Annual Report 2015 Best operational results since 2007 in uneven year cycle
1.75 million visitors to convention centre record numbers so far this decade
Dutch events show moderate growth economic recovery continues
Further growth in international events strategy bears fruit
The Amtrium in use multifunctional convention complex increases flexibility
Cover: AutoRAI, 2015.
Disclaimer: Whenever this annual report mentions ‘RAI Amsterdam’, ‘we’, ‘the company’ or similar indications, it refers to RAI Holding B.V. as explained in the ’Corporate governance‘ section. Segments of this annual report contain opinions regarding the future. These segments can – without limitations – contain expectations on future realised and unrealised results, profits, payments, government measures, the impact of other regulating measures on the activities of RAI Amsterdam, subsidiaries and macro-economic trends and the performance of RAI Amsterdam. Such statements are preceded or followed by or include terms such as ‘believe’, ‘expect’, ‘prognosticate’, ‘feel’, ‘anticipate’ or similar. These future-oriented statements are based on current assumptions of future activities and are subject to known and unknown factors and other uncertainties, many of which are outside RAI Amsterdam’s sphere of influence. This means that future results can, in fact, differ substantively from these expectations.
In view of Title 9, Book 2 of the Netherlands Civil Code, the information given in the sections ‘In brief' 'Governance and risk management' and 'Annexes' is also part of the section ‘Report by the management’. For reasons of presentation, this information is not repeated in this section.
Inhoudsopgave . . . . . 1. In brief
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. . . . Key data
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. . . . . . . . . Foreword by the CEO
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. . . . . . . . . . . . . . . . . . Composition of Supervisory and Executive Board
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. . . . . . . . . . The power of connections
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. . . . . . . . Facilitating success
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. . . . . . . . . . . . . . . . 2. Statement from the Supervisory Board
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. . . . . . . . To our shareholders
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. . . . . . . . . . . 3. Executive Board report
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. . . . . . . Results in 2015
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. . . . Events
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. . . . Strategy
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. . . . . . . . . . . . . . . . Implementation of strategy in reporting year
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. . . . . . . . . . Company and personnel
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. . . . . . . . . . . . . . Shareholder equity and loan capital
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. . . . . Prospects
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. . . . . . . . . . . . . . . 4. Governance and risk management
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. . . . . . . . . . . 5. Financial Statement 2015
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. . . . . . . . . . . . . . . . . . . . . . . . . . . 1.1. Consolidated balance sheet (before proposed appropriation of results)
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. . . . . . . . . . . . . . . . . . . . . . . . Notes on the consolidated balance sheet as on 31 December 2015
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. . . . . . . . . . . . . . . . . . . . . Notes on the consolidated profit and loss accounts 2015
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. . . . . . 7. Appendix
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#01
In brief
4
Profile RAI Amsterdam is an international exhibition and convention organisation. We aim to bring together, connect and inspire people by organising and facilitating meaningful encounters.
Mission and strategy Our mission: 'Inspiring people' RAI Amsterdam creates the
All RAI Amsterdam’s activities ultimately revolve around our guiding principle of inspiring people.
conditions in which inspiring
We believe in the power of connection and aim to create the best possible conditions for inspiring
meetings take place
encounters. Whether it is an exhibition for the general public, a large conference, an international trade exhibition, a dance event or a theatre show, in everything we do, this essence – inspiring people – remains central.
Strategy: 'enhancing the value of encounters’ adding maximum value
RAI Amsterdam provides added value for its visitors by bringing them together in an inspiring environment. In doing so, we contribute to successful business, memorable events, pleasant evenings or any other goal that connects our guests. This is why RAI Amsterdam’s strategy is designed to enhance the value of meetings, in all their many aspects.
attuned to the needs of the contemporary visitor
RAI Amsterdam’s aim – bringing people together and inspiring them – has remained the same since the first exhibition, which was held over 120 years ago. The manner in which RAI Amsterdam achieves this is fine-tuned to the wishes and requirements of the visitors of today and tomorrow.
Company RAI Amsterdam has two divisions which work on the realisation of its strategy.
Convention Centre around 500 events
The RAI Amsterdam Convention Centre is an innovative, sustainable and cost-efficient building complex, situated in an easy-to-reach location at a relatively short distance from the city centre. The convention centre accommodates around 500 events and 1.6 million visitors every year.
Employees: hospitality first years of experience in meeting
Whether it involves a meeting of five people, 50,000 conference delegates or 250,000 exhibition
the most diverse objectives
visitors, RAI employees are proud to contribute their experience and expertise, providing a wide range of services and products which ensure a hospitable welcome. It is thanks to the professionalism of our employees that all the requirements of our clients are met to their complete satisfaction.
5
Multifunctional building complex the dynamics of combi- letting: fast and flexible switching between events
The strength of the convention centre lies in its multifunctional character, which allows the RAI to switch quickly and flexibly between the widest possible range of uses. As a result the weighted average effective occupancy rate of the RAI Amsterdam Convention Centre is one of the highest in Europe.
easy-to-reach location
The Convention Centre is situated on the edge of the city centre and has its own train and metro station. A second metro station, connected to the North/South metro line, is expected to open in 2017. Visitors can travel from the Convention Centre to the main hall at Schiphol Airport or the historic centre of Amsterdam in less than ten minutes.
Exhibitions: organisation and operation of RAI exhibition titles 25 national and international consumer and trade events
Around half of the turnover of RAI Amsterdam is related to RAI-organised events. The RAI Exhibitions division develops and operates our exhibition titles. In total it organises 25 consumer and trade events, both Dutch and international. These events largely take place in Amsterdam, but some are organised elsewhere in the Netherlands and abroad.
Strong international position world market leader in five segments
Retaining a clear focus on first-class events and our knowledge of markets and target groups, RAI Amsterdam has exhibition titles in five sectors in which it is a global market leader. These sectors (and exhibition titles, respectively) are: professional cleaning (ISSA/INTERCLEAN), remanufacturing (ReMaTec), traffic technology (Intertraffic), the maritime sector (METSTRADE), and water technology (Aquatech). The various international exhibitions and conferences organised by third parties in RAI Amsterdam Convention Centre, as well as the spin-off exhibitions organised by RAI Exhibitions in China, Mexico, Turkey and the US, also contribute to our strong international position.
Physical and virtual meetings new media supports events
In addition to physical meetings at events, RAI Amsterdam also facilitates virtual encounters beyond the event itself. This enhances the reach of exhibitions and conventions and allows the continuation of contacts between target groups and communities outside of event dates.
Stimulating city and society RAI Amsterdam stimulates city
RAI Amsterdam stimulates the economy in the city and region. Hotels, restaurants, museums,
and region
transport companies, suppliers and the airport benefit from the large number of exhibitors and visitors who visit the city due to the (often international) exhibitions, conferences and events. The economic value of RAI Amsterdam to the Amsterdam metropolitan region was reassessed in late 2014, showing a further increase over recent years. RAI Amsterdam was found to generate a total turnover in the Amsterdam region of over 600 million euros as well as 7,000 jobs on a full time basis.
6
leader in Corporate Social
Corporate Social Responsibility (CSR) is an integral part of the policy of RAI Amsterdam. Our CSR
Responsibility
approach has received international recognition with the most prestigious sustainability certificates. The progress made in the 15 CSR policy areas is reported annually in a separate sustainability report.
Shareholders two shareholders
RAI Association: 75%
RAI Amsterdam has two shareholders: the RAI Association and the City of Amsterdam.
The majority shareholder (75%) in RAI Amsterdam is the RAI Association, the trade association for manufacturers, importers and wholesalers of mobility-related products such as cars, trucks, bicycles and trailers. The association has 500 members.
The involvement of the association with RAI Amsterdam has a long history as the bicycle industry started organising an annual trade exhibition in Amsterdam in 1893. The name RAI, which stands (in Dutch) for ‘bicycle and automotive industry’, was developed several years later when the automotive sector joined.
City of Amsterdam: 25%
The remaining shares are owned by the City of Amsterdam (25%), the participation of which dates back to 1956 and has an economic background.
Personnel 400 employees and around 3,000 flexible workers
RAI Amsterdam employs around 400 people (around 375 FTEs). Approximately half of these have a commercial position, 40% an operational role and 10% are in management. Temp workers are also deployed for specific events. The RAI has a fixed pool of around 300 regular flexible workers and employs some 3,000 temps a year.
7
Key data Events and visitors: including MECC Maastricht up to 2012.
Events Numbers
2015
2014
2013
2012
2011
International events
41
54
47
48
47
Dutch events
43
43
48
59
59
Stage shows
39
55
85
119
83
Other events
325
383
297
403
406
Total in Amsterdam
448
535
477
629
595
Elsewhere in the Netherlands
1
1
-
4
8
Outside of the Netherlands
9
8
10
6
7
Total outside of Amsterdam
10
9
10
10
15
458
544
487
639
610
2015
2014
2013
2012
2011
Total
Visitors Numbers x 1,000
International events Dutch events
330
471
451
392
306
1,048
672
677
764
1,058
Stage shows
40
62
80
125
82
Other events
327
313
173
152
140
1,745
1,517
1,381
1,433
1,587
Total in Amsterdam
7
-
-
50
79
Outside of the Netherlands
83
62
67
62
43
Total outside of Amsterdam
90
62
67
112
122
1,835
1,582
1,448
1,544
1,708
2015
2014
2013
2012
2011
Elsewhere in the Netherlands
Total
Organisers Number and approval rating
Events for external organisers
434
521
464
616
580
Client satisfaction
7.7
7.8
7.6
7.4
7.3
2015
2014
2013
2012
2011
Exhibitors Number and approval rating
15,816
18,649
15,389
16,364
16,453
Exhibitors from outside the Netherlands
60%
63%
55%
52%
52%
Client satisfaction
7.5
7.6
7.4
7.3
7.2
Exhibitors
8
Turnover and results Amounts x â‚Ź1 mln
2015
2014
2013
2012
2011
Exhibitions and events
56.9
47.5
39.4
52.5
53.5
Letting to third parties
18.1
22.3
23.6
23.2
23.5
-
-
-
3.2
4.0
Catering
15.5
15.1
17.8
16.9
18.1
Parking
5.9
4.5
4.3
5.4
6.2
Hotel commission
3.3
3.4
3.5
3.1
3.3
24.3
24.8
20.8
22.3
18.2
Trade journal publications
Facility services Other
2.1
2.1
7.2
8.1
6.8
126.2
119.7
116.6
134.7
133.6
Outsourced work
58.6
45.4
46.0
57.3
58.9
Wages and salaries, incl. social security and
27.8
29.2
29.1
31.5
31.0
13.8
14.3
15.3
15.8
14.5
Turnover
pension contributions Amortisation Other operating expenses
17.0
17.2
19.1
24.1
21.4
117.2
106.1
109.5
128.7
125.8
22.7
27.9
22.4
21.7
22.8
Operating result
8.9
13.7
7.1
6.0
7.8
As % of turnover
7.1%
11.4%
6.1%
4.5%
5.8%
4.2
9.3
3.3
2.1
3.1
2015
2014
2013
2012
2011
Operating expenses EBITDA
Net result
Balance sheet Amounts x â‚Ź1 mln
86.7
84.7
77.7
76.4
76.3
Balance total
201.8
198.0
189.9
196.2
203.9
Solvency
43.0%
42.8%
40.9%
38.9%
37.4%
2015
2014
2013
2012
2011
375
384
390
479
489
100%
100%
100%
100%
99%
-
7.9
-
7.7
-
Shareholder equity
Personnel Employed by group, average
Employees, FTE In the Netherlands
Employee satisfaction (biennial)
9
Foreword by the CEO Hard work, solid results satisfied with performance
2015 was a good year for RAI Amsterdam. In the reporting year, the operating result was €8.9 million. While the exceptional record numbers from last year were not matched, all the objectives set for 2015 were realised. Looking at our biennial events cycle, 2015 represented the best result we have had in an uneven year since 2007.
1.7 million visitors
In 2015 we received 1.75 million visitors in the RAI Amsterdam Convention Centre, the highest number since 2009. From the opening of the current RAI complex in 1961, we have had 99.6 million visitors in all. The spring of 2016 saw us welcome our 100-millionth visitor.
solid score on quality indicators
We had high scores on our quality indicators as well, despite a slight drop of 0.1 with respect to 2014. The clients gave us approval ratings of 7.7 (organisers) and 7.5 (exhibitors). Employee satisfaction, which is measured every two years, reached a high point of 7.9 at the end of 2014.
RAI Amsterdam significantly boosts regional economy
In addition to the results for RAI Amsterdam itself, the contribution we make to the economy of the Amsterdam region has also increased again: every euro of added value within RAI Amsterdam Convention Centre produced seven euros for tourism and companies in the surroundings. The importance of RAI Amsterdam has increased partly thanks to the growth of international events, which produce more turnover for hotels, restaurants and air travel & other transport than Dutch events. In the reporting year, RAI Amsterdam generated over one per cent of the Amsterdam economy in terms of added value – a social contribution of which we are proud.
certified as Top Employer
We are also proud of our certificate as Top Employer, which we received for the second year running in February 2016. The Top Employers Institute carried out an independent study which demonstrated the merits of RAI Amsterdam’s employer policy. The certificate confirms that RAI Amsterdam is dedicated to the development of its employees.
“Within our biennial events cycle, RAI Amsterdam has continued the trend of a rising operating result in the reporting year.” Positive international reception for AutoRAI successful 2015 edition
We can look back on the 2015 edition of AutoRAI 2015 with considerable satisfaction. A collective effort by management, employees and the RAI Association resulted in a fresh, consistent and costefficient concept. This ‘gallery’ concept was highly appreciated by the exhibitors, attracted high numbers of visitors and even achieved international recognition by winning first prize in the Best Trade Show category at the European Best Event Awards (EuBea) in Seville.
10
insufficient basis for continuation
Despite international praise, there was regrettably an insufficient foundation to continue the exhibition in 2017. It became apparent as early as the summer of 2015 that too few brands were interested in registering, which means that there will be no further editions. We are particularly disappointed on behalf of all the car enthusiasts who will no longer be able to enjoy this wonderful event every two years.
Transformation into an international exhibition company strategic focus on large, international, multiday events
At the same time, RAI Amsterdam has transformed itself over the past decade into an international exhibition company. A strategic focus on large, international, multiday events has significantly reduced our dependence on general public exhibitions that focus on the Dutch market, such as AutoRAI. In 2015, 70% of the events (both RAI Amsterdam’s own exhibitions and events for external organisers) had an international character.
Strong portfolio of RAI events success of international exhibitions
The strong financial results were made possible in part thanks to the strength of the RAI’s own portfolio of events. The international exhibitions in particular, including Aquatech, the METSTRADE show and the SuperYacht Pavilion, realised better financial results than expected.
Real estate developments proceeding according to plan RAI Spatial Future Vision sustainable development in current location
RAI Amsterdam and Amsterdam City Council’s Zuidas Service jointly formulated the ‘RAI Spatial Future Vision’ report in 2011, which determined that the RAI Amsterdam Convention Centre should remain at its current location and focus on sustainable development.
Opening of the Amtrium multifunctional Amtrium gives RAI a new face towards the city centre
The multifunctional Amtrium was the first project to be realised as part of this new vision. The mayor of Amsterdam, Eberhard van der Laan, opened this third-generation exhibition complex, which combines exhibition, convention, catering and office functions, at a festive ceremony on 2 June. The new building has two restaurants, one of which can be used as a pop-up restaurant open to the public. Another highlight is the greenhouse for urban farming integrated in the southern façade of the building. Before its opening, the Amtrium was the first convention building in Europe to be given the BREEAM-NL Excellent label by the Dutch Green Building Council (DGBC). The Amtrium has given RAI Amsterdam a new face towards the city centre.
Hotel and multifunctional parking garage next phase of development reached in reporting year
On 28 April, Amsterdam City Council’s Zuidas Service, RAI Amsterdam and the consortium that won the tender presented the concept for the nhow RAI Amsterdam Hotel. The construction of an on-site hotel represents the fulfilment of a long-held ambition by RAI Amsterdam. With 650 rooms, the nhow RAI Amsterdam Hotel (scheduled for completion in 2018/2019) will be the largest hotel in the Benelux. The iconic design by OMA (the agency founded by Rem Koolhaas) will ensure that the RAI hotel becomes an instant landmark in the Zuidas district.
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September 2015 saw construction start on the multifunctional parking garage, which will be completed in August 2016. This will enable us to provide extra parking capacity for another 1000 cars and an additional exhibition space of 2,800 m² in time for IBC 2016.
Multi-year investment programme completed RAI Amsterdam Convention Centre technically and
Our important multi-year investment programme was nearly completed in 2015, which means that the entire Convention Centre is technically and qualitatively up-to-date.
qualitatively up-to-date
“Independent research has shown that spin-offs of events in RAI Amsterdam are highly beneficial to our city and region.”
Equity interest of the City of Amsterdam RAI Amsterdam provides substantial contribution to city and region
The City of Amsterdam holds 25% of the shares in RAI Amsterdam. In every board term, there is an assessment of whether the municipality’s interest needs to be maintained. Independent research has shown that spin-offs of events in RAI Amsterdam are highly beneficial to our city and region. In the perspective of RAI Amsterdam, it is of major importance to keep the large international events in the city. The Supervisory Board and Executive Board therefore feel that the interests of the city and its inhabitants are best served if the Amsterdam municipality remains involved as shareholder.
Departure of Supervisory Board chairman Hans Vermeulen departure in April 2015
Hans Vermeulen resigned his chairmanship and membership of the Supervisory Board of RAI Holding in April 2015. The RAI and the Executive Board would like to thank Mr Vermeulen for his many years of service and involvement in our enterprise.
Pride, gratitude and trust Paul Riemens and Maurits van der Sluis take over
2015 was a period of preparation for changes within our company. I will hand over the reins to my successors Paul Riemens and Maurits van der Sluis on 1 May 2016, after 14 years in this position. This means that this is the last annual report in which I will address you directly. I would like to take the opportunity to share with you three emotions: pride, gratitude and trust.
I am proud of the team, of the company and of the performances which we have realised over the past years. RAI Amsterdam came through the economic downturn unscathed, even managing to strengthen its innovative drive and international prominence. Both financial and non-financial results have improved over the past years, despite the decline of activities in the Dutch market.
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I am grateful to the stakeholders who helped us achieve this growth and make such a performance possible. I would like to thank our visitors, exhibitors and organisers, as well as our shareholders, the Supervisory Board, our employees and the people of Amsterdam, for their involvement with RAI Amsterdam.
I have every faith in the company, my successors and the employees who will continue to assure the hospitality of which RAI Amsterdam is so emblematic, and I look forward to the future with confidence.
Amsterdam, 17 March 2016
RAI Holding B.V. Hans Bakker, CEO
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Composition of Supervisory and Executive Board Supervisory Board On 31 December 2015, the Supervisory Board consisted of the following five members:
Roelf de Boer (1949), chair of the Supervisory Board appointed on 23 April 2015,
Dutch national. Member of the Supervisory Board on the recommendation of the RAI Association.
first term of office until April
Additional functions: chair of the Supervisory Board of Zeeland Seaports, De Beijer BV and the
2019, chair since 24 April
Policy Research Corporation.
2015
John van der Steen (1954), vice-chair of the Supervisory Board and chair of the Audit Committee appointed on 7 april 2011,
Dutch national. Consultant at Aon Groep Nederland B.V. Other commissionerships: member of the
second term of office until
Supervisory Board and member of the remuneration committee and audit committee of BinckBank
April 2019, vice-chair as of 2014
N.V., chair of the Supervisory Board of Princess Sportsgear & Traveller B.V., member of the advisory council of M.A.S.C. Company B.V. Additional function: director/owner of Ansteen Holding B.V. and Board member of the foundation Donateurs van het Concertgebouworkest.
Annemarie van Gaal (1962) appointed 15 September 2015, first term of office until September 2019
Dutch national. Moderator and speaker, columnist for De Telegraaf, financial expert in the television programme ‘Een dubbeltje op zijn kant’. Commissionerships: member of the Supervisory Board of Pathé and AFM (from 15 July 2015 to 1 January 2016). Additional function: member of the committee of recommendation for the foundation Het Vergeten Kind.
Ferry Houterman (1949) appointed on 1 September
Dutch national. Member of the Supervisory Board on the recommendation of the works council.
2004, third and last term of
Independent management consultant. Other commissionerships: member of the Supervisory Board
office until September 2016
of Rabobank Amsterdam, Hampshire Hotel Group and Tahal/GTC (Kardan Group). Additional social functions: member of the Supervisory Board of BNN-VARA Omroep, CNV Connectief (education, health care, government), Waarborgfonds Kinderopvang / Ruimte Onderwijs (until 1 May 2016), Jongeren Cultuurfonds, Metropole Orkest and ROC Leiden.
Shulamith Rijxman (1959) appointed on 12 April 2012,
Dutch national. Member of the Supervisory Board on the recommendation of the City of
first term of office until April
Amsterdam. Member of the Executive Board of Nederlandse Publieke Omroep (NPO). Additional
2016, declined a second term
functions as NPO Executive Board member, board member of Coproductiefonds Binnenlandse Omroep (CoBO) and board member of STER. Additional social functions: chair of Amsterdam Marketing, member of Mijksenaar advisory council and member of the Supervisory Board of Dutch National Opera & Ballet.
Stepped down in 2015
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Stepped down in 2015 J.R. (Hans) Vermeulen (1941), chair appointed on 19 December 2008, chair from 17 April
Dutch national. Previously director of Koninklijke Vermeulen Hollandia B.V. and chair of the RAI Association. Additional social functions: chair of the foundation Elisabeth van Thuringen.
2014, resigned as chair and member on 23 April 2015
Executive Board At the end of 2015, the Statutory Board consisted of one person.
Hans Bakker (1951), CEO appointed in 2002, resigning on 1 May 2016
Dutch national. Commissionerships: chairman of the Supervisory Board of Transavia Airlines B.V., GVB Holding N.V. and SnowWorld Leisure N.V. Additional social functions: chair of the Supervisory Board of Holland Marketing (NBTC), chair of the board of the Stichting Jumping Amsterdam, member of the appeals committee of the Travel Refund Guarantee Fund (until 1 January 2016) and the Dutch Calamity Fund for Travellers (until 1 January 2016), board member of the Amsterdam Museum Foundation, member of the Supervisory Board of the foundation Hulphond and member of the advisory council for the Faculty of Economy and Business of the University of Amsterdam (UvA). Other additional functions: counselling advisor of MIRUS B.V. and director/owner of VIMARO Management B.V.
