolising cities. Ramboll Group A/S Danish CVR No. 10160669 City of Copenhagen, Denmark Date of Annual General Meeting: 22 March 2011 ANNUAL REPORT 2010 3 Interview with Group CEO 4 Results Profile 8 Key statistics 9 Directors’ Report 10 Activities Innovating solutions for modern living 18 Nurturing community partnerships 28 Promoting inspirational and longstanding design 36 Financial Status Accounting policies 43 Financial statements 50 Notes 54 Management’s statement on the Annual Report 66 Independent Auditor’s Report 67 Board of Directors 68 Executive Board 69 Group Directors’ Forum 70 4 INTRODUCTION INTERVIEW WITH GROUP CEO BECOMING A PARTNER TO THE GLOBAL COMMUNITY 2010 marks another year full of inspirational projects and interesting cooperation possibilities. Also, the ever growing and increasingly international market position of our company has been strengthened. With a strong vision of where we are heading, ambitions are high for the future. CEO Flemming Bligaard Pedersen that have not previously been seen. By can look back on a year with significant working on such projects, our employees accomplishments for Ramboll. We have set new industry standards for future strengthened our customer relations projects, and this benefits our customers, “As a business leader, and partnerships, and throughout the our industry, and society at large.” I see it as my most important job to organisation, our 9,000 engineers and do exactly this – to consultants have worked on several Pursuing ambitions initiate change. large and innovative projects. When asked about this year’s financial To lead a business is result, Flemming Bligaard Pedersen’s reply very different from managing a business. Pioneering solutions for is prompt. Leadership is basically groundbreaking challenges “Everything considered, our year-end about motivating To highlight a few projects, Ramboll was result is satisfactory. As always, the people, and you chosen as the engineering consultant for result is reflective of both external and can’t force anyone to be motivated – the new iconic National Museum of Art, internal influences. The market has proven they have to trust the Architecture and Design in Oslo, Norway. to be more volatile than anticipated, direction in which We were appointed lead design consultant and internally, we continue to strive to you are heading. ” on the redevelopment of Pulkovo Airport strengthen our business,” he says. “Still, the in St. Petersburg, Russia – one of the result shows that we are on the right track.” most ambitious aviation projects currently As with many other companies, the underway in Europe. In the Telecom area, financial crisis caused Ramboll to closely Ramboll signed a new five-year framework examine its strategy and daily operation. agreement to continue cooperation with During difficult times, it becomes clear Chinese giant, Huawei – thereby expanding which adjustments need to be made in the the scope for cooperation in markets in organisation. Flemming Bligaard Pedersen Sub-Saharan Africa. says about the lessons learned during the “Furthermore, our innovative engineering downturn: “We have experienced many design for an immersed tunnel under great results from our efforts in 2010, but Fehmarnbelt became the selected solution,” we are also convinced that more can be Flemming Bligaard Pedersen says. “These done. All change is a process – and time are all spectacular and important projects is needed to allow change to take effect that strengthen our ability to attract and within the organisation. retain the best people to work at Ramboll. As a business leader, I see it as my most These large projects also boost innovation, important job to do exactly this – to initiate as many of them represent challenges change. To lead a business is very different ANNUAL REPORT 2010 5 from managing a business. Leadership is projects is also very much about teamwork. basically about motivating people, and you We should be able to undertake any can’t force anyone to be motivated – they challenge or project – either by bringing have to trust the direction in which you are together experts from within Ramboll heading. So agreement on the direction or drawing on collaboration partners, must remain clear, and therefore we have a and together solve the issues in relation “The biggest strong focus on the full implementation of to the community they are part of.” challenges the world is currently facing our strategy.” – such as climate There is always this grey zone around a Paving the way for smooth operations change, lack of natural strategy and its scope. An important lesson During 2010, focus was on further resources, pollution, is to be really focused and stick very closely enhancing Ramboll’s platform for providing ageing population, urban migration and to the strategy. If too many initiatives are state-of-the-art solutions for all the projects mega cities – are all not fully aligned with the strategy, the we are involved in. global challenges energy is lost and efforts become scattered. “The solutions that we are able to provide that can’t be solved “When difficult times hit, you’ll be to our customers stem from the creativity, locally. This is why Ramboll has to be directly confronted with this. It’s important insight and integrity of the people within able to provide global to back up your ambitions with actions our organisation. To ensure continuous solutions, drawing directly supporting the overall objective. employee development, a global ‘Ramboll on global expertise This does not mean that there is no room Academy’ was launched in 2010. and experience across disciplines and for creativity, but we have to ensure that geographies to solve everything we do supports the overall these challenges.” direction we want to take – it’s about transforming creativity into innovation,” Flemming Bligaard Pedersen explains. Holistic community consultant The ambition of becoming a partner for the global community remains our most important goal. The key is to have a holistic view on the world and the solutions required. “The biggest challenges the world is currently facing – such as climate change, lack of natural resources, pollution, ageing population, urban migration and mega cities – are all global challenges that can’t be solved locally. This is why Ramboll has to be able to provide global solutions, drawing on global expertise and experience across disciplines and geographies to solve these challenges,” Flemming Bligaard Pedersen says. “However, being a community consultant who claims to hold some of the solutions to the world´s challenges also means seeking to influence the social debate and to share our solutions. We do so by opening our doors for the surrounding community whenever we can, and through participation in debates, events and meetings in the markets where we operate.” On a more operational level, Ramboll’s core competence is to develop and manage projects, and this is an area that can never get too much focus, according to Bligaard Pedersen: “We always need to have the skills required to provide solutions for small or large projects, but working on 6 INTRODUCTION INTERVIEW WITH GROUP CEO The Academy programme takes “The new Head Office also represents a strategic approach to leadership, a showcase of our capabilities. Several competency and business development. It Ramboll experts have been deeply involved not only professionalises the skills of our with creating a sustainable office building employees, but it develops the attitude exemplifying that it’s possible to create “It’s a natural needed to take Ramboll forward,” says architecturally interesting buildings while consequence of our Flemming Bligaard Pedersen. not compromising the overall sustainability vision and strategy The ability to quickly identify the most and economy.” that our head office – which is also our qualified employees or project lessons Additionally, in several locations around single largest work across Ramboll is crucial for delivering the the world we have upgraded our existing space – is a visionary, best possible solutions to our customers. offices and in Sweden and Norway, we have innovative and This is why a common Knowledge recently moved into new main offices. inspiring building.” Management platform, RamLink, was introduced in the majority of Ramboll’s Future aspirations business units in 2010. The remaining units Ramboll has now managed to comply with will be joining in early 2011. Additionally, the the new market agenda in a reasonable way, development of a common ERP (Enterprise Flemming Bligaard Pedersen concludes. Resource Planning) system to manage time During 2011, the company is expected and resources more efficiently is on its way. to reach the level of profit from before the economic downturn. “This is an ambitious New surroundings as a showcase target,” Flemming Bligaard says. “But for engineering we have come quite a long way already, In 2010, we moved in to a new Head Office and during 2011, we’ll pursue the further in Copenhagen. professionalisation of our business. We’ll “It’s a natural consequence of our vision optimise and improve within all areas; our and strategy that our head office – which functions, systems, projects and cross- is also our single largest work space – is a organisational cooperation.” visionary, innovative and inspiring building. Ramboll also wants to come closer to It is located right in the middle of the fulfilling the strategic ambition of becoming largest intersection in the Nordic region, a global community consultant. “We plan to and we can see various engineering and expand geographically, as well as expand consultancy disciplines just by looking out our holistic expertise.