This year's report provides you with an overview of our newly formed company; a company that has at its heart the drive to enhance society together - with its clients, staff and partners.

The global challenges faced by our world today ask for real teamwork by governments, business, knowledge institutions, communities, and society as a whole. As a business, our contribution is not only expertise, but also a pragmatic approach with solutions that are innovative and sustainable. Innovation and sustainability go hand in hand to design solutions that are affordable, easy to maintain, and deliver clear benefits to owners and users.

We are therefore proud to report on our activities and achievements in 2012, the most momentous being the merger of our two organizations to become Royal HaskoningDHV. A merger accomplished in record time.

Now, as one of Europe's leading independent, international, consultancy, engineering and project management service providers, we deliver projects from more than 100 offices in over 35 countries.

Our staff are commended for their determination and commitment to the enormous challenge of integrating our market sector teams, systems and processes, and creating a new industry brand. We became a legally integrated entity on 1 January 2013.

While serving our clients and attending to activities concerning the merger, we have also kept our sights on expansion. Turkish geotechnical consultancy, ELC Group, joined the company and our capabilities within the aviation sector were extended by acquiring IPM, the United Kingdom based aviation specialist.

From a market perspective 2012 was, without a doubt, the most challenging year we have endured, especially in the public sector in Europe. This is reflected in our financial results and actions to adapt capacity to market demand. We are disappointed to report negative results, due to market conditions and resulting restructuring costs, as well as costs associated with the merger. However, the company has sufficient buffers to fund these costs.

As the Executive Board we are nevertheless positive about what has been achieved; a merger in record time and continuing our leadership in sustainability and innovation. Royal HaskoningDHV emerges ready to take on great things in 2013, by delivering world-class solutions not only in Europe, but especially in growth markets in Africa, the Middle East, Southeast Asia and South America.

We look forward to continuing our work with long standing clients and partners, and to forging new alliances across our industry sectors. In partnership, we solve some of the world's most pressing challenges - enhancing society together, now and for future generations.
Bertrand van Ee,
Chair of the Executive Board