EME Outlook - issue 55

T R I T O N P O W E R | T O LY G R O U P

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We revisit GO Plc and discuss the group’s continued impressive growth in Malta’s telecoms industry during the course of the past year, with CEO Nikhil Patil

C A M I L L E T H O M M E S , Director General of the Association of the Luxembourg Fund Industry tells us how ALFI is helping to bolster the sector

Issue 55

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SG TECH

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Produce delivered from paddock to plate

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Smooth cruising for European manufacturing

Behind the global tech powerhouse of the world’s Smartest City

The suite life of the hotel industry

World-class medical diagnostics for Africa

T R AV E L GUIDE

COCA-COLA SABCO MOZAMBIQUE Iconic and impactful brands and beverages

SYRAH RESOURCES LTD

Putting Mozambique on the map for global EV development

CYPRUS

GENIE ENERGY LTD

BATCHFIRE RESOURCES

Mediterranean escapism in the Land of Aphrodite

Advancing the solar generation

F E AT U R E

MOELLER AEROSPACE

PACTIV EVERGREEN

VAN MOER LOGISTICS

On a trajectory of expansion, Batchfire Resources is the low-fugitive emission energy coal producer pursuing plans for Net Zero

Sustainability and innovation in food and beverage packaging

Gideon Burger, CEO of Axiology Labs discusses providing top quality laboratory products for life science solutions across Africa

quality laboratory products for life science solutions across Africa Gideon Burger, CEO of Axiology Labs discusses providing top

Innoquest Diagnostics is moving forward as one in pursuit of transformative healthcare. Ginny Foo, CEO, gives us the details

Donavan Hutchinson, MD of SHI UK, tells us how how organisations are being empowered to adapt to changing business models and workplace strategies

LTD RESOURCES SYRAH

transformative healthcare. Ginny Foo, CEO, gives us the details Innoquest Diagnostics is moving forward as one in pursuit of

empowered to adapt to changing business models and workplace strategies Donavan Hutchinson, MD of SHI UK, tells us how how organisations are being

brands and beverages Iconic and impactful

MOZAMBIQUE SABCO COCA-COLA

RESOURCES BATCHFIRE

From quaint fishing village to bustling resort getaway

EVERGREEN PACTIV

AEROSPACE MOELLER

RE S US

We go Behind the Lens with culinary storyteller, Karolina Wiercigroch

VALLARTA PUERTO From quaint fishing village to bustling resort getaway

gas turbine technology discovery in air travel and industrial Ascending to new heights of

beverage packaging innovation in food and Sustainability and

TRAVEL GUIDE

PUERTO VALLARTA

We go Behind the Lens with culinary storyteller, Karolina Wiercigroch

of modern infrastructure investment Expert Eye, Amanda Li, discusses the unsustainable nature

LOGISTICS MOER VAN

pursuing plans for Net Zero is the low-fugitive emission energy coal producer On a trajectory of expansion, Batchfire Resources

Charting cleaner waters for the Adriatic

Expert Eye, Amanda Li, discusses the unsustainable nature of modern infrastructure investment

leading sustainable logistics in Belgium Founder and CEO, Jo Van Moer, discusses

EV development on the map for global Putting Mozambique

YACHTING’S SUSTAINABLE REVOLUTION

Ascending to new heights of discovery in air travel and industrial gas turbine technology

Founder and CEO, Jo Van Moer, discusses leading sustainable logistics in Belgium

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waters for the Adriatic Charting cleaner

REVOLUTION SUSTAINABLE YACHTING’S

GUIDE TRAVEL

F E AT U R E

solar generation Advancing the

Land of Aphrodite escapism in the Mediterranean

ENERGY LTD GENIE

CYPRUS GUIDE T R AV E L

diagnostics for Africa World-class medical

AFRICA LANCET CERBA

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Smartest City of the world’s tech powerhouse Behind the global

European manufacturing Smooth cruising for

INHA WORKS

ZERELLA FRESH

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SCHLAM / CR3 GROUP

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I M P R I M A G R O U P | AT I P R O J E C T

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AG R A I N D U S T R I E S , I N C

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SG TECH

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WELCOME FROM THE EDITOR

EDITORIAL Head of Editorial: Jack Salter jack.salter@outlookpublishing.com Editor: Lucy Pilgrim lucy.pilgrim@outlookpublishing.com Editor: Ed Budds ed.budds@outlookpublishing.com Junior Editor: Rachel Carr rachel.carr@outlookpublishing.com

Junior Editor: Lauren Kania lauren.kania@outlookpublishing.com

PRODUCTION Production Director: Stephen Giles steve.giles@outlookpublishing.com Senior Designer: Devon Collins devon.collins@outlookpublishing.com

Junior Designer: Louisa Martin louisa.martin@outlookpublishing.com Production Manager: Megan Cooke megan.cooke@outlookpublishing.com Digital Marketing Manager: Fox Tucker fox.tucker@outlookpublishing.com Web Editor: Oliver Shrouder oliver.shrouder@outlookpublishing.com

BUSINESS Chief Executive Officer: Ben Weaver ben.weaver@outlookpublishing.com Managing Director: James Mitchell james.mitchell@outlookpublishing.com Chief Commercial Officer: Nick Norris nick.norris@outlookpublishing.com Regional Director: Joshua Mann joshua.mann@outlookpublishing.com

HEADS OF PROJECTS Josh Hyland josh.hyland@outlookpublishing.com Deane Anderton deane.anderton@outlookpublishing.com Eddie Clinton eddie.clinton@outlookpublishing.com Ryan Gray ryan.gray@outlookpublishing.com

BUSINESS DEVELOPMENT DIRECTOR Thomas Arnold thomas.arnold@outlookpublishing.com

TRAINING & DEVELOPMENT DIRECTOR Marvin Iseghehi marvin.iseghehi@outlookpublishing.com

SALES & PARTNERSHIPS MANAGER Donovan Smith donovan.smith@outlookpublishing.com

PROJECT MANAGERS Alfie Wilson alfie.wilson@outlookpublishing.com Cameron Lawrence cameron.lawrence@outlookpublishing.com Dave West dave.west@outlookpublishing.com Dennis Morales dennis.morales@outlookpublishing.com Jack Belton jack.belton@outlookpublishing.com Jordan Levey jordan.levey@outlookpublishing.com

Kierron Rose kierron.rose@outlookpublishing.com Kyle Livingstone kyle.livingstone@outlookpublishing.com Liam Pye liam.pye@outlookpublishing.com Nicholas Kernan nicholas.kernan@outlookpublishing.com

ADMINISTRATION Finance Director: Suzanne Welsh suzanne.welsh@outlookpublishing.com Finance Assistant: Suzie Kittle suzie.kittle@outlookpublishing.com Finance Assistant: Victoria McAllister victoria.mcallister@outlookpublishing.com

EME OUTLOOK

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Ready, Steady, GO! Welcome to our 55th edition of EME Outlook magazine.

Europe is amongst the world’s best-connected regions, with a highly developed and competitive telecommunications industry serving business and consumer customers across the continent.

Telecommunications is the foundation of digital and green transformation, and is accelerating the adoption of technologies such as 5G, the cloud, artificial intelligence (AI), among others.

Furthermore, as Europe becomes a reliable and strategic partner in modernising infrastructure, driving innovation, and fostering the inclusive digitalisation of society and businesses, it needs a strong and sustainable telecommunications sector more than ever.

Headlining the cover of our latest issue is GO Plc, one of Malta’s leading communications service providers and among the fastest growing telcos in the country.

Amongst other exciting projects and investments from the past year, we find out more about the rollout of GO Plc’s True Fibre network, which is set to futureproof homes, businesses, and communities.

“Our reliance on the internet will continue to grow in ways that we can’t predict, but what we can do today is provide access to a network that can handle our digital ambitions for the next 100 years – True Fibre is the answer,” says CEO, Nikhil Patil.

The UK’s energy network, meanwhile, is equally vast and complex, supported by the likes of Triton Power, whose vital role in the country’s energy security is explained to us in our insightful interview with CEO, Mick Farr.

“As a business, we essentially provide emergency grid services to the National Grid. If something goes wrong with the network, you need the ability to restore it,” he states.

From energy to beauty, we also find out about Toly Group’s vast range of solutions and services that cater to the needs of any cosmetics company in the packaging industry.

“Our heritage stems from the production of compacts for products like face powders, blushers, and eyeshadows; that’s how it started. All these years later, we are able to offer packaging solutions across the whole make-up category as well as those classic products we started with,” shares Chairman and CEO, Andy Gatesy.

With a number of other exciting corporate stories to be found throughout our latest edition, we hope that you enjoy your read.

Jack Salter Head of Editorial, Outlook Publishing EME Outlook Issue 55 | 3

C O N T E N T S REGULARS

6 NEWS Around Europe and the Middle East in seven stories

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8 EXPERT EYE Navigating digital transformation in healthcare

BU SI N ESS I N SI G H TS

10 Supply Chain A Modern and Versatile Fleet

I N D U STRY S P OTL I G H TS

24 Association of the Luxembourg Fund Industry Setting investment standards of the future, today

34 British Electrical and Manufacturing Association (BEAMA) A spotlight on the UK’s energy sector

E V E N TS

102 Cricket Goes Green Bowled over by sustainable success

Utilising 180 years of marine heritage

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16 Retail Growth in Groceries Convenience and choice with SPAR Poland

EVENT FOCUS

104 AUTOMA 2023 Unleash AI technologies in oil and gas

TOP I C A L F OC U S

20 Technology 20

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Optimising the Smart City Experience Advancing the Kingdom of Saudi Arabia’s digital technologies

106 THE FINAL WORD What does good leadership look like to you?

EME OUTLOOK CONTENTS

F O O D & B E V E R AG E

F E AT U R E S

86 365discount A New Dawn for Discount Shopping

44 SHOWCASING

Ensuring healthy and affordable products

LEADING COMPANIES Tell us your story and we’ll tell the world

92 Tim Hortons Middle East Delivering Deliciousness to the Middle East

T EC H NOLOGY

46 GO Plc

Always fresh, always delicious

Keeping Malta Connected The latest developments at one of Malta’s fastest growing telcos

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E NE R GY & UTILITIES

56 Triton Power

M A N U FAC T U R I N G

The Power of Resilience

64 Toly Group

Leading the transition to decarbonisation

Passionate about Packaging Creatively building on beauty

72 IRSAP S.p.a.

Radiating Success Italian innovation with an industry leader

80 Vítkovice Steel Perpetual Steel European production of the most recyclable material in the world

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EME Outlook Issue 55 | 5

NEWS

Around Europe and the Middle East in seven stories…

A E R O S PAC E

DUBAI AIRPORT NOW BEST CONNECTED BE SURE TO use Dubai International Airport (DXB) as it now connects to 255 destinations, making it top of the list in airport connectivity rankings for the Asia Pacific and Middle East region.

The report created by the Airports Council International (ACI) Asia Pacific and Middle East found that air connectivity in the latter rose by 26 percent between 2019 and 2022.

Flight connectivity has particularly increased to destinations in North America, Asia Pacific, and Africa since the COVID-19 pandemic, with low-cost carriers (LCCs) driving the rise.

BUSINESS

UAE ANNOUNCES PUBLIC HOLIDAY FOR PROPHET MUHAMMAD’S BIRTHDAY THE UNITED ARAB Emirates (UAE) has announced a public and private sector holiday for Prophet Muhammad’s birthday, commencing on Friday 29th September.

The Ministry of Human Resources and Emiratisation (MoHRE) issued a statement to all departments and federal agencies announcing the paid holiday, which will result in an 6 | EME Outlook Issue 55

extended three-day weekend.

Similarly, Kuwait has also announced a commemorative holiday to celebrate the occasion, which will be held on 28th September.

A G R I C U LT U R E

SUPER PLANT SPECIES TO BOOST OUTPUT THE UN HAS announced plans to genetically modify crops to improve their conversion efficiency – the ability to convert solar radiation into biomass via photosynthesis.

Researchers have found that the ability to photosynthesise in crops like wheat and soybeans hasn’t improved in decades. Therefore, by improving this process, farmers can expect a much greater crop yield, which will in turn aid food shortages.

Promising results have already been found as changes in the mechanism of soybeans have led to yield improvements of over 20 percent.

B U S I N E S S T R AV E L

EU CRUISE SHIP TITANS PUSH FOR EMISSIONS RULE CHANGE MSC CRUISES HAS angered environmental protesters after calling for a rethink on how passenger vessels are assessed by United Nations (UN) shipping regulators.

The cruise company requests that the

UN rethinks its new regulations on grading the carbon emission levels of ships, stating that the new rules “penalise” passenger vessels.

The executive chair of MSC Cruises has commented that the industry lobby group, Cruise Lines International Association, is “engaging” with the International Maritime Organisation to “revise the formula” at a meeting scheduled for spring 2024.

TECHNOLOGY

R E TA I L

H&M CHARGING SHOPPERS’ RETURNS YOU MIGHT WANT to rethink returning your items to H&M, as the retail titan in the UK is the latest store to start charging a fee for returning items. Shoppers must now pay £1.99 to return parcels in store or online, with the amount taken from their refund. However, returns are still free for H&M members.

This follows the trend of many high-street retailers, such as Zara, Boohoo, Uniqlo, and Next, who also recently started charging for online returns.

R E TA I L

CO-OP FACES SHOPLIFTING ANARCHY

FRENCH APPLE WORKERS STRIKE UPON iPHONE LAUNCH APPLE STORES ACROSS France recently went on strike over salary discrepancies, which corresponded with the launch of the Apple iPhone 15.

The four Apple worker unions called the strike action on the 22nd

and 23rd of September, which coincided with the tech giant’s latest release. The strike affected 20 Apple stores across France, which culminated in a demonstration outside the Opéra store in Paris, one of the company’s flagship outlets.

BOSSES OF UK convenience store, Co-op, have warned that shops are descending into anarchy as staff face a sharp increase in retail crime, from shoplifting to armed robberies.

Co-op stores across the UK have seen a 35 percent increase in crime in the past year, with more than 900 staff physically assaulted. Meanwhile, the Scottish Grocers Federation found in a survey that all its member stores experienced theft on a daily basis.

EME Outlook Issue 55 | 7

Navigating Digital Transformation in EME Healthcare: Cloud Migration is Imperative Alexander Ryan, Director of EMEA Healthcare Business Development at Hyland, explains how technology is the solution to a streamlined patient care system Writer: Alexander Ryan, Director of EMEA Healthcare Business Development, Hyland

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ll around the world, healthcare providers are grappling with the huge logistical challenge of digital transformation. European and Middle Eastern institutions in particular are beginning to surmount the challenges inherent in migrating away from traditional on-premises systems and into the realm of cloud-based solutions.

A successful transition to the cloud unlocks a wealth of advantages, from higher quality patient care and operational streamlining to substantial cost reductions and robust security measures, but with many potential obstacles to a smooth transition from on-premises to cloud, what are the key considerations and 8 | EME Outlook Issue 55

benefits we should consider before any migration?

FACILITATING COLLABORATION Healthcare systems in Europe and the Middle East are often fragmented, with siloed systems that inhibit collaboration and data sharing. The inability to democratise data in these systems inevitably leads to omissions in care records, the duplication of effort, and, ultimately, more errors in patient care.

Adopting cloud computing is an opportunity to dismantle these silos, promoting real-time data and seamless communication.

A centralised electronic patient record (EPR) offers a consistent,

comprehensive understanding of a patient’s medical history, allowing those qualities to be reflected in a patient’s treatment and care.

This, by extension, streamlines administrative efforts across the board – which means medical professionals spend less time searching for critically relevant patient information and more time on patient care. Administrative costs come down, and the speed at which patients receive care accelerates.

SCALABILITY FOR FLUCTUATING NEEDS Scalability plays a pivotal role in all healthcare organisations. Seasonal increases, such as flu outbreaks or unexpected spikes in patient numbers due to other less predictable events such as natural disasters, are examples of the fluctuations they must accommodate.

EXPERT EYE TECHNOLOGY

Cloud setups are a reliable ally here, able to scale in near-real time.

For example, ‘elastic computing’ empowers healthcare organisations to swiftly adjust computing resources, scaling up to reflect demand or down to reduce unnecessary expenditure.

This adaptability is invaluable for applications prone to sudden spikes in traffic, such as patient portals and EPRs. By contrast, on-premises equivalents involve substantial investments in hardware and software, which adapt far more slowly and may ultimately become obsolete or underutilised.

ENSURING DATA SECURITY AND COMPLIANCE Given the sensitive nature of medical data, cybersecurity and regulatory compliance are paramount for healthcare institutions. Cloud providers offer a range of security features and capabilities, including intrusion detection and prevention systems, vulnerability management, and security incident response.

Cloud providers typically attain compliance certifications for a wide array of industry standards and regulations. This includes notable standards like the EU’s General Data Protection Regulation (GDPR) and the United Arab Emirates’ (UAE) Data Privacy Law. By building compliance measures into the platform, healthcare providers can leverage the cloud without fear of breaching regulations and without cumbersome upgrades or updates to security infrastructure.

BUSINESS CONTINUITY AND DISASTER RECOVERY As it is freed from the physical limitations of on-premises hardware, cloud-based solutions are inherently robust against disaster, enabling healthcare providers to guarantee the continuity of critical services.

For example, the cloud’s capacity for data backup shields healthcare

systems from potential data loss in the wake of disasters like fires, floods, or earthquakes. By storing the data safely in a data centre or server farm far from the premises, data is protected and can be transmitted to other facilities, supporting care efforts instantaneously.

This significantly reduces downtime, prevents data loss, and spreads the workload across multiple providers.

It also allows professionals to access crucial data from mobile devices – which can be a key advantage to tackling disasters in remote areas or areas with difficult terrain.

Through data backup, cloud application hosting, and disaster recovery services, these systems can fortify their resilience, ensuring the continuous delivery of essential services while mitigating potential financial setbacks.

HARNESSING THE POWER OF AI AND MACHINE LEARNING Cloud-based solutions are unleashing the potential of artificial intelligence (AI) and machine learning (ML) within healthcare systems, with the cloud providing the required computing power and data storage capacity for both technologies.

These include streamlined access to substantial datasets – a critical component for training and deploying AI and ML models – as well as the provision of potent computing resources necessary for executing complex AI and ML algorithms. For instance, AI-driven algorithms can meticulously analyse medical images, enabling the early detection of diseases before human doctors can.

