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Presentation of the Norsk Gjenvinning GroupDesember 2017
Content
I. The NG Group in a nutshell
II. Financial performance – Q3 2017
III. The road ahead
2
1 Source: Proff.no, based on latest available data (2016)
2 Market position per business area based on volumes (management estimates)
The Norsk Gjenvinning Group – overview
3
SWEDEN
NORWAY
DENMARK
Unparalleled, comprehensive geographic coverage from North to South with a large number of sites across Norway
Broadest range of services in Norway; the only player with total waste management business model
Innovator and leader in the provision of value added services
ISO-certified operations
Number of customers: 43,000
Number of employees: 1,200
Volumes: 1.8 million tons
Market share: ~25%
Recycling rate: 85%
Broad geographic coverage and strong local presence
10001302
4020
Helli
kT
eig
en
749
SA
R
793
Retu
ra
Ste
na
1008
Meta
llco
1029
Fra
nzefo
ss
Ragn
Sells
1047
Rekom
378
Revenues1 (MNOK)
The largest waste management company in Norway
UK
Broad product coverage and overall market leader in Norway
Total waste management
Project based businesses
Metals
Household collection
#1
Top 5
Top 3
#1
Mixed waste, paper, plastics, wood and other hazardous and non-hazardous waste
Industrial services Demolition services Emergency services
Ferrous and non ferrous materials, including end-of-life vehicles and electrical waste
Business area NG position2
Collection of household waste Public tender contracts
Large scale logistics operation
Large fleet of vehicles and containers - Point-to-point logistics, route collection and specialized service vehicles
Scale in transportation of secondary raw material globally – on the road and at sea
A key part of society's infrastructure –
what’s needed?
Hub-and-spoke plant infrastructure
Large central processing hubs to recycle resources from waste - scale at plant level increasingly important
Vast national plant network withstrategic locations close to urbancenters and industrial clusters
~NOK 6 billion mark-to-market in properties and fixed infrastructure
5
NGs industrialized value chain
5
Local market focus
Defined by customer needs
Focus on sales of high quality waste services and customer satisfaction
Long haul logisticsPlant operations Downstream salesCollection logistics
Upstream sales
Production
Focus on HSE, efficiency and right product quality to downstream customers
Raw material sales/trading
Focus on sales of recycled raw materials at optimal quality/price
Logistics
Focus on efficiency and pick-up/delivery precision to own plants and downstream customers
Provider of recycled raw materials through an industrialized value chainLocal service provider
Upstream customer focus Downstream customer focus
Optimized flow along the value chain for maximized gross margin with minimized operating cost
1 2
3
How do we help our customers create
competitive advantage?
6
Manhattan
Coal BauxittWaste based fuel
Brevik
Serox
How do we help our customers create
competitive advantage?
Waste management business model
– simplified value chain and P&L
Transportation + Mixedwaste
Upstream
Mixed waste
NOK/t
+1,500
Inbound transport
Equipment rental
+1,000
+150
Processing
Sorting out metals (10%
of weight)
Processing waste-to-
energy product
Downstream
Shredded waste
Metals
NOK/t
-500
+1,000
Inbound transport
Equipment rent
Mixed waste (upstream)
Revenue (metals sale)
Cost (waste-to-energy)
+1,000
+150
+1,500
+100
-450
Gross margin +2,300
Simplified P&L
Note: All figures are illustrative
Photographer: Marion Haslien 10
Positive fraction (upstream customers get paid for waste) – shredder material example
UpstreamMixed steel/metals
NOK/t-825
ProcessingShredding into smaller parts Sorting into:
— Steel 70% of weight— Metals 7% of weight— Waste 23% of weight
DownstreamSteel Metals mix Waste
NOK/t+1,375+10,500-1,500
1 ton mixed steel/metals Revenue (steel sale) Revenue (metals sale) Cost (upstream purchase) Cost (waste downstream)
NOK+962,5+735-825-345
Grossmargin +527,5
SimplifiedP&L
Content
I. The NG Group in a nutshell
II. Financial performance – Q3 2017
III. The road ahead
9
Q3 2017
10* No adjustments in revenues and/or gross profit were made in 2016
Highlights Q3 and YTD 2017• Flat development in waste volumes compared to Q3
2016; YTD waste volumes are up by 2.3%• Operating revenue, adjusted* for sales of real estate in
2016 is up 6.5% compared to Q3 2016; YTD adjusted operating revenue is up by 4.0%
• Gross profit, adjusted* for sale of real estate in 2016 is up by NOK 38.0 million compared to Q3 2016, and YTD adjusted gross profit is up NOK 64.1 million, driven by improved gross profit per ton waste. Adjusted gross margin is up 0.6 percentage points compared to Q3 2016, and up by 0.1 percentage points YTD.