From 7 April 2016, there will be a new Statutory Board, consisting of a CEO and a COO.
Paul Riemens, CEO from 7 April 2016 appointed from 7 April 2016 for first term of office until April 2020
Dutch national. Current function: CEO of Luchtverkeersleiding Nederland. Additional functions: Member of the advisory council of the National Aerospace Laboratory (NLR), member of the advisory council of the Nederlands Lucht- en Ruimtevaart Fonds, member of the advisory committee of the foundation Hoogvliegers, member of the Supervisory Board of Twynstra Gudde, chair of the executive committee of CANSO, chair of the Supervisory Board of the St. Jansdal hospital, member of the advisory council of DDA.
Maurits van der Sluis, COO from 7 April 2016 appointed from 7 April 2016 for first term of office until April 2020
Dutch national. Current function: director of the RAI Amsterdam Convention Centre. Additional functions: member of the MPI Foundation Council / Meeting Professional Int., chair of The Leading Centers of Europe, treasurer of the foundation Voorfinanciering- en Garantie Fonds.
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The power of connections ...with Amsterdam
From a European and global perspective, the RAI Amsterdam Convention Centre is exceptionally easy to reach.
322 direct flights Amsterdam Schiphol Airport is known for its quality and accessibility. Thanks to an impressive 322 direct connections with other cities, the airport is a genuine hub of transport networks. With its 55 million passengers per year, Schiphol is the fourth most frequented airport in Europe.
A short distance from airport to RAI Amsterdam The distance from the runway at Amsterdam Schiphol Airport to the RAI Amsterdam Convention Centre is just ten kilometres. There is a direct and very frequent connection from the railway station in the airport. Once the train departs, it takes no more than ten minutes to reach the Amsterdam RAI station.
... within Amsterdam
Thanks to its central location, RAI Amsterdam offers visitors an inspiring stay.
Historic city centre The Dutch capital is famous for its unique architecture: the 17th century canal belt was added to the UNESCO World Heritage list in 2010. The open culture and atmosphere of Amsterdam ensure that all international guests feel welcome.
Compact city, short distances A major benefit for international visitors is that Amsterdam is much more compact than other European cities. With a distance of only four kilometres from the exhibition complex to the heart of the city centre, visitors can easily combine their business trip with a pleasant, urban experience.
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Facilitating success RAI Exhibitions • Develops and operates around 15 international trade exhibitions in and outside of Amsterdam
In the Netherlands • Develops and operates around 10 national trade and consumer exhibitions in Amsterdam
• World market leader in Amsterdam with five RAI-organised exhibitions/brands
• Portfolio includes some of the largest paid public events in the Netherlands
International
• Spin-offs of the parent brands in Mexico, China, Turkey and the United States • International network of offices and
RAI Convention Centre Organiser Services
• Development of online communities and virtual contact strategies • Marketing Services manages and operates a visitor database with around two million unique entries • Partnership & Media Solutions optimises exposure during and around events
agents
Exhibitor Services • Webshop with products and services for exhibitors. Integration of event organiser in website • Service desk for last-minute orders • Extensive range: stand construction, meeting rooms, lounges, ICT and more • Exhibitor catering, flexible availability
• Offers knowledge and networks related to the Netherlands, Amsterdam and the RAI • Solutions in the field of IT, hotel accommodations, catering, logistics, audio-visual and media • Exhibition management; advice and support • Visitor/exhibitor registration systems
Marketing • Strategic programme focused on revitalising physical encounters
• Oversees various event-related licensing issues
Visitor Services • Facilitates over 175,000 hotel bookings a year • Guaranteed availability of rooms for large events • Special conditions for flights via partner KLM • Parking, cloakrooms and other visitor services • Various types of visitor catering: wide range of bars, lounges, 9 restaurants and 28 concession stands; from buffet to à la carte and take away venues • Transfers, excursions, car and bicycle rental, boat tours and more
Certificates
RAI Amsterdam has the following certificates in 2016: • 5-hamers • Top Employer • AIPC Gold • ISO-9001 • EarthCheck Gold • ISO-14001 • Green Key Gold
• OHSAS-18001
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#02
Statement from the Supervisory Board
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To our shareholders The Supervisory Board hereby presents the annual report of RAI Holding B.V.
approved audit statement from
The annual report was compiled by the Executive Board, and includes the financial statement for
accountant
2015. BDO Audit & Assurance BV (BDO) checked the financial statement and provided it with an approved audit statement, which is included in the Other Information section of this annual report.
Supervisory, advisory and employer role tasks of the Supervisory Board
The Supervisory Board oversees the policy of the Executive Board and the general affairs of the company and its affiliates. In addition, the Supervisory Board provides the Executive Board with advice, both at the latter’s request and on its own initiative. The Supervisory Board also has an employer role with regard to the Executive Board. In the performance of its duties, the Supervisory Board acts in the interests of the company and its affiliates and takes into account the interests of the company's stakeholders. The manner in which the Supervisory Board has acted in these roles during the reporting year is described below.
The supervisory role of the Supervisory Board periodical reports: results of the year-to-date report and report to shareholders
The internal supervision of the Executive Board and the general affairs of the company is realised by monitoring the achievement of the intended results. For this purpose, the Supervisory Board makes use of two progress reports submitted by the Executive Board: the year-to-date results (YTD) and the report to shareholders. The discussion of these reports is regularly on the agenda of both the Audit Committee and the full Supervisory Board.
The year-to-date report provides a rolling forecast of the annual results. It also includes other financial indicators, such as capacity utilisation and liquidity. The report to shareholders features financial reports as well as the accomplishment of non-financial goals (using the Business Balance Score Card methodology).
In addition to the regular periodic supervision described above of the execution of the financial and operational targets during the year, the following topics were considered during the reporting year.
risk evaluation
RAI Amsterdam has systems for risk analysis and control, and periodically informs the Audit Committee of risk-related developments. The risk aspects of the relevant topic are also explicitly mentioned by the Executive Board for all matters where a decision of the Supervisory Board is requested. Once a year (in the September meeting) there is an in-depth discussion of risks which examines the various individual risks to a greater extent. The Audit Committee has indicated that the Executive Board has correctly estimated the risks and considers the indicated likelihood of risks and estimated impacts to be correct. The Executive Board has clarified this risk analysis in the Governance and Risk Management section of this report.
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security policy: recurring point on the Audit Committee’s agenda
Security policy is a fixed item on the agenda of the Audit Committee’s meetings. Special attention is given to cybercrime, and the likely consequences of other calamities related to the security policy are also discussed periodically. RAI Amsterdam has a calamity plan and regularly trains its staff in how to deal with and be more conscious of incidents.
policy outline memorandum 2015-2020
The policy outline memorandum for 2015-2020 specifies the development of RAI Amsterdam’s finances under three hypothetical scenarios in the near future. The various scenarios have been devised in order to show financial stakeholders (shareholders and banks) that RAI Amsterdam will continue to perform within the agreements of the bank covenant even if the turnover falls below expectations.
annual plan 2016
The Supervisory Board approved the 2016 annual plan at its December meeting, including the budget and investments.
approval of adjustments to multifunctional parking garage
In September 2014, the Supervisory Board gave its approval to a € 19.5 million investment in a multifunctional parking garage. Later, the approved investment was found to contain space for adjustments that would make the project more attractive. The Supervisory Board agreed to the adjustments to the multifunctional parking garage on the basis of the updated business case in the spring of 2015.
reappointment auditing accountant
After an extensive tendering process, the decision was made in March 2015 to propose the incumbent accountant BDO Audit & Assurance B.V. for appointment by the General Meeting for the period from 2015 to 2017. The proposal was accepted by the General Meeting on 23 April 2015.
The advisory/sounding board role of the Supervisory Board In its advisory role, the Supervisory Board acts as a sparring partner for the Executive Board. The following topics were among those discussed within the Supervisory Board and accompanied by opinions and comments.
RAI Exhibitions strategy 20152018
The director of RAI Exhibitions presented to the Supervisory Board the strategy derived for his department from the corporate strategy 2015-2018. It is a growth strategy which focuses on the core message of revitalising physical encounters and creating value. International expansion and virtual applications will form an important part in the elaboration of the different strategic priorities and actions for the coming years.
discontinuation of AutoRAI in 2017
Despite being a success, AutoRAI 2015 was found to have an insufficient foundation for the concept to be continued in the future. The Supervisory Board discussed the consequences of cancelling the 2017 event with the Executive Board. RAI Amsterdam will attempt to find alternative ways to fill the space initially reserved for AutoRAI in 2017.
shareholdership of the City of Amsterdam
Amsterdam City Council is examining whether it should maintain its 25% participation in the shares of RAI Holding. This study will take place in the context of a periodical review of the Municipality’s holdings. The Municipality is not expected to make a decision on its shares in RAI
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Holding until the summer of 2016. It is important to the company and all stakeholders that RAI Amsterdam form an opinion on the follow-up to any sale of shares by the Municipality. An internal working group has been set up for this purpose in which the Supervisory Board members John van der Steen and Ferry Houterman are participating together with the Executive Board and several managers.
The Supervisory Board shares the view of the Executive Board that it is in the interest of the company – and, we firmly believe, of the City of Amsterdam – that the Municipality maintain its shares in RAI Holding.
status of spin-off location policy
As specified in the strategic plan, RAI Amsterdam continues to set up joint ventures in China, Turkey and Mexico to support spin-off exhibitions. RAI Amsterdam has already set up a separate entity in the USA.
progress of strategic projects
RAI Amsterdam has a five-year cycle for formulating and implementing its overall strategy. A
2014-2017
brainstorming session for a new strategy took place with the Supervisory Board in 2011. The strategy was updated in 2014 to accelerate its implementation. Twenty-two projects were defined, and are currently being developed by more than 50 managers and employees. The Executive Board shares the progress of the strategy projects with the Supervisory Board.
RAI Amsterdam employee satisfaction survey
An employee satisfaction survey is held among RAI Amsterdam employees every two years. The results of the November 2014 survey were discussed at the first Supervisory Board meeting of 2015. Employees were found to be highly satisfied with regard to colleagues (7.9) and RAI Amsterdam as a company (7.7). Ideas were exchanged on the lower-scoring categories.
communication framework of the RAI strategy
RAI Amsterdam has set up a framework for the internal and external communication of its strategy in order to link together its brand essence, core values and strategic programmes. This communication framework of the RAI strategy (also referred to as the RAI Roadmap) was presented by the Executive Board to the Supervisory Board with the invitation to comment and make suggestions.
The employer role of the Supervisory Board changes at the top at RAI
The departure of the current CEO Hans Bakker on 1 May 2016 was a good opportunity for the
Amsterdam
Supervisory Board, among others, to re-examine RAI Amsterdam’s hierarchical structure. The Supervisory Board decided to have two statutory directors in the future: a chief executive officer (CEO) and chief operations officer (COO). In the search for a suitable external candidate for the position of CEO, the selection and appointment committee sought the assistance of an internationally recognised executive search agency. The shareholders were kept informed during the recruitment process.
appointment of CEO and COO
The position of CEO was filled in January 2016 by the appointment of Paul Riemens (53), who hails from the aviation sector – he had been CEO of the Dutch air traffic control agency Luchtverkeersleiding Nederland (LVNL) since 2008. In Riemens, RAI Amsterdam has appointed a
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man with a proven track record of operating in an international high-pressure environment where stakeholder management is critical to success. In addition, the Supervisory Board sees Riemens as a passionate person who connects people and ideas. After an independent assessment, the position of chief operations officer (COO) of RAI Amsterdam was filled by the appointment of Maurits van der Sluis (50). Van der Sluis has worked at RAI Amsterdam in various commercial roles since 1996, most recently as commercial director of RAI Amsterdam Convention Centre. Together, the new CEO and COO will provide renewed impetus and help strengthen the position of RAI Amsterdam as a leading exhibition and conference company in Europe. Both directors started their statutory functions on 7 April 2016.
General Meeting full Supervisory Board present during General Meeting
The General Meeting took place on 23 April 2015 and involved issues such as the annual report 2014, the dividend policy for 2013-2018 and the determination of the dividend over 2014, the annual plan for 2015 (including budget), and the appointment and reappointment, respectively, of Mr De Boer and Mr Van der Steen to the Supervisory Board. The General Meeting was attended by the full Supervisory Board, as well as the general and financial directors.
Supervisory board relation management informal consultation with shareholders
Shareholders are consulted during informal discussions as well as during the General Meeting. Each shareholder is regularly kept abreast of the developments within RAI Amsterdam by the Executive Board and two members of the Supervisory Board in the spring and autumn.
consultation with works council
Two meetings of the RAI Amsterdam Works Council are attended each year by a delegate from the Supervisory Board. Mr de Boer visited the Works Council on 30 April and Ms Rijxman on 29 October.
Activities of the Supervisory Board Composition of the Supervisory Board On 1 January 2015, the Supervisory Board had four members, with one position unfilled.
chairmanship transferred to Mr De Boer
Hans Vermeulen resigned as member and chair of the Supervisory Board during the General Meeting in April 2015 having been part of the board for 6.5 years. The Supervisory Board would like to thank him for his inspiration, hard work and team spirit. At the same General Meeting, Roelf de Boer (65) was appointed member of the Supervisory Board on the recommendation of the RAI Association. Mr de Boer had been the president of the RAI Association until mid-2014. The members of the Supervisory Board named Mr de Boer chairman shortly after the General Meeting. The Supervisory Board now has a chair with a rich administrative and political experience in topics including logistics, transport, health care and the automotive sector.
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appointment of fifth member
On 15 September 2015, Annemarie van Gaal was appointed a member of RAI Amsterdam’s Supervisory Board. She has many years of knowledge and experience in media and international business and an extraordinary affinity with innovation and financial management. Her appointment filled the empty fifth seat on the board.
announced departure of Ms Rijxman
The first term of office of Shulamith Rijxman as member of the Supervisory Board will end during the General Meeting on 7 April 2016. Ms Rijxman has let the Supervisory Board know that she does not wish to be considered for a second term, as she has a large number of other social functions in addition to her commissionership at RAI Amsterdam, and prefers to focus on these. The Supervisory Board understands and respects this decision, and is grateful her efforts on behalf of RAI Amsterdam.
The personal details of members are indicated in the In Brief section, in the paragraph ‘Composition of Supervisory Board and Executive Board’.
Supervisory Board regulations On 26 March 2015, the Supervisory Board set revised regulations for the Supervisory Board of RAI Holding B.V. These regulations include the allocation of tasks and the working method of the Supervisory Board. An integral part thereof is the profile of the size and composition of the Supervisory Board, the schedule indicating when board members will step down, and the regulations of the Audit Committee, Remuneration Committee and Selection and Appointment Committee.
The regulations of the Supervisory Board and its committees and the profiles of the Supervisory Board as well as the regulations of the Executive Board can be found in their entirety on the RAI Amsterdam website (www.rai.nl).
Indemnification indemnification agreement
All current board members and the statutory director are indemnified by the company. It has been decided to schedule a discussion of the indemnification and related policy in the Audit Committee once a year.
Conflict of interests no transactions with conflicting interests
There were no reports by members to the chair of the Supervisory Board about any conflicts of interest relevant to the company or individual members of the Supervisory Board. During discussions on the contractual agreements related to the nhow Hotel RAI Amsterdam, Mr Houterman left the meeting due to his commissionership at the Hampshire Hotel Group.
Meetings four regular meetings with general and financial directors
In 2015 the Supervisory Board held four regular meetings in the presence of the general director, the financial director and the company secretary. In the meeting in which the financial statement was submitted for approval, the external accountant was present for that specific agenda item.
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Ms Rijxman and Ms Van Gaal were each unable to attend a meeting on one occasion. The regular meetings are generally also preceded by a consultation among the members. Furthermore, members of the Supervisory Board are in touch with each other outside of meetings if necessary.
two meetings without general or financial director
The Supervisory Board has also met twice in a closed session. Topics discussed during these meetings included the implementation of the new hierarchical structure, the appointment of new members and the membership of the Supervisory Board committees from January 2016.
regular consultations with general director
The chair of the Supervisory Board and the CEO met regularly to discuss progress on various topics this year.
Committee reports composition of Supervisory Board committees in reporting year
The Supervisory Board established an Audit Committee, a Remuneration Committee and a Selection and Appointment Committee from among its members. Due to this year’s changes in the Supervisory Board, the composition of the Remuneration Committee and the Selection and Appointment Committee was changed after the General Meeting in April 2015.
Audit Committee
The Audit Committee consisted of John van der Steen (chair) and Ferry Houterman in the reporting year. Both of them will continue this task in 2016.
Remuneration Committee
The Remuneration Committee consisted of Hans Vermeulen and Shulamith Rijxman until 23 April 2015. After Mr Vermeulen resigned as chair of the Supervisory Board, he was replaced in this committee by Roelf de Boer. In 2016, the Remuneration Committee will consist of Annemarie van Gaal (chair) and Mr de Boer.
Selection and Appointment Committee
Until the General Meeting in 2015, the Selection and Appointment Committee consisted of all the members of the Supervisory Board under the chairmanship of Hans Vermeulen. Since the General Meeting, the committee has consisted of Roelf de Boer (chair) and Shulamith Rijxman. In 2016 Ms Rijxman will be replaced by another, yet to be determined, board member.
Audit Committee task
The Audit Committee prepares the Supervisory Board’s decision-making and advises the board and the statutory directors on its findings in fields such as finance, internal risk management and control systems, risk analysis, applications of information and communications technology (ICT) and the activities and recommendations of the accountant.
four meetings
The Audit Committee met on four occasions during the reporting year. They took place one week prior to the regular Supervisory Board meetings in three cases and two weeks prior in one case. The general and financial directors were present at all meetings.
report and recommendations
The concept report of the Audit Committee was a fixed agenda item in the consequent meeting of
presented in Supervisory
the Supervisory Board. The board was also given recommendations on the decisions prepared by
Board meeting
the Audit Committee and to be taken by the Supervisory Board.
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agenda items
In the reporting year, the Audit Committee discussed, among other things, the quarterly results, the concepts of the accountant’s report, the annual report and financial statement 2014, the security policy (fixed item on the agenda), the annual plan 2016 (including budget and investments), the policy outline memorandum 2015-2020, the risk analysis, the tender for the new auditing accountant, the internal audit plan, tender procedures at RAI Amsterdam, the declaration regulations of the Supervisory Board and the strategy regarding acquisitions.
regular consultation with the financial director
The chair of the Audit Committee and the financial director met regularly during the reporting year to discuss the progress of various matters.
Remuneration Committee task
The task of the Remuneration Committee includes making proposals to the Supervisory Board and preparing accountability regarding the recommended remuneration policy and the actual remuneration of the members of the company’s statutory board.
advice on salaries, testing of
The most important topics treated by the Remuneration Committee in the reporting year were:
Supervisory Board remuneration, policy continuation
Independent advice on the salaries of the new director’s positions in 2016; Testing the market conformity of the remuneration of the members of the Supervisory Board; Continuation of the chosen policy towards company salaries which are more in line with the market.
Two physical meetings took place in 2015 to provide answers and recommendations to the important issues mentioned above. Any telephone discussions, consultations and scheduling required during Supervisory Board meetings also took place, and relevant subjects were frequently discussed with the Selection and Appointment Committee.
Selection and Appointment Committee task
The duties of the Selection and Appointment Committee include drawing up selection criteria and appointment procedures for members of the Supervisory and Executive Board, assessing the size and composition of the supervisory and statutory board of the company and making proposals on the profile of the Supervisory Board at least once a year, reviewing the functioning of individual Supervisory Board members and reporting to the Supervisory Board at least once a year, making suggestions for appointments, and supervising the policy of the Executive Board with regards to selection criteria and appointment procedures for senior management.
six meetings
The Selection and Appointment Committee met six times and has also taken part in various conference calls.
agenda items
In the reporting year, the Selection and Appointment Committee has looked into the future hierarchical structure of RAI Amsterdam, the profile of the Supervisory Board, the recruitment and selection of the fifth member of the Supervisory Board, and the recruitment and selection of the new statutory board.
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Supervisory board self-evaluation supervisory board evaluation postponed to 2016
In a closed consultation, all the members of the Supervisory Board jointly decided that a selfevaluation would have little value this year due to the fact that the composition of the board was changed by the appointment of new members in April and September. It was decided to carry out an evaluation with an external partner in 2016.
Continuous education no particular need for
The members of the Supervisory Board took part in various educational activities in the framework
additional education initiated
of their other supervisory functions. There was no specific need in the reporting year for a particular
by RAI Amsterdam
training or education initiated by RAI Amsterdam. Various familiarisation/introduction conversations were, however, organised within RAI Amsterdam for the benefit of the two new board members.
exhibition tours
In December 2013, the Supervisory Board expressed its intention to visit a business unit or an exhibition currently organised in the RAI Convention Centre at least once a year prior to a Supervisory Board meeting. For example, three exhibitions were visited in 2014, and a visit to Safety & Security Amsterdam (SSA) was scheduled for 2015. Unfortunately, the tour could not take place because more time was needed for dealing with the topics on the Supervisory Board’s agenda. The board definitely intends to visit an exhibition again in 2016, as this gives members a better feel for the products and services provided by RAI Amsterdam.
virtual developments
The Supervisory Board intends to schedule an extra meeting in 2016 on the topic of virtual developments so that the board can continue to provide strategic input on this important theme.
Annual report and financial statement 2015 considered at length in Audit Committee, discussed with Executive Board
Supervisory Board accepts financial statement and dividend payment of € 2.277 million.
The Audit Committee discussed at length the financial statement and annual report with the Executive Board and the external accountant BDO. The Supervisory Board then discussed the annual report with the Executive Board in the presence of the external accountant.
The Supervisory Board accepts the financial statement and agrees with the Executive Board’s proposal to pay a dividend of € 2.277 million including dividend tax over the reporting year, and add the remaining profit to ‘unappropriated profit’ under shareholder equity. The dividend was determined in accordance with the 2013-2018 dividend policy, determined at the General Meeting on 17 April 2014.
request to determine financial
The financial statement 2015 will be put to the general meeting of shareholders on 7 April 2016.
statement, request discharge
The Supervisory Board proposes that the Executive Board be given discharge for its management, that the Supervisory Board be given discharge for its supervision, and that the financial statement be approved.
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Compliments and words of thanks The Supervisory Board complements the employees and Executive Board of RAI Amsterdam on achieving the prestigious award for ‘Best International Venue (non-UK)’ for the third time since 2012 during the Exhibition News Awards Gala in London. The Exhibition News Awards are given out every year to companies that make a special contribution to the exhibition sector, and are seen as a landmark event by the industry. The award was given to the Business Development department of RAI Amsterdam.