The synergy of AI and ML also accelerates the drug discovery process, offering a means to identify new drug targets and predict the efficacy and safety of novel medications. This transformative approach holds the potential to revolutionise pharmaceutical research and development.

In allowing AI and ML to do the heavy lifting when it comes to organising and analysing specific datasets, medical professionals can save both time and energy traditionally reserved for menial tasks, committing those resources back into patient care.

THE FUTURE IS IN THE CLOUD As European and Middle Eastern healthcare institutions navigate their digital transformation journey, a shift from on-premises to cloud installations is a strategic imperative.

While the path to migration may pose challenges, there are long-term benefits of enhanced accessibility, scalability, security, and business continuity. The exciting prospects of integrating AI and ML further underscore that this transition is not merely advantageous – but essential.

The moment has arrived for these healthcare institutions to wholeheartedly embrace the cloud revolution. The future of healthcare is not just in the cloud; it is the cloud.

ABOUT THE EXPERT Alexander Ryan is an accomplished sales and business development leader with 18 years of experience in healthcare IT. At Hyland, he is the Director of EMEA Healthcare Business Development.

Prior to joining Hyland in 2018, he held senior roles in both sales and business development – specialising in internationalisation for healthcare IT and management consulting companies in the Nordics, the UK, and Spain. He is fluent in English, Spanish, and Swedish.

He holds a Bachelor of Science degree from the University of London, and a Master of International Business Strategy from Uppsala University in Sweden.

EME Outlook Issue 55 | 9

A MODERN AND V E R S AT I L E FLEET 10 | EME Outlook Issue 55

P&O MARITIME LOGISTICS SUPPLY CHAIN

The vast maritime sector plays a huge role in the energy transition in Europe and elsewhere, as it facilitates the development of new offshore renewable energy infrastructure. Martin Helweg, Chief Executive Officer of P&O Maritime Logistics, explains how the company is spearheading this regeneration Writer: Ed Budds

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&O Maritime Logistics is a leading provider of marine solutions with a focus on offshore energy, port services, and cargo transport, now operating in over 20 countries. By utilising its ever-expanding fleet, the company provides a wide portfolio of valueadded marine services and has mastered the ability to integrate these offerings with its customers’ operations – always with safety and the protection of the natural environment at the forefront of operations and processes.

With a sense of craftsmanship driving all that P&O Maritime Logistics does, the company works hand-inhand with its clients, shipbuilders, and key suppliers, applying its skills to develop marine logistics solutions and design future vessels, as Martin Helweg, Chief Executive Officer (CEO), tells us.

EME Outlook (EO): Can you introduce us to P&O Maritime Logistics?

Martin Helweg, CEO (MH): We are global leaders in the maritime industry, and our legacy spans nearly two centuries – over 180 years, to be precise. As a DP World company, our vision is to make trade flow and to change what is possible for everyone involved in the maritime industry.

EME Outlook Issue 55 | 11

P&O MARITIME LOGISTICS SUPPLY CHAIN

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Managing a fleet of more than 400 vessels, we not only deliver comprehensive solutions to our customers, but also serve the communities in which we operate through some of the most complex projects across the world.

Our dedicated team of over 3,000 employees worldwide ensure vessel moves are executed smoothly. We take great pride in our expertise in supporting liquefied natural gas (LNG) terminals, and our services extend to nine terminals globally.

These figures highlight our extensive reach, operational excellence, and unwavering commitment to delivering exceptional maritime logistics solutions.

EO: What is your take on the maritime industry in Europe at present, and have you identified any recent trends developing?

MH: Europe is a key player in the global maritime industry and features some of the most advanced markets.

As for the industry at large, there are certainly several emerging trends, the most significant of which is perhaps the transition towards green shipping.

P&O Maritime Logistics, along with our contemporaries and other service providers, is looking at ways to speed up the adoption of greener practices

to create a more sustainable business while remaining cost-effective. Alternative fuels, improvements in energy saving, the implementation of slow steaming, investments in renewable energy, and smart management technologies are among the many tools we are exploring. However, there is always scope for further improvement.

One key example is our ongoing work for a large-scale, 900-megawatt (MW) wind farm located in Germany’s North Sea. Our support and contribution to the project will play a key role in helping the country reach its goal of meeting 80 percent of its electricity needs from renewable resources by 2030. P&O Maritime Logistics will transport components for a Spanish EPC company, which oversees the construction of offshore substations for the wind farm. Since November 2022, our vessels have made several voyages, carrying components from pre-fabrication yards in Turkey to assembly yards in Spain.

Elsewhere, we are also involved in the development of offshore wind farms outside Europe, such as the Greater Changhua wind farm off the coast of Taiwan, which has powered 4.35 million homes. Additionally, we are also working on a five-year project to support the Coral Sul Floating LNG production unit in Mozambique.

EME Outlook Issue 55 | 13

P&O MARITIME LOGISTICS SUPPLY CHAIN

EO: What are the most challenging elements of the business that you are currently encountering and how are you overcoming these?

MH: Global trade has suffered a series of shocks and shortages in recent years, which has proven the importance of supply chain resilience to economic growth and quality of life. Through our talent, technology, and world-class infrastructure, we are helping build more resilient supply chains for our clients and their customers.

To achieve this, we have streamlined our operations to provide an endto-end service to our customers.

Our new operating model includes all our services - both offshore and in port - and is fully scalable across vessels, operations, and geographies.

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Through the use of technology and real-time data, we’re able to maximise efficiency and provide a flexible yet resilient service offering that is changing the face of the energy logistics industry.

EO: Can you tell us about some of your recent or upcoming projects?

MH: We manage a range of complex and purpose-driven projects for our clients. One of our most recent projects was to help build Saudi Arabia’s bourgeoning tourism sector.

P&O Maritime Logistics was chosen because of its unique capabilities and ability to protect the project’s fragile marine environment.

The multi-carrying vessels (MCVs) used were serviced in drydock facilities before the contract to limit

their possible impact on local marine life – and their ballast systems were filled with water from the Red Sea to reduce the chance of introducing foreign organisms. The shallow draft of the MCVs and their versatile thruster arrangement meant that there would be minimal disturbance to the shallow seabed.

Supported by our versatile feet of MCVs, we transported offsite manufactured, pre-finished, volumetric hotel villas to the Sheybarah Island Resort on Saudi Arabia’s Red Sea coast. The resort, a cornerstone project that is part of the Saudi 2030 Vision, will consist of 73 uniquely shaped and prefabricated villas, some of which will hover above the island’s diverse ecosystem. With mangroves, beaches, and coral reefs, the resort will utilise the latest

P&O MARITIME LOGISTICS SUPPLY CHAIN

sustainable technologies to preserve and enhance the local environment.

Additionally, our MCVs’ shallow draft made them ideal for accessing areas where larger ships are unable to fit due to their size. The vessels have the unique ability to allow efficient and timely delivery to the site using the just-in-time principle, with minimal congestion for the production facility and project site, delivering a costeffective customer solution.

This is just one of many examples of how we navigate complex client projects worldwide.

EO: What, for you, differentiates P&O Maritime Logistics from the competition?

MH: Our biggest differentiator, and what sets us apart from other

providers, is that we are focused on the impact we are making through our work. Just like our parent company, DP World, we are not only interested in enabling our clients’ projects, but in how we make a positive contribution to the communities we operate in while protecting the environment.

With this in mind, we offer cuttingedge marine solutions to connect and simplify the cargo journey across offshore, port services, and cargo transport, building on the rich expertise we have gathered over our 180 years as leaders in maritime logistics.

With an emphasis on employee safety and the environment, we are able to deliver some of the most complex projects, tailoring solutions to cater to the needs of our clients and the end consumer.

EO: What do the next 12 months look like for the company?

MH: Driven by DP World’s ambitious decarbonisation goals, P&O Maritime Logistics’ vision is to offer an integrated, expert service that helps our customers overcome industry barriers. By providing critical marine solutions and logistics services across relevant industry segments that are both innovative and cost-effective, we are eliminating friction from the cargo journey and helping make supply chains more resilient – this will remain our focus.

https://pomaritime.com EME Outlook Issue 55 | 15

G R OW T H I N GROCERIES Wayne Hodson, CEO, informs us about SPAR Poland’s focus on increasing its footprint of stores and developing its private label products Writer: Jack Salter

SPAR POLAND RETAIL

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oland’s grocery market is highly competitive, with half the market being controlled by three players, namely Biedronka, the Schwarz Group (Lidl/Kaufland), and Eurocash.

The fourth largest is Dino, one of the fastest growing chains in a market that is broken down into four channels – discount stores, hypermarkets, supermarkets, and convenience, with Zabka controlling the latter with over 10,000 stores.

SPAR Poland fits into the ‘underdeveloped’ supermarket channel, where the strategy is not to be the cheapest but to be the leaders in service, quality, freshness, and range - all at a competitive price.

The SPAR brand celebrated its 90th anniversary in 2022, having started out in 1932 in the Netherlands. Fast forward nine decades, and SPAR is now present in 48 markets with over 13,900 stores serving 14.7 million customers every single day.

SPAR has been in Poland since 1995, with the first store opening a year later. Today, following strong growth

across the country, there are more than 200 stores across four formats – SPAR Express, SPAR, EUROSPAR and TOPS. The store numbers were significantly bolstered in 2019 after SPAR International granted the license to continue to operate the brand in Poland to SPAR Group South Africa.

Along with the takeover of the existing license, the SPAR Group took over the support and supply of existing independent partners, located predominantly in the south of Poland. Soon after, the group acquired the bankrupt company, Piotr i Pawel, which consisted of approximately 100 stores.

Some of these stores were subsequently converted to the SPAR brand; as a result, in December 2019, SPAR Poland opened its first EUROSPAR store in Warsaw.

EME Outlook Issue 55 | 17

SPAR POLAND RETAIL

As well as having an extensive network of independent stores run by local entrepreneurs, offering customers everyday family essentials such as fruit, vegetables, and a wide selection of meats, cold cuts and cheeses, there are 16 corporate stores that are owned, operated, serviced, and looked after by SPAR Poland.

In a strategic alliance with AVIA, the company also supports a total of 43 18 | EME Outlook Issue 55

SPAR Express stores at fuel stations across Poland.

“Our stores are located in the north and south of Poland, and are serviced out of two distribution centres – Koninko and Czeladz. We carry approximately 10,000 stock-keeping units (SKUs) in each distribution centre across all categories, with the exception of frozen, which is outsourced,” details Wayne Hodson,

CEO of SPAR Poland.

“Our head office is located in Poznan, along with a central production facility that produces fresh Polish cuisine for our stores. We currently have approximately 700 employees across our head office, distribution centres, and corporate stores.”

Despite many challenges, not least the COVID-19 pandemic, which made

“ W E H AV E O P E N E D 4 0 N E W S T O R E S A S O F T H E E N D O F A U G U S T, A N D O U R TA R G E T I S TO O P E N 5 0 I N T H I S F I N A N C I A L Y E A R ” – WAY N E H O D S O N , C E O , S P A R P O L A N D

it very difficult to grow the business, SPAR Poland has continued to rapidly expand thanks to its multiformat strategy, encompassing both independent and corporate stores, enabling the company to meet the shopping needs of customers.

This year has been no different, as SPAR Poland has already achieved its aim of opening 40 new independent or corporate stores in 2023, largely at petrol stations in partnership with AVIA. “We have opened 40 new stores as of the end of August, and our target is to open 50 in this financial year,” Hodson outlines.

Heading into 2024, a key priority for SPAR Poland will be growing its footprint through new stores, along with the redevelopment of its existing outlets.

Another of SPAR Poland’s big focuses is the development of its private label products. The company now has over 700 SKUs under its own private label, with its target being 1,000 SKUs by the end of 2023.

Marketed as top-quality products that are as good as the best for less, and ranging across all categories, 80 percent of these private label products are sourced and produced

locally in Poland.

In 2022, SPAR Poland launched a new ultra-fresh range of ready meals and drinks under the Fresh to Go brand, including tortillas, sandwiches, pizzas, and juices.

A year prior, SPAR International also launched its new own-brand economy range across European markets, including Poland, under the SPAR N°1 label.

Complemented by SPAR Poland’s focus on fresh foods and convenience solutions, such as the Bean Tree Café, SPAR N°1 supports a complete offer for customers and is a key addition to its multi-tier own-brand strategy, providing an even wider choice of quality, everyday essentials at great prices.

“Our strategy is driven across three tiers – economy, core, and premium,” explains Hodson.

“We are also currently exporting some of our private label products to some Eastern European countries.”

The development of private label across all categories is a big investment opportunity going forwards for SPAR Poland, whose focus is equally on the fresh fruit and vegetable, gastro, meat, and bakery departments within its stores.

EME Outlook Issue 55 | 19

Optimising City Expe

Sahem Azzam, Senior Vice President of Orange Business for the Middle East, Africa, and Turkey, highlights how the company’s partnership with the Kingdom of Saudi Arabia’s financial district is spearheading smart urban development of the future Writer: Lucy Pilgrim 20 | EME Outlook Issue 55

A

s the enterprise division of telecommunications (telecoms) giant, Orange, Orange Business is an industryleading network and digital integrator.

Operating across 65 countries, Orange Business provides end-to-end services that are instrumental in transforming its customers’ telecoms footprint.

TOPICAL FOCUS TECHNOLOGY

g the Smart perience

In the last decade, Orange Business has been involved in the innovative next generation of city planning and digital infrastructure, materialising in the smart city projects that have been taking place in the Kingdom of Saudi Arabia (KSA) and the wider Middle East region for the last 10 years.

In the continuation of its

transformative optimisation of developing cities, Orange Business recently joined forces with the King Abdullah Financial District Development & Management Company (KAFD DMC) to design, build, and run its Smart City Platform in the region’s prime business district.

The agreement between the two

industry trailblazers was signed in early September this year at a ceremony hosted in KAFD during a panel discussion, ‘Secure, Smart, Sustainable: The Future of Smart Cities’. This sets the tone for the significant and vital impacts of the partnership between KAFD and Orange Business, as it steers urban EME Outlook Issue 55 | 21

TOPICAL FOCUS TECHNOLOGY

development in the right direction.

“The Smart City Platform will be designed and built to integrate artificial intelligence (AI) and data analytics into existing KAFD digital infrastructure and will enable the district to optimise data and advance its smart city experience using new technologies,” opens Sahem Azzam, Senior Vice President of Orange Business for the Middle East, Africa, and Turkey.

Orange Business will also provide a variety of highly comprehensive Digital Master Systems Integration services and manage its partner ecosystems by working alongside company experts on systems integration and new use cases.

The partnership between KAFD and Orange Business is a major step towards the creation of a futureproof and business-friendly hub in Riyadh, KSA’s largest city. KAFD is the optimum location for the Smart City Platform due to its status as a worldclass business district that is also one of the most sustainable.

By integrating AI and data analytics into existing business infrastructure, KAFD can become a global pioneer in smart urban development as it transitions to the next level of smart city evolution – the cognitive city.

SMARTER URBAN DEVELOPMENT As the rate of telecoms infrastructure rapidly advances, smart urban development is at the forefront of town planning and social development in some of the world’s most digitally conscious countries.

The Orange Business Smart City Platform is heralded as a trailblazing strategy, thanks to its compatibility with a wide range of systems and technologies that encompasses data management; descriptive, predictive, and prescriptive data analytics; and governance.

“AI-related use cases will include geolocation-based sentiment analysis of social media; analysing, collating, and sharing contextual data in areas ranging from water supply to traffic situation awareness; and energy optimisation across commercial office buildings,” Azzam explains.

Evidently, the Smart City Platform will permeate every aspect of business development, from the most significant forms of data management to controlling office lights. Therefore, the partnership helps facilitate a high-quality urban environment and advances lifestyles not only for businesses in the district, but also residents and visitors.

The Smart City Platform falls in line with the Quality of Life Programme which is spearheading the government’s Saudi Vision 2030, the impacts of which can be felt far and wide as it aims to enhance the liveability and competitiveness of KSA’s cities.

As part of the programme’s socioeconomic impacts, smart city urban development will have many positive impacts on KAFD’s environmental footprint, a district that was already considered one of the world’s most sustainable business hubs.

Through the collection of data and by leveraging AI and analytics, the Orange Business Smart City Platform will help provide deeper user insights as a basis for new use cases, revenue streams, and innovative services for the city’s population.

“It will also optimise city operations – making them better, faster, and safer,” Azzam concludes.

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LUXEMBOURG INVESTMENT FUND INDUSTRY S P OT L I G H T The global asset management and investment sector is an indispensable component of the world’s economic footprint, making it integral that the industry is accurately assessed and monitored to maintain a financial equilibrium Writer: Lucy Pilgrim | Project Manager: Ben Weaver

24 | EME Outlook Issue 55

ASSOCIATION OF THE LUXEMBOURG FUND INDUSTRY INDUSTRY SPOTLIGHT

T

he scope of international asset management and foreign direct investment (FDI) has become increasingly significant in the global financial sphere in the past 20 years. The majority of this growth is stimulated by rising demand in the extension of mutual and private funds, in the face of ever-changing financial conditions which have subsequently heightened the need for investment guidance.

The beginnings of the investment and asset management industry first emerged in the 18th century, due to an increase in organised borrowing activity.

Therefore, through the support of national banks and governments across Europe, savings products such as life insurance and pension funds began to conceptualise towards the end of the century.

Today, with nearly 5,000 fund and asset management companies operating in Europe, the continent is a financial hub for global banking operatives. This is conducive to the overall efforts of the European financial services industry, which has endeavoured to build a stable and informative environment for international investors, facilitated through easy access to trustworthy information and advice.

Within the context of the investment fund industry, the main function of the investment promotion sector, and investment promotion agents (IPAs) more specifically, is to create an investment promotion strategy (IPS) for a particular region. This is achieved by a clear understanding of the socio-political and economic landscape of the given country, as well as knowledge of the nation’s international economic policy in order to navigate and encourage FDI. An IPS exists as a balance between a country’s business competitiveness and attractiveness as a location, alongside the intentions of the international investor. Therefore, great care and precision is taken when formulating an IPS, as it must correlate with certain political, economic, and environmental criteria. Therefore, this highlights a need for accurate representation and guidance, whilst showcasing the given region’s investment opportunities on the world stage.