• Adjusted EBITDA was NOK 130.0 million, up by NOK 34.6 million compared to Q3 2016; YTD adjusted EBITDA is up NOK 100.4 million
• NG200 cost and productivity initiatives implemented according to plan. Operating costs reduced by an additional NOK 6.0 million in Q3 in NG core divisions; NOK 36.0 million YTD.
Q3 is the fourth quarter in a row with increasing results
The results improvement comes as a result of our systematic work to industrialize Norsk Gjenvinning.
Higher effectiveness, lower costs and an improved gross margin were important contributors to the results improvement.
We expect a continued positive development for the group in Q4 and 2018
Operatingrevenue
ReportedEBITDA
Adjustments AdjustedEBITDA
Q3 2017MNOK
Q3 2016MNOK
EBITDA snapshot for Q3 and YTD 2017
1 026 113 -18 95
Special items in Q1:
• No special items
• Positive impact from Easter falling in Q2 in 2017 vs. Q1 in 2016 of 12-14 MNOK
Special items in Q2:
• No special items
• Negative impact from Easter falling in Q2 in 2017 vs. Q1 in 2016 of 12-14 MNOK
Special items in Q3:
• No special items
YTD 2017MNOK
2 998 256 -19 237
11
1073
1300
130
Operatingrevenue
ReportedEBITDA
Adjustments AdjustedEBITDA
YTD 2016MNOK
3100
339-2
337
Operatingrevenue
ReportedEBITDA
Adjustments AdjustedEBITDA
MNOK
3Q 2017
3Q 2016
Adjusted earnings by segment Q3
Division Recycling
Division Metal
Project based businesses
Household Collection
Revenues Adj. EBITDA(1)
617 99
567 61
Revenues Adj. EBITDA(1)
208 0
175 1
Revenues Adj. EBITDA(1)
84 4
101 6
Revenues Adj. EBITDA(1)
66 11
88 14
(1) Before internal charges
• Increase in revenue due to new contracts and GP expansion: upstream price increases and better downstream portfolio prices.
• Increase in EBITDA due to GP expansion and significant cost cuts
• Increase in revenue due to significantly higher prices for steel and metals
• Reduction in EBITDA albeit lower costs and stable production due to loss of ash contract and cost related to plant closures
• Reduction in revenue due to non-recurring revenue from major service stop at industrial customer in Q3/2016 paired with lower activity level in the North West
• EBITDA reduction since cost reductions not large enough to offset reduction in GP
• Lower revenue and EBITDA due to loss of Oslo contract
• Otherwise stable, steady and more profitable
• Awarded 4 new contracts in Q3 –Drammen, Kongsberg, Rakkestad and Norrtälje
12
Development in OPEX
Adjustments for divisions
not included in NG200
program(2)
Real cost savings Q3 2017on comparable
business
Absolute unadjusted OPEX cost reduction
Q3 YTD 2017 vs. Q3 YTD
2016
Comment
• Real cost savings of NOK 36 million as of Q3 YTD 2017
• Adjustments for:
1) Reversal of charges for onerous contract in Division Household collection; NOK 10 million allowance for employee bonuses
2) Adjustments for non core divisions not included in cost reduction program; and M&A’s (Sortera)
Adjustments for non
recurring items (1)
13
-10.3
-36.8
OPEX cost comparison Q3 2017 vs Q3 2016
MNOK
+11.0
-36.1
Outlook for 2017 and 2018
14
Full year 2017 EBITDA expected to be in the NOK 410-420 million range; NOK 435-445 million before extraordinary management bonuses
In 2018 we expect a continued improvement in our bottom line as we will continue to see the effects of our cost cutting and a range of other measures that will increase productivity and efficiency along the full value chain, combined with efforts to further improve gross margins through increased upstream prices. We do however expect somewhat lower commodity prices, especially for paper.
