At Altrad people are at the centre of our business. Everything we do revolves around people of high quality, integrity and vast experience who work together in highly effective teams. This is what sets us apart from the competition and is the primary factor that has driven the success of the organisation over many years. It really isn’t that complicated, in the UK, Ireland and Norway we have great people who deliver on what they say they are going to do!
The frontline teams on sites ultimately deliver the end-product for our customers and this is what we are judged by. However, across the whole business we have fantastic back office support teams who enable our site teams to effectively deliver the work. Done well, our customers see the positive impact of these internal relationships. Therefore, we all have a critical part to play and I see great examples of this every day.
I’m also conscious that we need to do more on the diversity within our teams. We need to make a conscious effort to look outside of the traditional alpha male environment that exists in our industry and target a much wider pool of talent. Change is good, and differing views and ideas must be embraced, otherwise other kinds of change will be more difficult to achieve. Attracting people from different backgrounds, capabilities, life-experiences and cultures is a good thing that and we will actively target these people. Most of our customers are already doing this, so it’s important that we reflect their changes with our own workforce.
As the number one support services provider in the UK, we are constantly the focus of our competition. As I have said before, we have no assumed right to be number one and must fight hard to maintain it. There will be bumps along the way, and we have previous experience of competitors committing to unsustainable offerings from time to time. We will remain disciplined and continue to challenge ourselves to achieve excellence in everything we do, delivering sustainable improvements and innovations to our customers year on year. It is my responsibility to continue to invest in L&D and in new technologies, adding value to our employees, customers and shareholders in a sustainable manner.
All of this adds up to excellent financial performance. Our year-end was 31 August and our overall performance has been very strong, showing year on year improvement in profitability and best in class management of cashflow. We have ambitions to build on this in the current financial year through a combination of organic growth and strategic acquisitions.
There have been some fantastic achievements over the last few months. Along with our partners Doosan Babcock, Balfour Beatty Bailey and Cavendish Nuclear we have recently secured the MEH Contract on Hinkley Point C as part of the MEH Alliance. We have secured five-year extensions to our Decommissioning Delivery Partnerships frameworks at Sellafield and are in advanced discussions with EDF to extend the framework contract. Opportunities like these are worth in excess of £500m and will set the course for the organisation for the next decade.
Change continues to be a constant theme in our business and industry, so I thank you for weathering the challenge this brings. While I can’t say that the volume of change will alter, every day I see that we’re getting better at navigating it, continuing to focus on delivering for our customers. This makes me very proud of the whole team.
Thank you for continuing to deliver excellence!