EME Outlook Issue 55 | 25

ASSOCIATION OF THE LUXEMBOURG FUND INDUSTRY INDUSTRY SPOTLIGHT

A S S O C I AT I O N O F T H E LUXEMBOURG FUND I N D U S T RY ( A L F I ) INTERVIEW: As key support for the Luxembourg fund industry, Director General Camille Thommes tells us how ALFI bolsters the sector to be properly equipped to serve the domestic market and international clients. In the context of constant transformation in the financial industry, ALFI provides major support to the country’s investment fund sector, positioned as the face and voice of the country’s investment promotion activities EME Outlook (EO): Firstly, can you talk us through the origins of ALFI, including how it was established and the initial vision?

Camille Thommes, Director General (CT): ALFI began in 1988 when Luxembourg was the only country to have implemented the first European investment fund directive (UCITS1). The feeling at the time was to create a dedicated association that could promote and represent the Luxembourg investment fund industry.

EO: Since inception, how has ALFI progressed in terms of its key objectives and the messages it tries to get across?

CT: As we celebrate our 35th anniversary this year, we have come to represent approximately 1,500 investment funds, asset management companies, and service 26 | EME Outlook Issue 55

providers that form a key part of the fund value chain. The latter includes central administrations, transfer agents, depositary banks, law firms, and consultancy firms, each providing indispensable services to our industry.

The main mission of our association is to lead industry efforts and provide solutions to our members, promoting Luxembourg as the most attractive fund centre. Derived from this main mission are three key objectives; the first is to help our members capitalise on emerging industry trends and utilise the broad legal toolbox.

Secondly, we strive to shape regulation by providing our views on any legislation emanating from the European authorities, as well as other global economic bodies such as the International Organisation of Securities Commissions (IOSCO).

The third objective is to encourage and further enhance the professionalism and integrity of industry players, whilst

advocating for the Luxembourg investment fund industry on the international stage, which is achieved through ALFI roadshows and conferences.

We are consistently reviewing these objectives (that are linked to our strategic vision embodied in the ALFI Ambition Paper 2025), by developing a comprehensive plan after a change in the chairmanship of the association.

This ambition paper considers new trends, developments, opportunities, and challenges that will be affecting the industry going forward.

EO: Following this, what excites you most about the investment fund industry in Luxembourg currently, and what is your place in this field?

CT: Over the last 30 years, we have become the face and voice of the investment fund industry in Luxembourg.

The simple fact that we exist and continue to grow demonstrates the extent to which we play a relevant role as the main interlocutor between the industry and public authorities. These include the Ministry of Finance, the regulator, and other major public stakeholders.

Consequently, I believe our positioning has certainly helped us grow to a prominent role in the European industry.

ALFI’s impact and international reach is also supported by our roadshows that we have been organising for over 20 years in markets around the world in which our members distribute their products and offer their services.

Our very first roadshow was held back in 2005 in London, and from there more were added each year. Last year, we organised a total of 52 roadshows, conferences, and expert briefings.

At a national level, we run approximately 200 working groups in which members contribute to our advocacy

work on existing and forthcoming regulation as well as develop guidelines and best practices on topical subject matters. Therefore, as an open forum of discussion, the association creates a fruitful ecosystem of experts and practitioners.

EO: What are the biggest challenges currently facing ALFI? CT: The challenges facing the association are the same ones affecting the entire asset management industry.

Locally, as an association, we need to remain vigilant, not rest on our laurels, and keep on striving for improvement.

We constantly work on enhancing our legal toolbox, which comprises the investment vehicles and legal structures most relevant to our clients and investors. In addition, we monitor developments in key distribution markets, so that we can effectively support our membership in their business activities.

Most importantly, we need to ensure the competitiveness of our industry, given its economic impact for the country.

EO: What makes Luxembourg the best place for international investment?

CT: The success that Luxembourg has achieved has not been built overnight; it took years to develop. Historically, we gained a competitive advantage due to the early EME Outlook Issue 55 | 27

STRONGER TOGETHER

BRIEFLY INTRODUCE US TO JTC? JTC is FTSE 250 listed company with over 35 years’ experience in providing solutions to complex corporate structures, funds and private clients.

We have grown our global footprint to 32 offices in 21 jurisdictions, focusing more recently on our expansion in the US. Over the past three years, we have made seven acquisitions in the Institutional Client Services division, which have not only enhanced our scale, but more importantly, built on the depth and breadth of our services.

We operate around the simple but effective principle that if our people have a stake in the business, they will do a better job for our clients. This commitment to Shared Ownership continues today and remains at the very heart of our culture for our 1500 people.

JTC opened an office in Luxembourg in 2009 to provide a European centre for fund and corporate services. We offer fund administration, corporate and real estate services, specialising in incorporation, domiciliation, fund administration and accounting of AIFs unregulated funds, securitisation structures and SPVs. The Luxembourg team are multi-lingual, with vast experience and understanding of corporate and fund structuring and regulation within Europe, enabling us to effectively service the European private equity, real assets and hedge fund community.

HOW IMPORTANT IS IT TO CONTINUE SEIZING OPPORTUNITIES IN SUCH DIFFICULT MACROECONOMIC TIMES? In the face of challenging macroeconomic conditions marked by high inflation and soaring interest rates, the role of JTC with its global footprint, becomes indispensable for alternative investment funds. With inflation eroding the purchasing power and elevated interest rates affecting the liquidity landscape, fund clients require agile strategies to protect and grow their investments.

Beyond purely fund administration, the value addition from JTC lies in its multi-faceted approach. Specialised reporting, tailored to these tumultuous times, ensures clients are always informed, while rigorous operational due diligence minimises risks and uncovers potential growth areas. Efficient cash management, combined with JTC’s commitment to operational efficiency, guarantees optimised returns and cost savings in an environment where every basis point counts.

Moreover, with regulatory landscapes constantly shifting during such periods, JTC’s deep-rooted regulatory expertise ensures funds remain compliant, while its proficiency in foreign market strategies offers diversification benefits.

Ultimately, JTC’s continuous emphasis on education and expertise positions it as a beacon, guiding funds through the macroeconomic turmoil, ensuring they not only survive but thrive.

WHAT ARE THE BIGGEST CONCERNS AMONG FUND MANAGERS AHEAD OF AIFMD2’S INTRODUCTION? Ahead of AIFMD2’s introduction, fund managers have been grappling with a multitude of concerns. Initially, there was apprehension about potential EU-wide restrictions on delegation, a foundational practice where they outsource specific tasks to third-party managers in other countries. This unease was heightened by speculations that the EU might set restrictive caps on the extent of delegation, potentially hemming in fund managers’ operational flexibility and their global outreach strategies.

As the negotiations unfolded, several new sticking points emerged. Delegation remained a focal concern, especially with the European Parliament (EP) resisting the requirement for fund managers to report both the assets under management and the proportion of those assets under delegation. Additionally, the EP is advocating for a definitive list of information required from fund managers seeking authorisation, rather than an open-ended one.

Loan originating funds have also been a contentious topic.

While the EP is inclined to define such funds as those primarily focusing on loan origination, this narrow definition hasn’t found favour with the Council. Additionally, differences have arisen about changing the method of calculating leverage, although there’s potential agreement on introducing a cap for closedended funds.

Another debate centres on the inclusion of a reference to a depositary passport, with the Council favouring its exclusion.

Lastly, the question of undue costs has become prominent, with the EP pushing to align regulations with the Commission’s Retail Investment Strategy, which could reshape reporting provisions and give ESMA the authority to determine when costs are deemed excessive.

These concerns, combined with disagreements among the EU entities, paint a complex picture of the potential regulatory challenges fund managers might face with the introduction of AIFMD. The EP’s proposal includes specific provisions relating to liquidity risk management. It includes provisions enabling the competent authorities to require that an AIFM activates or deactivates a relevant liquidity risk management, remarkably a power that is expressed to extend to cover non- EU AIFMs. There are still some debates whether ESMA guidelines or regulatory technical standards explaining the characteristic and the selection of the liquidity risk management tool should be implemented.

HOW IMPORTANT IS SUSTAINABILITY TO JTC? The short answer is very important.

This applies to both JTC Group, the FTSE 250 company and the businesses within its 21 operating jurisdictions, as well as our service offering to clients globally.

Our culture of Shared Ownership has been at the heart of the Group for over 25 years and naturally drives a long-term, sustainable outlook as every employee is an owner of the business.

In the past two years, JTC has appointed its first Chief Sustainability Officer, Wendy Holley, and in 2022 reported for the first time under TCFD and for the second time under the SASB framework. We remain a Carbon Neutral+ organisation and now also report to the Carbon Disclosure Project (CDP).

For our clients, we have launched Sustainability Services to enable firms to develop their own ESG strategies and regulatory process (including adhering to frameworks like SFDR and UNPRI), training for staff, and delivering carbon support.

We are ideally placed to support our clients achieve their own sustainability journey and particularly to ensure they are prepared for, and compliant with, the rapidly evolving array of sustainability standards and regulation.

As a highly regulated and listed company, good governance is the foundation of our operations and service offering so we are proud to ‘walk the talk’. We believe that our ESG services and the value we offer clients is enhanced by the standards

to which we are held by and by having a clear sustainability framework and roadmap.

WHAT ESG INITIATIVES DO THE COMPANY CURRENTLY PARTICIPATE IN? We have a detailed roadmap at a company level that addresses ESG and sustainability pillars. Among the projects we are currently participating in: • TCFD disclosures • UNPRI signatory • Voluntary reporting under Carbon Disclosure Project (CDP) and Sustainability Accounting Standards Board (SASB) • A certified Carbon Neutral+ organisation and commitment to achieve Net Zero by 2030 • 100% of employees are owners of the business through our innovative shared ownership model (a Harvard Business School case study) • A developing diversity, equality, and inclusion (DEI) program connected to our longstanding JTC Academy (learning), JTC Wellbeing, and JTC Gateway (geographic mobility) efforts • Significant community and charity participation from our 32 locations across 20 jurisdictions globally In Luxembourg specifically, our environmental, social and governance participation focus on local initiatives, while supporting our Group efforts.

JTC Luxembourg have been recognised for their inspiring sustainability efforts by SDK on behalf of the State of Luxembourg and Minister of Environment, by receiving an environment label and award to mark their successful recycling processes within our Bijou office.

This commendation was in line with the ISO 14024 Type 1 environmental labelling programme, which sets out the standards for recognising a company’s sustainable achievements.

Our Luxembourg team are also proud to sponsor the national cricket teams for both men and women, while we also support the T71 Diddeleng women’s basketball team with their EuroCup aspirations. Uniquely in the jurisdiction, we hold an annual Spring celebration of Luxembourg local food and culture.

Vincent van den Brink – Commercial Director +352 2634 3656 Vincent.vandenBrink@jtcgroup.com

www.JTCGroup.com

“THE MAIN MISSION OF OUR A S S O C I AT I O N I S T O L E A D I N D U ST RY E F FO R TS TO M A K E LUXEMBOURG THE MOST T H E M O S T AT T R A C T I V E I N T E R N AT I O N A L C E N T R E F O R INVESTMENT FUNDS” – C A M I L L E T H O M M E S , D I R E C TO R G E N E R A L , A S S O C I AT I O N O F T H E L U X E M B O U R G F U N D INDUSTRY

transposition of European directives into national law.

Other valuable reasons why Luxembourg is the best place for international investment include our diversified ecosystem, as well as a multicultural and multilingual environment.

Furthermore, Luxembourg is continuously developing its legal toolbox. Recent successful examples of this include the reserve alternative investment fund (RAIF) and the limited partnership structure, which specifically cater for the needs of alternative asset managers.

As a country, we enjoy having fiscal, social, and political stability. As such, we welcome international investors seeking to set up a base in and operate out of Luxembourg in a professional and sound regulatory environment.

Finally, Luxembourg ranks high in terms of security, quality of life, and is one of the best countries in the world for attracting talent.

EO: What trends are currently transforming the asset management and investment sector and how are you responding to them?

CT: Transformation occurs through a constantly evolving regulatory environment, representing both challenges and opportunities.

30 | EME Outlook Issue 55

The challenge is to accurately manage the increased workload by ensuring calibrated and proportionate regulation.

Sustainability in finance is a crucial topic, as the asset management industry can be a significant contributor in helping to transition to a greater climate-friendly global economy, and act as a key player in allocating resources to sustainable businesses as well as cultivating growth in the green economy.

Another promising opportunity can also be found in the retailisation or democratisation of private assets, as it is more commonly known. This change represents a significant development not only for Luxembourg, but the European industry as a whole, and opens up private assets in an adequate framework for investors who wish to allocate part of their savings into longterm projects.

ASSOCIATION OF THE LUXEMBOURG FUND INDUSTRY INDUSTRY SPOTLIGHT

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Going forward, the increasing pressure on margins and costs will further drive consolidation in the industry.

EO: How do you see ALFI and the asset management and investment industry developing over the next five years, and how will you navigate these changes?

CT: As an association, we continuously need to demonstrate our relevance through our daily work, by supporting our members in providing investors with investment solutions and helping them achieve their long-term goals.

Secondly, the financial sector has an important role to play in the transition to a more sustainable global economy and in achieving our net zero ambitions. The general interest of both institutional and retail investors in sustainable products is clear and growing. It

is up to the collective management industry to step up the educational work in the interest of supporting the transition through sustainable investments.

We support and encourage financial education initiatives to raise the general public’s awareness of the need to increase knowledge on personal finance and the economy in general.

An important focus of ALFI is to further raise awareness of the need for increased diversity across the financial services industry. ALFI commits to respecting and promoting the principles of non-discrimination, pluralism, and developing diversity in our sector.

Overall, even though we operate in a volatile economic environment, I am convinced that the asset management industry can provide important advice and financial solutions to end investors and manage their long-term savings adequately.

ASSOCIATION OF THE LUXEMBOURG FUND INDUSTRY Tel: 352 22 30 26 1 info@alfi.lu www.alfi.lu EME Outlook Issue 55 | 31

Luxembourg’s Leading Asset Servicing Provider The Luxembourg branch of CACEIS is one of the asset servicing banking group’s operational hubs for Europe, in a country that has become an important international financial centre What makes CACEIS one of the world’s leading asset servicing providers for institutional and corporate clients?

CACEIS has an extensive international network and expertise in a wide array of products and services that are an essential part of the asset servicing business. Our ability to support clients wherever they operate, and provide a ‘onestop shop’ with modular services tailored to their business needs, is key. The above, in combination with solid financial backing from our two

shareholders, Crédit Agricole and Santander, and our ‘partnership’ approach to client relationships helps us maintain our position as a leading player in the market.

CACEIS has had a presence in Luxembourg for more than 25 years. What role does the Luxembourg branch play within CACEIS? CACEIS in Luxembourg acts as an international hub for the CACEIS group’s global business, and our office in the Grand

Philippe Bourgues, Country Managing Director, CACEIS Bank, Luxembourg Branch

Duchy has grown in importance in line with Luxembourg’s everstrengthening position as a European centre for funds. Many clients from the ‘Anglosphere’ benefit from Luxembourg’s expertise as a distribution hub for their international funds, as range rationalisation remains a growing trend around the world. Our Luxembourg office is able to provide expert, multilingual support and has a full understanding of countries’ varied business practices to support clients’ efforts to seek new investors in global markets.

factor. However, Luxembourg’s international reputation and specifically the global recognition of the Luxembourg SICAV brand have much to do with this. Again, range rationalisation trends, and the Grand Duchy’s cross-border distribution expertise, make it a prime jurisdiction in which to do business, and a clear choice for an operational hub for the CACEIS group.

In the last few decades, how has Luxembourg become an important financial centre, particularly in asset servicing?

Throughout the CACEIS group, our aim is to assist clients in achieving their business development objectives. We understand that regulations and business practices differ from country to country and ensure we adapt to client cultures and explain the cultural and market differences to our clients aiming to distribute their products on a crossborder basis. While the cultural elements may differ, the core concept of adapting to the client’s needs is consistent throughout the CACEIS group. Two other groupwide concepts are ‘embracing innovation’ to ensure we offer clients cutting-edge and efficient services; and ‘digitalisation’ to raise straight-through-processing rates, free up staff to work on higher value tasks, and further improve our costto-income ratio. Finally, something that is not only consistent at group level but even rises to shareholder level is our approach to sustainability, captured in the shared motto, “acting every day in the interests of our clients and of society”. We take sustainability seriously, and have established a ‘Sustainability Centre’ that governs our strategy, practices and supplier relationships throughout the group.

Firstly, Luxembourg’s proactive and business-friendly government provides a high level of stability which is reflected in its AAA rating (Fitch). The multicultural population lends itself to operating as a servicing hub for international clients looking to rationalise fund ranges and distribute a single range on an efficient pan-European basis. This trend also coincides with US and EU promotors using Luxembourg, and its SICAV brand, as a springboard to access new markets and clients in Asia. ALFI, the Association of the Luxembourg Fund Industry, actively promotes Luxembourg around the world, championing its advantages, which include a financial ecosystem containing the ‘Big 4’ consultancy firms, flexible and modern investment vehicles (even US/UKstyle private equity structures), and a growing community of Fintech start-ups that are bringing further innovation to the sector.

Why has CACEIS made the Luxembourg branch an operational hub for Europe?

Clearly, a stable country at the heart of the EU, boasting a rich financial ecosystem and a pool of talented men and women from which to recruit is a key

What are the objectives of the Luxembourg branch and how consistent are they with the CACEIS Group’s overall strategy?

How prepared is the Luxembourg branch to continue to support the development of its clients and strengthen its position as the preferred partner for Luxembourg funds?

We feel we are very well prepared to support our clients and strengthen our position in Luxembourg. We have the expert staff, the cuttingedge services, the investment programme that enables us to invest in new product development, the partnerships with leading Fintechs via our Connect Store, and the partnership-style business relationships we enjoy with a highquality clientele. Finally, we have the commitment and the ambition to keep on growing our business by providing effective support across the board.

Organic growth is not the only development strategy we pursue, and CACEIS has been actively acquiring or partnering with strategic businesses since day one.

Our latest acquisition, the European asset servicing activities of Royal Bank of Canada (RBC), is a major one that will transform the CACEIS group and CACEIS in Luxembourg.

As of early July, some 850 staff in Esch-Belval joined our group, and over the coming year, the two entities will become one and launch CACEIS into an even stronger position in Luxembourg. By leveraging our combined expertise, we will maintain our broad offer of value-added services to all of our clients and support their continued development in Luxembourg.