• EBITDA outlook for 2018:− 3-5% increase in top line compared to 2017; most of the top line growth to come from Household
Collection, Project businesses and other niche businesses − Expect gross margins* to be flat compared to 2017− We expect normal RDF and woodchips inventories, and metals volumes− Costs in core operations (Recycling and Metals) expected to increase slightly due to cost creep;
Costs in other parts of the business expected to increase following increased activity− EBITDA in 2018 expected to be 10-15% higher than in 2017
• FY 2018 Maintenance Capex expectations of 120-130 MNOK
• Growth capex of NOK 90 million, 60 MNOK investment in vehicles for the Household Collection business and 30 MNOK investment in environmental projects
• Comfortable liquidity position
* GM in core businesses expected to increase
Financials P&L Q3 2017 (1)
(1) The interim financial information has not been subject to audit
INTERIM CONSOLIDATED STATEMENT OF PROFIT AND LOSS
15
(NOK’000) Q3 2017 Q3 2016 YTD Q3 2017 YTD Q3 2016
Revenue 1 072 701 1 007 271 3 090 506 2 977 077
Other income 155 18 457 9 268 20 637
Total operating income 1 072 856 1 025 728 3 099 775 2 997 714
Cost of goods sold 539 669 513 259 1 540 413 1 485 148
Employee benefits expense 224 768 222 915 690 633 722 221
Depreciation and amortization expense 54 114 55 658 164 094 170 138
Other operating expenses 175 925 175 398 526 500 531 732
Other (gains)/losses - net 2 068 701 3 463 2 663
Operating profit 76 311 57 799 174 671 85 812
Finance income 1 168 14 988 2 955 24 344
Finance costs 37 137 51 825 166 962 154 649
Net income from associated companies 765 1 381 1 233 2 815
Profit / (loss) before income tax 41 108 22 343 11 897 (41 678)
Income tax expense 7 938 7 765 3 290 (16 158)
Profit / (loss) for the period from continuing
operations33 170 14 578 8 607 (25 520)
Profit / (loss) attributable to:
Owners of the parent 30 869 13 148 1 785 (29 768)
Non-controlling interests 2 301 1 430 6 822 4 248
Balance sheet Q3 2017(1)
(1) The interim financial information has not been subject to audit
ASSETS
16
(NOK’000) September 30, 2017 December 31, 2016
Non-current assets
Property, plant & equipment 950 893 1 015 748
Intangible assets 101 856 124 649
Goodwill 1 235 986 1 235 986
Deferred tax assets 85 999 96 262
Investments in associated companies 22 352 15 119
Other receivables 44 675 39 487
Total non-current assets 2 441 761 2 527 251
Current assets
Inventories 115 624 85 065
Trade and other receivables 783 323 607 663
Other financial assets - 3 581
Cash and cash equivalents 80 494 167 724
Total current assets 979 442 864 034
Total assets 3 421 203 3 391 284
Balance sheet Q3 2017(1)
(1) The interim financial information has not been subject to audit
EQUITY AND LIABILITIES
17
(NOK’000) September 30, 2017 December 31, 2016
Equity
Share capital and reserves attributable to owners of parent 80 907 75 125
Non-controlling interest 19 419 17 952
Total equity 100 326 93 077
Non-current liabilities
Loans and borrowings 2 428 839 2 431 168
Other financial liabilities 12 968 24 885
Deferred income tax liabilities 30 632 31 794
Post-employment benefits 9 461 7 919
Provisions for other liabilities and charges 79 957 93 531
Total non-current liabilities 2 561 858 2 589 298
Current liabilities
Trade and other payables 659 437 608 619
Current income tax 9 519 11 971
Loans and borrowings 64 562 65 432
Other financial liabilities 1 446 -
Provisions for other liabilities and charges 24 055 22 886
Total current liabilities 759 019 708 909
Total liabilities 3 320 877 3 298 207
Total equity and liabilities 3 421 203 3 391 284