After an extraordinarily successful year in 2014 in financial terms, RAI Amsterdam has also succeeded in closing 2015 with good financial results. We would like to extend our gratitude to clients and shareholders for their involvement and to the Executive Board, the management and the employees for their efforts over the past year.
Amsterdam, 17 March 2016
Supervisory board of RAI Holding B.V.
Roelf de Boer, chair John van der Steen, vice-chair Annemarie van Gaal Ferry Houterman Shulamith Rijxman
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#03
Executive Board report
28
Results in 2015 RAI Amsterdam had an operating profit of € 8.9 million on a turnover of € 126.2 million. After deducting interest costs and corporation tax, the net result in the financial year was € 4.2 million.
Turnover turnover increased by over 5 per cent
The turnover of RAI Amsterdam in 2015 increased by over 5 per cent to € 126.2 million (2014: € 119.7 million, 2013: € 116.6 million).
The turnover of RAI-organised exhibitions and events increased by € 9.4 million compared to the previous year. Letting to third parties fell by € 4.7 million. Parking turnover increased by € 1.4 million.
Key financial data Amounts x € 1 million
2015
2014
2013
2012
2011
126.2
119.7
116.6
134.7
133.6
22.7
27.9
22.4
22.8
26.3
operating results
8.9
13.7
7.1
6.0
7.8
net results
4.2
9.3
3.3
2.1
3.1
shareholder equity
86.7
84.7
77.7
76.4
76.3
balance sheet total
201.8
198.0
189.9
196.2
203.9
provisions
2.1
3.4
0.7
6.5
4.8
net investments in buildings, installations and
14.4
22.3
5.6
11.1
10.3
2015
2014
2013
2012
2011
7.1%
11.4%
6.1%
4.5%
5.8%
turnover EBITDA
inventory
Ratios
operating result in percentage of turnover senior Net Debt / EBITDA solvency
2.76
2.22
2.75
2.79
2.48
43.0%
42.8%
40.9%
38.9%
37.4%
2015
2014
2013
2012
2011
Turnover Amounts x € 1 million
RAI Amsterdam-organised events
56.9
47.5
39.3
52.5
53.6
letting to third parties
18.1
21.8
23.6
23.2
23.5
catering
15.5
15.1
17.8
16.9
18.1
0
0
0
3.2
4.0
trade journal publications other*
35.7
35.3
35.9
38.9
34.4
total
126.2
119.7
116.6
134.7
133.6
*includes, among other things, parking proceeds, hotel commissions and facility services
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Costs € 11.1 million increase in
The total operating costs in 2015 were € 117.2 million, an increase of € 11.1 million compared to
operational costs due to
the previous year. The costs for wages and salaries, social security and pension costs and other
outsourced work and other external costs
company expenses were reduced. The increase can be entirely contributed to the costs of outsourced work and other external costs. The cost increase is related to the specific composition of the event portfolio in 2015.
investments € 16.8 million
Over the past year RAI Amsterdam invested € 16.8 million in buildings, installations, inventory and work in progress. The investments in 2014 amounted to € 22.3 million. The investments in the financial year mainly concerned the completion of the Amtrium. The reporting year also saw the completion of a substantial multi-year investment programme in buildings that involved a total of €180 million over a period of 11 years.
cash flow from operational activities: € 19.7 million
The cash flow from operational activities amounted to € 19.7 million (2014: € 27.2 million). The cash flow from operational activities allowed RAI Amsterdam to invest € 17.6 million, with a mutation of the liquidities and bank credit of only € -2.5 million over the financial year.
slight drop in interest costs
The interest costs were slightly lower, reduced from € 3.4 million in 2014 to € 3.3 million in the reporting year. As in previous years, the agreed ratios with the bank were easily realised.
Result good operating result in
The operating results were € 8.9 million (2014: € 13.7 million, 2013: € 7.1 million). Taking into
historical perspective of
account the biennial event cycle, RAI Amsterdam achieved the best results in this financial year of
biennial event cycle
net profit € 4.2 million
all uneven years since 2007.
After deduction of the interest costs and taxes, the net profit was € 4.2 million compared to € 9.3 million in 2014 (without incidental fiscal benefit in 2014 of € 7.8 million).
International event days Over the past year RAI Amsterdam Convention Centre saw 207 event days with international events (in 2014: 298, in 2013: 271 and in 2011: 265 days).
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RAI AMSTERDAM STIMULATES CITY AND REGION
In addition to the results for RAI Amsterdam, our contribution to the economy in the Amsterdam region has also improved: one euro of added value for the RAI Amsterdam Convention Centre translates into seven euros for tourism and companies in the region. The impact of RAI Amsterdam increased partly due to the growth of international events, which generate more turnover for hotels, restaurants and transport than national events.
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Events RAI Amsterdam realised a total of 458 events in 2015, namely 54 exhibitions, 40 conferences and 364 other events. Nearly all events took place in the RAI Amsterdam Convention Centre; 10 exhibitions took place elsewhere.
RAI Exhibitions organised 23 exhibitions and one conference (RAI-organised events). Of these exhibitions, 13 took place in the RAI Amsterdam Convention Centre, one elsewhere in the Netherlands and nine outside of the Netherlands. The RAI-organised conference also took place in the RAI Amsterdam Convention Centre.
The other events in the RAI Amsterdam Convention Centre were organised by third parties.
Events organised by RAI Exhibitions The RAI Exhibitions division is responsible for the development and realisation of its own events. It organises around 25 national and international consumer and trade exhibitions in total, supported by a worldwide network of partners and agencies. Successful event formats based in Amsterdam are also duplicated abroad (as spin-offs), in partnership with sector and media partners. Around half of RAI Amsterdam’s turnover is derived from its own events. Through a clear focus on first-class events, along with its knowledge of markets and target groups, RAI Amsterdam has become global market leader in five sectors: water technology (Aquatech), traffic technology (Intertraffic), professional cleaning (ISSA/INTERCLEAN), the maritime sector (METSTRADE) and remanufacturing (ReMaTec).
2015 overview Within the category of international trade exhibitions (held in the RAI Amsterdam Convention Centre), ReMaTec performed largely as expected, while Aquatech, METSTRADE and the Super Yacht Pavilion in particular performed above expectations. Within the national exhibition category, the HISWA Boat Show and BedrijfsAutoRAI performed very well, and the Horecava and AutoRAI were also successful. The results of the SSA and Huishoudbeurs were somewhat disappointing, although the latter did recover to its previous level in 2016. Overall, the international spin-offs performed as expected. Two new spin-offs were launched in Mexico for 2016 (Aquatech and INTERCLEAN). The AutoRAI returned in 2015 and was successful in many ways. Nonetheless, there is insufficient support from the sector to organise the event in 2017. Based on research into the future of the HISWA Boat Show and HISWA in-water Boat Show, the HISWA Boat Show will continue independently in the RAI Amsterdam Convention Centre in the spring. Based on market developments and the strategy of RAI Exhibitions, RAI Amsterdam stopped being organiser of the trade exhibitions Building Holland and FietsVAK. The GreenTech Summit, a new initiative, was well received. All the RAI-organised exhibitions were expanded with an InnovationLAB, a platform that gives ideas, innovations and news a greater presence on the exhibition floor and online.
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Events organised by RAI Exhibitions in the Netherlands The following RAI-organised events took place in the Netherlands during 2015, all in the RAI Amsterdam Convention Centre except for the FietsVak, which was organised in Expo Haarlemmermeer in Vijfhuizen.
Events organised by RAI Exhibitions in the Netherlands All events took place in the RAI Amsterdam Convention Centre, except for the FietsVak which was organised in Expo Haarlemmermeer in Vijfhuizen.
4 international trade exhibitions
4 national consumer exhibitions
6 national trade exhibitions
1 international conference
Aquatech Amsterdam
AutoRAI
BedrijfsautoRAI
GreenTech Summit
METSTRADE
HISWA Boat Show
Building Holland
ReMaTec
Huishoudbeurs
Ethnic Foods Europe
Super Yacht Pavilion
Negenmaandenbeurs
FietsVAK
Horecava
SSA
International trade exhibitions Aquatech Amsterdam 25th anniversary Aquatech Amsterdam
The silver jubilee edition of Aquatech Amsterdam, the trade exhibition for process, drink and waste water technology, welcomed a record number of 856 exhibitors, 1,100 conference attendees and 18,411 visitors this year. Aquatech Amsterdam, which was part of the Amsterdam International Water Week for the third time, once again offered a comprehensive overview of the latest products and technologies, and abundant networking opportunities for professionals in the water industry or visitors looking for innovative solutions for water use in the production process.
new: Industrial User
New features this year were the ‘Industrial User Experience’, with presentations on technology and
Experience and Aquatech
innovation in the oil and gas industry by end users, and the Aquatech Venture Forum, a unique
Venture Forum
one-day session aimed at bringing together technological start-ups with potential investors and business partners.
METSTRADE and SuperYacht Pavilion METSTRADE and SuperYacht Pavilion continue to grow
METSTRADE (Marine Equipment Trade Show) is the world’s largest and best-attended trade exhibition for leisure marine equipment, materials and systems. The trade exhibition features three pavilions dedicated to specific fields, namely the SuperYacht Pavilion, the Marina & Yard Pavilion and the Construction Material Pavilion. This year METSTRADE welcomed a record number of exhibitors (1,378) and visitors (nearly 22,000). More visitors were decision-makers and they represented more unique companies than in 2014. There were also more international visitors, mainly from Australia, the US, Greece, Turkey, Italy and the UK. Both visitors and exhibitors gave the 2015 edition an approval rating of 8.4; the highest score ever achieved by a RAI-organised exhibition.
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ReMaTec ReMaTec sees strong exhibitor growth
ReMaTec, the largest and most important trade exhibition in the field of remanufacturing for the automotive, industry and heavy duty sectors, takes place every two years and is supported by the major trade associations APRA (Auto Parts Remanufacturers Association) and FIRM (International Association of Engine Rebuilders and Remanufacturers). The main visitor groups include automotive manufacturers, importers and revision companies and their suppliers. Approximately 3,500 visitors (78% of whom describe themselves as decision-makers) from 71 countries visited the 2015 edition. While visitor numbers were similar to the previous edition, the number of exhibitors rose by 27%.
National consumer exhibitions more visitors for consumer exhibitions
With regards to visitor numbers, the consumer exhibitions all performed better than their previous editions. The evaluations from visitors and exhibitors remained equally positive.
AutoRAI AutoRAI 2015 successful but discontinued in 2017
The AutoRAI 2015 featured over 500 cars, 100+ exhibitors and ten individual (indoor and outdoor) side events. AutoRAI 2015 attracted over 290,000 visitors; an 8% increase on the previous edition. The visitors gave the exhibition a 7.5 approval rating, half a point higher than the average for consumer exhibitions. The car brands gave the event an 8.0, a major improvement on the 7.1 of the previous edition. Research into the effectiveness of the exhibition for exhibitors showed that the exhibitors reached 95% of their goals. Unfortunately, the event will be discontinued in 2017.
HISWA anniversary edition of HISWA: clear recovery
The 60th edition of the HISWA Amsterdam Boat Show attracted 43,405 visitors (+17%). Compared to the previous edition there was not only an increase of visitors, but also exhibitors (+7%), while the number of exhibited boats also grew by 13%. The growing consumer confidence was clearly felt on the exhibition floor, with a greater willingness to purchase among visitors. A survey among HISWA visitors indicated that 51% bought/ordered something or requested a quote during the event.
HISWA remains independent in the RAI
At the request of the sector, a study was performed into the feasibility of merging the HISWA Amsterdam Boat Show and the HISWA in-water Boat Show (organised by HMM Exhibitions BV). Based on the findings, it was decided to continue the HISWA Amsterdam Boat Show independently (for now) in the RAI Amsterdam Convention Centre in the spring of 2016.
Update: the latest edition in March 2016 facilitated around 800,000 meetings. The show attracted 40,500 visitors and some 300 exhibitors. The demand for offers and trial sails was much greater than the previous year.
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Huishoudbeurs and Negenmaandenbeurs growing visitor numbers
The 70th edition of the Huishoudbeurs and 30th edition of the Negenmaandenbeurs (exhibition for new and expectant parents) were held in February 2015. The fall in visitor numbers seen last year was fully recovered in this jubilee edition. Supplemented by the Asia Pasar Malam Festival, which offered visitors oriental food, fashion music, dance and a market, this year’s Huishoudbeurs attracted nearly 244,000 people. The average visitor spent 120 euros per person at the Huishoudbeurs; 20% more than at the previous edition.
Update: the Huishoudbeurs and Negenmaandenbeurs 2016 edition took place in February 2016. The 71st edition of the Huishoudbeurs was very well attended by younger Dutch visitors; the lifestyle event for Dutch women saw an increase of 6% in this age category compared to 2015. This year’s theme was Welcome to the Future, and featured a wealth of innovations in the field of housekeeping and shopping. Together the two events welcomed 250,000 visitors.
National trade exhibitions BedrijfsautoRAI successful BedrijfsautoRAI
The 31st edition of the BedrijfsautoRAI clearly showed that the road transport and logistics services sector is recovering. The enthusiasm for trucks, trailers, vans and telecommunication products was evident in RAI Amsterdam. The event was visited by 55,268 professionals; an increase of over 18% compared to the previous edition in 2012. In addition to a plethora of new products, visitors also gained a lot of practical knowledge in the InnovationLAB, the EVO Theatre and the TLN Theatre. Both visitors and exhibitors gave the exhibition an approval rating of 7.6.
Building Holland Building Holland: 24% more visitors
Building Holland is the integrated event for the building sector in the Netherlands, bringing together all links in the chain to share knowledge, concept development and cooperation among architects, contractors, installers, housing associations, real estate developers, consultants and suppliers. The 2015 edition saw an impressive 24% increase in visitors compared to the first edition of the event.
Duurzaam Gebouwd takes over Building Holland
Over the past two years, knowledge platform Duurzaam Gebouwd and exhibition organiser RAI Amsterdam have successfully transformed Building Holland trade exhibition into the integrated knowledge and networking event for the building sector. To facilitate further growth, the partners decided to extend the cooperation in a new form. In the future Duurzaam Gebouwd will take over the full organisation of Building Holland, with RAI Amsterdam acting as facilitating partner.
FietsVAK/ National (E-)Bike Test Days FietsVAK discontinued
The National (E-)Bike Test Days (focused on consumers) and the associated FietsVak day (aimed primarily at dealers) took place in Expo Haarlemmermeer in Vijfhuizen from 28 February to 1 March 2015. With this new bicycle event, RAI Amsterdam responded to requests from the bicycle sector for direct contact with consumers and the increasing demand for e-bikes. Despite a dynamic first edition of the consumer event, an evaluation made clear that the visitor numbers and needs of the small and large bicycle brands and suppliers of parts & accessories are too diverse to continue the current concept.
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Horecava leading platform in hospitality sector
The 59th edition of the Horecava, the trade exhibition for hospitality and food service professionals, offered its visitors (and 536 exhibitors) a versatile programme full of inspiration for meeting the latest consumer demands. There was a clear focus on the fresh experience and the culinary trade at the FRESH & PURE pavilion. While the visitor numbers were stable, the number of visiting companies increased by 8%. In total the event attracted 55,570 hospitality and food service professionals (including 78% decision-makers) from 35,723 companies. In addition to a wide range of innovations and premiers, Horecava also provided a broad platform for high-quality knowledge transfer.
Expansion Horecava with Ethnic Foods Europe
The RAI Elicium was once again the setting for the international trade exhibition Ethnic Foods Europe (EFE). The event offers an extensive range in the field of Asian, Arab, Chinese, Indonesian, North African and other authentic cuisines.
Update: the Horecava took place again in January 2016. The 600+ participating companies in the 60th edition of the event indicated a trend of exciting developments and innovation in the sector. The four days of the event saw some 1.5 million meetings between the 63,000 hospitality and food service professionals in attendance.
Safety and Security Amsterdam considerable fall in visitor numbers at SSA
The biennial trade exhibition Safety & Security Amsterdam (SSA) is market leader in security and (fire) safety in the Benelux region. During the fifth edition of SSA, RAI Amsterdam again served as a meeting platform for installers, system integrators, distributors, consultants, security managers, end users and representatives from the public sector (including the police, fire brigade and government authorities). In total the 2015 edition attracted some 7,200 professionals, a 10% reduction on the previous edition.
International conference GreenTech Summit first GreenTech Summit well received
Speakers and conference participants from 34 countries came together in the RAI on Tuesday 9 June 2015 for the first ever invitation-only GreenTech Summit. Exclusively for decision-makers and influencers in horticulture, the GreenTech Summit was organised by RAI Exhibitions and focused on the theme: ‘The next step for Green Horticulture'. Like the exhibition, the Summit was organised in close collaboration with AVAG and Fedecom. The new initiative was well received by the 256 invitees.
GreenTech Summit online
In addition to the invitees, specific programme elements were also attended by some 400 interested people via an online connection which enabled them to join the discussions via twitter and chats.
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Events organised abroad by RAI Exhibitions spin-offs in 2015
RAI Exhibitions was the (co-)organiser of nine international trade exhibitions on foreign soil in 2015. Seven were spin-offs from exhibitions also held at the RAI Amsterdam Convention Centre. The remaining trade exhibitions (FlowEx China and WaterEx Beijing) are associated with the spin-off Aquatech China. The four titles with a spin-off abroad in 2015 were Aquatech, Intertraffic, ISSA/ INTERCLEAN and ReMaTec.
These exhibitions attracted a total of over 83,000 visitors. Aquatech China is the most important
Aquatech China largest spin-
spin-off in terms of visitor numbers and results, with the 2015 exhibition welcoming 38,743 visitors
off
and 904 exhibitors.
end of exhibitions in India and
The enhancement of the international strategy of RAI Exhibitions, with a focus on China, Turkey,
Poland
Mexico and the USA, meant the end of the partnerships in India and Poland in 2015 after close consultation.
In 2016 two new spin-offs will be launched in Mexico (Aquatech and Intertraffic).
2 new spin-offs in Mexico
Events organised abroad by RAI Exhibitions
Aquatech
Intertraffic
ISSA/INTERCLEAN
ReMaTec
China
China
Mexico
USA
USA
Turkey
Polan
InnovationLAB Innovation is one of the top three reasons why people visit an exhibition. To address this demand, RAI Amsterdam developed the InnovationLAB; a place where ideas, innovations and news become visible on the exhibition floor and online.
After successful try-outs at three exhibitions in 2014, the RAI Amsterdam InnovationLAB was officially launched on Wednesday 11 March 2015 in the presence of external partners TNO, 3TU Federatie and Accenture Innovation Awards. It gives innovations a clear and prominent place in all the exhibition titles of RAI Amsterdam within an inspiring setting where exhibitors and visitors can share their knowledge and experiences in the field of innovation.
A rich and interesting platform such as the InnovationLAB enables RAI Amsterdam to stimulate exhibitors to make their innovations more visible during exhibitions. It also offers knowledge centres, research institutes and innovation parties a platform to bring their innovations to the market and enrich exhibitions at RAI Amsterdam. The InnovationLAB is a platform where visitors (online and physically) can see and experience the innovations in their market. It also gives exhibitions the chance to distinguish and market themselves via innovation. The InnovationLAB is a generic concept that can be customised to every exhibition. An impression of the InnovationLAB is available on YouTube (https://youtu.be/-eCmSBCv0Wg).
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Third-party events In addition to its own exhibition titles, RAI Amsterdam facilitates a growing number of national and international exhibitions, conferences, corporate events and other events organised by third parties. The multifunctional conference centre is also let out as the RAI Theatre for stage productions.
Division of conferences and exhibitions organised by third parties The conferences and exhibitions organised by third parties in the RAI Amsterdam Convention Centre can be divided as follows:
International conferences organised by third parties 27 international conferences
In the year under review, RAI Amsterdam Convention Centre hosted 27 international conferences organised by third parties, including eight medical conferences. Visitor numbers varied greatly, from low to very high with over 23,000 visitors. The largest conferences were in the medical field: the conference of the European Respiratory Society (ERS) and the conference of the European College of Neuropsychopharmacology (ECNP).
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25th Annual Congress of the European Respiratory Society (ERS) From Saturday 26 to Wednesday 30 September, clean lungs were the talk of Amsterdam as the RAI hosted the European Respiratory Society (ERS) Congress. Focused on combating pulmonary diseases and welcoming over 23,000 visitors and 180 exhibitors to the conference, a public event on the subject took place in the centre of Amsterdam at the same time.
public event in Amsterdam
To increase knowledge of the development and prevention of pulmonary diseases, the ERS placed information stands with a variety of measuring equipment on the Beursplein in Amsterdam. The event was also made visible throughout the city and made a lasting impression on visitors and residents alike. Custom-developed cycling and walking routes in the city centre contributed to the awareness and prevention of pulmonary diseases, and allowed RAI Amsterdam and Amsterdam Marketing to involve the city and its residents in the conference in a unique way.
28th Congress of the European College of Neuropsychopharmacology (ECNP) ECNP aims to stimulate understanding of brain function and human behaviour and translate this into better treatment methods and public health. The annual ECNP Congress was visited by over 5,000 neuroscientists and clinical practitioners who exchanged research results and ideas in the field of neuropsychopharmacology.
National conferences organised by third parties Twelve national conferences were organised by third parties in RAI Amsterdam during 2015, attracting a total of 13,000 visitors. Four of these conferences welcomed over 1,000 participants.
International trade exhibitions organised by third parties main international trade exhibitions
Below is an overview of the main recurring international trade exhibitions organised by third parties with regard to turnover, along with the number of exhibitors and visitors:
IBC (International Broadcasting Convention) IBC: largest and most important event for professionals in digital media, television and radio
IBC, the International Broadcasting Convention, is still the largest and most important annual event for professionals in electronic media, television and radio. Every year it showcases the latest equipment from around the world. The 2015 event attracted 55,128 visitors, over 250 speakers and more than 1,600 exhibitors to the RAI Amsterdam Convention Centre.
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ISE (Integrated Systems Europe) ISE for the professional audiovisual market: 54,684 visitors
ISE, Integrated Systems Europe, the international trade event for the professional audio-visual market, attracted a record number of 54,684 visitors and 1,056 exhibitors to all the halls of the RAI Amsterdam Convention Centre in 2015. As visitor numbers are expected to continue to grow in the years ahead, the British organiser has decided to extend the event to four days as of 2016.