We are looking forward to taking on the challenges and opportunities this wide-ranging acquisition brings, and to welcoming and forming close relationships with our new colleagues from the RBC deal.

For CACEIS in Luxembourg, our staff, and the clients we service, the future looks bright.

CONTACT US CACEIS-Comm-Lux@caceis.com www.caceis.com

S PA R K I N G CHANGE IN THE ELECTRICAL INDUSTRY As the powerhouse behind one of the UK’s most crucial industries, we discuss net zero targets and solutions with former CEO Howard Porter and current CEO Yselkla Farmer, as the British Electrical and Manufacturing Association undergoes its own transition Writer: Rachel Carr | Project Manager: Deane Anderton

T

he global energy sector is rapidly changing as the world faces a climate crisis. The UK, in particular, is renowned as a world leader in cutting greenhouse gas (GHG) emissions faster than any other G7 economy.

However, the retail energy market, responsible for delivering vital changes to help households and businesses reach net zero, has suffered a setback

34 | EME Outlook Issue 55

as the government has changed its energy policies.

The British Electrical and Manufacturing Association (BEAMA) is the UK trade association for manufacturers, providing energy infrastructure technologies and systems. BEAMA has sent a letter to Prime Minister Rishi Sunak, stating the detrimental effect of moving the UK’s green targets.

BRITISH ELECTRICAL AND MANUFACTURING ASSOCIATION (BEAMA) INDUSTRY SPOTLIGHT

EME Outlook Issue 55 | 35

THE UK ENERGY INDUSTRY IN NUMBERS industry,” declares Howard Porter, former CEO of BEAMA. Modern technologies such as • £149 billion in economic activity across the energy sector and electric vehicles (EVs) and heat supply chain pumps are more efficient than vehicles with internal combustion • 66 percent emissions reduction in the power sector since 1990 engines (ICEs) and gas heaters; • 56 percent of electricity generated from low-carbon sources in therefore, the potential for long-term 2022 financial gains has increased.

Today, BEAMA has around 40 EV • 48,459 EV charging points across 29,062 UK locations, infrastructure manufacturers within representing a 42 percent increase since August 2022 its membership, which signifies the change within the energy and utilities sector. However, with the net zero target being pushed back after the UK government made critical policy changes, BEAMA is Representing over 200 companies, from start-ups to concerned about the manufacturers it represents as their small and medium-sized enterprises (SMEs) and large products are essential to energy security, affordability, and multinationals, BEAMA’s members ensure that low-carbon energy and environmental grid services are delivered decarbonisation.

“The real challenge facing BEAMA as a trade body is safely, securely, and efficiently to the UK’s homes, that we represent a wide range of suppliers in the electrical businesses, transport, and grid networks. space. The sector benefits from how we deliver services “BEAMA was formed 115 years ago, but the focus of our for members because we can facilitate conversations activities has changed. When I started in 1988, there was no strategy on climate change and very little on energy between heat pump manufacturers and EV charging point manufacturers,” adds Yselkla Farmer, BEAMA’s new CEO. efficiency. BEAMA has subsequently helped to evolve the • £100 billion planned investment in new energy sources over the next decade

36 | EME Outlook Issue 55

BRITISH ELECTRICAL AND MANUFACTURING ASSOCIATION (BEAMA) INDUSTRY SPOTLIGHT

A CHARGED STATEMENT As recently as six months ago, the UK government’s Powering Up Britain document stated that it was “setting a clear policy framework on energy security and net zero”.

This month’s public statement from the Prime Minister discussed slowing efforts to reduce dependency on fossil fuels, which is not only expensively volatile in cost but also jeopardises the economic benefits and opportunities that the transition towards net zero brings in terms of employment.

“Our focus is now on low-carbon technologies, and net zero is currently at the forefront of what we do as an organisation. From BEAMA’s perspective, we are moving to a future where every member is committed to net zero,” explains Farmer.

“All companies must do what they can to alleviate climate change and work together to develop an entirely electrical future,” Porter adds.

For example, businesses can invest and innovate to reduce the cost of low-carbon technologies needed for EVs and heat pumps.

However, when making such long-term investments, these companies need certainty and stability as any sudden change to net zero policies or targets could be damaging.

EME Outlook Issue 55 | 37

BRITISH ELECTRICAL AND MANUFACTURING ASSOCIATION (BEAMA) INDUSTRY SPOTLIGHT

“A L L C O M P A N I E S M U S T D O W H AT T H E Y C A N T O A L L E V I AT E C L I M AT E C H A N G E A N D W O R K T O G E T H E R T O D E V E L O P A N E N T I R E LY E L E C T R I C A L F U T U R E ” – H O WA R D P O R T E R , F O R M E R C E O , B E A M A

According to Farmer, investors need certainty and commitment from the government, and UK net zero targets represent a huge opportunity for employment and inward investment in the energy sector.

However, the progress made in the energy industry is now suffering a setback due to instability caused by the government’s statement, as businesses and finance markets are conflicted about the suitability of investment in clean technology.

Despite the delayed green targets, the transition to a more sustainable and resilient energy system continues to be a priority for the UK electrical industry and its stakeholders. The industry has continued to grow, evolve, and make substantial efforts to move towards renewable energy resources.

38 | EME Outlook Issue 55

The bombshell government announcement outlined plans to shelve the 2030 ban on selling new petrol and diesel cars for five years. Broader global trends towards cleaner energy are reflected in the growth of the UK’s EV sector, so if the scheduled ban on petrol and diesel car sales was to go ahead, the boost to the electrical manufacturing industry would have accelerated the development of EV infrastructure.

“A lot of innovation is happening, but the EV charging network is one of our most significant growth areas,” Farmer confirms.

The new approach has also loosened the 2035 phasing out of gas boiler sales when landlords will not be obliged to insulate their rental properties to a higher standard. The phasing in of heat pumps, meanwhile, allows consumers to stop relying on ever-more expensive gas.

EME Outlook Issue 55 | 39

“OUR FOCUS IS NOW ON LOW-CARBON T E C H N O L O G I E S , A N D N E T Z E R O I S C U R R E N T LY AT T H E F O R E F R O N T O F W H AT W E D O A S A N O R G A N I S AT I O N ” – Y S E L K L A FA R M E R , C E O , B E A M A

FACING THE FUTURE BEAMA will change and evolve over the next five to 10 years as renewable energy continues to significantly grow, particularly in the offshore wind sector. During the energy transition, the national grid will also need significant investments and changes to enable the energy transition.

“BEAMA needs a new vision to take it forward to become the leading organisation of the electrification of Britain – the vast majority of products required for that are 40 | EME Outlook Issue 55

under BEAMA’s umbrella,” Porter observes.

“In terms of BEAMA’S future vision, it represents some sectors that are growing dramatically. The EV sector is one of them, and our focus isn’t just on EV charging infrastructure, but on electric transport overall,” elaborates Farmer.

The UK can create a modern, world-leading energy system fit for the 21st century that delivers energy for everyone. The goal of net zero is an opportunity for a

BRITISH ELECTRICAL AND MANUFACTURING ASSOCIATION (BEAMA) INDUSTRY SPOTLIGHT

greener and more prosperous country.

“We are entering a challenging period. Some market areas have stagnated for too long, and we must progress.

Our extensive growth areas are in EVs, electricity networks, and smart buildings, which come from our unique position in representing the full breadth of the supply chain. As a result, BEAMA now represents over 90 percent of the market,” states Farmer.

As the industry embraces digital tools for design, simulation, and maintenance, Porter will continue to develop a digital twin after retiring from BEAMA for the UK’s energy systems, which means changing the grid assets in the cloud and then designing and implementing them at a physical level.

The industry’s future is characterised by sustainability, efficiency, and innovation as it adapts to meet the world’s evolving energy needs and environmental challenges.

Meanwhile, the rest of the year for BEAMA includes an upcoming annual event, which brings all its members

together with the government and key stakeholders from the utilities sector.

“Jonathan Reynolds, Shadow Secretary of State for Business and Trade, will be a keynote speaker at November’s event, but the primary focus is to recap the year and look ahead at our strategy to discuss and close in on the delivery of net zero,” Farmer concludes.

www.beama.org.uk

Find a BEAMA Member

Find out about the services we provide for Members & Non Members

Speak to us about membership

Connect with us on social media

Attend an Industry Event

EME Outlook Issue 55 | 41

HEAVY LIFTING ENGINEERS Gabriel started out on his own in 1983 before officially setting up the business. The company was founded in 1989 by Gabriel O’Brien with one 15-tonne mobile crane on his books. Since then, the fleet has grown to one of the largest in Ireland, boasting over 50 cranes within its ranks. Gabriel now runs the company alongside his sons, Conor, Darragh and Bobby.

The entire fleet of cranes is kept in pristine condition, with a complete update carried out within the last three years. This commitment to keeping its equipment up to date has led to the company owning Ireland’s only Self Propelled Modular Transporter, an item that makes all the difference when it comes to lifting projects by being able to transport the massive hardware that can be needed to complete complicated works.

Gabriel O’Brien Crane Hire has a range of cranes for hire that spans from 800-tonne mobile and 11350 crawler cranes down to 3.5-tonne spider cranes that can fit in the tightest of spaces. These are used in a wide variety of onshore and offshore industries, including the construction, oil, and wind energy sectors.

The company is available 24 hours a day and offers a comprehensive service, from its free site inspection to the execution of a lift; including detailed pre-planning, fully qualified operatives, and unrivalled attention to detail. It is this thorough nature that led to the organisation being taken on to complete Cloncreen Windfarm and Lisheen 3 Windfarm as two of its recent projects alongside Clogheravaddy Windfarm in the last ten months.

Across the process of each lift, the engineering expertise of Gabriel O’Brien Crane Hire shines through. Its staff are certified in both Ireland and the UK and equipped for manual handling and working at heights, and the team has a vast knowledge of lifting across a whole range of industries. Its planning process includes full CAD drawings of how the lift will be carried out, using the most modern engineering expertise to work around wind resistance, underfoot conditions and any other factors which may influence the lift.

This all goes towards ensuring that all work is completed in the most hassle-free yet fully secure environment for its clients. Due to its detailed planning and proven track record, Gabriel O’Brien Crane Hire have been trusted with some of the most challenging projects across Ireland and the UK. Its impeccable safety record goes together with its attention to detail in both the preparation and carrying out of all lifts.

Most of the work is done before any lift takes place, with site investigation and careful planning, including RAMS (Risk Assessment Method Statements) and 3D CAD drawings being created to map out even the most complex projects in detail.

All of this combines to make Gabriel O’Brien Crane Hire a company to trust with your project lifts.

Tell us your story and we’ll tell the world EME OUTLOOK is a digital product aimed at boardroom and hands-on decision-makers across a wide range of industries in Europe and the Middle East regions.

With content compiled by our experienced editorial team, complemented by an in-house design and production team ensuring delivery to the highest standards, we look to promote the latest in engaging news, industry trends and success stories from the length and breadth of Europe and the Middle East.

Reaching a combined audience of more than 395,000 people, EME Outlook covers a full range of industrial sectors: agriculture, construction, energy & utilities, finance, food & drink, healthcare, manufacturing, mining & resources, oil & gas, retail, shipping & logistics, technology and travel & tourism.

In joining the leading industry heavyweights already enjoying the exposure we can provide, you can benefit from FREE coverage across our digital platforms, a FREE marketing brochure, extensive social media saturation, enhanced B2B networking opportunities, and a readymade forum to attract new investment and to grow your business.

To get involved, please contact Outlook Publishing’s Managing Director, James Mitchell, who can provide further details on how to feature your company, for FREE, in one of our upcoming editions.

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rtunity

GO PLC TECHNOLOGY

w w w. e m e o u t l o o k m a g . c o m

Issue 55

KEEPING M A LTA CONNECTED Nikhil Patil, CEO, GO Plc

We revisit GO Plc and discuss the group’s continued impressive growth in Malta’s telecoms industry during the course of the past year, with CEO Nikhil Patil

KEEPING MALTA CONNECTED

We revisit GO Plc and discuss the group’s continued impressive growth in Malta’s telecoms industry during the course of the past year, with CEO Nikhil Patil Writer: Jack Salter | Project Manager: Josh Hyland

Malta’s telecoms industry is still going strong, and I’m happy to report that we remain one of the fastest growing telcos in the country.”

GO Plc (GO) is one of Malta’s leading communications service providers. It is the country’s largest group of companies, boasting majority holdings in BMIT Technologies p.l.c. (BMIT), Connected Care Ltd, SENS Innovation Group Ltd (SENS), and CyberSift Holdings Ltd (CyberSift), as well as Cablenet Communications Systems p.l.c.

(Cablenet) in Cyprus.

In the latest juncture of a journey that dates back over half a century, the first six months of this year have seen the GO Group achieve impressive revenues of €120.5 million, equating to a 13.7 percent increase on the equivalent period in 2022.

Revenue from its Malta based operations – predominantly GO and BMIT Technologies - grew by 9.5

percent, driven by a strong demand for fixed broadband, TV, and mobile services, where GO has continued to capture a significant share of overall market growth thanks to its suite of innovative products and services.

“As the first quad play provider in Malta, we provide mobile, fixed line, internet, and TV services to more than 500,000 connections,” says Nikhil Patil, CEO of GO and orator of the opening statement.

“We also provide unrivalled services to the Maltese business community, including cloud, roaming, data networking, business IP, and managed services.”

GO has achieved this by investing heavily in its true fibre-powered infrastructure, being the first and only Maltese operator to have access to three submarine cables connecting the islands to the web and the only one with a fully integrated fixed/ mobile network for a seamless experience.

INT

Installations Network Technologies Ltd.

Text & Vector

Full Vector

EME Outlook Issue 55 | 47

C A M I L L E T H O M M E S , Director General of the Association of the Luxembourg Fund Industry tells us how ALFI is helping to bolster the sector

www.emeoutlookmag.com/work-with-us

GO PLC TECHNOLOGY

KEEPING M A LTA CONNECTED Nikhil Patil, CEO, GO Plc

We revisit GO Plc and discuss the group’s continued impressive growth in Malta’s telecoms industry during the course of the past year, with CEO Nikhil Patil Writer: Jack Salter | Project Manager: Josh Hyland

Malta’s telecoms industry is still going strong, and I’m happy to report that we remain one of the fastest growing telcos in the country.”

GO Plc (GO) is one of Malta’s leading communications service providers. It is the country’s largest group of companies, boasting majority holdings in BMIT Technologies p.l.c. (BMIT), Connected Care Ltd, SENS Innovation Group Ltd (SENS), and CyberSift Holdings Ltd (CyberSift), as well as Cablenet Communications Systems p.l.c.

(Cablenet) in Cyprus.

In the latest juncture of a journey that dates back over half a century, the first six months of this year have seen the GO Group achieve impressive revenues of €120.5 million, equating to a 13.7 percent increase on the equivalent period in 2022.

Revenue from its Malta based operations – predominantly GO and BMIT Technologies - grew by 9.5

percent, driven by a strong demand for fixed broadband, TV, and mobile services, where GO has continued to capture a significant share of overall market growth thanks to its suite of innovative products and services.

“As the first quad play provider in Malta, we provide mobile, fixed line, internet, and TV services to more than 500,000 connections,” says Nikhil Patil, CEO of GO and orator of the opening statement.

“We also provide unrivalled services to the Maltese business community, including cloud, roaming, data networking, business IP, and managed services.”

GO has achieved this by investing heavily in its true fibre-powered infrastructure, being the first and only Maltese operator to have access to three submarine cables connecting the islands to the web and the only one with a fully integrated fixed/ mobile network for a seamless experience.

EME Outlook Issue 55 | 47

GO PLC TECHNOLOGY

EME OUTLOOK: CAN YOU TELL US MORE ABOUT YOUR INVESTMENT IN A NEW ZERO-CARBON HEADQUARTERS? Nikhil Patil, CEO: “Every company should have a social and moral obligation to integrate ESG into its business, and we have done exactly that in our new headquarters.

“We will be investing close to €20 million in this facility, which is set to become one of the first net zero buildings on the island. So far, we have installed over 3,000 solar panels on the walls, rooftops, and in the car park, which will generate over 1 megawatt (MW) of solar energy – enough to power 350 households!

“A reservoir under the building will store and recycle water, whilst SENS’ cutting-edge BMS technology will manage our lighting and air conditioning consumption by only activating when locations are occupied. We have already relocated our network operations centre to the new headquarters, whilst the rest of the organisation will move by the end of 2024.

“The intention is for the building to be fully self-sufficient in terms of energy generation and consumption.”

48 | EME Outlook Issue 55

“GO has also registered notable growth revenue from roaming services and other international wholesale business, as well as an increased demand for bespoke technical solutions,” Patil adds.

GROWTH AREAS BMIT, one of six subsidiaries that GO has majority holdings in, likewise grew its total revenues by €2.2 million (17.3 percent) in the first half of 2023 compared to the same period in 2022, reflecting the company’s focus on the growth areas of hybrid IT, cloud, and managed IT services.

BMIT remains Malta’s largest provider of colocation and data centre services and a leading cloud and managed IT services provider, delivering to over 500 corporate customers across various industries.

Another GO subsidiary, Cablenet, has achieved an even more remarkable revenue increase of €7.2 million (24.1 percent), which reflects

the subscriber gains resulting from a higher market share and expanded network footprint.

“The subscriber gains materialised across our residential and business customer bases for both fixed and mobile services, with the latter also being the division with the strongest subscriber and revenue growth,” outlines Patil.

Complementing this growth in revenue is a strict cost discipline across all operations and group subsidiaries, which has enabled GO to convert a significant portion of the incremental revenues generated into profitability.

“The nature of our businesses and the expertise across the group has also enabled us to create greater efficiencies in our operations, for example, by engaging in the joint procurement of goods and services and sharing technical, commercial, and governance best practices,” Patil elaborates.

INT

Installations Network Technologies Ltd.

Installations Network Technologies Ltd. is a Maltese turnkey provider significant knowledge and experience in relation Text & with Vector to the implementation and maintenance of communication systems including the underlying physical infrastructure.

Full Vector The solution portfolio includes: • 2nd to 5th generation cellular wireless technology systems • Fiber to the home (FTTH) infrastructures • Commercial photovoltaic systems and solar thermal systems • Commercial electrical, UPS and generators installations • Maritime communication systems (radar, AIS, voice, network, etc.)

