Annual report 2013

Environmental issues are the order of the day. Indeed, a sustainable approach to

business has been embraced by all levels of our organisati on. How do we ensure

that our world remains fi t to live in? Shield Group comprises a range of companies

that aim to improve our environment and workplace. Globally we rely on our

dedicated specialists who take care of our clients’ cares and work to achieve a

healthier environment.

Keeping the future in shape

Shield Group Internati onalShield Group Internati onal is an internati onally operati ng e-TIC company, which means that all our companies are working in the fi eld of Testi ng, Inspecti on and Consultancy combined with educati on and e-services, that daily works on Risk & Compliance Management. We strive to create a healthy living and work environment that is free of asbestos, ceramic fi bers, Legionella, chemicals, microbiological organisms or other substances and situati ons that are potenti ally hazardous to human health or could damage the environment. Our specialists are working to develop soluti ons for a variety of environmental and health & safety issues, thus allowing current and future generati ons to enjoy an opti mum environment to live and work in.Shield Group currently employs over 800 people. Besides enjoying considerable growth in the Netherlands, the organisati on is also expanding in Belgium, Luxembourg, France, Germany, Scandinavia, England, Scotland and Spain.

Our visionEveryone is enti tled to live and work in a healthy environment, in which unnecessaryexposure to hazardous substances and unsafe circumstances has been eff ecti velyminimized. This means that in everything we do, we strive to ensure that the basicelements of our environment – soil, water and air – are clean and healthy.

Our missionThe subsidiaries of Shield Group Internati onal inspect, check, test and manage the presence of substances and situati ons that are potenti ally hazardous to people’s health, as well as examine how people deal with these threats. Shield Group monitors and fl ags when compliance levels are exceeded and advise the client accordingly. Our job is defi ned by effi ciency, repeti ti on and clear and relevant communicati on.

“An inventive work environment

offers room for personal

development, and everyone

needs to both assign

and assume responsibility

in their work.”

We care about your cares

Our ambiti on is driven by the shared objecti ve of all Shield Group’s operati ng

companies: enable to create a healthier and safer environment and build

confi dence to act.

Shield Group comprises the following operati ng companies and fi elds of acti vity:

The NetherlandsOesterbaaisurvey & consultancy in the fi eld of asbestos, ceramic fi bers, demoliti on, vibrati on, noise and hazardous materials. www.oesterbaai.nl

BME engineers high-end project management in the fi eld of asbestos, demoliti on and building management. www.bme.nl

BME asbestconsult survey & consultancy in the fi eld of asbestos. www.bme.nl

BME Training & Educati on Training on asbestos, demoliti on, legionella, SCC (VCA) and fi re safety. www.bme.nl

Fibrecount inspecti on & testi ng & clearance measurements for asbestos, ceramic fi bers and hazardous materials. www.fi brecount.nl

Bioconsult inspecti on & testi ng & consultancy in the fi eld of legionella, food safety and indoor climate & indoor air quality. www.bioconsult.nl

DAC Fire Safety & Consultancy survey & consultancy combined with data management and training in the fi eld of Fire risk and safety. www.dacbv.nl

Saferspaces survey & consultancy in the fi eld of hazardous materials, legionella & water and industrial hygiene.www.saferspaces.nl

United Kingdom:Shield On-Site Services inspecti on & testi ng, survey & consultancy in the fi eld of asbestos, ceramic fi bers, hazardous materials, (industrial) air emissions, stack testi ng and industrial & occupati onal hygiene combined with data management and training. www.shieldon-siteservices.co.uk

HSLsurvey & consultancy and maintenance in the fi eld of legionella & water and fi re risk & safety.www.hertelsoluti ons.com

Belgium, France & Luxembourg:Fibrecount inspecti on & testi ng, survey & consultancy in the fi eld of asbestos, ceramic fi bers, demoliti on and hazardous materials combined with data management and training. www.fi brecount.bewww.fi brecount.fr

Denmark / Scandinavia:Dansk Bygningsanalyse AS inspecti on & testi ng, survey & consultancy in the fi eld of asbestos, hazardous materials, mold, funghi, indoor air quality, insects, wood rot, chemicals, moisture, temperatureand training. www.dba.as

Spain:Fibrecount Iberica inspecti on & testi ng, survey & consultancy in the fi eld of asbestos, ceramic fi bers, demoliti on and hazardous materials combined with data management and training. www.fi brecount.es

Germany:Fibrecount sampling & testi ng in the fi eld of asbestos, ceramics and hazardous materials. www.fi brecount.de

Norway:Norkjemi survey & consultancy in the fi eld of legionella & water and energy opti mizati on.www.norkjemi.no

Our operatingcompanies

complies with the latest standards and requirements. Real value is provided to clients by increasing producti vity through reducing workplace injuries and sickness, also helping to increase trust between client staff by prioriti sing employee welfare.