PLMA (Private Label Manufacturers Association) World of Private Label International Tradeshow
Every year, the PLMA (Private Label Manufacturers Association) organises the World of Private Label International Tradeshow in RAI Amsterdam Convention Centre. For the 30th edition in 2015, all halls were filled with approximately 4,200 exhibitors from over 70 countries with 56 national and regional pavilions. PLMA Amsterdam is the leading international trade exhibition for manufacturers and retailers of private label products, and the 2015 edition welcomed over 12,000 visitors.
PROVADA PROVADA, for professionals in real estate
PROVADA is the annual meeting point for the real estate sector. The three-day event brings together developers, investors, consultants, retailers, financers, housing corporations, end users and municipalities in a professional setting. PROVADA has developed into one of Europe’s largest real estate events and a fixed item on the Dutch real estate agenda. The 2015 event welcomed 22,166 visitors (an increase of 9% compared to the previous edition) and 247 standholders.
Be the mayor of the world’s most compact metropolis In 2015 RAI Amsterdam rolled out a marketing campaign specifically aimed at organisers of major international exhibitions, conferences and other events. The campaign explains how the organisers can become ‘mayor of Amsterdam’ for a few days.
The website www.rai.nl/mayor offers organisers insights into the various possibilities via an interactive mayor’s chain. Each link represents a key element that the RAI offers to help organisers make their event successful: the Netherlands, Amsterdam, accessibility, knowledge & network, ROI, a flexible configuration, services, meaningful experiences, innovation and sustainability.
The first mayor’s chain was presented to Mike Blackman, Managing Director of ISE in 2015, followed by organisers of other major recurring events in RAI Amsterdam.
National trade exhibitions organised by third parties 40
National trade exhibitions organised by third parties fashion trade exhibitions
Of the national trade exhibitions, two events stand out with regard to exhibitors and visitors. The
Modefabriek and Kleine
fashion exhibitions Modefabriek and Kleine Fabriek each provide a half-yearly professional platform
Fabriek
where hundreds of brands and labels present their latest collections to the retail sector, media, stylists and other fashion professionals.
Modefabriek and Kleine Fabriek (which focuses on children’s fashion) are only accessible to registered exhibition visitors including retailers, wholesalers, suppliers, brands, labels and agencies.
National consumer exhibitions organised by third parties The two largest national consumer exhibitions organised by third parties in 2015 are the 'vt wonen&design beurs' (previously known as Woonbeurs Amsterdam) and PAN Amsterdam.
vt wonen&design beurs over 14% rise in visitors
The vt wonen&design beurs was the 2015 platform for over 250 brands and designers to present their latest collections and premiers to Dutch consumers. With over 79,000 visitors (over six days) the 2015 event attracted 10,000 more visitors than the previous year. There was considerable interest in solutions for renovations and changes in the home, and thousands of visitors took a bespoke exhibition route developed specifically for them. All the available options for personal living advice were booked solid.
PAN Amsterdam 46,500 visitors for 29th edition PAN Amsterdam
PAN Amsterdam is the contemporary exhibition for art, antiques and design. This year saw 46,500 art enthusiasts be inspired and amazed by the many thousands of artworks. Each object was evaluated in advance by independent experts with regard to quality, authenticity and condition, giving the visitors sufficient confidence to purchase. Nearly 60% of the exhibiting dealers and gallery owners at PAN Amsterdam indicated better sales figures than the previous year, while a third indicated much better results.
Other events organised by third parties 327,000 visitors
The total number of visitors to other events organised by third parties has been growing for years, and the average number of visitors has also increased annually. The various events in 2015 attracted a total of some 327,000 visitors.
Jumping Amsterdam: annual
Jumping Amsterdam in RAI Amsterdam revolves around top sport, entertainment and Amsterdam.
equestrian event
From 29 January to 1 February 2015 the city hosted the 56th edition of this world-leading event for dressage and jumping as part of a superb equestrian programme representing a range of disciplines at various levels. In addition to sport, visitors enjoyed a full show and entertainment programme inside and outside the ring, delicious food and drinks and typical Amsterdam entertainment with artists such as Peter Beense and ‘GENTS’ in Café Bolle Jan.
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dance events
The RAI Amsterdam Convention Centre accommodates various major dance events every year. In celebration of King’s Day, our premises accommodated the second edition of Kingsland Festival with four stages and an impressive line-up including names such as Martin Garrix, Hardwell and Fedde le Grand.
The Amsterdam Dance Event (ADE) enjoyed substantial growth in 2015 with the launch of the first indoor festival with an international character. On Saturday 17 October, RAI Amsterdam was the location for the brand-new PRJCT Music Festival concept. As each genre in electronic dance music has its own culture, fans and music, PRJCT Music Festival aimed to bring these cultures together at one festival with four stages featuring four different genres of dance music and the associated artists.
The fourth edition of the Valhalla Festival also took place in 2015, featuring a labyrinth of musical styles on no fewer than seven stages. The theme of the event was Cirque Orientale, and the classic circus acts associated with Valhalla were performed by the Chinese National Circus as part of its European tour.
first indoor food truck festival
Outdoor food festivals with food trucks are becoming more popular every year due to their pleasant atmosphere. The RAI Amsterdam Convention Centre accommodated the first indoor food truck festival in November. Food Festival Amsterdam delighted culinary enthusiasts as the Europa Hall was filled with 76 food trucks and various pop-up restaurants. After the success of the first edition, visited by over 40,000 people, it is no surprise that the second edition returned to the RAI agenda for the Easter weekend in March 2016.
kickboxing gala
Partly due to the efforts of the City of Amsterdam, kickboxing celebrated its comeback in the Netherlands on Friday 4 December with the first major kickboxing gala in RAI Amsterdam after a hiatus of five years. With 7,300 attendees, the event was fully sold out. The tournaments had been banned for many years due to the poor image of the sport. Thanks to new government guidelines, this type of event is now possible once again. Extra measures were taken during this specific event, which included not serving any alcohol, a measure proposed by GLORY, the world’s largest kickboxing association.
RAI Theatre 40,000 visitors
The Auditorium, the large hall in RAI Amsterdam Conference Centre, can easily be converted into the RAI Theatre, an attractive venue with 1,750 seats and the latest audio-visual technology. In 2015 the theatre accommodated a total of 39 shows (for nine different productions) which attracted 40,000 visitors. The opera Porgy & Bess (10,600 visitors) and the ballet Swan Lake performed by the Shanghai Ballet (8,670 visitors) were the most popular.
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New in 2016 one-off events in 2016
In addition to the periodically returning exhibitions and conferences, RAI Amsterdam will be accommodating the following one-off events in 2016:
One off's in 2016 Organiser
event
(inter)national
industry
FESPA Digital 2016
exhibition
international
print / media
European Breast Cancer Conference 2016
conference
international
medical
ECCO Congress 2016
conference
international
medical
Skills Heroes the Finals 2016
exhibition
national
education
World Congress on Osteoarthritis 2016 - OARSI
conference
international
medical
ECCMID 2016
conference
international
medical
APEX 2016 MultiMedia Market
conference
international
multimedia
International Child Neurology Congress 2016 (ICNC)
conference
international
medical
Euthanasia 2016
conference
international
medical
GRI Global Conference on Sustainability and Reporting 2016
conference
international
csr
8th World Conf. of the IPCRG 2016
conference
international
medical
Critical Communication World 2016
conference
international
communications
24th Biomass Conference and Exhibition
conference
international
csr
Free From Food 2016
exhibition
international
food
Congress of EAES a/o interventional techniques
conference
international
medical
EFTTEX 2016
exhibition
international
leisure
IND2016
conference
international
Maritime Systems and Technology (MAST)
exhibition
international
maritime
Additive Manufacturing Europe 2016
exhibition
international
print / media
Future of Events 2016
exhibition
international
events
Comic Con Amsterdam 2016
exhibition
national
media
AVIATION WEEK MRO EUROPE 2016
exhibition
international
aviation
ORION - Conference for Nurses 2016
conference
international
medical
EMCCC 2016
conference
international
medical
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Services RAI Amsterdam offers dedicated services to organisers, exhibitors and visitors.
Organiser Services RAI Amsterdam provides know how and dedicated services which ensure that organisers’ events go as smoothly as possible. Our specialists provide advice and support to organisers on setting up the exhibition floor and preparing for their event. Expertise and networking are deployed to allow the opportunities provided by the Netherlands, the city of Amsterdam and RAI Amsterdam to be optimised and facilitate a successful event. Furthermore, solutions are offered in the field of ICT, registration, logistics, audio-visual and media. We work with clients to help them achieve the best possible ROI. Thanks to our unique partnership with the City of Amsterdam, the RAI has made major steps forward in the efficiency of our licensing procedures. RAI Amsterdam was the first private company in the Netherlands to be allowed to regulate and enforce various event-related licenses, which has simplified and accelerated the license procedures.
Exhibitor Services RAI Amsterdam Exhibitor Services supports exhibitors in their preparations to make their participation a success. They can order products and services for their stands via a special Webshop, including ready-to-exhibit stands, hostess services, furniture, catering, flowers & plants, telecommunication & ICT facilities, parking tickets, and stand cleaning. Exhibitor Services put lots of time and effort into developing a concept for ready-to-exhibit stands (system construction and wood construction) in 2014. There are now contracts in place for ready-to-exhibit stands at RAIorganised events with two preferred suppliers. A new stand design was launched for the SuperYacht Pavilion this year, which generated a stylish look that made it easy to distinguish from the METSTRADE stands.
Visitor Services RAI Amsterdam Visitor Services facilitates services to visitors and makes their experience as agreeable as possible. This includes things such as arranging accommodation and transport, ensuring a warm welcome at the RAI Convention Centre (courtesy lounge, help desk, work and meeting places, etc.), visitor catering and parking.
new solution: Samsung Connect
RAI guests have a strong preference for places where they can rest, meet and work on the exhibition floor. This demand has been translated by RAI Amsterdam and its strategic partner Samsung into a new solution: Samsung Connect. This is a clearly recognisable, centrally located working and meeting place on the floor, provided with plenty of seats, networking spots and charging points for laptops, tablets and mobile phones. Guests can also use the event Wi-Fi connection. The facility is available for all RAI-organised events in RAI Amsterdam and also offered as a solution for third-party events.
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Catering catering: self-catered or in
Catering is an important pillar of all RAI Amsterdam events and we work both independently and in
partnership with specialist
partnership with specialist third parties. RAI Amsterdam remains responsible for quality control in
third parties
five restaurants
all cases.
There are five restaurants within the RAI Amsterdam Convention Centre: THE ROAST ROOM, Grand Café, First Floor Restaurant, Holland Restaurant and Café Amsterdam. THE ROAST ROOM is open daily from 09.00. The Grand Café, First Floor Restaurant, Holland Restaurant and Café Amsterdam are opened when required for an event or conference. The opening hours are flexible during events and conventions. In addition, each complex offers various catering outlets during exhibitions and conferences. This includes Juices and More, La Place and Mamasia.
new in RAI Amtrium: THE
THE ROAST ROOM is Amsterdam’s unique new meat experience. Surrounded by traditional
ROAST ROOM
craftsmanship, open kitchens equipped with Beech ovens and a rugged but classical interior, guests can enjoy the best steaks, burgers, meat cuts and sausages from the restaurant’s own butcher. THE ROAST ROOM consists of THE ROAST BAR, a brasserie-style restaurant on the ground floor, and the ROTISSERIE, a fine-dining restaurant on the first floor. THE ROAST ROOM was named the best meat restaurant in the Netherlands by the Restaurant Awards in February 2016.
Heart-warming Amsterdam
With the ‘Heart-warming Amsterdam’ concept for its kitchens, RAI Amsterdam made a deliberate choice to work with regional products and remove vulnerable ingredients from its range. Where possible, the products have an added value for the region or society in general. Care farms for outings or education, small local farms, urban greenhouses and dairy farms in the region are seen both as suppliers and an important source of inspiration. This supports local producers, while offering the possibility to enjoy rare products grown in the region and dependent on the season.
Hotel Service 166,000 overnight stays booked in 2015
The ability to attract large international events to Amsterdam is strongly dependent on the availability of sufficient hotel rooms at attractive prices set long in advance. The increase in the number of rooms available in recent years to 36,000, along with good cooperation with hotels and Amsterdam Schiphol Airport, places RAI Amsterdam in a much better position to meet this requirement from international organisers.
RAI Hotel & Travel Service is the largest accommodation intermediary in Amsterdam and the surrounding region, and takes care of hotel reservations as well as additional services, such as car rental, transfers, excursions and booking flights to and from Amsterdam for visitors of (mostly international) events. The number of overnight stays booked by RAI Hotel & Travel Service remained strong in 2015 at 41,940 processed bookings, representing 166,448 overnight stays.
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I Amsterdam approved
RAI Hotel & Travel Service only works with hotels that have the ‘I Amsterdam approved’ quality label. This is granted by Amsterdam Marketing to hotels that agree to reserve a minimum of 65% of available rooms at a fixed rate for organisers, visitors and exhibitors of large international conferences and exhibitions. The arrangement ensures a supply of 16,000 rooms at the best available rates.
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"The of an onrepresents of a longof RAI 48
construction site hotel the fulfilment held ambition Amsterdam� The onsite hotel (to be delivered in 2019) will function as the headquarter hotel for large, international multi-day events. Moreover, with its 650 rooms, it will immediately be the largest hotel in the Benelux region. The iconic design by OMA (the bureau founded by Rem Koolhaas) will ensure that the nhow RAI Amsterdam hotel becomes a landmark feature of the Zuidas district.
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Facilities RAI Amsterdam’s strategy is aimed at the intensive and flexible use of RAI Amsterdam’s 23-hectare premises in order to create as many square metres of lettable space as possible. We offer the following facilities in our Convention Centre:
Facilities RAI Amsterdam Convention Centre Property
Facilities
Total surface
108.500 m2
Convention centres
4
Halls
11 connected halls, 2 additional semi-permanent halls
Rooms
2 auditoria, 1 large ballroom with 2,000 seats. 69 convention and meeting rooms. Space for 10 to 10,000 persons
Foyers and lounges
multifunctional spaces for expositions, parties and events
Entrances
9 separate entrances: 1 dedicated entrance for every event
Restaurants and bars
9 restaurants, bars and lounges, from buffet to à la carte
Parking garages
capacity of 3,000 places (4,000 from August 2016) on the RAI premises
Harbour
dedicated marina with direct connection to Amsterdam’s canals
Train and metro stations
especially the Amsterdam RAI station, immediately adjacent to the Convention Centre
Real estate projects The ‘RAI Spatial Future Vision’ report stipulated that RAI Amsterdam could expand at its present location to include the following high-value additions: the RAI Amtrium (opened in June 2015), an extra multifunctional parking garage (open in August 2016) and the on-site RAI Hotel (opening in 2018/2019). RAI Amsterdam’s future vision focuses on sustainable development, the strengthening of its relationship with the adjacent Zuidas business district, the reinforcement of RAI Amsterdam’s international position and optimising the use of the RAI complex.
Amtrium Amtrium: new multifunctional building complex
RAI Amsterdam’s independently developed high-value, innovative, sustainable and multifunctional new Amtrium building was taken into use in 2015. Mels Crouwel of Benthem Crouwel Architects was responsible for the design of this third-generation venue with multifunctional exhibition, conference and office functions.
dynamic combined lettable space
There is a growing demand for locations in which conference options can be flexibly combined with, for example, an exhibition and/or a number of meeting rooms for breakout sessions or product presentations (dynamic combined lettable space concept). The Amtrium meets this demand by offering a fully functional conference centre with a reception lounge, conference halls (including a 520 m² hall, which can be split into two equally sized halls) and breakout rooms on the first floor. The second floor is ideal for uses such as small exhibitions, product presentations, poster sessions, receptions and dinners. The new building also provides a fully-fledged entrance to exhibition halls 4 and 5. Moreover, there is a company restaurant on the second floor, which can also serve a commercial function during events and includes the quality restaurant THE ROAST ROOM.
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sustainable technologies
The most sustainable technologies have been applied during the development of the Amtrium. Blinds have been attached to the building’s exterior using special ribs, thermal energy storage has been installed, and solar panels have been fitted on the roof. The most eye-catching element of the Amtrium is its vertical greenhouse for urban farming.
Vertical greenhouse for urban farming A crucial component of the Amtrium is the vertical greenhouse, which spans five floors and provides space to grow vegetables, herbs and edible flowers for RAI Amsterdam’s restaurants and THE ROAST ROOM. Products from the greenhouse are used in the restaurants on a daily basis.
The vertical greenhouse functions as the green lung of the Amtrium and serves an important climate control function within the complex by means of controlled air circulation in combination with thermal energy storage. It features an automated and fully computer-controlled watering process by means of a drip system, which uses rainwater supplemented by mains water for the irrigation.
The vertical greenhouse represents a space-saving way to grow crops and is a benchmark for this type of urban setting. RAI Amsterdam aims to inspire and this project showcases our dedication to well-being and the environment in a big city setting.
The vertical greenhouse for urban farming was declared the winner of the Vernufteling 2015 award on 18 March 2015 by the renowned Dutch businessman and former politician, Ed Nijpels. Vernufteling (based on the Dutch word for common sense) is an initiative of the Royal Netherlands Society of Engineers (KIVI) and the trade association NLingenieurs. The jury was particularly impressed by the innovative approach to urban planning in the 21st century and the way that RAI Amsterdam’s brings to life hitherto abstract concepts.
Have a look at the vertical greenhouse on YouTube (https://youtu.be/ZPAE-z9bqiE).
BREEAM-NL (Excellent)
The Amtrium is the first conference centre in the Netherlands to fully comply with the most stringent sustainability standard: the 4-star BREEAM-NL New Building Design Certificate (Excellent). This is the highest possible standard of sustainability recognised by the Dutch Green Building Council.
The RAI Association moved into the Amtrium as a tenant on 1 April 2015. RAI Exhibitions is also housed in the multifunctional building.
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Multifunctional parking garage multifunctional aboveground parking garage with 1,000 parking places
Due to the expansion of the Zuidas business district over the past decade, a number of parking places around the RAI complex have bene lost. This is why RAI Amsterdam is building a new parking garage with 1,000 parking places. Like the Amtrium, the new, sustainable and multifunctional parking garage is designed by Mels Crouwel of Benthem Crouwel Architects. The initial sketches show a streamlined, rectangular structure with the upper-storey access points on the exterior as the most eye-catching architectonic elements. The RAI parking garage will be situated on the motorway side of the RAI, between Halls 8 and 10. The additional 1,000 parking places will increase the total capacity of the RAI’s own premises to 4,000. This concentration will strengthen the position of RAI Amsterdam by increasing customer satisfaction, streamlining circulation and reducing parking in the surrounding areas. The building will be taken into use in August 2016.
multifunctional building: extra parking capacity, extension hall, extra buffer space for trucks
Another unique feature is the multifunctional first floor, which has a ceiling high enough to double as an exhibition space (extension hall). With a surface area of 2,800 m², it will enhance the exhibition capacity of the adjacent exhibition halls. Thanks to its height it can also be used as a buffer space for large cargo transport during the setup and breakdown of events. It has also been decided that the ceiling of the other parking decks will be 3.60 metres high to allow for the parking of vans and small trucks. This height will allow the parking building to be used for alternative purposes such as office space in the (very) long-term future, fitting neatly into the framework of the circular economy.
P+R facilities
RAI Amsterdam has served as a P+R function since January 2014, supporting the city in its aim to optimise traffic flows in and around Amsterdam. As of 2017 the North/South metro line will be taken into use, making the RAI Amsterdam car parks even more attractive. The multifunctional parking building therefore also contributes to sustainability in the city of Amsterdam. The P+R facility will not be available on or around dates that RAI Amsterdam is organising or facilitating events, however.
On-site hotel hotel in triangle between RAI complex, Europaboulevard and A10 motorway
RAI Amsterdam has long expressed a desire to build a four-star hotel on its own premises in order to accommodate conference participants and exhibition visitors. The Future Vision report expressed a preference for a location in the triangle between the RAI complex, Europaboulevard and the A10 ring road. This location is extremely favourable due to its proximity to the RAI Amsterdam train station (including a fast connection to Schiphol Airport), the metro stations and the exit/access to the A10. A hotel on this site with 650 rooms and parking facilities for 234 cars will be a strategic addition to the core activities of RAI Amsterdam. Addressing the demand from the market, in which organisers of events and the main exhibitors, speakers and visitors stay at the same nearby hotel (‘headquarter hotel’), will further strengthen the international position of RAI Amsterdam.
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nhow RAI Amsterdam Hotel
In June 2014, the City of Amsterdam and RAI Amsterdam published a tender for the development, construction and operation of a ‘headquarter hotel’ near the RAI. No fewer than 11 consortia responded, and the quality of the proposals was exceptionally high across the board. The winning concept, by the agency OMA (founded by Rem Koolhaas), developers COD and the NH Hotel Group, stood out thanks to its iconic design and addition of unique facilities, such as a television studio, a gallery, a statue garden, spa, restaurant and bar. The inspiration for the new hotel came from the landmark advertisement mast on the square in front of the RAI Amsterdam Convention Centre, ‘het Signaal’. With 650 rooms, nhow RAI Amsterdam will be the largest hotel in the Benelux. Construction on the 91-metre building is planned to start in the autumn of 2016.
For an artist’s impression of the nhow RAI Amsterdam Hotel, see: https://youtu.be/IVPQYnmwSnQ.