OUR VISION AND MISSION Our aim is to be a leading infrastructure provider through the use of the latest and most innovative technologies available on the market.

In doing so, we commit to actively contributing to sustainable development through environmental protection, social responsibility and economic progress.

To us, that means meeting the needs of society today, while respecting the ability of future generations to meet their needs.

At Installations Network Technologies Ltd., we never stop improving. It takes passionate, dedicated and talented employees to deliver the best service that our customers expect and deserve.

OUR VALUES Quality, professionalism and unwavering commitment to excellence.

CONTACT US: Installations Network Technologies Ltd. 141 St Joseph Triq il – Brunzar St. Venera.

SVR1251 Malta.

Tel:+356 99998124 +356 99998125 +356 99998126 Email: info.intmlt.com Website: www.intmlt.com

GO PLC TECHNOLOGY

“ T O D AT E , G O I S T H E O N LY T E L C O I N M A LTA T H AT I S N E A R I N G THE COMPLETION OF A TRUE FIBRE NETWORK T H AT D E L I V E R S C O N N E C T I V I T Y AT T H E S P E E D O F L I G H T, R I G H T I N TO T H E H E A R T O F I TS C U STO M E R S ’ H O M E S AND BUSINESSES” – N I K H I L P AT I L , C E O , G O P L C

Despite the ongoing challenge of inflation, GO has managed to maintain its administrative and operating costs at a similar level to last year.

Consequently, the group achieved its highest-ever biannual earnings before interest, tax, depreciation, and amortisation (EBITDA) of €45.4 million, an increase of €4.2 million (10.2 percent).

The group delivered a net profit for the period of €9 million, a remarkable increase of €3 million (49.4 percent) compared to the same period in 2022.

SENS INVESTMENT Taking the Internet of Things (IoT) to new heights with a leap into green technology, GO acquired majority shareholding in SENS through an initial €1 million investment in March 2022, with the potential to increase to approximately €3 million.

SENS is an energy management company that leverages proprietary IoT-based technology to reduce energy consumption and associated costs for commercial buildings. It designs and builds customised solutions for clients that improve their business operations and efficiencies whilst also contributing to the environmental responsibilities that modern 50 | EME Outlook Issue 55

business governance and legislation demands.

Large hotels and commercial clients are served by SENS, such as the Westin Dragonara Resort and Intercontinental Hotel in Malta, the Kempinski Hotel in the Seychelles, the Beachcomber Group and Royal Palm Beachcomber Luxury in Mauritius, Marriott and the Ascott Group in the UK, and the Movenpick Hotel Apartment in Dubai.

All systems, sensors, and integrations are designed in-house, which enables SENS to offer the highest level of support to its clients.

Essentially, the company specialises

in the provision of room energy management systems (REMS) for the hospitality and health industries, including retrofit guest room management.

“REMS maintains guest room comfort at the highest energy efficiency and provides analytics related to room energy performance,” explains Patil.

“The system enables the operator to control energy requirements to meet guest comfort prerequisites, seasonality, occupancy fluctuations, and operational requirements that affect energy efficiency.”

GO PLC TECHNOLOGY

Partnering for progress More than twenty years ago, MIB, one of Malta’s largest insurance brokers, proudly joined forces with GO, the forefront telecommunications leader. Our unparalleled expertise, global reach and tailored solutions complement GO’s visionary strides.

Join us in securing your future at mib.com.mt Mediterranean Insurance Brokers (Malta) Ltd. Zentrum Business Centre, Level 2, Mdina Road, QRM 9010, Malta T +356 234 33 234 E info@mib.com.mt Mediterranean Insurance Brokers (Malta) Ltd., C3540, is enrolled under the Insurance Distribution Act and is regulated by the MFSA.

EME Outlook Issue 55 | 51

GO PLC TECHNOLOGY

TRUE FIBRE ROLLOUT

SENS also focuses on building management systems (BMS) to produce energy-effective and comfortable environments in commercial buildings such as offices, retail complexes, and educational institutions.

Through its custom BMS, SENS brings all existing systems and controls – regardless of the manufacturer’s hardware – together through applications based on leading open-source standards to improve building functionality and reduce costs.

REMS and BMS are integrated into the proprietary energy management and operations cloud-based platform, REACH™, which produces actionable insights from data collected from an operational building and automatically generates reports, KPIs, and alerts in real time.

The REACH™ platform has a user-friendly mobile app to alert the responsible person if KPIs veer from 52 | EME Outlook Issue 55

the allowable range and is designed to help businesses reduce their carbon footprint, lower energy wastage, and increase profitability.

“We are very excited about this investment because it bridges two areas that GO is very passionate about – IoT technology and environmental sustainability,” Patil shares.

“We have long established ourselves as innovators on the technology front, so combining this with a company like SENS, which has experience in IoT and green tech, is a natural step forward in not only realising our sustainability ambitions, but helping our own customers, predominantly our business clients, to reduce their carbon emissions.

“SENS is a home-grown company that has created great value through its positive contribution to climate change, has created local job opportunities, and has huge potential to continue expanding in foreign markets,” he continues.

One of GO’s biggest nationwide projects to date, meanwhile, is its True Fibre network rollout, which commenced back in 2016.

A €100 million project, it makes GO the biggest investor in Maltese digital infrastructure and the only operator locally that is nearing the completion of a nationwide True Fibre network that goes right into the premises, be it a home, office, or other dwelling.

In clearer terms, the network does not stop at the sidewalk cabinets, as the fibre optic cable is delivered straight to the connected modem inside the premises. This means that users can enjoy the real benefit of an end-to-end fibre connection. It is well on track to reach nationwide coverage by the end of 2024, which will put Malta at the head of the EU leaderboard in terms of ultra-fast broadband connectivity.

“One cannot underestimate the importance of this project,” emphasises Patil.

“10 to 15 years ago, many of us used the internet mainly to browse a website or send an email. Things have changed dramatically since then; today, we need the internet to speak

GO PLC TECHNOLOGY

to our loved ones near or far, carry out our banking needs, enjoy the convenience of online shopping, play online games, or watch our favourite TV content.”

Equally, with more and more people working from home, reliable and fast internet connectivity is needed for remote or hybrid employees.

“More importantly, our reliance on the internet will continue to grow in ways that we can’t predict, but what we can do today is provide access to a network that can handle our digital ambitions for the next 100 years – True Fibre is the answer.”

GO’s True Fibre network allows life to happen at light speed and is set to futureproof homes, businesses, and communities.

It hasn’t been without its challenges, however, with GO learning a lot along the way. For example, it has since shifted to stone-coloured cabling to better blend with the Maltese environment.

GO has also developed faster and more efficient ways of deploying fibre and is managing to pull back its copper network on a case-by-case basis.

SYSTEM UPGRADES As well as investing in Malta’s digital infrastructure, GO has invested millions of euros over the last three years to upgrade its systems and digital platforms to become more efficient operationally and improve the customer experience.

Significant time and energy have been put into digitising GO’s customer contact channels by providing a variety of mechanisms for customers to engage with GO and self-serve without the need to interact with a member of the team.

“Customers can engage with us via telephone, our chatbot, the GO app, Facebook Messenger, and also on WhatsApp,” Patil informs us.

GO has subsequently seen a huge shift in this regard, with 53 percent of all customer interactions taking place digitally in Q1 2023 compared to 13 percent in Q1 2020.

Subscription renewal processes have also been digitised by the group, EME Outlook Issue 55 | 53

GO PLC TECHNOLOGY

“ M A LTA’ S T E L E C O M S I N D U S T R Y I S S T I L L G O I N G ST R O N G , A N D I ’ M H A P PY TO R E P O R T T H AT W E R E M A I N O N E O F T H E FA S T E S T GROWING TELCOS IN THE COUNTRY” – N I K H I L P AT I L , C E O , G O P L C

as well as contract management, which today is all done digitally via Scrive.

“Of course, moving customers to new ways of interacting is never without bumps in the road,” acknowledges Patil.

“Some customers simply prefer to talk to a human, others are not very digitally literate, and there are some questions that a chatbot simply can’t answer. The challenge is to support all customers through this transition and keep improving digital self-service and support so that sooner rather than later, it becomes the simple, seamless, and default way to do things.”

54 | EME Outlook Issue 55

In March this year, as part of GO’s huge digital transformation, the group also successfully completed a significant upgrade to its billing system, which makes it better positioned to meet the ever-changing needs of customers while delivering more innovative services and reducing operational costs.

Considering over 180,000 bills are issued monthly, this upgrade took considerable planning and coordination due to its complexity.

To put things into perspective, it required over 26,000 manual and 1,400 automated tests, over 150 deployments, and more than 20 teams were involved in the process,

whilst 36 million bills and 450,000 subscriber data were migrated to the new system.

“Of course, these are just a few examples of the numerous upgrades we have made to a number of business support systems, which may not involve a big change from the customer’s viewpoint, but have been critical to ensure seamless operations today and in the future,” Patil notes.

DEDICATED CHANNEL Elsewhere, looking back on GO’s TV journey, a lot of the group’s investment had previously focused on the technology, platform, and user interface.

Over time, however, the group realised that if it really wanted to give customers the experience they were after, it had to deliver more of the content they loved.

Statistics also clearly showed that the Maltese community has a clear and strong appetite for local TV content, particularly dramas. On the flip side, GO recognised that the production industry in Malta was facing financial and other resource constraints, limiting the quantity and quality of dramas that could be produced yearly.

“We faced a situation where we had the technology, the resources, and the demand, so we just knew that content production had to be the next step in our customers’ experience,” Patil tells us.

GO therefore created its own dedicated TV channel, TOKIS, which is Malta’s first ever library of local TV content. Furthermore, the group committed €1 million yearly to support the local film industry.

“The feedback so far has been phenomenal. We reach 155,000 daily views on TOKIS, now exceeding four million views since its launch just one year ago. Collectively, we offer over 5,000 hours of entertainment, with content growing constantly.”

EMPLOYEE WELL-BEING AT GO Over the past year, GO has been exemplary in setting industry standards when it comes to the financial, mental, and emotional well-being of employees. Key achievements include: • Record-high employee satisfaction scores • 33 percent increase in learning hours • Four weeks of paid leave for nonbirthing parent • Four weeks of paid leave for women experiencing pregnancy loss • Special paid leave for employees going through difficult situations • Temporary work from abroad policy • Hybrid, remote, and flexible work environment • Unlimited paid therapy sessions • Unlimited paid coaching sessions

Today, TOKIS is ranked amongst the top three most viewed channels in Malta, whilst GO’s on-demand content also gets over 320,000 views monthly, with the appetite of local producers reignited and an increasing number of collaborations bringing new, varied, and fresher content to customers.

PEOPLE AND PARTNERSHIPS GO cannot serve these customers, however, without its staff, partners, or suppliers, who are all essential to the group’s operations and success.

“We have a nationwide copper network, are nearing completion of our True Fibre network, have rolled out a 5G network, operate three undersea cables, are at the tail end of our digitalisation journey, and have majority shareholding in six other companies – the complexity that comes with this and the specialised skills required in a number of areas need no explanation,” says Patil.

With an operation of GO’s magnitude, the group’s overall well-being and strong business relationships with partners and suppliers are essential for mutual success.

Indeed, whilst GO is a technology group, its multicultural makeup of people from as many as 30 different countries is always at the heart of what it does.

“We have worked very hard on developing the right culture at GO that enables our people to grow both personally and professionally whilst striking the right work-life balance,” Patil concludes.

GO PLC Tel: +356 8007 2121 www.go.com.mt EME Outlook Issue 55 | 55

TRITON POWER ENERGY & UTILITIES

T H E P OW E R O F

RESILIENC The UK energy network is vast and complex, supported by private enterprises such as Triton Power.

CEO, Mick Farr explains its role in offering stability and security Writer: Jack Salter | Project Manager: Jack Belton

T

riton Power is a power generator, recently acquired on a 50/50 joint venture basis by two energy powerhouses, Equinor (Norway) and SSE (UK).

Since the start of its operations in 2017, Triton Power has been on the journey to transition to become more sustainable. Triton Power offers several services to the Energy System Operator as well as energy to national and local customers at Saltend from its cogeneration facility.

Awarded a six-year contract from the National Grid in 2021, Triton Power has developed a world-first approach to managing energy stability and continues to explore new ways to resurrect old sites and lead the transition to emission-free gases such 56 | EME Outlook Issue 55

as hydrogen.

Mick Farr has worked his way up from an apprentice at 16 to the top seat as CEO, traversing the world in several functions to understand the energy business inside and out.

Over half of the operations team at Triton Power is comprised of former apprentices.

“Creating your own skill base certainly works for us. I still sit in the production meetings, and I just love how it all works. I’m an engineer, I solve problems.”

The seasoned CEO has experienced earthquakes, fires, and explosions – career-level scars he has learned greatly from. “It’s never boring and certainly never dull,” he proclaims, speaking of his experience across

nuclear, gas, coal, and presently, new energies like hydrogen.

Farr supports the need for decarbonisation, but also offers a sense of reality when it comes to the people affected by these lofty emissions targets.

Farr suggests, in the case of electric vehicles (EVs), for example, that “it’s a great idea in principle, but you’ve got people who cannot afford to change.

New petrol and diesel cars being phased out by 2030? The electrical charging network is still some way off in terms of acceptable infrastructure for this to be an achievable target.”

Farr readily admits the need for government policy to determine the direction, but the problem lies chiefly in having the infrastructure to force things through.

One of the first critical steps towards decarbonisation suggested

by Farr is to massively extend the pylon network across the country and to upgrade the transformers and the underground cables.

“The cost of upgrading this infrastructure is astronomical if we want to reach net zero. I think the focus needs to balance between infrastructure but also switch attention to resilience in the form of

CE

flood defences and storm overflows,” he adds.

“I don’t think there’s enough realism in the discussion about the transition to net zero and the risks if we don’t do it carefully.”

Farr suggests a backup system needs to ideally include the levelised costs of renewable energy. Solar and wind make the headlines for being low cost, but when considering climatic conditions when the UK has no sun or

wind, a backup system is essential.

“Without a functioning electrical network system, chaos would ensue pretty quickly. When you make changes to the UK grid system to drive to net zero, you need to do it safely and securely and understand it properly to avoid the massive risks involved. As a business, we essentially provide emergency grid services to the National Grid. If something goes wrong with the network, you need the ability to restore it,” Farr continues.

AGILITY PROVIDED BY PRIVATE ENTERPRISES Triton Power plays a vital role in the energy security of the UK, but most

are unaware of the role these private enterprises play in the country’s network resilience.

“What I think many people may not necessarily understand is the energy security that large industrial scale thermal generation from natural gas provides to them,” he continues.

Every UK power station relies on this security and electrical grid security is therefore underpinned by this.

EME Outlook Issue 55 | 57

TRITON POWER ENERGY & UTILITIES

THE ENERGY TRILEMMA Regulation of the domestic energy market is a key responsibility of the national government to ensure the secure operation of industry and society, but there are often tensions around the different outcomes or priorities of these policies. For those who work in the field of energy, the World Energy Council’s energy trilemma can be a good way of conceptualising the three energy policy concerns, which are often difficult to reconcile and in conflict with each other. The energy trilemma consists of: 1. Energy equity, which aims to make energy affordable for consumers 2. Energy security, which seeks to ensure the reliability of energy sources, including price and geopolitics 3. Energy sustainability, which seeks to minimise environmental harm, such as climate change emissions Warwick.ac.uk

58 | EME Outlook Issue 55

“I can tell you that our customers value reliable, secure energy as much as price and green credentials. In my opinion, the energy trilemma has concentrated on price and green credentials for many years, but now we now rightly need to focus on the security of our power/energy, our industry, and our country,” Farr explains.

The energy trilemma is focused on equity, sustainability, and security and is one of the major challenges when dealing with decision-making around energy demands.

Utilities can be notorious for their layers of bureaucracy, so in Farr’s case, it was a refreshing change when he switched to private equity and found he could make decisions faster.

“They give you the business to run how you see fit. Many large utility companies claim to be agile and nimble, but that doesn’t seem to be the reality. They appear too fearful of getting things wrong,” Farr continues.

Large utility companies can often be overly weighed down by lengthy governance and decision-making

processes that are excessively controlling.

Triton Power, in contrast, prides itself on individual ownership, trust in experience, and accountability. By letting managers do their jobs and make decisions at the sharp end in real time, they are able to outflank the competition and move faster.

“Triton Power, like a lot of smaller businesses, is truly agile; when there’s a decision to be made, with the core management team being on site at the Saltend Power Station, we can all typically get in a room there, have a meeting in real time to discuss the matter at hand, and make a decision in the room. Otherwise, we can agree the appropriate next course of action and follow up straight away. We aren’t striving for perfection; we accept the 80:20 rule works. Trying to get things right 99 percent of the time is a law of diminishing returns. By contrast, in larger corporations, managers are too wrapped up in internal red tape and the actual decision-makers are typically too far removed from day-to-day operations to have a

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TRITON POWER ENERGY & UTILITIES

a carbon tax, which has affected behaviours in the country, largely for the better, but heavy industries such as steel have left the UK and it’s production is now outsourced overseas. The same is true with nitrogen. All these things are imported, and this isn’t included in the net zero emissions,” Farr explains.

ENERGY STORAGE

“LET’S GET THE SECURITY OF OUR COUNTRY R I G H T F I R S T B E F O R E W E R I G H T LY F O C U S ON DELIVERING A GREENER FUTURE” – M I C K FA R R , C E O , T R I T O N P O W E R

strong enough understanding of the issues. They can have a meeting to discuss the situation but then have to go through several internal layers of reporting and sign off before any final decision can be taken,” Farr suggests.

NET ZERO REALITY CHECK NGOs and Just Stop Oil have received significant media coverage in recent times, but as Farr sees it, if things go wrong and network support is required, they’ll be thankful for the security that backup energy providers like Triton Power bring, to enable the UK to keep the lights on.

There are also the hidden costs that aren’t factored into the lofty net zero 60 | EME Outlook Issue 55

target-setting.

“Net zero is a great idea, but when we rely on manufactured imports, it defeats the objective,” Farr adds.

China’s annual incremental emissions increase in 2022 alone, for example, was higher than the UK’s entire annual emissions in total, which magnifies the scale of the challenge – and it’s one the UK cannot face effectively unless there are global widespread changes.

