Depa Limited Annual Report 2017
Group CEO Operational Review The momentum continues The momentum created in 2016 has carried through into 2017 and is reflected in the Group’s strong performance, setting the Group up well for 2018. The strategic review completed in 2017 has reinforced the rationale for the 2016 reorganisation of the Group. The strategic review also resulted in the identification of non-core assets and disposal plans have been established for each of these.
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During the year, the Group-wide focus on cash collection resulted in several major long-outstanding receivables being collected. The collection of the remaining longoutstanding receivables will continue to be pursued in 2018. However, the Group’s focus is less on the past and more on the future: delivering existing projects for our clients and winning new quality projects.
productivity savings. During 2017, the roll-out of the Group’s four-gate work winning system was completed and the business is now utilising the system to manage the Group’s risk profile. This system provides: a) increased win-rates, given more effort can be focused on the projects with the best chance of success; b) enhanced profitability as the most financially-rewarding projects are pursued; c) cost-savings from more efficient use of resources; and d) a more targeted approach to project wins, reducing the overall risk profile of the Group.
The Group’s focus is less on the past and more on the future: delivering existing projects for our clients and winning new quality projects.”
Depa continued to invest in and grow a strong leadership team, with several key appointments made in the key business units. The Group continued to embed a performance driven culture and completed an organisational review, establishing a consistent and appropriate salary and grading structure across the Group globally. 2018 will see further work in this area deliver savings through an organisational mapping process to identify where each key business unit can achieve efficiencies and 8
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The Group continues to invest in organic growth, while continuously assessing acquisition opportunities against its strategic and financial objectives. The strategic review completed in 2017 identified the areas where organic investment is required and where inorganic growth will be pursued with a view to maximising long-term sustainable shareholder value. Each of the Group’s key business units are individually well placed to deliver success in 2018.