Investments and projects in 2015 € 6.5 million in investments
Around € 5 million was invested in buildings (excluding the new Amtrium and multifunctional parking garage), installations, inventory and grounds during 2015. Of this, € 1.85 million involved the completion of investments which had been decided upon earlier. The new investments in the RAI complex can be divided into health & safety (circa.12%), maintenance (39%), renovation (41%) and quality (8%). In addition, € 1.5 million was invested in ICT.
completion of investment programme targeting qualitative improvement
The multi-year investment programme targeting the qualitative improvement of RAI Amsterdam is almost complete. Over more than a decade, € 180 million was invested to ensure that the entire RAI Amsterdam Convention Centre would be technically and qualitatively state-of-the-art. In addition to quality improvements, these investments have also led to structurally lower maintenance costs. There will be continuous investments in quality and safety in the RAI complex in the future, on the basis of a dynamic continuous maintenance plan (dynamisch voortschrijdend meerjaren onderhoudsplan, MJOP).
cooling installation from gas to electricity
A major investment in the cost savings/CSR category initiated in 2014 involved the centralisation of the cooling installations in which absorption cooling using gas was replaced by centrifugal cooling with electricity. This made the cooling process ten times more efficient. The installation of these cooling systems substantially reduced gas consumption and the CO2 footprint of RAI Amsterdam. It did, however, result in a minimal increase in (green) electricity consumption. The first small cooling system (750 kWh) and a loop pipeline were installed in 2014. Two new larger cooling systems (4.5 mWh each) were installed and an existing electrical cooling (500 kWh) was taken back into use in 2015. All decentralised cooling systems will be removed. Locations that require cooling will be connected to the new distribution cooling network for the entire RAI complex.
emergency generators
A second major investment involved the centralisation of the emergency power supply. The
replaced: integrated solution
installations were replaced because the seven existing emergency generators had practically
with higher capacity
reached the end of their lifespan, and an expansion was needed due to the completion of the Amtrium. A central emergency system was installed, consisting of one large emergency generator linked to a cogeneration system and a smaller generator. This new solution enables RAI Amsterdam to generate power so that critical building functions and RAI Amsterdam’s offices can
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always continue to work, and even allows small events to have their entire energy needs met (medium-sized events can be supplied with part of their needs). Furthermore, the emergency power supply returns electricity to the grid during peak periods.
green investments
In January 2014 1,632 solar panels fitted on the roof of Hall 8 were taken into use. These solar panels have a total installed capacity of 399,840 Watt peak (Wp), which equals around 360,000 kilowatt hours and a CO2 reduction of approximately 150 tonnes. Some 173 solar panels were installed on the Amtrium in 2015. They have an output of 43,000 kWh a year and represent an annual CO2 reduction of 16 to 24 tonnes. This brings the total number of solar panels on the RAI Convention Centre to 1,805.
CO2 emissions halved thanks
RAI Amsterdam took a major step in terms of sustainability at the end of 2015 by expanding its
to connection to district
connection to district heating. While the RAI formerly used both gas and waste heat for heating the
heating
halls, it has now switched virtually exclusively to environmentally friendly waste heat from the Nuon power plant in Diemen. The recently revamped district heating terminal has a capacity of 12,000 kW, which makes it Nuon's largest thermal connection in the Netherlands. The expansion of this renewable energy source has resulted in a reduction of around 1,500 tonnes of CO2 emissions compared to the former gas boilers at RAI Amsterdam, or a 50% reduction. Furthermore, the use of fossil fuels has decreased by 95%.
Information and communication technology high-value ICT
High-value ICT facilities are an increasingly important factor in the success of an event and for sound business operations. The rapid growth of virtual applications on and around the exhibition floor, and the need for exhibitors, visitors and RAI staff to be connected 24/7, requires continuous attention. RAI Amsterdam therefore prioritises the renewal and further development of its ICT services and service provision.
ICT fit for the future
RAI Amsterdam’s ICT is ‘fit for the future’ in terms of both technology and organisation. In 2015, all systems were migrated to a new environment. The internal ICT system, which had not always been stable in the past, is now entirely in order.
ICT security
A great deal was invested in ICT security in 2015, especially data security. RAI Amsterdam gives controlled access to hackers during hackathons in order to test the safety of its ICT systems.
principal objectives for virtual pillar strategy
Ten objectives were formulated in the virtual field within RAI Amsterdam’s refined strategy plan. The two key objectives for ICT are:
1. Bringing connectivity to a higher level. Current connectivityisalready stateoftheart; the ambition is to be bestin classin this category. 2. Developing new services,such as indoornavigation,locationbasedservicesand augmented realitytools.
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indoor navigation
A new service will soon be launched which provides an indoor navigation tool: an interactive map displaying the fastest route to a given stand or indoor restaurant, say, will offer an extra dimension to the event visitor experience. RAI Amsterdam has developed a unique indoor navigation tool based on geomagnetic radiation together with several partners active in the field of exhibition/convention companies. This service is expected to be available in 2016.
virtual tour 2.0
RAI Amsterdam introduced a Virtual Tour App for the iPad in 2013, allowing organisers to take a virtual tour of the complex. The app enables users to see and hear events in the halls and exhibition areas as though they were present themselves. This made RAI Amsterdam the world's first convention centre with such an app in panoramic 360° video. In the 2.0 version of the app launched this year, panoramic 360° video clips were added of rooms, reception areas, restaurants and various events. The app also offers features such as videos and photos of past events that can inspire organisers in the development of their own event. The app can be downloaded for iPad (2 or higher) on www.rai360.nl/app.
virtual competence of employees
In connection with the completion of the virtual pillar in RAI Amsterdam’s strategy, a baseline measurement took place during the reporting year on the virtual competence of all RAI employees. Following this measurement, courses were offered and more information on ICT issues provided. An inspiration session for employees was also held.
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Strategy In 2015, RAI Amsterdam streamlined and reformulated its mission, strategy and brand. The implementation programme for the strategy, as launched in 2014, stayed unchanged. The emphasis of the change during the reporting year was on the integration of brand and strategy and the simplification of the communication thereof. The results were presented internally and externally in the RAI Roadmap.
Mission Inspiring people
The mission of RAI Amsterdam is as follows: RAI Amsterdam brings people together, connecting and inspiring them by organising and facilitating meaningful encounters. In short, our driving force can be formulated as: 'inspiring people'.
RAI Amsterdam achieves this by developing communities, organising high-quality events and making use of a modern and sustainable conference venue in a prime location.
“Our driving force: ‘inspiring people” Ambition the best in Europe
RAI Amsterdam aims to be the best European conference and exhibition organisation for its clients, visitors, shareholders and employees.
Strategy we increase the value of encounters
The strategy of RAI Amsterdam can be summarised as ‘we increase the value of encounters’. To demonstrate the current breadth of the meeting concept in all its aspects, RAI Amsterdam has five supporting propositions.
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Brand values Involved
Hospitable
Customer-oriented
RAI Amsterdam is embedded in the
At RAI Amsterdam you will be received
RAI Amsterdam appreciates who you are
community, committed to sustainability
personally, professionally and, above all,
and what you need. Any challenges are
and takes seriously its responsibility towards people, our city and the world.
with a warm welcome. Our doors are always open, whoever you may be and
dealt with as smoothly as possible. Whether you are an organiser, exhibitor or
The passion and emotional involvement
whatever drives you. RAI Amsterdam is
visitor, we aim to respond to your needs
of our employees and all the other
for everyone. Are you joining us at our
before you even ask. We gladly offer you a
stakeholders determine our success. We ensure that everyone is heard and feels
convention centre in Amsterdam or at one of our events elsewhere in the world? Or
complete solution. We think along with you, look ahead and are dedicated to
connected.
are you taking part via virtual channels?
being of service so that you feel supported.
At RAI Amsterdam you will feel welcome!
r 2017: increasing the value of en coun egy fo ters strat RAI
RAI Roadmap
hospitality
e
sustainable
solutions
connected
innova
professio
qu al ity an dq ua nti ty –o ns
virtual
And that ensures me
success
ite and o
Professional An agreement is an agreement. RAI Amsterdam understands like no other that the quality of an event depends on solid preparation and sticking to agreements. Our goals are ambitious yet realistic. Forecasts and commitments are based on a responsible realisation. We carefully manage expectations and offer you peace of mind.
international – in th e physical
nts g eve durin – s d l r o and virtual w
Enterprising The quality of our location, concepts, products, facilities, services and people ensures that you encounter all the elements of success at RAI Amsterdam. You can rely on an enterprising organisation that had the experience required to create the ideal conditions for achieving maximum added value for every customer. RAI is ready to make the most of every opportunity, thinks along with you, offers its partnership and actively contributes to your success.
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an
e th ut ho g rou d th
rt he
f so rm te In
operational excellence
be st RO I
peace of mind
– ar ye
fo
Innovative RAI Amsterdam is a stage for creativity and innovation. Through our concepts, products and services, RAI Amsterdam ignites new ideas. In a modern and innovative setting, we enhance the experience of your physical or virtual presence. We can push the window of innovation in a significant way because our applications are widely applicable. This ensures that you get ahead.
A closer look at strategy The strategy of RAI Amsterdam can be summarised as ‘we increase the value of encounters’. To demonstrate the current breadth of the meeting concept in all its aspects, RAI Amsterdam has the following five supporting propositions. We increase the value of meetings…
...in terms of quality and quantity As well as being focused on the number of visitors and meetings, RAI Amsterdam is equally concerned with their quality. The satisfaction of visitors and clients is measured in a structural way and decisive for the success of our activities.
...in the physical and virtual worlds RAI Amsterdam organises physical encounters in a convention centre and facilitates virtual meetings in online communities. Creating a platform where visitors can find inspiration and have a dialogue both before and after an exhibition increases the value of an event for its visitors. Interested parties who cannot participate in a physical event can follow parts of it live on the event website.
...both on site and off The communities which are established around an event are not limited to the location of the event. RAI Amsterdam brings people together, even on different continents, to share knowledge related to specific exhibitions and the fields which they serve. These contacts boost our clients’ networks and interest in the event.
… for the best ROI This dimension was added by RAI Amsterdam in order to emphasise that there is an ongoing review of how processes can be made more efficient and costs can be cut, for organisers and exhibitors as well as for ourselves.
... during events and throughout the year Contacts are increasingly also being made outside of the periods of the exhibitions or conventions themselves. RAI Amsterdam provides added value for the target groups of specific exhibitions throughout the year. The internet portal of an exhibition and the activities linked to it expand the role of the event over time, and can even turn it into a permanent source of added value.
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Implementation of strategy in reporting year To manage the above strategy and give it substance, RAI Amsterdam has formulated six strategic themes, which in turn were relayed into 22 programmes with smart objectives. The themes are as follows:
RAI 2017 Solutions RAI Amsterdam invests in renewing and reinforcing physical encounters by proactively developing products and services which provide added value to our customers or make our events more cost and time efficient.
During 2015 the process for the development of solutions was mapped out and a method developed to inventorise and structurally follow up on new ideas and best practices.
More intensive cooperation with stakeholders such as the City of Amsterdam, Amsterdam Airport Schiphol and various hotels allowed existing solutions to be optimised and new ones to be rolled out. An example is Leave Your Luggage, a solution whereby visitors can have their suitcases brought directly from their hotel to Schiphol. This saves visitors the hassle of having bags with them on the last day of the exhibition or their visit.
To optimise on-site services for exhibitors in terms of ordering convenience, time and logistics, the benchmark and the touchpoint surveys of exhibitors were analysed to define areas of improvement.
A baseline study was carried out in 2015 to see how many of the 52 product groups can be replaced by more sustainable alternatives. The answer was 40, and 15 of those have now been changed. Interviews with suppliers are ongoing for the other product groups.
The mobile applications developed during the reporting year give event managers a real-time overview of order flows during stand construction for events, plus issues such as catering. This keeps customers and visitors better informed about the current status of their commissions and orders.
RAI 2017 Virtual RAI Amsterdam enhances the quality and quantity of physical encounters via virtual applications. By connecting the physical and virtual worlds, we stimulate communication and add more meaning to each gathering.
Connectivity was further improved in 2015, with RAI Amsterdam modernising its internal cabling and optimising links to the exhibition floor. Support was improved by deploying extra people and giving training courses, which also improved the internal knowledge transfer related to connectivity.
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The Point of Entry project in 2015 studied how the access to the portals for our different target groups is perceived. Rai.nl, the organisers’ portal, the exhibitors’ portal and MijnRAI were included in the project.
At the beginning of the reporting year, a partnership was started via a tender with a company which supplies RAI Amsterdam with an indoor navigation solution. The firm delivers the mobile application, which works based on magnetic fields, allowing the RAI to determine the users’ position indoors. The positioning technology was optimised during the reporting year and tests were carried out during the METSTRADE show and the Woonfabriek. These tests provided a useful perspective. The application helps users see where they are and leads them to the right location based on exhibitors’ overviews or appointments in their agenda. They can also receive location-based messages. This technology will be opened up to the public in 2016.
Users were surveyed using mock-ups, i.e. ideas for web portal solutions, and the target groups of the METSTRADE show, the Negenmaandenbeurs and GreenTech were approached to map users’ wishes. Moreover, the MijnRAI environment was adapted so as to make possible major steps in the development of the exhibition web portals.
RAI 2017 International RAI Amsterdam is working on further distribution, growth and international expansion. We attract international organisers and exhibitors to Amsterdam and take our international brands and exhibitors abroad.
The quality, bottlenecks and growth potential of our agent network were accurately charted in 2015. RAI Amsterdam entered into an alliance with the Dutch branding organisation NBTC Holland Marketing in the reporting year. A feasibility study was also formulated regarding the options for multi-venue management and venue operations consultancy.
RAI 2017 Operational Excellence By excelling in process optimisation, RAI Amsterdam increases the quality of physical encounters and keeps them affordable. The operational excellence programme, which was widely deployed within the company in 2014, will result in an even more streamlined organisation in the coming years, with cost savings and risk reduction as a result.
Work continued on the previously developed plans during the reporting year. The inventory of the potential for improvement in departmental and chain efficiency, as determined in 2014, has led to 32 implementation plans that have been merged into a single quality assurance plan. Work proceeded on improving the comprehensive process chain both on a departmentallevel and overall in 2015. Various departments formulated action plans to solve cross-department bottlenecks and streamline the RAI’s primary chain process.
RAI 2017 Sustainable RAI Amsterdam works on the involvement and interests of all stakeholders. Sustainable innovations focus on providing shared added value for both stakeholders and RAI Amsterdam. In
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the area of corporate social responsibility, RAI Amsterdam aims to serve as an example in the industry.
RAI Amsterdam publishes a sustainability report every year. The 2014 report can be found on our website ('About RAI Amsterdam', 'Sustainability, environment and innovation').
RAI 2017 Hospitality Offering visitors a warm welcome is the essence of RAI Amsterdam’s existence. Welcoming our guests to a pleasant stay and offering impeccable service is crucial. By constantly investing in our hospitality we maximise the value of every encounter.
All managers attended hospitality inspiration sessions during the reporting year. A vote for the most hospitable department of the month was introduced, further reinforcing the structural communication and dialogue on customer and service orientation. The action plan, which aims to improve the hospitality experience, serves as the basis for a structural change process in which awareness, knowledge sharing, attitude, behaviour and quality assurance are key.
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Company and personnel RAI Amsterdam aims to be one of the visible frontrunners in the field of sustainability in the MICE (Meetings, Incentives, Conferencing, Exhibitions) industry in Europe. In the framework of this ambition, RAI Amsterdam recognises its social role and associated responsibilities as an employer. It visibly and actively contributes to the wellbeing and welfare of current and future employees.
HR goals connecting talent and energy to organisational goals
RAI Amsterdam strives to establish a firm core and flexible team of first-class staff who perform to the best of their ability in ideal conditions that permit them to connect their talents and energy to the goals of the organisation. Everything is articulated so as to create the highest possible added value, both for the clients and visitors to RAI Amsterdam, and for RAI Amsterdam itself.
goal: frontrunner in sustainability in Europe
RAI Amsterdam has the ambition to be one of the visible frontrunners in the field of sustainability in the conference and event industry in Europe over the next five years. In the framework of this ambition, RAI Amsterdam recognises its social role and the associated responsibilities as an employer. From its function as an employer, RAI Amsterdam aims to visibly and actively contribute to the wellbeing and welfare of current and future employees. To achieve this, RAI Amsterdam has a sustainable HR policy focused on the welfare, vitality and lifestyle of our employees.
Employee satisfaction satisfaction survey on working for the RAI: high response
In November 2014 a survey was held among all employees to gain feedback on satisfaction levels with the activities and working conditions at RAI Amsterdam. RAI Amsterdam also wished to identify key areas for improvement and gain insight into the effects of its personnel policy. Some 302 employees completed the survey – a 73% response rate, the same as in 2012 when the previous survey took place.
approval rating grows to 7.9
The general conclusion of the study is that satisfaction levels have improved significantly; overall satisfaction was 7.9: 0.2 higher than in the last measurement in 2012. Employees were most satisfied with their co-workers (score: 7.9) and the company as a whole (score: 7.7). Efficiency, work pressure – with major differences between departments – and remuneration & development opportunities remain concerns. The results will be converted to a plan of approach to enable improvements in various fields.
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Vitality initiating, facilitating and promoting vitality campaigns
RAI Amsterdam promotes the vitality of its employees so that they can all be fit, energetic and healthy at work. With this in mind, the programme ‘RAI Vitaal’ has been designed to initiate, facilitate and promote vitality campaigns among employees. A variety of possibilities were offered in the framework of ‘RAI Vitaal’ in 2015, which help employees in the field of health & fitness, work enjoyment & work-life balance, and stress & absenteeism prevention.
Company setup efficient setup, optimal division of flexible teams
The organisational structure of RAI Amsterdam is characterised by the most efficient arrangement of each department and/or part of the company, with clear responsibilities and authorisations, established in job profiles. There is an optimal distribution of fixed employment contracts and flexible work (flexible teams) across the entire population of employees. Recruitment takes place internally whenever possible and is carried out by RAI employees themselves. RAI Amsterdam aims to have multi-purpose employees who can cover for each other if required. All new employees are assigned a custom-made familiarisation programme specific to their job description and department. The organisation attaches great importance to making each new employee feel welcome and warmly received.
New working methods aim of the new work methods
RAI Amsterdam has chosen to introduce its own version of the ‘new way of working’ concept throughout the company. Under the heading ’Working together to create a more effective working environment’, a programme has been deployed to find a proper balance between operational excellence and creativity. This takes place by means of three themes: Management & Space, Flexible Working and Learning Capacity.
The theme Management & Space focuses on leadership development and ensuring a management style that is result-oriented, with space for and trust in individual responsibility. Under the theme Flexible Working, the workplace environment is oriented in a way that allows effective cooperation in a flexible office where meaningful encounters can be created. The Learning Capacity theme is being framed through the programme Smarter Together, which stimulates a learning organisation in which knowledge and experiences are shared, people are encouraged to learn from each other, structural improvements are carried out, and systematic support is given to the process of gaining and sharing knowledge.
Diversity the power of teams with a diverse composition
RAI Amsterdam strives to enrich the composition of its departments in terms of age, experience, gender and competencies. RAI Amsterdam is convinced that diverse teams have a positive influence on results. There is an overall gender balance in the work force, with 51% women and
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49% men. Other objectives in the field of gender diversity, as described in the Talent to the Top charter, were met easily – for instance, there are 35% of women in management.
Personnel composition Below are some cross-sections of the composition of personnel at RAI Amsterdam.
Personnel At the end of the year
2015
2014
EMPLOYEES
Male
185
46%
196
46%
Female
221
54%
226
54%
Total
406
100%
422
100%
FTE
Male
182.7
49%
191.5
50%
Female
190.9
51%
193.4
50%
Total
373.6
100%
384.9
100%
Personnel Percentage / FTE (at the end of the year)
2015
2014
BY AGE
25 and under
3%
2%
26 to 35
30%
28%
36 to 45
33%
35%
46 to 55
22%
21%
56+ Total
12%
14%
100%
100%
BY DISCIPLINE
Commercial
50%
48%
Operational
40%
40%
Financial/staff Total
10%
12%
100%
100%
2015
2014
3.2%
3.4%
Absence due to illness Percentage
Total
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RAI and young people with occupational disabilities
RAI Amsterdam has been active as a recognised work training company for people with disabilities since October 2015. It is the first exhibition and conference organisation in the Netherlands to give people with disabilities the opportunity to learn and gain work experience within the framework of the Dutch Participation Act. This allows RAI Amsterdam to contribute to the agreement between industry and government to create a total of 125,000 extra jobs for people with disabilities by 2026.
To find places for young people with disabilities, RAI Amsterdam started a close cooperation with the Employee Insurance Administration (UWV), the ROC College in Amsterdam and WSP Groot-Amsterdam in 2015. In 2014, the UWV conducted research into the opportunities for this target group at RAI Amsterdam. Labour analyses carried out at the Banqueting department and Hospitality Crew Centre (HCC) found plenty of work suitable for people with occupational disabilities. In October 2015 the first trainees started at RAI Amsterdam. They work three days a week and go to school one day a week to be trained as ‘hospitality and service employees’ based on an internal company training course custom-made for RAI Amsterdam by ROC Amsterdam. The trainees are supported by a job coach, and a work supervisor from the department in which they are active.
RAI Amsterdam aims to use the experiences from this project to provide suitable work opportunities for the target group of the Participation Act on a structural basis in the future.
On 13 January 2016, seven members of the trainee programme received their work contract from Arjan Vliegenthart, Labour, Income and Participation alderman, and Jules Broex, HRM manager of RAI Amsterdam.
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Social engagement more opportunities for youthful unemployed and young people with occupational disabilities
The HR policy related to social engagement reflects an aim to create more social return for the city of Amsterdam. In the reporting year, RAI Amsterdam cooperated in two important initiatives in the field of creating better opportunities for unemployed youth (work agreement for tackling youth unemployment) and young people with occupational disabilities (see sidebar below).
The social engagement of RAI Amsterdam and its employees is also underlined by the charities we support: AMREF Flying Doctors, Emma Children’s Hospital (until October 2015) and Natuur en Milieu (from October 2015).
over € 57,000 for AMREF Flying Doctors
RAI Amsterdam and its employees have been supporting AMREF Flying Doctors for over a decade. Established as ‘Flying Doctors’ in 1957, AMREF Flying Doctors is the largest health organisation in Africa. The goal of the organisation is to structurally improve the health of vulnerable populations in Africa. October 2015 marked the fifth edition of the sponsor bike ride for AMREF Flying Doctors; ‘the Africa Classic’. RAI Amsterdam was represented by ten employees, who biked nearly 400 kilometres in six days over a difficult route in the harsh climate of northern Tanzania. The RAI team raised over € 57,000.
end of partnership with Emma
Over the past ten years, the national exhibitions organised by RAI Exhibitions raised funds for and
Children’s Hospital AMC
worked with Emma Children’s Hospital AMC. The partnership was concluded in late 2015 with the opening of the new children’s restaurant in the hospital.
Natuur & Milieu as new
RAI Amsterdam and the independent environmental organisation Natuur & Milieu are striving for a
sustainable partner RAI
sustainable and mutually beneficial partnership. The cooperation helps develop co-created
Amsterdam
initiatives, which will strengthen the sustainable character of RAI Amsterdam and the content of its national events on the one hand, and provide Natuur & Milieu with a platform for stimulating visitors and exhibitors to make more sustainable choices on the other. Having worked with the organisation at several exhibitions, RAI Amsterdam has now chosen a more structural partnership with Natuur & Milieu. This goes beyond fundraising, including initiatives that have added value for both parties. A good example was a session on Zero Emission Urban Logistics organised by Natuur & Milieu during the BedrijfsautoRAI, offering companies, governmental institutions and students a platform for presenting their innovative visions, projects and services in the field of urban transport.