“There’s no point bankrupting the UK and forcing businesses into financial distress due to energy costs if it’s not going to make any difference globally.

“Emitters of carbon in the UK pay

The power station at Saltend provides approximately two percent of the UK’s energy when running at full output. Gas is provided by the highpressure network with some coming from the indigenous gas sources, but much of it is imported, such as methane sourced from Norway and LNG from places such as the Middle East and Australia.

The National Transmission System (NTS) transports high-pressure natural gas around Great Britain via thousands of miles of pipelines, supplying large end users such as power stations and large industrial plants, whilst it also receives gas injections from the main gas terminals and gas producers.

More energy is used during the day, with that energy stored in the gas network to be released into the electrical network. With the recent trend of lower investment in wind energy and lower wind production, there are stark realities for the state of the UK’s energy requirements.

To put it into perspective, Farr adds on stored energy and batteries in particular, that “if you plugged in every single electric car and all the batteries and grid-scale batteries, and calculated what that means in relative terms for the energy system, it would only last a few minutes; you’re going to need weeks of it to make a difference.”

To further heed caution, Farr also makes references to the neighbourly European interconnectors, such as France and Belgium, who understandably have their own

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EME Outlook Issue 55 | 61

TRITON POWER ENERGY & UTILITIES

energy needs. In any pan-European energy crisis, it is not unthinkable to assume they would be likely to serve their own interests over the energy requirements of the UK, should it come down to them having to make such a choice.

“If you look at how vulnerable subsea infrastructure is when it comes to geopolitical crises, such as the Russian pipelines, it raises serious concerns about the government’s historic preference of price rather than security. Fortunately this is changing, however, and I fully support it. Let’s get the security of our country right first before we rightly focus on delivering a greener future,” insists Farr.

A HYDROGEN-POWERED FUTURE Triton Power uses steam applied to power the global chemicals industry, including the manufacturing of 62 | EME Outlook Issue 55

“ N E T Z E R O I S A G R E AT I D E A , B U T W H E N W E R E LY O N I M P O R T S , I T D E F E AT S T H E OBJECTIVE” – M I C K FA R R , C E O , T R I T O N P O W E R

products such as vinyl acetate (used in paint products), acetic acid (a food preservative) and bioethanol (used to make petrol greener). Medical grade oxygen and aspirin are also some of the pharmaceutical products that Triton Power’s energy and steam ultimately helps to manufacture.

Given the high energy demand and stability requirements for chemical manufacturing, it is a sector that is notoriously difficult to decarbonise.

Triton Power’s gas-powered turbines are provided by Mitsubishi Heavy Industries, whom Farr recently went to visit at their hydrogen park in

Tagasago, Japan.

The work Mitsubishi Heavy Industries is doing to burn and blend hydrogen in gas turbines represents the next step in Triton Power’s sevenyear journey to decarbonisation, beginning with the conversion of its Deeside Power Station to a synchronous compensator, in effect an emission-free dampening system for the UK network that functions like a giant flywheel, assisting with fluctuations in the National Grid as a service.

“This was recycling of a power station on a grand scale,” Farr states.

To be emission-free, power stations can use either pre-combustion (hydrogen) or post-combustion (capturing gases in an exhaust stack).

Hydrogen is an expensive gas, but it’s use does not require the payment of any carbon tax.

In order to get real traction on a national scale, hydrogen needs significant investment in infrastructure and a shift in policy decisions from government.

“The business model is still unclear, but if we really want to decarbonise the chemicals industry and the reserve backup energy system, hydrogen really is the only choice,” Farr believes.

Hydrogen — the most abundant element on the planet — is extremely difficult to store and has a wide explosive range. Without appropriate skills and controls, it doesn’t take much energy to create a spark and lead to an explosion.

“The shift to hydrogen has to be done properly and handled with care, and for that you really need experts.

In my view we certainly won’t be

running around in hydrogen-powered cars due to the risks involved, but our generators are currently cooled by hydrogen. We’re familiar with its use and how to store it.

DEVELOPMENTS TO COME It is not yet clear whether Triton Power will develop its Welsh Deeside site into battery storage, or alternatively, a hydrogen peaking facility, given a hydrogen network is expected for Hynet, the northwestern industrial cluster local to Runcorn and Stanlow - one of the largest oil refineries in Europe covering an area the equivalent of 300 football pitches.

While ambition is there in spades for Triton Power, Farr explains that in order for smaller enterprises like themselves to exist and flourish, there needs to be adequate market conditions to invest and for shareholders to reinvest in new projects.

“The more risk you take, the more return you need. Depending on how the government solves this problem and how much risk they want investors to take determines how cost-effective it will be. The UK treasury has so many difficult decisions to make, but the pace of change is going to be driven by affordability,” Farr finishes.

Tel: 01482 895500 getintouch@tritonpower.co.uk www.tritonpower.co.uk

PA S S

Toly Group aims to be the most creative force in pack Andy Gatesy, CEO and Chairman, tells us about the com secret for securing longevity and his vision for the

Writer: Ed Budds | Project Manager: Nich

PAC

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S I O N AT E ABOUT C K AG I N G

kaging. mpany’s e future

holas Kernan

TOLY GROUP MANUFACTURING

E

very great company and giant industry behemoth must start somewhere. Furthermore, it is often the most unassuming, humble beginnings that are the most important and ultimately most successful.

An iconic and established titan of the vast beauty industry, Toly Group (Toly) has led with quality, innovation, and family at heart for over half a century.

Rewind the clocks to 1956, and the company’s destiny was kickstarted into action as Dr Zoli Gatesy left Hungary, his country of birth, and set his sights firmly on a brand-new life in the UK. Having honed his trade as a toolmaker, Zoli’s natural entrepreneurialism enabled him to establish a toolmaking and injection moulding business over the course of the next decade.

While subsequently searching for suitable manufacturing locations, he turned his attention to Malta, where he founded Toly Products in 1971, forming the initial humble foundations of an internationally spanning business that continues to thrive to this day.

“Over the past few years, we have expanded our reach across the world and have diversified our product base to include all types of make-up, skincare, fragrance, and promotional packaging. These products are either produced in our own factories Andy Gatesy, CEO

TOLY GROUP MANUFACTURING

or through our global network of trading partners,” opens Andy Gatesy, Chairman and CEO of Toly.

The company’s strength lies in its unmovable family core, which has remained unchanged since day one and has continued to grow since the transition of leadership to Gatesy in 1991 – a position that he remains in today.

“We now draw upon more than 50 years of experience and success in Malta, which is a really proud achievement for the company,” he announces.

“Our heritage stems from the production of compacts for products like face powders, blushers, and eyeshadows; that’s how it started. All

TOLY GROUP CORE VALUES PEOPLE • Toly prides itself on being a people-centric company with a strong family spirit.

PASSION • Remain passionate about work, people, and packaging.

PRIDE • Toly has an enormous sense of ambition and pride in seeing its people grow, the entire company develop, and its products being used by the world’s leading brands.

CREATIVITY • Innovation is in Toly’s DNA. Aiming to be the most creative company in packaging, Toly’s products are either produced in its own factories or through its global network or trading partners.

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“ G E N E R A L LY, I N T O U G H T I M E S O R D U R I N G A GLOBAL RECESSION, THE BEAUTY INDUSTRY CO N T I N U E S TO D O W E L L B E C AU S E P E O P L E WA N T T O H AV E T H E I R O W N P E R S O N A L SENSE OF INDULGENCE” – A N D Y G AT E S Y, C H A I R M A N A N D C E O , T O LY G R O U P

these years later, we are able to offer packaging solutions across the whole make-up category as well as those classic products we started with.”

Through a carefully curated and wide network of partners, Toly now offers complementary technologies in the beauty space, such as custom fragrance caps and skincare packs, and has built its business serving the largest legacy brands across the industry.

Now an established international household name, Toly offers a vast

range of solutions and services that cater to the needs of any cosmetic company, big or small, in the packaging industry. These services include the departments of Toly Research, Toly Design Studio, Toly Manufacturing, and a full-service solution designated exclusively to speed-to-market. The amalgamation of these services and core values results in the unique Toly experience that the company endeavours to provide.

ENSURING SUSTAINABILITY AND CREATIVITY Today, Toly produces all its standard and customer-made products in Malta using post-consumer recycled (PCR) materials.

“We source our raw materials from a supplier in the UK, which has all the regulatory documents available,” Gatesy affirms.

The benefits of PCR include a guarantee of consistent quality, whilst also being lacquerable and printable, with a consistent and secure supply. Elsewhere, Toly’s cardboard supplier is committed to sustainable manufacturing and strives to use the world’s limited resources wisely at all times. This includes using steamgenerated boilers that run on natural gas and soy oil-based processing inks for printing.

“Here at Toly, we have great respect for the environment and as part of our strategy, our designers generate a lot of refillable concept designs,” he adds.

TOLY GROUP MANUFACTURING

Toly has also recently launched a new internal venture with a focus on creating innovative care and make-up applicators for the eyes, lips, and face.

The company’s marketing research, in-house make-up artists, and design and innovation teams are all working together to deliver exciting new patented applicators that not only bring differentiation to Toly’s beauty brands, but also provide great results to consumers.

“We have created alliances and partnerships with complementary manufacturers in the fields of silicon, flocking, brushes, and much more, to continuously expand our know-how and creativity while opening up an infinite array of possibilities in the applicator field.”

When a beauty brand needs an exciting applicator for its amazing new product, Toly is the ideal first port of call.

EXECUTING AMBITION Last year, Toly unveiled a bold and pioneering goal that subsequently sparked both excitement and enthusiasm amongst its employees.

“ U N L I K E M A N Y O F O U R CO M P E T I TO R S , W H O A R E O W N E D B Y P R I VAT E E Q U I T Y C O M P A N I E S O R F U N D S , T O LY H A S A D I S T I N C T I V E V I S I O N A N D R E L AT I O N S H I P W I T H I T S C U S T O M E R S ” – A N D Y G AT E S Y, C H A I R M A N A N D C E O , T O LY G R O U P

The primary objective of this new initiative is simple, yet ambitious: align all individuals within the Toly family, and do the best to create customers for life.

“At Toly, we firmly believe that every employee, regardless of their role or position, can comprehend the profound significance of our crazy goal. The idea of giving our best every single day, in every aspect of our work, is a shared commitment that transcends hierarchical boundaries,” confirms Gatesy.

As a privately owned company driven by a long-term vision, Toly’s goal is not just to gain customers, but to establish lifelong relationships built on trust, quality, and reliability.

Gatesy hopes that the enduring

legacy of Toly is that when someone visits the company’s corporate offices in Malta and sees the historical wall adorned with a timeline of products supplied for decades to well-known brands, it becomes evident that the company has a truly iconic legacy worth preserving.

Toly’s ability to supply renowned brands for 50 years showcases the enduring trust that its customers have placed in it. The company’s goal is to continue supporting these valued customers and join them on their journey of growth, with the aim of still supplying them for the next half a century.

“Unlike many of our competitors, who are owned by private equity companies or funds, Toly has a

TOLY GROUP MANUFACTURING

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EME Outlook Issue 55 | 69

TOLY GROUP MANUFACTURING

distinctive vision and relationship with its customers. We stand firm in our commitment to sustainability and generational continuity,” he shares.

The objective now is not only to remain a thriving business, passed down from one generation to another, but equally to ensure the continued satisfaction and loyalty of Toly’s customers.

NEXT STEPS FOR SUCCESS The overriding vision of Toly is to create a truly global beauty product development platform.

Gatesy tells us how he often observes and compares his business to those outside of Toly’s industry, such as Uber.

Uber was started as a platform and is now the largest

70 | EME Outlook Issue 55

taxi company in the world, but it doesn’t actually own a single taxi.

Instead, it connects a taxi driver to somebody who wants a ride through the Uber app.

“I want Toly to be the Uber of the cosmetics industry, not by existing as an app on your phone, but as a service for connecting the world’s leading and most innovative brands to our global manufacturing capabilities, products, partnerships, and services,” he tells us enthusiastically.

Impressively, Toly has become a global organisation with manufacturing plants around the world and is now working with 23 of the top 30 global beauty brands from its headquarters in Malta.

Furthermore, Gatesy believes that the beauty industry is a resilient sector, as Toly is one of the few companies that has experienced meaningful growth in the last 12 months.

“Generally, in tough times or during

a global recession, the beauty industry continues to do well because people want to have their own personal sense of indulgence,” he explains.

“There is also the lipstick factor, where people don’t have much money to spare so they’ll buy lipstick to look and feel good, instead of buying a new car, new home, or something more extravagant,” he explains.

Last year, the word permacrisis was named the Collins Dictionary’s word of the year, defined as a long period of great difficulty, confusion, or suffering that seems to have no end.

Gatesy acknowledges that Europe, and more broadly, the entire world, seems to have been trapped in a

permacrisis over the last few years that has stretched beyond the COVID19 pandemic and further encapsulates climate change, financial turmoil, and the war in Ukraine.

“As a CEO running a business, you seem to go through a crisis every three to five years, but not every three to five months. The cycle is getting faster; whether it’s a ship running aground in the Suez Canal

and disrupting supply chains, the rising cost of capital, the price of raw materials, recession, or climate change, there’s always another crisis around the corner. Everywhere you look, there’s a new challenge that you need to steer the company through.”

Equally, as Charles Darwin once said, “it’s not the strongest of the species that survives, or even the most intelligent. Instead, it’s the

one most adaptable to change” – a valuable philosophy that has been embraced by Toly. “I’ve been running this business for 30 years and been through many crises, and each time we survived, reinvented ourselves, transformed, adapted to change, and came out stronger. We will continue to do this, and that is the most important factor towards maintaining success,” Gatesy concludes.

TOLY GROUP Tel: +356 21693520 www.toly.com EME Outlook Issue 55 | 71

R A D I AT I N G SUCCESS We speak to Marco Rossi, CEO of IRSAP S.p.a., about how combining design with smart and sustainable heating systems is driving the company forward Writer: Rachel Carr | Project Manager: Nicholas Kernan

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IRSAP S.P.A. MANUFACTURING

F

ounded in 1963, the Italian company IRSAP S.p.a.

(IRSAP) specialises in designing and manufacturing heating systems and has gained recognition for its innovative and energy-efficient solutions in the heating, ventilation, and air conditioning (HVAC) industry.

As a leading manufacturer of designer radiators and towel rails, the family-run business began with the CEO’s great-grandfather, who implemented many industry firsts.

“For example, we were the first to introduce the towel rail. Consequently, it has functions apart from heating, which is hanging towels, of course,” introduces Marco Rossi, CEO of IRSAP. After a career in consulting in Mumbai and then Milan for almost three years, Rossi joined IRSAP, which cultivated his interest in this innovative industry.

“It is an exciting sector to work in as it incorporates other industries, such as energy consumption and building efficiency. Heating is a big chunk of what we consume and produce, so we must rethink our products and how the radiator can help the transition to green energy in the future,” Rossi concedes.

EME Outlook Issue 55 | 73

IRSAP strongly emphasises eco-efficiency and sustainability, with many of its products designed to optimise heating and cooling performance, while minimising energy consumption and helping customers reduce their carbon footprint.

“We can introduce innovation because the customer relationship and how we connect with clients is changing. We now receive more requests from end users interested in the product’s fancy designs, colours, shapes, functionality, and sustainability.

“For example, plumbers will direct their customers to us as they are not seeking assistance in the technical field, which is an immense source of information and the first time we receive feedback. It is conducive to developing smart home products, as we now interact with the customer on how the products are used and their habits,” Rossi enlightens us.

FUNCTIONAL DESIGNS Known for its commitment to design as well as industry-leading services and products, IRSAP has worked with universities across Milan to create bespoke pieces. The company also collaborates with renowned designers to create aesthetically pleasing and functional products that blend seamlessly into various architectural styles.

“We opened the doors to design students in 2006, and Milan University was a major contributor. We gathered a lot of ideas from interior design architects; the brief at the time was that we didn’t need a product that looked like a radiator, and they succeeded,” Rossi recalls.

The end result was instrumental in increasing the brand’s value and the perception of the company’s branch of architecture. Furthermore, the products challenged IRSAP’s technical office and R&D team to

develop new materials and a new way to build radiators.

The resulting products were made from marble or stone, in a shape that could only be created by hand, which was the company’s first approach to serious design.

“We always combine design with science and wanted to get insight from the outside. For instance, our recent smart heating system was designed together with the European Institute of Design in Rome,” he states.

The students were challenged to design an innovative heating system, with the winner having a prototype made and displayed at IRSAP’s stand at Salone del Mobile, the most important design exhibition for furniture in Italy and among the most prominent in Europe. Several of the designs were developed with Desall, an open innovation platform with a European-wide community of architects.

“You give a brief and then you set an award for the winner. We received an incredible number of proposals, so it was difficult to choose. We understood that climate solutions had to fit in with smart applications, and that affected the design aspect of it all,” Rossi explains.

A CUTTING-EDGE COMPANY With a global presence, IRSAP manufactures a wide range of products characterised by design, energy efficiency, and a commitment to sustainability for residential, commercial, and industrial settings,

“ H E AT I N G I S A B I G C H U N K O F W H AT W E CONSUME AND PRODUCE, SO WE MUST RETHINK OUR PRODUCTS AND HOW THE R A D I AT O R C A N H E L P T H E T R A N S I T I O N T O GREEN ENERGY IN THE FUTURE” – M A R C O R O S S I , C E O , I R S A P S . P. A .

Marco Rossi (right)

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IRSAP S.P.A. MANUFACTURING

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EME Outlook Issue 55 | 75

IRSAP S.P.A. MANUFACTURING

contributing to comfortable and environmentally responsible living and working spaces.

Products include radiators, towel warmers, fan coils, convectors, and other heating and cooling solutions, and the company invests in R&D to stay at the forefront of HVAC technology and provide customers with cutting-edge solutions.

Moreover, IRSAP was also the first company to introduce tubular and coloured radiators to Italy.

“The next challenge is understanding how the radiator can contribute to reducing home emissions. The primary issue is the boiler or heat pump, but there are two ways in which service offerings can be improved. The first is smart devices, which can be very precise in managing the temperature at the right time in the right room – regulating the system means managing the pressure and the power of the boiler,” Rossi details.