Consolidated cash flow statement Q3 2017(1)
(1) The interim financial information has not been subject to audit
INTERIM CONSOLIDATED STATEMENT OF CASH FLOW
18
(NOK’000) YTD Q3 2017 YTD Q3 2016
Profit / (Loss) before income tax 11 897 (41 678)
Adjustments for:
Income tax paid (2 911) (2 457)
Depreciation and amortization charges 164 094 170 138
Items reclassified to investing and financing activities 144 478 135 302
Other P&L items without cash effect 10 229 (24 928)
Changes in other short term items (171 276) (132 939)
Net cash flow from operating activities 156 511 103 438
Payments for purchases of shares and businesses (9 000) (12 600)
Proceeds from sale of business 1 600 -
Payments for purchases of non-current assets (80 318) (140 596)
Proceeds from sale of non-current assets 13 004 37 303
Net other investments (11 420) -
Net cash flow from investing activities (86 134) (115 893)
Repayment of borrowings (2 358) (834)
Debt related expenses (3 217) -
Net change in credit facility (15 879) 27 048
Dividend paid to non-controlling interest (5 355) (2 757)
Net interest paid (131 558) (136 315)
Net cash flow from financing activities (158 367) (112 858)
Net increase in cash and cash equivalents (87 990) (125 313)
Effect of exchange rate changes 760 (4 291)
Cash and cash equivalents at beginning of period 167 724 219 819
Cash and cash equivalents at end of period 80 494 90 215
Content
I. The NG Group in a nutshell
II. Financial performance – Q3 2017
III. The road ahead
19
Foundation for our development and growth;
three step transformation
20
2012 2014 2016 2019
Developing human capital --- Culture and leadership
Compliance and risk management
Cost cutting«NG 200»
Industrialization
Set new direction Establish control
systems
Plant consolidation SG&A cuts 15% reduction in OPEX
NG Flow (Lean) Innovation and growth
Reorganizing for focus
21
Separate «focusedcompanies» from core divisions
Establish Div. DownstreamFocus Div. Metall and Div. Industri & Offshore
Div. Recycling = TWM
Household Renovation (NGR)
Demolition (NGE) R3
Landfills (NGMP) NG M3
Security shredding (NGS) Norsk Makulering
Downstream sales, trading and transport separated from core divisions into newly established Division Downstream
Division Metal from «local scrap handler» to industrial company
Hazardous waste and SME suction moved to Division Recycling; Division Industry focused on industrial cleaning for industrial clients
Division Recycling total supplier, incl. metals and hazardous goods for SME companies
Long haullogistics
Plan operations
Collection logistics
Downstreamsales
Upstreamsales
NG M3
R3 (incl. Industry)
IBKA
Norsk Makulering
CORE DIVISIONS(Div. Recycling, Metal and Downstream)
OTHER BUSINESS AREAS/ FOCUSED COMPANIES
NGR
3,5
3,9
3,6 3,6
3,94,1 4,0
4,34,1 4,0
4,2
3,6
2,5
3,0
3,5
4,0
4,5
2016
2015
2014
2013
3,93,6
3,9 4,0
3,5
3,94,1
3,7
4,1 4,1
3,74,0
2,0
2,5
3,0
3,5
4,0
4,5
More motivated employees
pulling in the same direction
22
Increased understanding of goals, and connection to own tasks
Increased trust towards leaders
Increased satisfaction and motivation
Increased cooperation
Employee pride = dedicationand productivity
Examples of positive effects
My immediate leader is a role model
I trust my immediate leader
I understand NG’s overall goals
I look forward to going to
work
In my unit we support each other
Motivation is high in my unit
Employee Survey answers (examples)
Basic quality is critical for customer
satisfaction and loyalty
21
3,6 3,73,5
4,5 4,6 4,7
4
3,5
3
2,5
4,5
2
1,5
1
0,5
0
År 2011 År 2012 År 2013 År 2014 År 2015 År 2016
52% 54%
37% 37%33%
30%
20%
10%
0%
40%
50%
60%