Energy Opti misati onSustainability and energy aware usage are important for our future. Energy opti mizati on involves programmes to analyse the substance in the hot water energy system. The water analysis is carried out in order to secure opti mal quality. Based on the results the substance can be treated or chemically cleaned to ensure the system has an opti mal functi onality and thus reduce the energy consumpti on.

Training & educati onTraining and educati on are key to prevent unnecessary exposure to materials, substances and situati ons which cause a threat to human health. Acquiring knowledge helps our clients to undertake steps towards a healthy living and work environment. There is a great demand for training and practi cal educati on on health & safety in general. Risk percepti on and awareness amongst clients about safe living and working environment is growing and therefore increasing the demand for

knowledge, informati on and training. Shield Group has a wide range of tailored and fl exible training and educati on programmes on health and safety issues. Training and educati on are given on asbestos, ceramic fi bres, asbestos removal & management, demoliti on, safety (SCC), Legionella, industrial hygiene, fi re safety, microbiological issues and air emissions. Our clients vary from government, real estate owners, industrial and mariti me companies to asbestos or demoliti on companies. Shield Group companies give the selected training and educati on at the clients chosen ti me, at our offi ce or the clients’ workplace, with an interacti ve approach taught in small groups and by providing customised training material including company policies.

“Shield Group’s growth path in

2013 – we strengthened our

portfolio through acquisitions

with additional services like

energy optimization and have

been successful in growing our

market share in legionella and

asbestos and entering Norway.”

Asbestos & Hazardous materialsDangerous materials and substances were and are applied in many buildings, vessels,industrial equipment, factories or oil rigs all over the world. Within the fi eld of dangerous materials and substances we provide certi fi ed or accredited surveys,monitoring programmes, risk evaluati ons and advice. Surveys are currently mainlyfocussed on dangerous fi bres like asbestos and ceramic fi bres. Aft er the survey we takecare of management plans, plans of acti on for removal or demoliti on, tender scopes and supervision or project management during the executi on. All services are combined with e-services, called EVA, PCM or Tracker which are web based management programmes. Caring about the clients cares we also provide 24/7 incident service. These services are internati onally provided to real estate owners, housing corporati ons, mariti me & off shore and industrial clients, with an emphasis on quality, responsiveness, professionalism and value for money.

Shield Group’s laboratories off er independent accredited testi ng in the UK, France, Germany, The Netherlands, Belgium, Scandinavia and Spain according to the latest standards. We analyse samples from all over the world and we can test materials throughout Europe within 24 hours. Our laboratories test asbestos in soil, bulk, dust, water and air for the presence of asbestos and other fi bres (ceramic fi bres, manmade mineral fi bres and other potenti ally hazardous fi bres). We analyse those samples with various technologies: light microscopy, polarizati on microscopy, Scanning Electron Microscopy and Transmission Electron Microscopy. Our laboratories are supported by our own courier services and laboratory informati on system.

Our laboratories also off er independent and accredited Inspecti ons, air sampling, risk assessments and clearance measurements (following removal). With their experti se and full equipped mobile laboratories our inspectors are prepared to give on the spot and accurate results and this all over the world according to the clients wishes.

Mold & Indoor Climate The presence of (micro)biological agents, like mold can be a hazard to human health. Shield Group provides a set of services to take care of your cares and to prevent litt le Vivian, Merel, Anne, Clare, John, Pedro, Lars, Jan, Karsten & all other children getti ng in contact with mold.

On suspicion of indoor climate problems, such as growth of mold, our building consultant systemati cally reviews the building to identi fy possible att acks. From the (potenti ally) infected areas samples are taken, in the form of contact plates, tape samples, material samples and air samples. The samples are grown in our laboratories for Indoor Climate & Microbiology, and subsequently analysed by microscopy for speciati on and quanti ty. Aft er reviewing the analyti cal results we provide our clients with advise to either remove the mold att ack or to monitor the issue over ti me. As part of the advice we deliver acti on plans, Mold management plans, cost esti mati ons for removal and aft er removal we can provide clearance measurements.

Legionella & other MicrobiologyShield Group’s laboratories can inspect, sample and test if Legionella bacteria are present in any system where water is stored or used. Our laboratories are accredited for Legionella inspecti ons, sampling and testi ng for both hot & cold water. We are driven by quality, fl exibility and a fast result turn around and are supported by our own courier services and laboratory

informati on system. Our microbiology laboratories also inspect, sample and test on food safety, fungi, yeasts, hygiene, air quality and other bacteria. In additi on we provide project management & coordinati on to help our clients to take of their cares by acti ng as independent consultants.

Fire Risk & SafetyAlmost all Real Estate, Industrial objects, Ships in the Mariti me sector and Off shore platf orms are obliged to have a Fire risk assessment by legislati on. If Risks are present owners / tenants need to have a Fire risk management plan with implemented steps and procedures to reduce or remove these risks and this plan has to be reviewed and evaluated over ti me.