“The second step is having products which operate better at a low temperature so the heat pumps can work at its best. Even if a boiler works at 50 or 70°C, the heat pump functions better at 30 to 40°C. Usually, radiators can work at this temperature if they are the correct dimensions, which can result in a

76 | EME Outlook Issue 55

CELEB RATING 60 YEARS OF INNOVATION IRSAP marked its 60th anniversary across 10 events, with invitations extended to the families of those involved in the celebrations.

Considering the future and the next 60 years, IRSAP intends to go in the direction of selling services connected to its products.

“We want to rethink our whole process, the customer journey, and the services associated with our products. With the smart home, for example, there are many potential upgrades, so within two to three years, our products could have improved functions,” shares Rossi.

Research has shown that the end-user will connect with the product when it is easier to manage and operate. Customer habits vary, which drove IRSAP to implement products with built-in connectivity, but not necessarily when they were sold.

“We can sell connectivity to whoever wants it, and the end user can unlock it from their home.”

IRSAP already offers a degree of customisation, allowing users to select from various finishes, sizes, and configurations to meet their specific needs and preferences.

“We need to make the product easy to install, as the plumber has the power to change the mind of the end user and architect because they have the final word on what can be installed.”

In the past 60 years, IRSAP has achieved many accomplishments, from solar panels in the early 1980s to air conditioning between the 1990s and 2017. It also acquired a company in the early 2000s focused on the design aspect of radiators, with architects and external designers onboarded from 2006. It was in 2013 that the company then diversified into domestic air treatment, which changes and refreshes the air in the house.

larger product. Alternatively, the answer for smaller radiators is to add ventilation.”

IRSAP has launched a smart system composed of smart valves for radiators and connected thermostats to control boilers or heat pumps, allowing the end user to set different temperatures in different rooms at different times by regulating water flow within the radiator and the heat generator accordingly.

It has also expanded the smart home system to include mechanical ventilation, the type of innovation that has preserved the company as one of Italy’s leading designer radiator manufacturers.

STRATEGIC COMMUNICATION Connecting IRSAP’s three product families – radiators, smart homes, and mechanical ventilation – are new communication protocols that will unlock a significant opportunity for the company.

These protocols will connect

products to the ecosystems and apps of larger companies, such as Apple, Amazon, and Google, enabling products to talk to each other.

The products can automatically heat rooms faster without continuously exchanging data with IRSAP. Examples include the mechanical ventilation of air through electric radiators if the cost of electricity is lower than gas, the boiler if the use of gas is more efficient, or a combination of the two if the temperature gap is too high.

“If I want the house to be 22°C but it’s at 10°C, every system will be pushed to bring comfort to the home, as the new protocols will allow us to connect everything. Therefore, technically, in the future, you could turn your mechanical ventilation system on and off, or use your heating system via your Samsung television,” highlights Rossi.

Although the integration of these protocols is a huge change and creates an unpredictable future for

IRSAP, Rossi believes it will add more value to its products as the protocols indicate a significant stream of investment to diversify smart systems and connect all products, whether it is hydronic radiators, electric radiators, or mechanical ventilation.

For the first time, IRSAP has launched a five-year strategic plan to drive the succession of the company from father to son. The target is to double IRSAP’s revenue in the next five years, pushing the core of the business by significantly investing in connectivity, particularly mechanical ventilation – a major future trend in the HVAC industry.

“We set six pillars. Firstly, we want to see growth in markets such as the US that we are not currently present in. Additionally, we need to work on our efficiency, not only in production but also in the digitalisation of office processes.

“Design and innovation are also important, so we need to invest in sustainability and secure our workforce by creating a safe environment in which our talent can grow and develop. The final pillar is customer centricity, which dictates having a satisfied consumer,” Rossi concludes.

IRSAP S.P.A. Tel: +39 0425 0466611 info@irsap.com www.irsap.com EME Outlook Issue 55 | 77

MAKSTIL | WESTERN BAINOONA GROUP

CHINA MOBILE INTERNATIONAL (SINGAPORE) PTE LTD

IPT POWERTECH GROUP / SIPH

P R I M E T E C H N O LO G I C A L S E RV I C E S

V I T R I N I T E

F E N N E R

C O N V E Y O R S

AU C K L A N D

E Y E

W E L L I N G TO N

F R E E

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BOWEN COKING COAL

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PORT OF NEW BEDFORD

LOGAN WATER Pioneering water and wastewater services

TVI RESOURCE DEVELOPMENT PHILIPPINES INC.

Welcoming exciting new ventures and conserving traditional industries

Spearheading the Filipino resources sector

TURNER CONSTRUCTION Transforming the lives of customers and employees

NORTEK GLOBAL HVAC Accessible heating and cooling for all

PARABELLUM INTERNATIONAL

ONECARE MEDICAL

Issue 19

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A M B U L A N C E

Emergency response and medical services to the resources, defence and government sectors

Advancing Australian mining

The convenient choice for primary healthcare services in Singapore

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www.mining-outlook.com • Issue 3

NDALAMO RESOURCES Investment opportunities in South African mining

DAIRY GROUP SOUTH AFRICA Aligning with farmers and partners

KESTREL COAL RESOURCES

VIRUNGA ENERGIES

Hydroelectricity illuminates opportunities

RESTAURANT COMPANY EUROPE

CR3 GROUP

The fresh face of energy engineering solutions in Asia

With more than 75 restaurant and café locations, we pull up a table at the largest catering group in the Netherlands

THE FUTURE OF EMPOWERED BANKING

The value-driven mining company envisioning a future for responsible resources

GROOTE SCHUUR HOSPITAL

Strengthening the healthcare system and developing a renewed strategy to meet the needs of patients

Peter Dijkstra, CCO of Trymax Semiconductor Equipment B.V., unpacks manufacturing the most advanced equipment in the industry

Shane Hansen, CEO of Kestrel Coal Resources explores a future for responsible mining led by a value-driven company

Ruwacon has positioned itself at the helm of the African construction industry. Commercial Director, Reeza Seedat tells us more

The Concert Stuff Group is the company of choice for live events solutions. Co-Founder and CEO, Jim Brammer tells us more

Speaking to Chief Executive of QRC, Ian Macfarlane, we learn about the association’s tenacious efforts towards achieving net zero by 2050

PIERLUIGI PARACCHI, Executive Committee Member at Federchimica Assobiotec, discusses leading the industry to a sustainable and safer society

manufacturing the most advanced equipment in the industry Peter Dijkstra, CCO of Trymax Semiconductor Equipment B.V., unpacks

future for responsible mining led by a value-driven company Shane Hansen, CEO of Kestrel Coal Resources explores a

industry. Commercial Director, Reeza Seedat tells us more Ruwacon has positioned itself at the helm of the African construction

solutions. Co-Founder and CEO, Jim Brammer tells us more The Concert Stuff Group is the company of choice for live events

the association’s tenacious efforts towards achieving net zero by 2050 Speaking to Chief Executive of QRC, Ian Macfarlane, we learn about

Assobiotec, discusses leading the industry to a sustainable and safer society PIERLUIGI PARACCHI, Executive Committee Member at Federchimica

BANKING OF EMPOWERED THE FUTURE

engineering solutions in Asia The fresh face of energy

COMPANY EUROPE RESTAURANT

a table at the largest catering group in the Netherlands With more than 75 restaurant and café locations, we pull up

CR3 GROUP

a renewed strategy to meet the needs of patients Strengthening the healthcare system and developing

for responsible resources company envisioning a future The value-driven mining

RESOURCES COAL KESTREL

opportunities illuminates Hydroelectricity

Tell us your story, and we’ll tell the world ENERGIES VIRUNGA

HOSPITAL GROOTE SCHUUR

and partners Aligning with farmers

SOUTH AFRICA DAIRY GROUP

and cooling for all Accessible heating

Filipino resources sector Spearheading the

and conserving traditional industries Welcoming exciting new ventures

PHILIPPINES INC. DEVELOPMENT TVI RESOURCE

NEW BEDFORD PORT OF

wastewater services Pioneering water and

LOGAN WATER

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GLOBAL HVAC NORTEK employees of customers and Transforming the lives

CONSTRUCTION TURNER

mining in South African opportunities Investment

RESOURCES NDALAMO

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in Singapore primary healthcare services The convenient choice for

ONECARE MEDICAL

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mining Australian Advancing

government sectors resources, defence and medical services to the Emergency response and

COAL COKING BOWEN

MAKSTIL | WESTERN BAINOONA GROUP

CHINA MOBILE INTERNATIONAL (SINGAPORE) PTE LTD

IPT POWERTECH GROUP / SIPH

P R I M E T E C H N O LO G I C A L S E RV I C E S

V I T R I N I T E

F E N N E R

C O N V E Y O R S

Issue 2

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W E L L I N G TO N

EME Outlook, Africa Outlook, APAC Outlook, North America Outlook, Mining Outlook and Healthcare Outlook are digital publications aimed at boardroom and hands-on decision-makers, reaching an audience of more than 800,000 people around the world; spanning the full range of industrial sectors.

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P E R P E T UA L STEEL There are few materials as reusable as steel. We speak to Radek Strouhal, CEO of Vítkovice Steel, about the company’s commitment to quality metal production and the wider community in the Czech Republic Writer: Ed Budds | Project Manager: Nicholas Kernan

VÍTKOVICE STEEL MANUFACTURING

S

teel is a unique alloy. A compound of iron combined with carbon and additional minerals, it is highly versatile as a material for construction, manufacturing and a multitude of other industries.

Historically, steel has been a defining discovery for civilisations, as both expensive to produce and made only in limited quantities. Steel was therefore saved as a luxury commodity, forged to form durable tools for specialist trades or blades for banquets and battlefields.

Today, steel cutlery is no longer reserved for lords and ladies of the court but is found as a staple of every house in Europe thanks to modern means of mass metal production.

What makes steel truly special is its unlimited service life and status as the most recyclable material in the world.

Based in the Czech Republic, the promotion of steel production and reuse to help turn the globe green is exactly what Vítkovice Steel (Vítkovice) sets out to achieve.

“Throughout our whole lives we are surrounded by products which are vital for our civilisation because their properties and use are simply irreplaceable,” introduces Radek Strouhal, CEO of the company. “Such are the products that Vítkovice has been producing since the 19th century.”

Vítkovice is a leading European manufacturer of heavy plates and one of the last producers of sheet piles. Its main products are used in a wide range of industries, including construction, energy, transportation, and engineering. Vítkovice transforms steel into heavy plates, shaped cutouts and sheet pilings, which are in turn used as parts of major bridges, various buildings and high-performance machines.

With two mills in the northeast city of Ostrava and employing around 850 people, Vítkovice’s mission is to provide its customers with high-quality steel products and services that meet needs and exceed expectations.

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VÍTKOVICE STEEL MANUFACTURING

This industry-leading position is born from an extensive history in steel production. Vítkovice began in 1828 in Ostrava and continues to this day as a traditional, prominent manufacturer of hot-rolled heavy plates, sheet piles and cut shapes in Europe. Since its establishment, the company’s mission has always been to help build the country.

Radek Strouhal, CEO, Vítkovice Steel

“The traditions and achievements of our predecessors commit us at Vítkovice to provide quality work and services for our customers,” Strouhal tells us proudly. “We connect society with quality products. For example, our heavy plates make bridges which are a focus area for us.

“Sheet piles are used for steel and bridge structures or as structures for water management and flood

DID YOU KNOW...?

Steel has a deep and rich history. Its qualities have been discovered and exploited across the globe with the oldest recordings of steel production and use being those of Anatolia (most of present-day Turkey) in approximately 1800 BCE, as well as mass steel production in China during the 3rd century CE. This global acknowledgement of steel has also led to unique workings, methods and processes when it comes to producing, shaping and strengthening the material.

There are multiple historical examples of the Bessemer Process having been used, which involves the use of blasts of air to remove impurities in molten steel.

When it comes to warfare, steel has been used as the most innovative metal for centuries, able to be morphed to form larger blades that retain their shape and durability in the heat of combat to a greater extent than iron. The versatility of steel gave rise to plate armour that reinvented feudal warfare. Japanese “jewel steel” was folded many times over and refined to create the iconic katana - the weapon of the Samurai – as well as the famous technique known as “Damascus Steel”, a form of pattern-welded steel. Knowledge of this particular technique was passed from the Middle East or India, eventually making its way as far as Scandinavia, where Vikings believed (and proved on the battlefield) that such pattern-welded swords were magic.

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protection. We burn our cut shapes on the most modern equipment, which is also why they are often used for machine parts where a high level of precision is required. Quality control of products is carried out in our own accredited testing laboratories, which are equipped with the most advanced testing facilities.”

CARBON COMMITMENT The Czech Republic has a long history of producing high-quality steel products and has a well-developed infrastructure to support the industry.

The country is also strategically located in the heart of Europe, making it an ideal destination for exporting products to customers in the region and beyond. For Strouhal, the metal manufacturing industry has always been intriguing.

“I became interested in the steel industry after graduating from college with a degree in economics,” he shares. “I began working for a steel, iron and ferroalloy trading company where I quickly became CFO. After a few years I moved to help to save Tatra, the heavy vehicle manufacturer, firstly as CFO and later as CEO. After five years I got the opportunity to come to Vítkovice as CFO and now, as the CEO of a heavy plate mill, I am proud to lead a dynamic and innovative company in this exciting industry.”

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VÍTKOVICE STEEL MANUFACTURING

Vítkovice is constantly exploring opportunities for increasing the quality of its services, decreasing the negative impact on the environment and delivering higher value to its customers. Despite this, the company has no plans to enter new markets, but instead focuses on utilising its proximity to customers and high product range to cover all client needs with swift delivery and the highest quality.

Primarily focusing on in-house development, Vítkovice has undertaken internal upgrades such as the renewing of its lighting systems across all facilities. It is one of many actions taken by the company’s internal environmental, social and governance (ESG) team which is dedicated to improving Vítkovice’s profile in the environmental and social field.

“We recently upgraded the lighting systems across all our company facilities as part of our commitment to sustainability and reducing our environmental impact,” Strouhal says. “The new LED lighting systems are more energy-efficient and have a longer lifespan than traditional lighting, reducing our energy consumption and maintenance costs while also improving the working conditions for our employees.

“Vítkovice is also committed to sustainability and reducing its environmental impact. We are constantly exploring new ways to improve our operations, reduce our carbon footprint, and increase our value for society. We are proud to be a leader in the steel industry in this regard.”

FORGING A COMMUNITY FOUNDATION Moving ahead into 2023 and beyond, Vítkovice’s key priorities for the coming year are to continue to improve its production capabilities and increase its efficiency and productivity. On top of this, the

Exterior of the Ostrava plant

“ T H E C I T Y O F O S T R AVA I S N O T O N LY T H E P L AC E W H E R E W E WO R K , B U T A L S O W H E R E WE LIVE, AND WE HELP THE PEOPLE AROUND US” – R A D E K ST R O U H A L , C E O, V Í T KOV I C E ST E E L

company is also focusing on developing new products and services that meet the changing needs of its customers as well as expanding its presence in key markets.

“We simply focus on keeping up the pace with our customers and their needs so they can fully rely on us and our products,” Strouhal comments.

While productivity is core to the company’s focus, there is a greater aspect of the operation that Vítkovice is passionate about – people and the community sit at its heart and are the forethoughts of the business.

Vítkovice keeps track of social, cultural and sporting events and is actively involved wherever needed, with employees engaged in fulfilling social responsibilities. The company’s Vítkovice Steel Foundation Fund also

helps those with social or medical needs.

“The city of Ostrava is not only the place where we work, but also where we live, and we help the people around us,” Strouhal elaborates. “We are not indifferent to what goes on in our surroundings. We care about the environment, we believe that it is important to give back to the communities where we operate, and we are committed to supporting disabled or seriously ill people in our area. Our company set up its foundation many years ago and through it, we do our best to support people to better their lives.”

Tel: +420 595 696 077 www.vitkovicesteel.com EME Outlook Issue 55 | 85

A N E W DAW N FOR DISCOUNT SHOPPING As the company transitions into new leadership, we talk to Michael Tilsted, new Managing Director, and Thomas Nielsen, former Managing Director, about how 365discount unreservedly commits to supplying affordable but nutritious produce to its customers Writer: Lucy Pilgrim | Project Manager: Marvin Iseghehi

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365DISCOUNT FOOD & BEVERAGE

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365DISCOUNT FOOD & BEVERAGE

H

ome to cost-effective and delicious food and drink, 365discount is a national chain of discount stores spanning across Denmark, with no sign of stopping.

With the company embarking on a new journey, Managing Director Micheal Tilsted takes over the helm from Thomas Nielsen, who is withdrawing to become Chain Director in the Løvbjerg supermarket chain.

As Nielsen takes a step back after five years at 365discount, he reflects on his decade-long career in the retail industry.

“I have been working in the food and beverage sector since I was 15 years old. After I finished my studies, I took a two-year management trainee course with a business that was once known as Dansk Supermarket (now Salling Group). As a result, I worked for almost 13 years in various

EME OUTLOOK: WHAT, FOR YOU, DIFFERENTIATES 365DISCOUNT FROM THE COMPETITION? Michael Tilsted, Managing Director: “We are taking a challenger position and working hard to communicate in a modern way with our customers. We also want to make the ‘greener’ choices in our stores more widely available to customers, such as the ‘Save the VAT’ campaign on all fruit and veg held last autumn, which was in accordance with the dialogue we entered with politicians.”

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positions at Dansk Supermarket in both Denmark and Sweden, followed by six years with Dagrofa, and finally five years with Coop, owners of 365discount,” he recalls.

Throughout his time as Managing Director, Nielsen was instrumental in transforming and solidifying 365discount’s reputation as the most affordable and customer-friendly discount store, as he oversaw the fastest rollout in Denmark of a brandnew discount food chain towards the end of 2022, with an impressive 260

new stores in just four months.

However, Nielsen is ready to pass on the baton to Tilsted, who has been in the retail industry for over 10 years, overseeing projects in senior positions across Denmark, Germany, Sweden, and Poland. After five years working for discount supermarket chain, Netto, Tilsted became Head of Commercial Excellence at Coop Denmark in June 2023 before becoming Managing Director of 365discount, a part of Coop Denmark, only three months later.

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EME Outlook Issue 55 | 89

365DISCOUNT FOOD & BEVERAGE

“The high-paced culture and the competitive landscape is just too much fun to work in to change to another industry,” Tilsted tells us.

