Letter From the Group CEO Go to contents 4 to manage the situation, and I would also A sustainability strategy rooted in Reevaluating our approach like to thank our clients for their cooperation partnership and long-term thinking to negotiation and understanding. We were able to openly share each other’s pain points, and to also 2022 saw the publication of our corporate Another of our sustainability focus areas, share costs so that no single party was sustainability strategy. In our 3 year strategic Partnership, led us to reconsider the way we shouldering all of the costs. cycle formulated in 2020, we committed to approach negotiation with the help of leading becoming leaders in sustainability. We spent negotiation strategist Keld Jensen. Our The situation stabilised after two or three 2 years understanding the market’s needs, aim is to be profitable, and for our partners months. Some projects were put on hold, developing an extended view of what our to be profitable as well, which is especially others continued, and new projects came up sustainability offering should encompass important in a sector with low profit margins as well. Nevertheless, even with the situation that goes well beyond simply looking at CO2 like construction. stable, it was necessary to prioritise emissions or planting trees. business resilience and long-term stability in Working together with Keld Jensen and terms of the projects we took on. Therefore, We then cooperated with the Swiss exploring his Smartnership framework, we made a strategic decision to focus more sustainability consultancy, Sustainserv, who we looked into ways to find hidden value in on governmental projects, and ensure all guided us through the development of our negotiations that create win-win situations. projects we took on had secure cash flow. sustainability strategy and helped us identify Achieving this requires a high level of 5 focus areas: transparency. Furthermore, both parties need As a result of this approach we now have to have a mindset that is oriented around three major hospital projects secured in the 01 Transparency teamwork and delivering the project in the Nordic region: the Radiumhospitalet in Oslo, best way possible. the 118,000m2 North Zealand Hospital in 02 Partnership Denmark, and most the Landspitali Hospital We look forward to launching our corporate in Iceland impressively our first project in 03 Innovation in Design and Delivery negotiation strategy in 2023, which will Iceland and our largest to ever in terms of provide guidelines for our organisation, and contract value (€47 million). 04 Climate Protection we hope will become a benchmark for the industry. These projects, and the many others 05 Being a Sustainable Organisation we have secured and are working on, represented a double victory for our Each of these focuses was then broken Continuing our Agile journey company in 2022. Firstly, these are exciting down into specific elements. For example, projects in important markets that keep us included within the Transparency focus area In 2022, we decided to change gears in our at the cutting edge of façade design and is a commitment to business resilience journey of becoming an Agile organisation. technology. Secondly, they ensure our long through risk and cost management. After This included developing a new Agile term resilience and stability thanks to their all, there is no point in having amazing framework, and continuing to listen closely to scale and government backing. sustainability initiatives if our company is not feedback from the cross-functional project around for the long-term to deliver on them. teams that are now using Agile methods.