Safety safety & security board
RAI Amsterdam has a Safety & Security Board which monitors the company’s Health, Safety & Security policy. The policy details the safety measures and facilities which support the continuity of business activities while maintaining hospitality, and representing the interests of RAI Amsterdam, staff, clients, suppliers and visitors in the broadest possible sense. In 2015 the crisis management organisation reviewed the protocols and discussed them based on various cases.
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Top Employer certificate received
RAI Amsterdam received its certificate as a Top Employer in February 2015. This achievement was preceded by a comprehensive assessment of the company’s HR policy. Special attention was paid to how the official policy is carried out in practice.
RAI Amsterdam was objectively assessed and certified as a ‘Top Employer 2015’. In concrete terms, this means that current and future employees can expect plenty of room for personal and professional development within the company. It also shows that RAI Amsterdam offers a quality environment and company culture where people can enjoy their work and be effective at both a professional and personal level.
The Top Employers Institute assesses the conditions employers offer their employees worldwide. The Top Employers certificate is granted every year to companies that provide excellent terms of employment and support for talent development at all levels of the company and aim to constantly improve working conditions. RAI Amsterdam was recently informed by the Top Employers Institute that it will retain its certificate in 2016.
Cooperation with the RAI Works Council frequent and constructive dialogue
There was frequent and constructive dialogue between the Works Council and management over the past year. Subjects discussed included the financial results, construction developments, the MTO report, the Excellent 2014 efficiency programme, the progress of the new working methods, consent requests and working conditions. In addition to these formal consultations, the dialogue continued in a number of subcommittees, such as the HRM Committee, the Financial Committee, the Working Conditions Committee, the Terms of Employment Committee, the Pensions Committee and the Flex Committee. A sounding board group set up by the Works Council for both permanent employees and temporary staff also discussed a wide range of topics. The annual Works Council report provides a more comprehensive description of the issues discussed in the past year.
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Cooperation with training institutes links between training and work
With some 90 interns per year, numerous tours and a variety of guest lectures, RAI Amsterdam engenders close connections between education and work. Cooperation with relevant training institutes is the ideal way of promoting links between study and work, aligning training content and increasing awareness of RAI Amsterdam as an employer. In addition to independent cooperation arrangements, three new structural partnerships were started for this purpose, namely with the Amsterdam University of Applied Sciences, the Stenden University of Applied Sciences in Leeuwarden, and the Intermediate Vocational College Zuid (the regional training centre (ROC) located across the street from RAI Amsterdam.
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Shareholder equity and loan capital The dividend to be paid over 2015 (€ 2.277 million) was established by RAI Amsterdam in accordance with the applicable dividend policy for the years 2013-2018. In the reporting year, financing took place within the scheme established with the Deutsche Bank and Rabobank Amsterdam in 2013.
Realising stakeholder goals RAI Amsterdam combines its financial and social objectives and attempts to unite the interests of stakeholders with the aims of the company itself for long term continuity. The starting point for the formulation of the business model was as follows:
value for stakeholders
1. Creating shareholder value by maximising a durable financial result, in combination with reaching the financial result in the short term and in conformity with the annual budget, with an EBITDA greater than 15% and a minimum net result of € 3 million.
value for society
2. Creating as much economic spin-off as possible for the city and region from which RAI Amsterdam receives its ‘licence to operate’.
In practice, this works as follows: if the (forecast) net annual result is below € 3 million, the realisation of shareholder value will take precedence. In other cases, a balance will be found between the two perspectives.
Dividend policy 2013 - 2018 € 2.24 million per year to be indexed
A new dividend policy for the years 2013-2018 was established in early 2014. RAI Holding B.V. will pay its shareholders a fixed dividend of € 2.24 million a year (price level 2014; annual revaluation will be based on the consumer price index determined by Statistics Netherlands).
maximisation, carry-forward
Dividends paid out in a single year will never exceed the net result in that year. If a dividend cannot be paid out in accordance with the policy formulated above due to an insufficient net result, the shortfall will be added to next year’s dividend inasmuch as the net result in that year allows for it. The cumulative dividend owed over previous accounting years will never exceed the (indexed) fixed dividend of the latest accounting year for which a dividend should have been paid.
consultation if result differs considerably
If the net result differs structurally and considerably from the basic scenario as reflected in the policy outline memorandum 2013 -2018, management will initiate discussions with the shareholders to review whether the dividend policy should be revised.
compulsory dividend test can lead to reduction of dividend payments
Before a decision regarding dividend payments in a given year is made, a dividend payment test will be carried out in accordance with the Flexibility and Security Act by the Board and the Supervisory Board members of RAI Holding B.V. If this test has a negative result, only partial or no
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dividend payments will be made in the given year, after which the carry-forward will come into force.
Financing scheme equal club deal, ratio determined via intercreditor agreement
RAI Amsterdam entered a club deal for financing with Deutsche Bank and Rabobank Amsterdam in 2013. The banks took part on equal terms in the new financing scheme; the new bank financing is founded on two identical credit agreements with these banks, with the exact same rates, covenants and standard conditions. The ratio between the two banks is decided by means of an intercreditor agreement.
2 facilities: long-term loan and current account credit
A long-term loan agreement for € 28 million and an agreement for a current account facility (€ 15 million each) have been made with each bank. The overview below shows the characteristics of both facilities.
Financing scheme Facility A
Facility B
• long-term loan of € 56 million
• current account credit of € 30 million
• seven-year term (due 02/07/2020)
• increase 2017 + € 2.5 million
• repayment:
• reduction 2018 - € 2.5 million
- 2013: none
• rate: 1M Euribor +1.45% surcharge
- 2014/2015: € 2 million per year
• Facility fee: 0.3% per year
- 2016/2017: none - from 2018: € 4 million per year • rate: 3M Euribor +1.80% surcharge
interest swap: interest fixed at
An interest swap agreement was concluded with the Rabobank and Deutsche Bank in late 2013.
3.34%
Based on this, RAI Amsterdam pays interest of 1.54% over Facility A, with a surcharge of 1.80%.
This means that RAI Amsterdam is financed up to and including 2020 for a fixed interest rate of 3.34%
Financial covenants and conditions The following table provides an overview of the financial covenants. The second table shows the conditions and securities linked to the financing.
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Financing scheme Covenant
2015
2016
2017
2018
2019
2020
<4.5
<4.5
<4.5
<4.0
<3.5
<3.0
solvency
>30%
>30%
>30%
>30%
>30%
>30%
EBITDA € 1 million*
>17.5
>17.5
>17.5
>17.5
>17.5
>17.5
senior Next Debt/ EBITDA
* Reviewed annually. Reference date 31 December
Financing conditions Conditions and securities
Conditions
Securities
• No expansion of loan capital
• Mortgage on existing and new real estate
• Change of Ownership • Biennial reassessment of RAI buildings • Max. Capex 12 million per year (excl. new construction) • Max. dividend up to net profit in financial year • Max. on intercompany loans against minority participations • Insight top 10 events/ occupancy rate
In 2014 RAI Amsterdam concluded a credit agreement with the Amsterdam Investment Fund of the Municipality of Amsterdam for the financing of solar panels. The credit agreement consists of a loan of € 0.1 million for the period until 5 March 2029. The loan will be repaid at the latest by 5 March 2029 and the interest rate is 0%.
In 2014 RAI Amsterdam also concluded a credit agreement with the Triodos Bank for the financing of solar panels. It consists of a loan of € 0.29 million for the period until 1 January 2034. The loan is being repaid in 79 quarterly terms, starting 1 July 2015. The interest rate is 3.5% on an annual basis for the period until 17 January 2026.
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Order portfolio (per ultimo 2015)* * based on RAI-organised events and third-party events that have been booked or for which an option has been taken out.
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71%
2020
78%
2019
81%
2018
89%
2017
2016
99%
Prospects The prospects for RAI Amsterdam are good. With a full portfolio of events, a modern and exceptionally accessible convention centre and a dedicated team of employees, RAI Amsterdam is ready for the future.
RAI-organised events 2016 is expected to be a good year for RAI-organised events; RAI Amsterdam is organising 16 events, of which eight will take place in Amsterdam.
National exhibitions RAI Amsterdam expects a modest growth in the turnover and number of visitors to the national exhibitions. The years of recession and subsequent cuts seem to be over in the sectors for which the RAI facilitates events. This has already been confirmed by major indicators such as the Horecava and Huishoudbeurs, which took place in early 2016.
International exhibitions
While the national exhibitions (both trade and consumer exhibitions) are showing modest growth due to the economic outlook, all the indications are that international exhibitions will continue their more substantial growth figures. RAI Amsterdam hopes to benefit from this trend with its strong international exhibition titles in Amsterdam. The growth of the spin-off exhibitions abroad will also have a positive impact on the results. Two new spin-offs will be launched in Mexico in 2016: Aquatech and Intertraffic.
A unique development in 2016 is the introduction of a new functionality: indoor navigation in the RAI complex. This innovation will be launched for exhibition visitors during Intertraffic Amsterdam.
Third-party events RAI Amsterdam also expects the growth of third-party events. Nearly all recurring events are expanding, and 2016 also includes various one-off events.
New third-party events in the RAI in 2016 include: FESPA Digital, the European Breast Cancer Conference, the ECCO Congress, ECCMID, the GRI Global Conference on Sustainability and Reporting, Future of Events and Aviation Week MRO Europe.
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Real estate developments The construction of the nhow RAI Amsterdam hotel is due to begin in 2016. This concludes the preparation stage and marks the start of the actual building activities of the future highest landmark building of the RAI Amsterdam Convention Centre.
The new multifunctional parking garage is set to be taken into use in August 2016. It will provide the RAI Amsterdam Convention Centre with 1,000 extra parking spaces and an additional 2,800 m2 of exhibition space.
Insofar as is known, the North/South metro line â&#x20AC;&#x201C; the new metro line that will connect RAI Amsterdam to the heart of the city and Central Station â&#x20AC;&#x201C; will be opened in 2017. It will bring our visitors to and from the city centre and Central Station in under ten minutes. Although Amsterdam is relatively compact compared to other European cities, this exceptionally short travel time will contribute further to the attractiveness of the RAI Amsterdam Convention Centre, including for shorter international events.
Order portfolio The turnover forecast based on incoming orders is an important indicator of the commercial performance of RAI Amsterdam. A prognosis of the direct and indirect turnover based on contracted options and bookings offers a positive image for the coming five years, especially due to the growth of international events. A priority in 2016 is to fill the newly available exhibition period due to the discontinuation of the AutoRAI 2017 as quickly as possible with one or more new international events.
Strategy In the coming years RAI Amsterdam will continue to work on implementing the company strategy.
RAI Amsterdam is convinced that the need for physical encounters will remain and that events will continue to be organised for this purpose. The nature of events will change, however. They will be more about experience and inspiration and less about exchanging factual product information. It will become increasingly important that RAI Amsterdam gives companies insight into the high return on investment available from taking part in an exhibition.
In view of the rise of digital technology, RAI Amsterdam is developing a range of applications and solutions. The connection to the virtual world ensures that events can maintain contact with their target groups 365 days a year. This creates communities and strengthens the position of physical events. In addition, the virtual world connects events to an even larger audience, which can result in an exponential growth in the reach of exhibition titles. The future will not only revolve around providing exhibition floor space and facilities â&#x20AC;&#x201C; intelligently organised content will be offered to specific sectors and communities throughout the year.
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Added value for the city RAI Amsterdam is pleased that the Amsterdam Metropolitan Region has appointed data-driven innovation as one of its five spearheads. This in line with our strategy and the shared goal will strengthen both the city and convention centre in the coming years.
In the reporting year, the municipality published the report â&#x20AC;&#x2DC;City in Balanceâ&#x20AC;&#x2122;, which states that spreading visitors throughout the year and throughout Amsterdam is essential to reduce pressure on the city centre. RAI Amsterdam contributes to the development of an attractive residential climate, in which the character of the city centre extends to the Zuidas business district. As international visitors spend the day in the convention centre and visit the city centre at night, RAI Amsterdam contributes to the spreading of visitors over time and space. It also stimulates the economy as many business visitors have a higher average spend than tourists.
Change in management The newly appointed statutory board will take on its duties in April 2016. Paul Riemens and Maurits van der Sluis will take over the helm of RAI Amsterdam from Hans Bakker, and lead RAI Amsterdam into a successful future.
In conclusion The board wishes to thank all stakeholders for their involvement with RAI Amsterdam. Special thanks go to the staff for their efforts. Their hospitality and professionalism are essential for creating meaningful encounters; they form the basis of the success of the past year and will help set RAI Amsterdam apart in the future too.
Amsterdam, 17 March 2016
Executive Board of RAI Holding B.V. Hans Bakker, CEO
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#04
Governance and risk management
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Corporate governance RAI Holding B.V. is a private limited company in accordance with Dutch law. Shares in the company are held by the RAI Association and the City of Amsterdam. The governance structure is based on Book 2 of the Dutch Civil Code, the statutes of RAI Holding B.V. and various internal regulations. The governance structure of RAI Holding B.V. includes a General Meeting, Supervisory Board, Executive Board and Works Council.
Legal structure RAI Holding B.V. and its group companies
RAI Holding B.V. is a holding company. The companies that are part of RAI Holding B.V. are listed in the ‘General’ section of the Financial Statement under ‘Principles of consolidation’. Wherever this annual report states ‘RAI Amsterdam’ it refers to RAI Holding B.V. and all its group companies. Group companies are participations in which RAI Holding B.V. plays a policy-deciding role.
Changes to statutes in financial year name change; modified statutes published on website
The most recent statutes of RAI Holding B.V. are dated 18 July 2008. The latest statutes of subsidiary RAI Amsterdam B.V. are dated 2 June 2015. The modification of the statutes in the financial year was mainly made to change the company name from Amsterdam RAI B.V. to RAI Amsterdam B.V.
Corporate Governance code code fully recognised and
The Executive Board and Supervisory Board recognise the Dutch Corporate Governance code as
applied where applicable
determined by the Corporate Governance Code Monitoring Committee in 2008 and implemented on 1 January 2009. They apply the principles and best practice definitions therein, insofar as they apply to RAI Holding B.V. In some cases the principles and best practice definitions do not apply because RAI Holding B.V. is not quoted on the stock exchange and only has two shareholders.
Nonetheless, the code is fully recognised and applied where applicable. Any substantial change to the corporate governance structure of RAI Holding B.V. and compliance with the code will be presented to the General Meeting as a separate agenda item.
‘explain’
The following recommendations from the code are not applied (in full):
Remuneration of Executive Board members upon dismissal The remuneration in the event of dismissal may not exceed one year’s salary. This agreement does not apply to Executive Board members who were already members of the Board when the Corporate Governance was implemented; Authority of Supervisory Board to change variable remuneration and potential recovery The provision that the Supervisory Board should have the authority to change the variable pay of the Executive Board (either up or down) and the authority to recover incorrectly
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transferred remunerations will be included in the Supervisory Board regulations in the short term; Determination and publication of remuneration The remuneration of the Supervisory Board is included in this section under ‘Supervisory Board’, ‘Remuneration’. The provisions related to the determination and publication of the remuneration of Executive Members have not been applied; based on Article 383 section 1 of Book 2 of the Dutch Civil Code, and similar to previous years, the therein included exemption was applied in 2015 because the Executive Board consists of one person; Publication of notes on the general remuneration on website The provision that the written notes with a proposal for the approval or authorisation by the General Meeting be placed on the company’s website has not been applied due to the fact that the company only has two shareholders; Publication of policy for bilateral contacts with the shareholders on website The provision that the company formulate an outline policy regarding bilateral contacts with the shareholders and publish this policy on the website has not been applied due to the fact that the company only has two shareholders.
Governance Supervisory Board Supervisory Board regulations
The Supervisory Board regulations were re-determined on 26 March 2015. They are based on
detail application of Dutch
Article 16, section 4 of the company statutes and serve as a supplement to the regulations and
Corporate Governance Code
instructions that apply to the Supervisory Board in accordance with Dutch legislation and company statutes. The task division of the Supervisory Board and its working methods are included in the regulations. The Supervisory Board regulations are published on the website of RAI Amsterdam (www.rai.nl).
Supervisory Board tasks supervising and realising
The task of the Supervisory Board is supervising the policy of the Executive Board and the general
employer and consultant role
course of affairs within the company and the associated companies. In addition to supervising, the Supervisory Board acts as employer to the Executive Board, and assists the Executive Board with advice. In fulfilling its duties, the Supervisory Board is focused on the interests of the company and the associated companies, taking into account the relevant interests of all those involved in the company. The Supervisory Board is also responsible for the quality of its own activities.
Scope and composition five members, maximum of three periods of four years
RAI Amsterdam has a Supervisory Board consisting of five people. Members of the Supervisory Board can be appointed for a maximum of three consecutive terms.
profile and composition
The profile characterisation is related to the composition of the Supervisory Board. It is discussed with the General Meeting and the Works Council whenever there are any changes. The profile characterisation is published on the website of RAI Amsterdam (www.rai.nl).
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ensuring independent and critical functioning
The Supervisory Board is composed in such a way that its members can function independently and critically with regard to the other members, the Executive Board and any other partial interest, in accordance with the code. Each Supervisory Board member should be able to evaluate the outlines of the total policy. Additionally, all members have a specific expertise and related competences required for fulfilling their duties. The Supervisory Board aims to be composed in such a way that continuity is guaranteed, and should be well-balanced with regard to the age, experience and male/female ratio.
Committees three committees
As the Supervisory Board in its complete configuration has more than four members, there are three core committees (in accordance with the regulations), namely an Audit Committee, Remuneration Committee and Selection and Appointment Committee. The committees are established and composed by the Supervisory Board. The (full) Supervisory Board remains responsible for all decisions, whether or not they were prepared by one of the committees. The regulations of the committees are published on the website of RAI Amsterdam (www.rai.nl). The composition of the committees is indicated in the Statement of the Supervisory Board, under â&#x20AC;&#x2DC;Committee reportsâ&#x20AC;&#x2122;.
Step-down roster a maximum of three terms of four years
The step-down roster was determined based on Article 6, section 2 of the Supervisory Board regulations. A Supervisory Board member will step down at the latest at the first General Meeting held after four years since his or her last (re)appointment as Supervisory Board member. The roster is included below and continuously published on the RAI Amsterdam website (www.rai.nl).
Step-down roster Maximum of three terms
Name
Date of 1st
Current
Upcoming proposal for
Final date for stepping
appointment
term
stepping down or
down: the first General
(re)appointment: the
Meeting after:
first General Meeting after:
R.H (Roelf) de Boer
23.04.2015
1st
23.04.2019
23.04.2027
A.M.H. (Annemarie) Van Gaal
15.09.2015
1st
15.09.2019
15.09.2027
F.I.M. (Ferry) Houterman
01.09.2004
3rd
01.09.2016
01.09.2016
S.J. (Shulamith) Rijxman
12.04.2012
1st
07.04.2016*
J.W.Th. (John) van der Steen
07.04.2011
2nd
07.04.2019
07.04.2023
* Ms Rijxman has indicated she wishes to terminate her membership during the General Meeting of 7 April 2016.
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Training introduction programme for new Supervisory Board members
After appointment, every member of the Supervisory Board follows an introductory programme developed and financed by RAI Amsterdam which focuses on general financial and legal affairs, financial reporting by the company, specific aspects of RAI Amsterdam and its business activities, and the responsibilities of the Supervisory Board.
additional education
Once a year, the Supervisory Board also discusses any desirable/required (additional) education during the terms of the individual members.
Evaluation of the Supervisory Board no evaluation in 2015
The Supervisory Board normally reports on its functioning in an annual report. This yearâ&#x20AC;&#x2122;s evaluation did not take place as explained in the Statement from the Supervisory Board.
Conflicting interests no conflicting interests in Supervisory Board
Supervisory Board members do not take part in discussions and decision-making processes related to a subject or transaction in which the member has a conflicting interest with the company, as in Article 11 of the Supervisory Board regulations. If approved, such a transaction can only be concluded under the usual conditions and must be approved by the Supervisory Board and published in the annual report.
The Statement of the Supervisory Board indicates that there were no transactions involving conflicting interests in 2015. As a precaution against a possible conflict of interest, contractual agreements related to the nhow RAI Amsterdam Hotel were discussed by the Supervisory Board without Mr Ferry Houterman, Supervisory Board member of RAI Amsterdam and Supervisory Board member of the Hampshire Hotel group.
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Remuneration no personal loans and/or securities provided to
The Supervisory Board members were not provided with shares and/or options or similar rights for obtaining shares in the capital of the company, nor did they acquire any loans and/or securities.
Supervisory Board members fixed remunerations per function/chairmanship
The remuneration of the Supervisory Board members is determined in the General Meeting and does not depend on the results of RAI Amsterdam. The remuneration of the Supervisory Board members for 2015 amounted to € 22,411. The chairman received an additional remuneration of € 5,603. The chairman of the Audit Committee received an additional remuneration of € 2,241.
Regulation for the secretary of the Supervisory Board Regulations for the Secretary of the Supervisory Board were drawn up and ratified in the reporting year. Mrs P. H. Bottema-Sanders was appointed to this position on 25 June 2014. She is also General Counsel of RAI Amsterdam.
Executive Board governance Executive Board regulations detail application of Dutch Corporate Governance Code
The regulations for the Executive Board were last changed on 25 June 2014. They are based on Article 13, section 3 of the company statutes and serve as a supplement to the regulations and instructions that apply to the Supervisory Board in accordance with Dutch legislation and company statutes. The task of the Executive Board and its working methods are included in the regulations with which the Executive Board aims to comply with the Dutch Corporate Governance Code. The Executive Board regulations are published on the website of RAI Amsterdam (www.rai.nl).
Appointment appointment for four-year terms
Executive Board members are, in principle, appointed for a period of a maximum of four years. Reappointment occurs each term for a maximum period of four years. The appointment of periods of four years does not apply to Executive Board members who were already a member when the regulation was implemented. An extension of the statutory term until 1 March 2016 was agreed with the current Statutory Director in February 2014. He was subsequently requested to stay until 1 May 2016, after which he will step down on 1 August 2016 and retire.
Change in executive structure Statutory Board to consist of two people
In the reporting year, a new executive structure was set up and new Board members were recruited. As of 7 April 2016 the Statutory Board will no longer consist of one person, but of two, namely a CEO and a COO. The portfolio distribution will be determined by the two together after approval from the Supervisory Board.