GROWTH IN PRODUCTS AND EFFICIENCY As 365discount embarks on a new journey, resilience and efficiency are what have characterised the company as it comes to celebrate its third anniversary.

According to both Tilsted and Nielsen, the company’s resounding success in such a short amount of time is due to an ambition that is seldom seen elsewhere in the Danish food and beverage industry.

“We have been able to become one of the most successful chains thanks to ambition, good energy, teamwork, a ‘can do’ attitude, and of course, a lot of work from the skilled and committed 365discount team,” Tilsted comments.

As the newly appointed Managing Director, Tilsted also firmly believes in the hard work and innovation of the company.

“We are successful due to our bold ambition to be the “greenest” and fastest-growing discount food chain in Denmark, with a minimum of 10 percent like-for-like (LFL) growth,” he explains.

Tilsted hopes to continue 365discount’s tenacity, as it faces tough competition. However, he hopes to drive the company to be just as competitive as the best players in the market.

“We believe that 365discount has the potential to do more, and that we will be able to provide even better products to our customers through our very strong own label products that all hold quality and safety requirements,” affirms Tilsted.

In order to meet the aims required to strengthen the company’s

industry-wide position, 365discount is currently working on two specific projects.

Firstly, the company wishes to conduct a complete review of its assortment to ensure that all its products are optimally discounted, translating to the right quality at the right volume and in the right place.

The second project is a complete operational review of both its stores and central organisation, through a complete redesign of several test locations to ensure each store has the right formula for change.

“When operating a discount chain, you really need to ensure you make the best use of your time, workforce, and resources, so we need to have a clear plan for this,” Tilsted states.

DOING MORE FOR CUSTOMERS Alongside the guarantee of an efficient and optimum shopping experience for its customers,

365discount has also transformed into a comprehensive sector representative, engaging in discussions with the Danish government around the removal of VAT on fruit and vegetables in the hope of encouraging people to purchase more produce.

Tilsted believes this will significantly

365DISCOUNT FACTS AND FIGURES: • Over 360 stores • An assortment of 3,000 stockkeeping units (SKUs) of primarily local food • Target market of 18 to 39-year-olds • Over 9,000 dedicated employees

benefit society as a whole, as it encourages local growth, supports more climate-friendly shopping behaviour, and drives more healthy eating habits for the customers.

The notion of promoting the purchase of healthy products is a profound focus of 365discount, as in recent years it has opposed the use of harmful chemicals in produce, something that Tilsted is passionate about continuing.

As well as supporting numerous non-governmental organisations (NGOs) such as Hjerteforeningen, the company is also committed to reducing its food wastage through the improvement of its operations, selling leftover food through the mobile application Too Good To Go, and donating surplus food to local charities.

Elsewhere, the 365discount team is at the heart of the organisation and the forefront of the company’s

success, heralded by its hard work and consistent dedication.

“We try to empower our staff by showing them respect, being transparent and honest in our communication, and helping them in their everyday life. As such, we really try to make our operations simpler and easier to remove any pain points, regardless of size,” encourages Tilsted.

As the company settles into the new transition, its number one priority and core business focus is to upgrade its current stores.

“Our ambition is to double sales in our stores towards 2030 and to break even on earnings by 2025,” concludes Tilsted.

365DISCOUNT www.coop365.coop.dk EME Outlook Issue 55 | 91

DELIVERING DELICIOUSNESS TO T H E M I D D L E E A S T

Tim Hortons is internationally recognised for its hearty coffee and classic Canadian cosiness.

As the iconic barista branches out, CEO Hesham Almekkawi tells us how Tim Hortons Middle East is establishing its presence amongst the Gulf Cooperation Council Writer: Lucy Pilgrim | Project Manager: Liam Pye

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TIM HORTONS MIDDLE EAST FOOD & BEVERAGE

F

or nearly 60 years, Tim Hortons has been serving millions of customers with warm drinks and delightful baked goods, amongst other tantalising bites to eat.

During this time, the food and beverage icon has become known for its premium quality ingredients and serving its customers with a smile, a simple strategy that has elevated the business to global levels.

Best-known for its rich, aromatic flavours, coffee lovers all over the world have enjoyed Tim Hortons classics

such as the Original Blend and the signature Iced Capp®, accompanied by a variety of inspired doughnuts including the ever-popular Timbits®.

“Our vision is to be the café of choice,” introduces CEO of Tim Hortons Middle East, Hesham Almekkawi.

“We may not have the largest number of outlets, nor exist on every corner, but we do have fresh food, quality coffee, and a cosy ambience that provides experiential moments.”

EME Outlook Issue 55 | 93

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“WE ARE PLANNING ON OPENING MORE THAN 200 NEW BRANCHES IN KSA BY 2024, AS WE ARE CONFIDENT IN ITS VISION 2030 BLUEPRINT” – H E S H A M A L M E K K AW I , C E O , T I M H O R T O N S M I D D L E E A S T

TIM HORTONS – TIMELINE OF EVENTS • 1964 – Tim Horton, a Canadian hockey legend, opened the first store in Hamilton, Ontario, Canada • 1976 – The iconic Timbits® confection is introduced • 1999 – Iced Capp® is launched, marking a huge success • 2000 – 2,000th Tim Hortons location opens in downtown Toronto

The perfect café atmosphere is guaranteed by the company’s use of superior quality products, unmatched customer service, and caring for the communities it provides for, through leadership, innovation, and strong partnerships.

“Our restaurant chain is known for its freshly brewed coffee and baked goods, aptly demonstrated by the tag line: “Always Fresh, Always Delicious”, which rightly reflects the brand policy,” Almekkawi adds.

International adoration for Tim Hortons Middle East further stems from its intricate attention to detail, with comfortable seating and optimum light levels across each 96 | EME Outlook Issue 55

restaurant. Therefore, it is always prepared to give its customers the best possible café experience.

A MIDDLE EASTERN BLEND In 2011, the renowned Canadian brand made its way to the Middle East, opening its first café and baked goods shop in Dubai. Ten years later, Tim Hortons lovers can now enjoy the famous premium coffee, confectionary, and made to order sandwiches at food locations throughout the United Arab Emirates (UAE), the Kingdom of Saudi Arabia (KSA), Qatar, Oman, Bahrain, and soon in Kuwait, Egypt, and India.

• 2004 – The brand’s well-loved Double Double® beverage is added to the Canadian Oxford Dictionary • 2011 – The first Tim Hortons café opens in the Middle East • 2017 – Tim Hortons arrives in the UK

/ www.bridor.com /

TIM HORTONS MIDDLE EAST FOOD & BEVERAGE

Due to an emerging reputation as a flourishing food and beverage market, the Gulf Cooperation Council (GCC) has created a prosperous atmosphere for entrepreneurs and like-minded businesspeople to continue to invest in the region.

“The GCC constituted an attractive environment for Tim Hortons to provide developed 98 | EME Outlook Issue 55

infrastructure and a business incentive that helped the chain thrive across the country and worldwide,” Almekkawi recalls.

KSA and the UAE in particular have brought a major economic drive to the Middle East. In order to grasp this opportunity, Tim Hortons plans to expand its presence in both countries to 500 locations by 2025, taking

advantage of the region’s largest two economies and growth markets.

“We plan on opening more than 200 new branches in KSA by 2024, as we are confident in its Vision 2030 blueprint; thus, we are keen to benefit from the country’s growth prospects and the progressive strategies of its wise leadership,” Almekkawi details.

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TIM HORTONS MIDDLE EAST FOOD & BEVERAGE

THE COMMUNITY’S COFFEE With this expansion, Tim Hortons Middle East wishes to spread the welcoming nature of the company across the local community, to facilitate connections and become an active part of each neighbourhood.

“Our expansion further solidifies the mission of offering customers comfort, refreshments, and a relaxing environment. By taking advantage of the brand’s popularity, our strategic development will ensure that Tim Hortons’ iconic coffee is accessible to those all over the GCC region,” he adds.

Being a part of each community is a major focus for Tim Hortons Middle East, as it is committed to bringing people together by empowering individuals of all diverse abilities and skills.

In correlation with this focus, and the emphasis on a welcoming,

collective community, Tim Hortons Middle East has partnered with the Al Jalila Foundation in the UAE, alongside the Sanad Organisation in KSA. With both these fantastic charities, the café enterprise contributes to reducing patients’ medical bills, having a beneficial financial impact on patients, whilst also aiding in humanitarian issues.

“This collaboration comes as part of our commitment to supporting charitable and humanitarian organisations in the UAE and KSA, fulfilling the common interest of all parties,” Almekkawi tells us.

On top of this, customers of Tim Hortons Middle East can round up their bills so that any extra money goes to charity, with 100 percent of the proceeds allocated to the Al Jalila Foundation and the Sanad Organisation. Therefore, each loyal customer can feel they are doing their

bit for the local community.

“The two charity partnerships aim to fortify the means of cooperation, which are in line with the directive and mission of Tim Hortons as a brand: to mobilise community services and support societies through volunteering and joint contributions conducted by a set of charitable initiatives and activities.”

Overall, Tim Hortons Middle East is committed to improving the quality of life for its customers as well as giving back to the communities in which it operates. This is reflected by the impressive contributions already made by the restaurant chain, raising over AED130,000 (£275,260) since the beginning of 2023.

THE KEY TO SUCCESS With ambitious expansion plans on the horizon, trustworthy connections with suppliers are equally paramount

“WE ARE PLANNING ON OPENING MORE THAN 200 NEW BRANCHES IN KSA BY 2024, AS WE ARE CONFIDENT IN ITS VISION 2030 BLUEPRINT” – H E S H A M A L M E K K AW I , C E O , T I M H O R T O N S MIDDLE EAST

to Tim Hortons Middle East’s success.

By having great suppliers, the business can improve its service to its loyal customer base, as well as its productivity and elevated market presence.

“Our success is tied to our suppliers.

They provide us with what we deliver to customers, so the quality of what we receive from them is more than key,” Almekkawi affirms.

As a leading café in the Middle East and North Africa region (MENA), the

company understands how important it is to react to the demands of the market and ensure long-term success.

As a result, Tim Hortons Middle East’s main focus last year was to localise and build relationships with reliable suppliers in each market so that it could adequately adapt to a range of customer tastes. This also enabled the company to eliminate global logistical challenges, to become more flexible and innovative with local suppliers.

Additionally, through a master franchise agreement, Tim Hortons Middle East is a proud partner of the Apparel Group, a leading food and beverage entity headquartered in Dubai.

TIM HORTONS MIDDLE EAST https://timhortonsgcc.com EME Outlook Issue 55 | 101

EVENTS GO GREEN GAME

CRICKET GOES GREEN Edgbaston Stadium recently staged the first sustainable international cricket match, with England taking on New Zealand. Labelled as the Go Green Game, the first ecofriendly fixture of its kind saw a focus on cutting emissions across all scopes of the ground’s footprint Writer: Ed Budds

Edgbaston Stadium

102 | EME Outlook Issue 55

EVENTS GO GREEN GAME

PHOTO BY JIMMYGUANO - OWN WORK, CC BY-SA 3.0

S

port, like every other industry been installed across the ground. For and event, must embrace this unique occasion, 95 percent of and seek out new methods to matchday food was prepared on-site transform into a more sustainable to cut packaging waste, and the and environmentally friendly continued use of reusable e-cups has phenomenon. prevented countless single-use plastic To the oblivious observer, the third alternatives from being needlessly T20 International match between wasted. Unsuspecting spectators’ England and New Zealand, held at food was even wrapped in sustainable Birmingham’s Edgbaston stadium, packaging lined with seaweed. was just another glorious day to watch the world’s elite cricket stars, TACKLING THE EMISSIONS drink copious amounts of beer, and MISSION soak up the dying embers of the Great What made this day truly unique is British summer. that every watt of electricity used, But for Edgbaston, and for English every pint of lager poured, and every cricket, this was a first step into an cheeseburger made will eventually be exciting future of environmentally calculated into a report that rates the friendly possibilities, that is sparkling day’s carbon footprint. with sustainable potential.

Data will be collated on everything The Go Green Game, the first of its from the number of meals and drinks kind in the UK, was held on Sunday served to floodlight usage, water 3rd September, with Edgbaston’s consumption, and every spectator’s impressive 25,000-seater stadium method of transport to the stadium. running exclusively off wind, hydro, A trial for the T20 Finals Day at and solar power - something that will Edgbaston last year found that a continue for the rest of September. staggering 79 percent of the event’s Elsewhere, the four and six cards total emissions were caused by which were handed out to the fans spectator and staff travel. and have been waved by cricket As a direct response to these crowds for more than two decades findings, free shuttle buses were in the shortened format of the game organised this year and car parks at were produced with ‘seed paper’ the ground were closed. As well as which, when later planted at home, this, more volunteers were positioned will blossom into wildflowers. on walking and cycling routes to No red meat was served in the direct people to the ground, and hospitality areas during the Go Green more cycle racks were assembled Game, spectators were encouraged alongside improved signage from the to use the free water refill stations city centre. around the stadium, and the England and Wales Cricket Board’s (ECB) match programme was made from 100 percent recycled paper.

Additionally, the lawnmowers and roller used by the grounds staff to prepare the playing surface were swapped out for electric alternatives.

Edgbaston’s Improved recycling has further Operations Director reduced Edgbaston’s waste Claire Daniel talks sustainability by a third, while hundreds of low-energy LED lights have also

“We want to be known for being a sustainable venue,” Lydia Carrington, Edgbaston’s first Sustainability Manager commented.

“We want people to think that when they come here, they are making a positive impact, despite the size of the event.”

TIME FOR CHANGE The foreboding, omnipresent threat of climate change is one of sport’s uncomfortable truths.

Many detailed scientific reports into its impact on sports have found that cricket will be the hardest hit of all those using a pitch or field.

Around 40 percent of cricket grounds in England and Wales, with thousands more in the recreational and semi-professional game, are at risk of the devastating impacts of a changing climate, whether through increased droughts or flooding.

Furthermore, cricket is hardly an innocent party when it comes to its environmental footprint. England’s nearest opponents in the ICC World Test Championship, for example, are Pakistan - an eight-hour flight away.

“Cricket is one of the sports most at risk from climate change, so it’s right we’re leading the charge to change attitudes,” Edgbaston’s Operations Director, Claire Daniel explained.

“Our Go Green Game will showcase all the positive changes we’ve made to become a more sustainable venue,” she added.

The venue’s Edgbaston 4 Sustainability pledge is underpinned by a commitment to become a carbon net zero business by 2030.

Overall, the aim of the Go Green Game was not only to reduce emissions but also to raise awareness of the influence the sporting and event industry can have on sustainability and climate change, and it will hopefully act as the first stepping stone in a larger plan to achieve that goal.

EME Outlook Issue 55 | 103

EVENT FOCUS

AUTOMA 2023 27th-28th November 2023 | Vösendorf, Austria | www.automacongress.com

Unleash AI Technologies in Oil and Gas with AUTOMA 2023 TH E TO P IC of artificial intelligence (AI) in the oil and gas industry is one of the highlights of the Oil and Gas Automation and Digitalisation Congress, held on 27th-28th November 2023.

The Congress gathers leading industry representatives to share innovative methods of industry transformation through digital tools and AI systems.

The whole value chain of the oil and gas industry has been facing great changes since the switching to switch to AI. More companies are implementing high-tech tools in exploration, development, production, transportation, and refining. For instance, TUPRAS has designed and implemented a portfolio for consolidating data science activities in the Tupras Data Analytics Centre.

The platform shares business details, data-related knowledge, modelling procedures, and deployment steps of projects for mediating and scaling ongoing operations, enriching knowledge transfer among stakeholders, facilitating ideation of 104 | EME Outlook Issue 55

new products, and supporting the onboarding of new employees and developers.

AI allows companies to discover new exploration prospects and enable better usage of existing infrastructures. At AUTOMA 2023, delegates are going to explore further industry development through AI systems, including predictive maintenance to manage unplanned operation shutdowns, first principle simulation techniques to provide sustainable production, and data science to impact the efficient performance of a company.

At the session, “Artificial Intelligence in Oil and Gas”, Norito Iwamuro, Senior Engineer at JGC Corporation, will discuss the digitalisation of information transfer from design in the EPC industry. Abhinav Priyadarshi, Global Director, Digital Transformation and Innovation at Wood, will also present the speech dedicated to creating a digital twin from scratch with a help of AI. Abhinav Priyadarshi

is going to discuss the collection and integration of data from various sources, modelling and simulation of the process, and deployment of the digital twin for real-time monitoring and control.

Among the speakers and delegates that will be imparting their intelligent solutions for industry transformation are representatives from NIS j.s.c. Novi Sad, Wood, Petrofac, PKN ORLEN S.A. Plock Refinery, Repsol, DESFA S.A., OMV Downstream GmbH, Seadrill, and many others.

The format of the congress provides an opportunity to network with key players of the industry for further mutually beneficial cooperation. Bojan Dimitrijevic, Digital Transformation Strategy Manager at NIS j.s.c. Novi Sad, shared his experience of participating at AUTOMA 2022: “This congress is a great opportunity to meet industry leaders as well as smaller companies.”

Learn more about AI in oil and gas with AUTOMA 2023: https://sh.bgs. group/wf

THE FINAL WORD To round off each issue, we ask our contributing business leaders for their views on the same question

What does good leadership look like to you?

Nikhil Patil CEO, GO Plc “Good leadership is all about bringing the best out of our people, helping them grow as individuals and professionals, and inspiring them to try new things, trusting and empowering them in the process.”

Andy Gatesy Chairman and CEO, Toly Group “Good leadership is about having the right vision for the business and ensuring a 106 | EME Outlook Issue 55

level of engagement for your people.

As we learned during the COVID-19 pandemic, life is not about waiting for the storm to pass; it’s about learning how to dance in the rain.

We must remain agile, positive, and forward-thinking, while at the same time maintaining the integrity of the business.”

Radek Strouhal CEO, Vítkovice Steel “As a leader, my greatest motivators are the successes of the company and

the satisfaction of our customers and employees. I believe that by providing high-quality products and services and creating a positive work environment, we can achieve our goals and continue to grow and succeed as a company. We are responsible to pass the company and society in general on to our children in better shape than we received it from our parents, and this is something I try to fulfil in my daily operations.”

Are you a CEO or Director with a company story to tell?

Contact EME Outlook now!

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