År 2011 År 2012 År 2013 År 2014 År 2015 År 2016
We are close to the top in Norway on customer loyalty
We are no. 29 amongst Norwegian companies accordingto ‘Norsk Kundebarometer’
Very tough measure «have you ever…». The average score for Norwegian companies is 42%
We have moved from poor to good in a very short time
Customer loyalty
From the customer survey: How likely are you toremain a customer of us in the future?
5
Customer complaints
From the customer survey: Have you ever complained or felt reason to complain during the
past year?
49%
September ’16 price increase
gave 2,5 x higher effect than previous years
Effects 2017
Gross annual effect of 55 MNOK (3,3%)
- No of complaints: 314
Gross annual effect in 2015 of 20,4 MNOK
- No of complaints: 327
Tendency of better ability to maintain effects over time:
- Mixed waste up 4% in 2016
- Woodchips up 8% in 2016
OVERVIEW PER REGION
Total effect (NOK)
Change in abs.
revenue*Agder 374 567 4,5 %Hordaland 261 034 2,0 %Midt-Nord 491 647 3,3 %Nord-Vest 193 641 2,5 %Rogaland 228 698 2,7 %TVB 1 530 806 3,6 %Øst 1 743 646 3,6 %Østfold 138 848 1,7 %Totalt 4 962 888 3,3 %
* Absolute revenue = Invoiced to customer + absolute value of credits to customer (ex: invoiced 1000 kr for mixed waste and credited 500 kr for metals = 1500 kr«absolute revenue» This revenue includes all customers, inkl. national contracts, i.e. 3,3% is the effect on the total portfolio.
22
Broad based improvement in Recycling
25
NG Region TVB
NG Region Øst
NG Region Midt-Nord
NG Region Østfold
NG Region Hordaland
NG Region Rogaland
Tomwil Miljø AS
NG Region Nord-Vest
NG Region Agder
Totalt Divisjon Gjenvinning + Downstream
iSEKK AS
Løvås Transportfirma AS
Østfold Gjenvinning
Totalt Divisjon Gjenvinning
67
-6
5
8
8
8
12
14
11
19
11
0
129
116
40
21
-3
2
2
5
6
6
6
10
4
2
72
73
2017 vs 2016, YTD October
Revenue growth, MNOK EBITDA 1 growth, MNOK
Broad based Improvement:• Margin mgmt• Cost cuts• Increased
productivity
Key successfactor: Strong local leadership
Broad based improvement in Downstream:
Stabile volumes and improving gross margins
24
Sustainability is integrated in our strategy as a
foundation for growth and increased profitability
Compliance with internal and external rules –ensured by our control system and value-based management
Represents our "licence to operate" and is a key differentiating factor
Focus on efficiency improvements, innovation and new business models as catalysts for pushing resources upwards in the waste hierarchy
Circular economy is the core of our business:– It is based on our vision– It is critical for profitable growth and a
sustainable position in the long term
Efforts that reduce our negative environmental impact at the same time as improving our profitability
Proving the social and environmental benefits of our services and value chains, such as the climate benefits of material recycling
S U S T A I N A B I L I T Y
C I R C U L A R E C O N O M Y
O W N F O O T P R I N T
C O M P L I A N C E
27
Ipsos 2017 survey of the most reputable
companies in Norway
Source: https://www.aftenposten.no/okonomi/i/yLLva/Omdommesvikt-for-Posten_-Norwegian-og-Reitan-gruppen
38
34
31
25
17
22
20
18
10
17
21
21
19
15
11
16
16
17
15
11
46
47
47
52
55
50
51
51
59
51
47
44
45
48
51
46
46
44
46
50
0 20 40 60 80 100
NRK
Tine
Vinmonopolet
Coop Norge
SAS
Gjensidige Forsikring
Jotun
TV2
Statoil
Bama Gruppen
Norsk Tipping
Aftenposten
Volvo Personbiler Norge
Color Line
Findus Norge
Norwegian
Widerøe Flyveselskap
Toyota Norge
Norsk Gjenvinning
TV Norge
Percent
Overall impressionVery good Quite goodRanking by sum of +
The table shows the top 20 companies that achieve highest overall score on reputation