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Conflicting interests one case of conflicting interest
Executive Board members do not take part in discussions and decision-making processes related to a subject or transaction in which the member has a conflicting interest with the company, as in Article 8.2 of the Executive Board regulations. If approved, such a transaction can only be concluded under the usual conditions and must be approved by the Supervisory Board and published in the annual reports.
In 2015 there were deliberations with the GVB related to the purchase of transport. As CEO Hans Bakker is also chairman of the Supervisory Board of GVB Holding NV, he did not take part in these deliberations, which were instead led by Maurits van der Sluis. Based on his role at the GVB, Hans Bakker also did not participate in any meetings on this subject.
Remuneration no shares, options, loans or securities provided
no report on the remuneration of the Executive Board
The Executive Board member did not receive any shares and/or options or similar rights for obtaining shares in the capital of the company, nor did he acquire any loans and/or securities.
The Statutory Board of RAI Holding B.V. consisted of only one person in the reporting year. Based on the exemption in Article 383, section 1 in Book 2 of the Dutch Civil Code, the remuneration of the Executive Board is not reported.
Employee governance Code of Conduct applicable standards
RAI Amsterdam is aware of its social role and the resulting responsibilities towards all parties. The actions of RAI Amsterdam and its employees are founded on the core values and business principles formulated by RAI Amsterdam. The Code of Conduct provides clarity by describing standards related to the actions of everyone who represents RAI Amsterdam. The instructions given by the code of conduct are unconditional and not influenced by financial goals. The Code of Conduct was implemented on 1 September 2006 and is published on the website of RAI Amsterdam (www.rai.nl). In 2015 a few parts of the Code were amended; it now provides more details on the expected behaviour of the employees with regard to values, integrity and ethical conduct, and was supplemented by guidelines for communication, conflicting interests, competition law, market abuse, misuse of insider information, confidential company information, financial integrity and knowledge of laws and regulations.
To strengthen compliance with the Code of Conduct, an official was appointed within RAI Amsterdam to carry out independent internal audits. Twenty such audits were performed in 2015, focusing on issues such as authorisations and procuration, the discount policy, and the use of mystery buyers. The audit resulted in recommendations which were implemented in 2015 or will be implemented in the near future.
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Whistleblower scheme procedure for reporting
The whistleblower scheme determines how employees can report suspected violations to their
suspected violations
employer. The scheme details the procedure to be taken by the employer and determines that employees who report suspected violations and who act in accordance with the provisions and in good faith will not be put at any disadvantage in their position as a result of any report. The whistleblower scheme was implemented on 1 September 2006 and is published on the website of RAI Amsterdam (www.rai.nl).
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Risk management RAI Amsterdam has systems in place for risk analysis and control. The company distinguishes between strategic, financial/administrative and operational risks. Strategic risks are related directly to events that can structurally undermine the position of the company, operational risks are related directly to business activities, and financial/administrative risks are associated with developments in the financial market and financial and administrative management.
Risks strategic risks
We recognise five strategic risks: S-1 exploitation risk: the risk that one of the RAIâ&#x20AC;&#x2122;s own titles has to be cancelled S-2 risks related to letting to third parties S-3 traffic: the accessibility of RAI Amsterdam (city of Amsterdam, Schiphol) S-4 exploitation risk: the risk that a third party event is cancelled S-5 security against terrorism
financial / administrative risks
We recognise ten financial/administrative risks: F-1 financing risk (including not being able to comply with bank agreements) F-2 interest risk F-3 currency risk F-4 debtor risk F-5 administrative organisation: integrity, availability, monitoring of automatic data processing and storage F-6 financial control F-7 cash flow risk F-8 potential excessive reimbursement of expenses (fiscal) F-9 accounting fraud F-10 risk related to activities abroad: different laws & regulations than in the Netherlands
operational risks
We recognise 17 operational risks: O-1 safety while working in the halls O-2 construction risks: risks not covered by licenses that can occur when placing temporary installations and structures O-3 large-scale health risk (Legionella, Ebola) O-4 hazardous substances O-5 hygiene and food O-6 product liability related to RAI services O-7 crowd control (e.g., in case of fire) O-8 national strike O-9 failure of installations essential to an event (cooling, heating, power etc.) O-10 failure of in-house operational ICT systems (administration, operations) O-11 failure of event network for exhibitors O-12 third party demands on the RAIâ&#x20AC;&#x2122;s ICT infrastructure and public services at the RAI grow faster than the RAI is able to upgrade/expand O-13 organisers, exhibitors and/or visitors use the (public) infrastructure differently than expected,
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resulting in substantial disruptions O-14 long-term breakdown of ticket websites (huishoudbeurs.nl, metstrade.com etc.) O-15 database integrity O-16 privacy violations as a result of data misuse O-17 data theft by hackers
Risk evaluation method current risk and current consequences
Evaluating the actual risks for RAI Amsterdam comprises both the current risk of occurrence of a possible event and the current consequences (measured in financial terms) of the event on RAI Amsterdam.
evaluation of risk impact
The combination of the current risk and current consequences determines whether the current risk level is seen as low, medium or high. The evaluation explicitly takes into account the prevailing monitoring procedures and measures/actions taken to mitigate the intended risk. The determination of risk and consequence is indicated in the matrix table below. The letters in the matrix indicate the type of risk, with S representing strategic risks, O operational risks, and F financial/administrative risks. The associated numbers refer to the risks as indicated above. The colours represent the following risk levels: low risk level (green) medium risk level (yellow), and high risk level (red).
As the matrix indicates, only a few strategic risks receive the high-risk designation. These are: S-1 (exploitation risk: the chance that one of RAIâ&#x20AC;&#x2122;s own large exhibitions will be cancelled) S-4 (exploitation risk: the chance that a large exhibition organised by a third party will be cancelled) S-5 (security against calamities).
The situation is the same as in 2014.
Discussed with the Supervisory Board The risks, internal risk management and control systems along with the realised and planned actions were discussed in the September meeting of the Supervisory Board.
Internal risk management and control systems Below is an overview of which checks and actions were undertaken related to the three largest risks with regard to their impact on RAI Amsterdam.
limiting risks related to RAI events
The risks related to RAI events (risk: medium, consequences: severe) are related to the interests of exhibitors and visitors and influenced by economic conditions (an example in the negative sense is when the AutoRAI was cancelled in 2013). These risks are limited by deploying dedicated, specialised teams for each of the RAI-organised events. The teams have a great deal of knowledge and wide range of contacts in the relevant markets and trade associations, ensuring that they remain fully informed on all event-related developments and are able to stimulate the participation of major exhibitors.
An important action to minimise these risks is the portfolio transition: being less dependent on one sector and expanding the portfolio internationally.
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Strengthening the brands by rolling them out internationally and offering relevant solutions is another way to mitigate these risks. Advanced database marketing further contributes to limiting the risk of disappointing visitor numbers.
limiting risks related to third party events
To prevent a large third party-organised exhibition or conference from being cancelled (risk: low, consequences: severe) relation management of the A accounts has been placed at the Executive Board level. Long-term contracts are implemented where possible. To minimise the consequences of the cancellation of a large third-party title on the results of RAI Amsterdam, priority (time and funds-wise) is given to attracting alternative exhibitions and conferences for the future.
serious calamity
A risk analysis is performed for every large event to determine the security level. Investments in hardware and organisation to protect against calamities have been finalised.
RAI Amsterdam employs a Safety & Security Board that monitors and (where necessary) adjusts the measures related to protecting against calamities.
Risk matrix Risk and consequence determine risk level
Risk (%) >90%: extreme
75-90%: high
50-75%: medium
O-6, O-14
25-50%: low
O-3, O-4, F-4
< 25%: very low
O-2 F-5
F-3 F-6
O-10
O-5 O-16
O-15 O-17
F-8
S-3, F-10
F-9, O-1, O-13
F-1, F-2
S-1
S-2, O-7, O-9, O-11, O-12
S-4, S-5
O-8
F-7 insignificant < € 250,000
minor € 250,000 € 500,000
major moderate severe € 50 0,0 0 0 - € 1,000,000 - > € 2,500,000 € 1,000,000 € 2,500,000 Consequences (€)
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THE VERSATILITY OF THE AMTRIUM
The Amtrium brings together all the qualities of RAI Amsterdam in one building. With its combination of functionalities, THE Amtrium addresses the wide diversity of client requirements in 2016 and beyond. The vertical greenhouse for city farming and restaurant THE ROAST ROOM make the concept even more unique.
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#05
Financial statement 2015
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General RAI Holding B.V. has its registered office in Amsterdam (Europaplein 24). The companyâ&#x20AC;&#x2122;s financial year runs from 1 January to 31 December.
Activities RAI Holding B.V. is a holding company. The main activities of the RAI are accommodating RAI-organised events, and providing facilities to third parties for exhibitions, conferences, corporate events, theatre productions and niche events.
Continuity These consolidated financial statements have been prepared assuming that the company will continue as a going concern.
General principles for valuations The annual accounts were drawn up in accordance with the generally accepted principles for financial reporting in the Netherlands and meet the legal provisions regarding the annual accounts as recorded in Part 9, Book 2 of the Netherlands Civil Code. The principles for the valuation of assets and liabilities were applied consistently during the previous and current year. The principles for valuation and result determination apply to both the consolidated and company annual accounts.
Shareholder structure The RAI Association has a 75 per cent interest in RAI Holding B.V. The remaining 25 per cent of the shares are held by the Municipality of Amsterdam.
Principles of consolidation The financial data of RAI Holding B.V. and all its group companies are consolidated. Group companies are participations over which RAI Holding B.V. has decisive control. The other participating interests are not consolidated.
The financial information of companies acquired during the year under review is consolidated from the moment that RAI Holding B.V. acquires decisive control over the companies concerned until the moment this control is terminated. Transactions between companies that are consolidated are eliminated.
The company owns 100% of the shares in the following participations: RAI Amsterdam B.V., Amsterdam; Arfora B.V., Amsterdam; RAI Langfords B.V., Amsterdam.
RAI Langfords B.V., Amsterdam was liquidated on 31 December 2015.
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These group companies include the results of the following indirect participations (100%): RAI Solar Energy B.V., Amsterdam; RAI Amsterdam Catering B.V., Amsterdam; RAI USA, Inc., Delaware; Rui Ang Exhibition and Convention Co., Ltd., Shanghai. The companies in the USA and China were established in 2013.
Comparative figures The figures over the year 2014 were recategorised where necessary to enable a comparison with 2015.
Foreign currency The functional currency is the euro. Assets and liabilities denominated in foreign currency are converted into euros at the exchange rate valid on the date of the balance sheet. Transactions in foreign currencies are converted at the exchange rates at the time of the transaction. The exchange difference that results from the denomination is included in the profit and loss account.
Use of estimates In order to help determine the included figures when drawing up the annual accounts, the management of RAI Holding B.V. makes certain estimates and suppositions in accordance with the generally accepted principles of financial reporting. The factual results can deviate from these estimates.
The estimates and underlying suppositions are regularly evaluated. Revisions of estimates are recorded in the period in which the estimate is revised and in future periods that are affected by the revision.
Financial tools Financial tools include both primary financial tools such as receivables or debts, and financial derivatives. For the principles of the primary financial tools, see the description per balance sheet item.
RAI Holding B.V. applies hedge-accounting based on documentation for each individual hedge relation, and documents how the hedge relations fit in with the goals of the risk management, hedge strategy and the expectations regarding the effectiveness of the hedge.
The effective part of the financial derivatives assigned to cost-price hedge-accounting is valuated at cost value and the ineffective part is valuated at fair value. The valuation changes of the fair value of the ineffective part are immediately processed in the profit and loss account.
Accounting principles for the valuation of assets and liabilities Assets and liabilities are stated at their nominal value, unless otherwise indicated in the separate items in the explanatory notes.
Intangible fixed assets Externally obtained exhibition titles are valued at cost price or market value if lower, and are depreciated over their economic life, which is assumed to be 20 years at most.
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Software is valued at historic cost and is depreciated over its economic life, which is assumed to be ten years at most. Operating rights are valued at acquisition price and depreciated annually based on the term of these rights.
Tangible fixed assets Tangible fixed assets are valued at their acquisition price, minus straight-line depreciation based on their economic life and minus any special depreciation. Work in progress is valued at acquisition price.
Maintenance costs for buildings owned are immediately charged to the results, or entered as assets and depreciated if the asset criteria allow it.
Financial fixed assets Participating interests over which significant control is exercised of their business and financial policy are stated at their net asset value determined on the basis of the accounting principles of RAI Holding B.V. Participating interests over which no significant control is exercised are stated at the acquisition price or current value if lower. Receivables from and loans to participating interests as well as other receivables are stated at the fair value in the first processing, and then valued at the amortised cost minus the necessary provisions.
Special depreciation of fixed assets An evaluation is made each year to see whether there are any indications that intangible, tangible or financial fixed assets are subject to special depreciation. Special depreciations apply when the balance sheet value of the asset is higher than the realisable value. If there is a case of special depreciation then the relevant asset is devalued to the realisable value. The loss is immediately processed as expense in the profit and loss accounts.
Receivables Receivables are stated at the fair value in the first processing, and then valued at the amortised cost, which is the same as the nominal value minus any provisions for doubtful debts. These provisions are determined based on an individual assessment of the receivables.
The receivables have an expected term of up to one year, unless stated otherwise.
Stock The stock mainly involves food & beverage products of which the valuation is determined at acquisition costs, minus a provision for obsolescence, where necessary.
Securities Securities are stated at their cost or market value on the balance sheet date, whichever is the lower. The market value is in principle equal to the value quoted on the stock exchange. If a sale is expected in the short term, the directly realisable value is considered the market value.
Liquidities Liquidities are at the disposal of the company.
Provisions Provisions are included for all rightful enforceable or factual obligations resulting from an event before the balance sheet date, which are expected to require an export of capital for the fulfilment thereof and of which the scope can be reliably estimated.
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A provision for long-service payments is included based on the valid long-service regulations per balance sheet date, taking into account the likelihood of continued employment, future labour cost developments and discount provisions.
A provision is included for bonus schemes and participations based on relevant performance schemes. This provision is included under current liabilities.
Pension provision The company has two active pension schemes for its employees. Employees who started working for the company before 1 January 2013 are subject to a pension provision that qualifies as a defined benefit plan, in which the defined pension payments are based on average pay. This pension scheme has been placed with a pension insurer, and is processed in the financial statement as a defined contribution scheme due to the fact that the obligations for realising this pension scheme are entirely reinsured.
Employees who started working for the company since 1 January 2013 or those who have voluntary switched to the new pension scheme are subject to a premium scheme with the nature of a defined contribution agreement in which the company obligations are limited to making an annual contribution to the insurance company. Future payable contributions will partly depend on the development of the employment conditions and the yield on the invested contributions achieved by the insurer.
Long-term liabilities Long-term liabilities include debts with a remaining term of over one year. These debts are stated at the fair value in the first processing, and then valued at the amortised cost.
Short-term liabilities Short-term liabilities have an expected term of less than one year. A provision is included for bonus schemes and participations based on relevant performance schemes. There is also a provision included for contractual agreements with employees.
(Deferred) tax liabilities Temporary differences between the determination of profit for commercial and tax purposes are stated at their nominal value in the balance sheet as a deferred tax liability or asset. Deferred claims for corporation tax on account of tax-deductible losses are valued at the future tax rate known on the balance sheet date in so far as it can reasonably be expected that the claims are realisable.
RAI Holding B.V. is the leading company of a group that is treated as a single entity for tax purposes. The other members of the group are: RAI Amsterdam B.V., RAI Solar Energy B.V., RAI Amsterdam Catering B.V., RAI Langfords B.V. and Arfora B.V.
Principles for determination of the result Revenue The financial statements have been prepared on the basis of the historical cost convention. Revenue and expenses are accounted for in the period in which the goods or services are supplied. For exhibitions and events this is the period in which the event takes place. Profits are accounted for in that period. Losses and risks that originated before the end of the financial year are processed if and insofar as they became known before the annual accounts were drawn up.
Depreciation The depreciation on tangible fixed assets is calculated on a linear basis by reference to the expected economic life. The buildings are depreciated to residual value.
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The applied depreciation rates are between 2% and 20%. The depreciation of the intangible fixed assets is related to the acquisition value, and ranges between 5% and 20%.
Financial revenue and expenditure The financial revenue and expenditure involve the exchange differences, interest revenue and costs attributable to the period concerned.
Participating interest results The participating interest results concern the share of the company in the results of the net asset value of the participating interests. The share that the company is due is stated as the result of a specific participating interest in the participating interest results.
Corporation tax The corporation tax is calculated on the commercial pre-tax profit, taking into account the tax facilities. The mutation in the provision for deferred corporation tax is taken into account in the calculations.
Cash flow statement The cash flow statement has been drawn up in accordance with the indirect method. The resources in the cash flow statement consist of liquidities and bank credits. Receipts and expenditure on account of interest and corporation tax are included under the cash flow from operational activities. The cash flow that consists of the net result after tax, increased by the depreciation expenses, is recorded individually.
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1.1. Consolidated balance sheet (before proposed appropriation of results) Consolidated balance sheet Before proposed appropriation of results, amounts x â&#x201A;Ź 1,000
Ref.
ASSETS
Fixed assets
Intangible fixed assets
1.1.1.
4,285
4,878
Tangible fixed assets
1.1.2.
166,217
161,808
Financial fixed assets
1.1.3.
1,134
1,134
171,636
167,820
Current assets
Stock
403
433
Receivables
1.1.4.
29,162
29,169
Securities
41
41
Cash
529
529
30,135
30,172
201,771
197,992
LIABILITIES
Shareholder equity
1.1.5.
Subscribed capital
2,730
2,730
Share premium
22,006
22,006
Other reserves
57,733
50,738
Unappropriated profits
4,214
9,257
86,683
84,731
Provisions
1.1.6.
Deferred taxes
508
1,342
Other provisions
1,600
2,100
2,108
3,442
Debts
Long-term liabilities
1.1.7.
59,951
60,109
Short-term liabilities
1.1.8.
53,029
49,710
201,771
197,992
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2015
2014
2.1. Consolidated profit and loss account Consolidated profit and loss account Amounts x € 1,000
Ref.
Net turnover
2.1.1.
Sum of operating revenues
Costs of outsourced work and other external costs
2.1.2.
Wages and salaries
2.1.3.
Social security contributions
Pension contributions
2015
2014
126,151
119,749
126,151
119,749
58,614
45,409
21,973
23,500
3,273
3,302
2,536
2,358
Depreciation
13,778
14,274
Other operating expenses (including other
2.1.4.
17,034
17,245
personnel costs)
Sum of operating expenses
117,208
106,088
Operating results
8,943
13,661
Interest and similar costs
2.1.5.
‑3,260
‑3,372
Profit on ordinary activities before tax
5,683
10,289
Taxes on profit on ordinary activities
2.1.6.
‑1,469
‑1,032
Results after tax
4,214
9,257
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3.1. Consolidated cash flow statement Consolidated cash flow statement Amounts x € 1,000
2015
2014
Cash flow from operational activities
Operating profit
8,943
13,661
Adjustments for:
13,778
14,274
Depreciation on intangible and tangible fixed assets
Changes in provisions
‑1,334
2,748
12,444
17,022
Changes in stock and receivables
37
1,006
Changes in short-term debts (excluding bank credit)
2,602
‑91
2,639
915
Cash flow from operational activities
Paid interest
‑2,629
‑2,924
Paid taxes on profit on ordinary activities
‑1,731
‑1,435
‑4,360
‑4,359
Total cash flow from operational activities
19,666
27,239
Cash flow from investment activities
Net investment in tangible fixed assets
‑16,752
‑22,320
Net investment in intangible fixed assets
‑842
‑985
Net disinvestment in financial fixed assets
0
0
‑17,594
‑23,305
Total cash flow from investment activities Cash flow from financing activities
Dividend payment
‑2,262
‑2,240
Aflossing langlopende leningen in boekjaar
‑2,165
‑2,000
Changes in long-term liabilities
‑158
‑1,750
Total cash flow from financing activities
‑4,585
‑3,990
Changes in cash and bank credit
‑2,513
‑2,056
Cash and bank credit as at 1 January
‑7,729
‑5,673
Cash and bank credit as at 31 December
‑10,242
‑7,729
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Notes on the consolidated balance sheet as on 31 December 2015 1.1.1. Intangible fixed assets
Intangible fixed assets Amounts x € 1,000
Exhibition
Software
Other
872
7,151
1,685
651
10,359
Additions
0
477
0
365
842
Finished work in progress
0
633
0
‑633
0
Disposals
0
‑465
0
0
‑465
872
7,796
1,685
383
10,736
378
4,032
1,070
0
5,480
Depreciation
30
998
53
0
1,081
Amortisation
355
0
0
0
355
0
‑465
0
0
‑465
763
4,565
1,123
0
6,451
titles Cost as at 1-1-2015
Cost as at 31-12-2015 Depreciation and amortisation as at 1-1-2015
Amortisation on disposals Depreciation and amortisation as at 31-12-2015 Net Book value as at 1-1-2015
Total
progress
494
3,119
615
651
4,879
Net Book value as at 31-12-2015
Work in
109
3,231
562
383
4,285
Investments in exhibition titles are depreciated over a maximum period of 20 years. An impairment test on titles that were externally acquired in the past is performed annually. Software is depreciated over a period of ten years at most, calculated from the time it is first used.
The ‘other’ category primarily concerns the use of a lounge in the Amsterdam ArenA. These rights will be depreciated until the year 2026. Disinvestments are related to assets that are no longer used.
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1.1.2. Tangible fixed assets
Tangible fixed assets Amounts x € 1,000
Buildings,
Inventory
installations
Work in
Total
progress
and land Cost as at 1-1-2015 Additions Finished work in progress Disposals Cost as at 31-12-2015 Depreciation and amortisation as at 1-1-2015 Depreciation Amortisation on disposals Depreciation and amortisation as at 31-12-2015 Net Book value as at 1-1-2015 Net Book value as at 31-12-2015
285,438
25,517
22,038
332,993
5,851
3,244
7,657
16,752
19,841
1,156
‑20,997
0
‑194
‑2,111
‑12
‑2,317
310,936
27,806
8,686
347,428
153,195
17,990
‑0
171,185
9,298
2,968
65
12,331
‑195
‑2,110
0
‑2,305
162,298
18,848
65
181,211
132,243
7,527
22,038
161,808
148,638
8,958
8,621
166,217
Buildings and land are depreciated over a period of 50 years, the Convention Centre over a period of 20 years, and installations over a period of 10 to 20 years. The other fixed assets are depreciated over a period of five to 20 years.