Shield Group can help organisati ons with Fire Risk & Safety issues and provide our clients with customized soluti ons to comply with legislati on by carrying out Fire risk audits, risk assessments, risk management, training and data services.

Industrial HygieneIndustrial and Occupati onal health and hygiene is the process by which health hazards and health and safety compliance issues in the living and workplace are surveyed, evaluated and controlled. Our services provided are: COSHH, workplace and indoor air quality / monitoring, venti lati on, noise & vibrati on, hazardous materials surveys, waste treatment – effi cacy, ambient air monitoring, clean room and duct, lead tank declassifi cati on, spillage support, DSEAR / ATEX assessments, odour assessments, occupati onal health assessments and a wide range of physical, chemical and biological laboratory analysis. Shield Group can give clients pragmati c, tailored and cost eff ecti ve advice which

Our services for a healthy environment

Operati ng income (in € million) 55 36 19.1 18.3

Growth (%) 53% 88% 4.9% 1.7%

EBITDA (in € million) 7.8 7.8 5.3 4.6

FTE (average) 591 318 146 134

Producti vity per FTE 93K 113K 131K 136K

Margin (%) 14% 20% 27% 25%

Key fi gures Shield Group 2013 2012 2011 2010

asbestos & hazardous materials (52%)

mold & indoor climate (7%)

legionella & other microbiology (34%)

industrial hygiene (2%)

industrial air (2%)

fi re safety (<1%)

training & educati on (3%)

Percentage per Shield Group acti vity

Our fi elds of experti seShield Group and her companies are by the combinati on of Inspecti on, Testi ng, Consultancy and Educati on combined with data services able to deliver a one-stop-shop approach in Risk & Compliance Management for:1. hazardous materials, substances

and gases, 2. hazardous micro-biological agents, 3. dangerous situati ons,4. sustainability Compliance.

Within Shield Group the focus is currently on Asbestos, Hazardous materials, Mold, Fire Risk & Safety, Indoor Climate, Air Quality and Legionella. Our Laboratory, Inspecti on and Consultancy services contribute to preventi on of risks in the work- and living environment and enable our customers to act.

We strive for the positi on of market leader in all countries we are based and build a robust size and structure in the various countries.

There is strong demand for study programmes and practi cal training in the area of asbestos, demoliti on methods and environmental and safety issues. The demand for knowledge, public informati on and educati on grows by an increasing

percepti on and awareness of potenti al safety risks in today’s residenti al and work environments. We are happy to share our knowledge and experience with our clients by off ering programmes and courses in a wide range of risk areas.

ICT based Risk & Compliance programmes, improving the power of data, data mining & benchmarking and a direct and accurate insight in our clients present Risk(s) are an essenti al part of our service portf olio for Risk & Compliance Management.

Shield Group is a.o. operati ng in the sectors:• Real Estate,• Hospitals and Healthcare related homes,• Schools, Universiti es and other

educati onal property,• Banks & Insurers,• Social Housing,• Housing corporati ons, • Government,• Contractors / demoliti on,• Project development, • Industry (chemical, petrochemical,

steel, energy, automoti ve, etc.),• Mariti me & Off shore.

We care about your cares

“We always try to determine the

fundamental cause of the issue,

and offer advice on the basis

of a clear long-term vision,

by providing pragmatic and

inventive solutions in the most

cost effective way.”

“We believe in sustainable

relationships that are

supported by the exchange

of knowledge.”

Our futureShield Group Internati onal cares about its customers cares and according to our vision:• Is market leader in asbestos, ceramic

fi bers, hazardous materials, demoliti on and building management, legionella, mold, funghi, indoor climate, indoor air quality, industrial & occupati onal hygiene, industrial air emissions, fi re risk & safety. energy, training & educati on and this in selected countries;

• Will expand in other selected European countries;

• Will broaden their services portf olio. ExpansionThanks to our experience in the area of surveying, inspecti ng, testi ng and project management, we are confi dent that we will be able to further strengthen and develop our current positi on in the coming years. The next years, Shield Group will conti nue to expand its range of services by taking new initi ati ves in niche markets in current and or new countries.

We focus on providing customer-oriented, reliable and fl exible service.

Our ambiti on and growth perspecti veShield Group was established in 2004. Since then our turnover has increased from circa € 5 million, to around € 55 million in 2013, based on a solid profi t margin. We aim to maintain a stable organic growth of 8 to 12% per year, supplemented by relevant acquisiti ons in various niche markets. In expanding our organisati on, we plan to both grow in our existi ng acti viti es, including geographic expansion, and diversify with capabiliti es that relate to the Group’s mission.

Hongkongstraat 53047 BR Rott erdamThe Netherlands

T +31 (0)10 208 84 00F +31 (0)10 208 84 33

I www.shield-group.euE info@shield-group.nl