26
Foundation for our development and growth;
three step transformation
29
2012 2014 2016 2019
Developing human capital --- Culture and leadership
Compliance and risk management
Cost cutting«NG 200»
Industrialization
Set new direction Establish control
systems
Plant consolidation SG&A cuts 15% reduction in OPEX
NG Flow (Lean) Innovation and growth
Jan-16 Change Nov-16
Summary of the NG200 cost program 2014-2016
NG Group total SG&A headcountRun-rate FTEs
347- 93 FTE
440
10.1% 8.4%Cost as % of total revenues
NG Group plant consolidationNumber of plants
28
NG200 cost program 2014-2016
Cost reducing initiatives of ~360 MNOKcompleted on target cost base in corebusiness areas (before cost creep)
− ~15% of 2014A OPEX
− ~13% of 2014A Transport Cost
− Reduction of ~300FTEs
A key aspect of cost cutting in NG has been consolidating our plant structure; from 74 plants in 2012 to 40 plants at the end of 3Q 2017
Another key aspect of NG200 has been SG&A cuts, including a major effort in 2016 to align SG&A headcount with NGs organization and plant structure
Foundation for our development and growth;
three step transformation
31
2012 2014 2016 2019
Developing human capital --- Culture and leadership
Compliance and risk management
Cost cutting«NG 200»
Industrialization
Set new direction Establish control
systems
Plant consolidation SG&A cuts 15% reduction in OPEX
NG Flow (Lean) Innovation and growth
Summary of 3-year plan –
original 2016 plan
Downstream salesDownstream/mid-stream
logisticsProcessingUpstream logisticsUpstream sales
Regionalized dispatch and co-located regional sales frontline close to customer
Central competence center/ group to perform route optimization and support, track and push regions
Organization / footprint
Operations
Standardize and automate processes at dispatch offices
Implement new tools for route optimization
Optimize and standardize operating model (use of load carriers, hired vs. own cars)
Reduce number of self-managed plants
Convert sorting plants to reloaders
Wind down or outsource operations of redundant/ marginal plants
Implement lean production processes at main plants
Start systematic lean initiatives on regional transport terminals and plants, to ensure standardized production methods and performance measurement
Centralize all long haul logistics (between plants and downstream) in one unit and build competence
Take complete control of downstream and internal logistics (today provided by 3rd parties) to take advantages of scale
Maximize weight/car from load optimization
Continuously build/ improve portfolio (pricing and balance) through re-negotiations, optimization of contracts and sales to new geographies
Take physical positions in immature markets based on improved market insights
Increase 3rd party trading volumes
Change business model so division Downstream takes over all price and market risk from the upstream divisions
Continuously develop organization and increase market focus
Regional sales mgmt Tailored salesforce and
deployment Strengthen central
sales, customer service and “hunter”-sales
Centralize back office function
Standardize and increase follow-up of salesforce based on improved tools/KPIs
Implement standardized and improved pricing model
Prioritize customers and optimize channel strategy
Customize product offering to meet each segment's unique needs
1 2 3 4 5
32
Our platform for organic growth is reflected in
our value proposition
33
32
…and efficiency of local collection logistics increasesas a result of continuous improvement
Example:
Daily board meeting collection logistics – Oslo
35