The book value of land subject to a long lease until 2028 on 31 December 2015 is € 3,529,652 (2014: € 3,804,690). Disinvestments are related to fixed assets that are no longer used.
1.1.3. Financial fixed assets
Financial fixed assets Amounts x € 1,000
Balance as at 1-1-2015 Other changes Balance as at 31-12-2015
Total
1,134
0
1,134
The financial fixed assets refer to a capital interest in Stadion Amsterdam CV of 1/9 share of the limited capital. The valuation of this capital interest is valued at the acquisition price or current value if lower.
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1.1.4. Current assets, receivables
Current assets, receivables Amounts x € 1,000
2015
2014
Receivables
Trade receivables
18,343
18,582
Allowance for doubtful debts
‑1,467
‑1,554
16,876
17,028
Other receivables
4,773
3,422
Accrued assets
7,513
8,719
29,162
29,169
The accrued assets include, among other items, costs paid in advance to the amount of € 1,948,423 (2014 € 2,041,189) and paid personnel costs for future exhibitions to the amount of € 5,563,838 (2014 € 5,152,259).
1.1.5. Shareholder equity
For an explanation of the mutations in the shareholder equity in 2014 and 2015, see the notes on the company annual accounts of RAI Holding B.V. (see 4.1.2.). There were no direct changes in the shareholder equity during the financial year.
1.1.6. Provisions
Provisions Amounts x € 1,000
Deferred
Other
Total
taxes Balance as at 1-1-2015 Allocation Withdrawal Balance as at 31-12-2015
1,342
2,100
3,442
0
387
387
‑834
‑887
‑1,721
508
1,600
2,108
The passive deferred tax consists of the differences between commercial and tax-based valuation.
The other provisions mainly involve individual redundancies, a provision for long-service payments and other personnel-related provisions. The above provisions, with the exception of the individual redundancies, are mainly of a long-term nature.
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1.1.7. Long-term liabilities
Long-term liabilities Amounts x € 1,000
2015
2014
Loans Deutsche Bank Nederland N.V.
26,000
26,000
Loan Coöperatieve Rabobank Amsterdam U.A.
26,000
26,000
Loan Triodos Bank
268
283
Loan Klimaatfonds Amsterdam
100
100
7,583
7,726
Other liabilities
59,951
60,109
Principle
Payment in
Amount
book year
remaining
Loan Deutsche Bank Nederland N.V.
27,000
1,000
26,000
Loan Coöperatieve Rabobank Amsterdam U.A.
Overview of long-term loans As on 31 December, amounts x € 1,000
27,000
1,000
26,000
Loan Triodos Bank
290
22
268
Loan Klimaatfonds Amsterdam
100
0
100
8,504
143
8,361
Other liabilities
62,894
2,165
60,729
778
Minus short-term part of long-term liabilities
62,894
2,165
59,951
In 2013 the RAI entered into a credit agreement with Deutsche Bank Nederland N.V. and Coöperatieve Rabobank Amsterdam U.A. This credit agreement comprises an overdraft facility of € 30 million as well as two loans totalling € 56 million (50% Deutsche Bank Nederland N.V. and 50% Coöperatieve Rabobank Amsterdam U.A.) until 2020.
The rate of interest on the loans is Euribor + 1.80%.
In 2013 the RAI entered into an interest swap agreement, based on which RAI Holding B.V. pays an interest rate of 1.54% over an amount of € 52 million.
The business premises at Europaplein have been mortgaged as security for the repayment of the long-term debts and overdraft facility.
A credit agreement with the Triodos Bank for the financing of solar panels was concluded in 2014. It consists of a loan of € 0.29 million for the period until 1 January 2034. The loan is being repaid in 79 quarterly terms, starting 1 July 2014. The interest rate is 3.5% on an annual basis for the period until 17 January 2026.
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A credit agreement to finance solar panels was concluded with the Amsterdam Investment Fund of the Municipality of Amsterdam in 2014. It consists of a loan of € 0.1 million for the period until 5 March 2029. The loan will be repaid at the latest by 5 March 2029 and the interest rate is 0%.
The other long-term debts consist of a lump-sum payment received in 1988 from the Municipality of Amsterdam for the operating losses of the Convention Centre in the period until 2038. This lump-sum payment was acquired in the past for an interest of 7.46%. This lumpsum payment is mainly of a long-term nature. The release benefits the operational costs. The annual interest increase is at the expense of the financial revenue and expenditure.
1.1.8. Short-term liabilities
Short-term liabilities Amounts x € 1,000
2015
2014
10,771
8,258
Bank overdrafts Short-term part of long-term liabilities
778
2,785
Advance payments
22,686
20,874
Debts to suppliers
6,941
5,676
359
0
Corporation tax Other taxes and social security contributions
426
1,122
11,068
10,995
53,029
49,710
Accruals and deferred income
The accruals and deferred income largely consist of receivable invoices for made costs at the amount of € 7,615,345 (2014 € 7,440,824) and accruals and deferred income related to personnel at the amount of € 3,169,456 (2014 € 3,467,112).
Off-balance sheet information
1. There are no contractual commitments under tenancy agreements ( 2014 € 38,325) 2. No bank guarantees were issued (2014: none). 3. There are operating lease commitments for 46 (2014: 52) cars. At the end of the financial year the contractual commitments totalled € 810,719 (2014: € 872,916), of which € 339,443 is due within one year. The remainder is due within five years. 4. Liabilities within the framework of the construction of the multifunctional parking garage amount to € 11,189,000, which is due in its entirety in 2016. 5. The total liability for the long-term land lease (until 2028) amounts to € 5,943,895 of which € 457,223 is due within one year. An amount of € 2,286,113 is due within five years. The remainder involves the period 2021 to 2028. 6. RAI Holding B.V. is the leading company of a group that is treated as a single entity for corporation and turnover tax purposes. The other members of the group are: RAI Amsterdam B.V., RAI Solar Energy B.V., RAI Amsterdam Catering B.V., RAI Langfords B.V. and Arfora B.V. Each company is severally liable for the liabilities of the fiscal entity.
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Financial tools
The risks associated with the financial tools are clarified below.
Credit risk In order to manage the credit risk, exposure is constantly monitored and acted upon. There was no major concentration of credit risks at the end of the financial year. Credit risks relate to debtors and other short-term receivables. Sufficient provisions were included accordingly.
Currency risk There are no substantial currency risks as the operational cash flows and financing activities mainly take place in euros.
Interest risk Interest risks mainly concern long-term loans. Amsterdam RAI B.V. has interest rate swap contracts to cover interest risks. In order to fix the interest rates, interest rate swaps amounting to € 52 million at the end of 2015 were concluded in 2013 for the period until 2020. RAI Amsterdam B.V. pays an interest rate of 1.54% on the interest swap with Deutsche Bank Nederland N.V./Coöperatieve Rabobank Amsterdam U.A. A variable interest rate of three months Euribor plus an individual surcharge is paid on the bank overdrafts. The amounts covered by the interest swaps are smaller than or equal to the outstanding principle of the loans from Deutsche Bank Nederland N.V./Coöperatieve Rabobank Amsterdam U.A. On 31 December 2015 the interest swaps had a fair value of minus € 2,969,000 (2014: minus € 3,971,520). The nominal value will be reduced to zero over the remaining interest swap period (until 2020).
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Notes on the consolidated profit and loss accounts 2015 2.1.1. Turnover
Turnover Amounts x â&#x201A;Ź 1,000
2015
2014
By geographical area
117,478
114,736
8,673
5,013
126,151
119,749
By activity
Exhibitions and events
56,871
47,464
Letting to third parties
18,102
22,280
Catering
15,547
15,108
Parking
5,898
4,496
Hotel commissions
3,285
3,443
24,334
24,826
2,114
2,132
126,151
119,749
2014
The Netherlands Other countries
Facility Services Other
2.1.2. Costs of outsourced work and other external costs
Costs of outsourced work and other external costs Amounts x â&#x201A;Ź 1,000
2015
Exhibitions and events
27,012
21,406
Letting to third parties
1,743
29
Outsourcing costs
6,634
4,585
Catering
4,791
5,058
Personnel
7,253
6,818
Marketing costs
5,995
3,924
Other
5,186
3,589
58,614
45,409
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2.1.3. Personnel costs
The Board of RAI Holding B.V. consists of one person. Based on Article 383 section 1 book 2 from the Netherlands Civil Code, the salary is therefore not included in this statement.
The salary paid to Supervisory Directors (four on average) amounted to € 106,682 (in 2014: € 102,068, four on average).
Average number of employees FTEs, working for the group
2015
2014
375
384
2015
2014
Building costs
7,809
7,116
Agency costs
715
837
Automation costs
4,042
3,948
Consultancy costs
2,067
1,924
In the Netherlands
2.1.4. Other operational costs
Other operational costs Amounts x € 1,000
Travel, accommodation and representation costs Other personnel costs Other general operational costs
898
866
1,248
1,685
255
869
17,034
17,245
Auditors’ costs
In accordance with Article 382a Book 2 of the Netherlands Civil Code, an amount of € 76,550 (2014: € 72,400) is due to BDO Audit & Assurance B.V., of which € 70,000 (2014: € 68,000) related to the annual audit, and € 6,550 to other audit assignments.
2.1.5. Interest expenses and similar costs
Interest expenses and similar costs Amounts x € 1,000
Interest expenses
2015
2014
3,260
3,372
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2.1.6. Taxes
Taxes Amounts x â&#x201A;Ź 1,000
2015
2014
1,469
1,007
Tax deferral changes
0
33
Settled taxes and other securities
0
â&#x20AC;&#x2018;8
1,469
1,032
Tax charged based on the commercial result
Tax charged in the profit and loss account
The effective taxation rate over 2015 is 25.8%, which is in line with the generally applicable tax rate in the Netherlands.
The effective tax burden over 2014 is 8.8% which is lower than the average nominal tax rate in the Netherlands. This is the result of the application of the fiscal incentive contribution within the framework of the environmental investment deduction for the new construction of RAI Amsterdam B.V. and the realised liquidation loss due to the liquidation of EC Zuid Limburg B.V.
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.1. Company balance sheet (before appropriation 4 of results) Company balance sheet Before appropriation of results, amounts x â&#x201A;Ź 1,000
ref.
ASSETS
Fixed assets
Financial fixed assets
4.1.1.
108,042
103,828
108,042
103,828
LIABILITIES
Shareholder equity
4.1.2.
Issued capital
2,730
2,730
Share premium
22,006
22,006
Other reserves
57,733
50,738
Unappropriated profit
4,214
9,257
86,683
84,731
Provisions
4.1.3.
0
7,620
Debts
Debts to group companies
4.1.4.
21,359
11,477
108,042
103,828
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2015
2014
5.1. Company profit and loss account Company profit and loss account Amounts x â&#x201A;Ź 1,000
2015
2014
Company result after taxes
0
0
4,214
9,257
4,214
9,257
Result from participating interest after taxes Net result
The corporate profit and loss account has been drawn up in accordance with Article 402 of Book 2 of the Netherlands Civil Code.
The financial data of RAI Holding B.V. is included in the consolidated annual account. As a result, the profit and loss account of RAI Holding B.V. only states the share in profits after taxation of participating interests and the other result after taxes, in accordance with Article 402 of Book 9 of the Netherlands Civil Code.
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Notes on the company balance sheet as on 31 December 2015 4.1.1. Financial fixed assets
Financial fixed assets Amounts x â&#x201A;Ź 1,000
Participation in
group companies Balance as at 1-1-2015 Result
103,828
4,214
Dividend
0
108,042
Balance as at 31-12-2015
The company owns 100 percent (unless otherwise stated) of the shares in the following major participations: RAI Amsterdam B.V., Amsterdam; Arfora B.V., Amsterdam; RAI Langfords B.V, Amsterdam. The company had a 100% interest in EC Zuid Limburg B.V. This company was liquidated on 20 March 2014.
The company RAI Langfords B.V., Amsterdam was liquidated on 31 December 2015.
The results of these group companies include those of the following indirect participations (100%): RAI Solar Energy B.V., Amsterdam; RAI Amsterdam Catering B.V., Amsterdam; RAI USA, Inc., Delaware; Rui Ang Exhibition and Convention Co., Ltd., Shanghai. The companies in the USA and China were established in 2013.
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4.1.2. Shareholder equity
Shareholder equity Amounts x € 1,000
Share capital
Balance as at 1-1-2014
Share
Other
Unapprop.
premium
reserves
profit
Total
77,714
2,730
22,006
49,686
3,292
Appropriation of profit
0
0
3,292
‑3,292
0
Result book year
0
0
0
9,257
9,257
Dividend
0
0
‑2,240
0
‑2,240
2,730
22,006
50,738
9,257
84,731
84,731
Balance as at 31-12-2014
Balance as at 1-1-2015
2,730
22,006
50,738
9,257
Appropriation of profit
0
0
9,257
‑9,257
0
Result book year
0
0
0
4,214
4,214
Dividend
0
0
‑2,262
0
‑2,262
Balance as at 31-12-2015
2,730
22,006
57,733
4,214
86,683
The authorised capital is € 13,650,000, divided into 225,000 ordinary ‘A’ shares and 75,000 ordinary ‘B’ shares, each having a nominal value of € 45.50. Of these, 45,000 ‘A’ shares and 15,000 ‘B’ shares have been issued and fully paid up.
4.1.3. Provisions
Provisions Amounts x € 1,000
Balance as at 1-1-2015 Allocation Reversal
Provisions
7,620
0
7,620
Balance as at 31-12-2015
0
The provision for 2014 involves a provision for the negative shareholder capital of RAI Langfords B.V. This company was liquidated on 31 December 2015.
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4.1.4. Debts to group companies
Debts to group companies Amounts x â&#x201A;Ź 1,000
Debts to
11,477
9,882
group companies Balance as at 1-1-2015 Mutation Balance as at 31-12-2015
21,359
As was the case in 2014, no interest is charged on the debts to group companies.
Personnel
As was the case in 2014, RAI Holding B.V. did not employ any staff in 2015.
Off-balance sheet information
Letters of liability in accordance with Article 403 of Book 2 of the Netherlands Civil Code have been issued and deposited for the participating interests in RAI Amsterdam B.V., RAI Solar Energy B.V., RAI Amsterdam Catering B.V. and RAI Langfords B.V..
Amsterdam, 17 March 2016
The Executive Board,
Hans Bakker, CEO
The Supervisory Board,
Roelf de Boer, chair John Van der Steen, vice-chair Annemarie van Gaal F.I.M. Ferry Houterman Shulamith Rijxman
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Other information
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Proposal for the appropriation of profit Company statutes
Article 24 of the company statutes states the following regarding the appropriation of profit.
Article 24.
1. In addition to several other reserves, the company can keep a general reserve, a share premium reserve A, a share premium reserve B, a dividend reserve A, and a dividend reserve B in its books. The respective rights to these reserves go to owners of shares A and shares B, pro rata to the number and type of shares they own. 2. Payments to shares A and shares B that exceed the nominal value of those shares are added to the share premium reserve concerned. 3. Without prejudice to that determined elsewhere in this article, the distributable profit is freely at the disposal of the General Meeting for the payment of dividend, reservations or other such purposes within the companyâ&#x20AC;&#x2122;s goal as determined by the General Meeting. 4. The General Meeting can determine, with the prior approval of the owners of shares of the type concerned, to not pay profit on those shares but to reserve that part of the profit and add it to the dividend reserve A or B respectively. Payment against dividend reserve A or B respectively can only be made to the owners of the type of shares concerned if the General Meeting determines as such after prior approval by a meeting of those owners. 5. Without prejudice to that determined elsewhere in this article, if the General Meeting decides to reserve profit or pay dividend on all shares regardless of the type, equal amounts of the profit will be reserved or paid as dividend. 6. The company can only make payments to shareholders and other parties that have a right to the payable profits insofar as the shareholder capital is larger than the paid and requested part of the capital increased by the reserves that must be applied in accordance with the law or statutes. The shares kept in the capital of the company are not included in the calculation of the appropriation of profit. 7. Appropriation of profit will occur after the determination and approval of the annual accounts which show that payment is permissible. 8. The General Meeting is authorised to determine payments on one or multiple interim dividends, with due regard to point seven. 9. Unless the General Meeting determines another date, dividends are payable immediately after determination. 10. The right to claim for payment of dividend lapses after a period of five years.
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Proposal for the appropriation of profit
Management proposes the General Meeting pay a dividend of â&#x201A;Ź 2.277 million over the year 2015. The result after tax over 2015 is included in the unappropriated profit item under shareholder equity.
Events after the balance sheet date
None.
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Independent auditor’s report To: the shareholders, Executive Board and Supervisory Board of RAI Holding B.V.
Report on the audit of the financial statements 2015
Our opinion We have audited the financial statements 2015 of RAI Holding B.V., based in Amsterdam. The financial statements include the consolidated financial statements and the company financial statements.
In our opinion, the enclosed financial statements give a true and fair view of the financial position of RAI Holding B.V. as at 31 December 2015 and of its result for 2015 in accordance with Part 9 of Book 2 of the Dutch Civil Code.
The financial statements comprise:
1. the consolidated and company balance sheet as at 31 December 2015; 2. the consolidated and company profit and loss account for 2015; and 3. the notes comprising a summary of the applicable accounting policies and other explanatory information.
Basis for our opinion We conducted our audit in accordance with Dutch law, including the Dutch Standards on Auditing. Our responsibilities under those standards are further described in the ‘Our responsibilities for the audit of the financial statements’ section of our report.
We are independent of Name B.V. in accordance with the Verordening inzake de onafhankelijkheid van accountants bij assuranceopdrachten (ViO) and other relevant independence requirements in the Netherlands. Furthermore, we have complied with the Verordening gedrags- en beroepsregels accountants (VGBA).
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Responsibilities of management and the Supervisory Board for the financial statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with Part 9 of Book 2 of the Dutch Civil Code. Furthermore, management is responsible for such internal control as management determines is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to errors or fraud.
As part of the preparation of the financial statements, management is responsible for assessing the company’s ability to continue as a going concern. Based on the financial reporting framework mentioned, management should prepare the financial statements using the going concern basis of accounting unless management either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. Management should disclose events and circumstances that may cast significant doubt on the company’s ability to continue as a going concern in the financial statements.
The Supervisory Board is responsible for overseeing the company’s financial reporting process.
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Our responsibilities for the audit of the financial statements Our objective is to plan and perform the audit assignment in a manner that allows us to obtain sufficient and appropriate audit evidence for our opinion.
Our audit has been performed with a high, but not absolute, level of assurance, which means we may not have detected all errors and fraud.
Misstatements can arise from errors or fraud and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The materiality affects the nature, timing and extent of our audit procedures and the evaluation of the effect of identified misstatements on our opinion.
We have exercised professional judgment and have maintained professional scepticism throughout the audit, in accordance with Dutch Standards on Auditing, ethical requirements and independence requirements. Our audit included e.g.:
Identifying and assessing the risks of material misstatement of the financial statements, whether due to errors or fraud, designing and performing audit procedures responsive to those risks, and obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from errors, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control; Obtaining an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control; Evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management; Concluding on the appropriateness of management’s use of the going concern basis of accounting, and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company ceasing to continue as a going concern; Evaluating the overall presentation, structure and content of the financial statements, including the disclosures; and Evaluating whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with the Supervisory Board regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant findings in internal control that we identify during our audit.
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Report on other legal and regulatory requirements
Other information This report includes, next to the financial statements and our opinion thereon, other information. This other information consists of:
In brief Statement of the Supervisory Board Executive Board report Governance and risk management Other information
Pursuant to legal requirements of Part 9 of Book 2 of the Dutch Civil Code and the auditing standards we report that:
we have no deficiencies to report as a result of our examination whether the management board report, to the extent we can assess, has been prepared in accordance with Part 9 of Book 2 of the Dutch Civil Code, and whether the other information as required by Part 9 of Book 2 of the Dutch Civil Code have been annexed. the management board report, to the extent we can assess, is consistent with the financial statements. we have nothing to report regarding the other information other than the management board report and the other information.
Our opinion on the financial statements does not include the other information and we do not express an opinion or other assurance conclusion on the other information. As part of our audit on the financial statements and based on the auditing standards, it is our responsibility to read the other information. We have to assess whether there are any material inconsistencies between the other information and the financial statements. In order to do so, we use the obtained audit evidence of audit of the financial statements and the conclusions drawn in our audit. We also determine whether the other information in other ways seems to include material deficiencies. If we conclude, based on the procedures performed, that the other information includes a material deficiency, we are required to report this matter.
Management is responsible for the preparation of the other information including the preparation of the management board report and the other information on page nr in accordance with Part 9 of Book 2 of the Dutch Civil Code.
Amstelveen, 17 March 2016
For and on behalf of BDO Audit & Assurance B.V.,
O. van Agthoven RA
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#07
Enclosure
120
Personal details for Management and Works Council At the end of the year
Amsterdam RAI Management Executive Board A.J. Bakker, General Director
Finances M. Roodenburg, Financial Director
RAI Exhibitions I. Boersma, Director Exhibitions Th. Lingmont, Director International Exhibitions M.H.W. Visser, Director Marketing and National Exhibitions
RAI Convention Centre J. van den Bosch, Director Production & Facilities M. van der Sluis, Director Commerce M.A. van Nierop, Director Operations
Legal department P.H. Bottema-Sanders, also company secretary
Amsterdam RAI Works Council E. Kayser, Chairman G.C. van Bemmel, Interim Chairman J.C.A. Visser J.P. ten Kleij C.J.M. van Gastel H. Rosenberg H. de Vries R. Stokvis P. van Waegeningh R.J. van Schooten P. Lucassen H.A.M. Schouten, official clerk
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Colophon Published by RAI Amsterdam, Corporate Communication
Concept and realisation Toebosch Consult in cooperation with De Man Beheer en Advies
Photography Delux Luifoto NFP Photography OTTI Fotografie Van Yperen Fotografie
Print Mullervisual Communication
Website Developed in Kirra Jaarverslag
Contact RAI Amsterdam welcomes your reactions to the Annual Report via corcom@rai.nl
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Copyright The information in this Annual Report may be copied stating the source as â&#x20AC;&#x2DC;Jaarverslag RAI Holding B.V. 2015â&#x20AC;&#x2122;.
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RAI Amsterdam Europaplein Amsterdam P.O. Box 77777 1070 MS Amsterdam The Netherlands Tel. +31 20 549 12 12 Fax +31 20 646 44 69 www.rai.nl
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