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Main Page arrow News arrow Ballast Nedam 2023 Annual Report

Ballast Nedam 2023 Annual Report

22 May 2024
Ballast Nedam remain dedicated to build a better living environment, mainly in the Netherlands but also exploring international possibilities.

For German, please click: Ballast Nedam 2023 Jahresbericht
For Dutch, please click: Ballast Nedam Jaarcijfers 2023

Ballast Nedam Annual Report 2023

In 2023, Rönesans Holding’s group company in the Netherlands, Ballast Nedam, demonstrated resilience in the face of economic challenges, achieving success in the construction market. 

Ballast Nedam actively addresses the urgent challenges of climate change through sustainable construction practices and future-proof solutions, contributing to global transitions in energy, water, mobility, and circularity. 

Ballast Nedam remain dedicated to build a better living environment, mainly in the Netherlands but also exploring international possibilities. Looking ahead, Ballast Nedam’s strategy prioritises a healthy, stable company, ensuring continuity and success for the future.

Financial Highlights 

Ballast Nedam boasts a well-diversified project portfolio, with the majority of business units making positive contributions to the financial performance. This is visible in the increased EBITDA and solvency ratio, while revenues and net result were lower compared with 2022.

Reflecting on the broader industry landscape, macroeconomic and legislative challenges have introduced uncertainties. These factors have also impacted Ballast Nedam’s profitability and operations. With a good level of orderbook with focus on the quality of the order intake, Ballast Nedam is confident to continue to deliver solid results.

Project Highlights 

Ballast Nedam’s project highlights provide an extensive overview of diverse projects undertaken by the combined efforts of the business units. It highlights the versatility in industrial, infrastructure, residential, international, urban development and construction initiatives. In 2023, Ballast Nedam celebrated numerous milestones, including the completion of the AMST housing project, the completion of BREEAM project Jonas, the high rise CoolTower, renovation project Mindlabs, the immersion of the Maasdeltatunnel and significant progress in many other projects.

Risk Management 

Ballast Nedam prioritises risk management to safeguard strategic objectives and ensure operational excellence in the construction sector. Their strategies address strategic, operational, financial, and compliance risks, guided by the ‘COSO’ management model. We employ a three lines of defence model integrating project managers, legal, insurance, compliance, and CSR. Monitoring and mitigation strategies involve business control, finance, and operational risk departments. Ballast Nedam’s efforts focus on client engagement, sustainability initiatives, and staff training to manage risks effectively while remaining compliant with regulations and adapting to external factors. 

Future endeavours will focus on enhancing risk management protocols, addressing supply chain risks, and complying with evolving sustainability regulations.

Sustainability Performance 

With ambitious targets for CO2 neutrality by 2030 and a focus on collaboration and transparency across all emission scopes, Ballast Nedam is on its way towards a sustainable future in construction. 

Ballast Nedam embrace the expanded possibilities of collaborating closely with clients to understand their climate adaptation opportunities and challenges. Furthermore, they observe a growing dedication to embracing circular practises in construction, as a result of pressures on the availability and affordability of construction materials. Ballast Nedam also see increased commitments geared towards prioritising biodiversity preservation and pollution prevention. 

Performance numbers

  • CO2 emissions (Scopes 1 and 2) in 2023: 14,948 tonnes; 
  • Percentage of green electricity related to the total electricity purchased: 98.2%; 
  • Percentage reduction in CO2 emissions (Scopes 1 and 2) from 2019 to 2023: 41.7%; 
  • CO2 emissions (tonnes) per € million of revenue in 2023: 13.4; 
  • Percentage of own power supply provided through solar energy in 2023: 11.8%.

Digital Transformation & Innovation Performance 

The focus theme Digital Transformation and Innovation (DTI) outlines Ballast Nedam’s proactive approach to integrating digitalization and innovation across its operations. It emphasizes the role of emerging technologies like AI, robotics, and advanced building methods in enhancing efficiency, sustainability, and quality. Through strategic realignment, Ballast Nedam aim to optimise internal processes and drive innovation, with a particular focus on improving project management tooling and processes. Initiatives include further development of Building Information Modelling (BIM), investing in robotic solutions to address labour shortages, and leveraging data digitalisation for better decision-making. 

Safety Performance 

Ballast Nedam’s pursuit of safety excellence is based on creating a culture of care, and consists of a value driven safety approach. Through the safety program Take Care, Ballast Nedam encourage everyone to be alert, to take action, and to address each other about safe and unsafe situations. They have been able to substantially decrease the number of accidents, meeting their overall injury frequency (IF) ratio target of 3,5. Key accomplishments included a decrease in absolute lost-time incidents from 62 in 2022 to 37 in 2023, and a decline in severity. 

Looking ahead, Ballast Nedam will address mental health and well-being, recognising its pivotal role in organisational resilience and employee satisfaction. 

 Click here to review the entire 2023 Ballast Nedam Annual Report.

About Rönesans Group

Rönesans Holding, the conglomerate's top investment entity headquartered in Ankara, is the 38th largest international contracting company globally and the 9th largest in Europe. With operations spanning 30 countries across Europe, Central Asia, and Africa, including subsidiaries such as Ballast Nedam in the Netherlands and Heitkamp Industrial Solutions GmbH in Germany, Rönesans has been operating as the main contractor and investor successfully for 30 years in construction, real estate development, healthcare and energy. Putting resilience and growth through innovation at the core of the company, with a priority on sustainability and social development, Rönesans has developed projects supporting students with scholarships, academic platforms and initiatives; been a signatory of the UN Global Compact since 2015; and a signatory of the UN Women’s Empowerment Principles since 2016.

Under the leadership of its president, Erman Ilıcak, Rönesans, along with its partners GIC, Meridiam Infrastructure, Sojitz, Samsung C&T, TotalEnergies, and IFC of the World Bank Group (minority shareholder in the group), has invested more than EUR8 billion into pioneering projects globally.

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