34
Major productivity increase based on continuous improvement measures in line with Lean principles
2017E
220 000
84 000
186 000
2014 2015 2016
134 000
Production Øra shredderTonnes per year
Implementing basic Lean principles and continuous improvement in plant operations…
38%
Focus on measurement and follow-up
Training and development of employees
Basic order and control (5S)
Structured problem solving and root cause analysis
Improvement projects in daily operations
…has driven a significant productivity increase
Example:
Daily board meeting plant operations
37
Order and standardization
5S example: Before and after picture
From Lean-review in January 2017: 5S = ~0 From Lean-review in April 2017: 5S = ~5
36
Plant maintenance
37
Increased volumes enables a larger downstream marketand more efficient long-haul logistics
383333
2017E
+7%
Increasing number of bulk vessels downstream# vessels bulk ferrous, Øra
More frequent shipments and larger carriers
2015 2016
Increasing number of containers downstream# containers non-ferrous, Øra
561464
423
+15%
20162015 2017E
2016
3.359
+16%4.269
2017E2015
3.182
Increasing bulk vessel sizeAverage load per shipment of ferrous,Øra (tonnes)
38
Downstream volumes by geography
(2017 metric tonnes)
Domestic 463,644
2,294
9,019
547,107
21,444
Asia 46,675
29,829
Export 850,356
56,500
137,486
39
42
NG’s Nordic industrial value chain
Proprietory collection units/businesses
Cooperation partners
Competing collection companies
End customers with proprietory collection
Long haul transportation
Plants and terminals Downstream sales
Collection logistics
Upstream sales
One Nordic downstream business unit; scale in global sale of recycled raw materials
One Nordic long haul transportation unit; cross border optimization
One organization to coordinate Nordic plant footprint; clear roles for the largest industrial facilities, and standardized, Lean operations
One common Nordic value chain for resycled raw varer
Volumes from many local service providers in Scandinavia
Collection logistics
Upstream sales
Collection logistics
Upstream sales
Norway: Oslo, Bergen, etc
Sweden: Stockholm, GOT, etc
Denmark: Copenhagen
▪ Solid line leadership, committed management group
▪ Active development of corporate culture based on clear vision, mission and values
▪ Purpose driven and motivated organization with high scores on job satisfaction and strong execution ability
In summary –
our platform for growth and profitability
▪ NG Flow: Continuous improvement, value chain optimization and margin management
▪ Most major investments taken; scalable growth platform
▪ Systematic risk management (environmental, operational, financial)
▪ Compliance program based on zero tolerance, transparency and internal control regime
▪ Focused corporate structure with strong positions in all major business areas
▪ Strong improvement in basic delivery quality
▪ 15% opex reductions 2014-2016
▪ Leading player on customer satisfaction and loyalty, strong brand recognition, and acknowledged among Norway’s top 20 most reputable companies
▪ Strengthened pricing power and ability to win customers based on quality and sustainability
▪ Increasing focus on strategic partnerships and customer driven innovation43
Strong foundation; efforts to clean up, restructure, and adapt costs are finalized
Distinct development of a purpose driven organization with strong line-leadership
Well underway in establishing the first truly industrialized value chain in our industry
Starting to reap significant commercial benefits from the leading position we have taken; with customers, partners, and the general public
28