Annual Report Goudappel Coffeng 2010 by Goudappel Coffeng

2010  2011 Annual Report



Sustainable Innovation

Goudappel Coffeng

Organisation Chart

Stichting Goudappel Coffeng Beheer

Stichting Administratiekantoor Goudappel Coffeng

Goudappel Coffeng Holding BV

Tiem BV

Goudappel Coffeng BV

GC Belang BV

Omnitrans International BV

MAPtm BV (60%)

Beheersmaatschappij Goudappel Coffeng

Report by the Supervisory Board

As the Supervisory Board we believe that the title of the Group’s annual report for 2010 is an excellent choice. Sustainable innovation is the key to a healthy future for Goudappel Coffeng. For us, the company’s continuity is paramount. We believe that developing new products and services and finding sustainable solutions to mobility issues should be the pillars of the Group’s strategy going forward. The Group will also need to expand its international operations. This requires defining and pursuing a clear vision and strategy that includes ideas for sustainable innovation and reflects an international approach - challenges that will be taken up in the years ahead. The 2010 financial statements have been audited by PricewaterhouseCoopers Accountants, who have issued an independent auditors’ report. Both documents are included in this Annual Report. Given the challenging market conditions, caution and care have been the cornerstones of the oversight that we exercise. That includes the company’s profit distribution policy. We have approved the Management Board’s proposal to retain the net profit for 2010, and pay out the proposed final dividend of ¤ 0.25 per share. This brings the total dividend for 2010 to ¤ 4.25 per share. The responsibility of the Supervisory Board is to supervise the business and affairs of the company and the policies pursued by the Management Board. We render advice to the Management Board. Our mandate includes, without limitation: -- ensuring the company’s continuity and encouraging continuous innovation and research, whilst monitoring international developments -- achieving the objectives of the company and related businesses -- monitoring the company’s internal risk management and control systems and strategy -- monitoring the process of preparing the financial statements -- legal compliance -- fostering relations with shareholders and holders of depositary receipts for shares -- fostering relations between the company and its workforce -- keeping abreast of social issues that are relevant to the company. In 2010 we held four meetings with the Management Board. To get to know the various group companies, we also joined the Management Board on a visit to the company’s office in The Hague, where we met management and staff and discussed business developments and their expectations for the future. We also spoke with the Management Board of Omnitrans International. Outside these meetings, we regularly consulted with the Management Board on a variety of topics. We appreciate the constructive and open manner in which these discussions and consultations took place.

We also held talks with the Works Council to discuss relations between the company and its workforce and we read the minutes of the consultative meetings between the Works Council and Management Board. We wish to express our appreciation of the manner in which the Works Council operates and represents the interests of the company and its staff. We consider it vital that the HRM function should be the object of further professional development. We are pleased to note that major steps were taken in that regard in 2010. Strong commitment from staff is important for any organisation. Investing in an excellent, dedicated team of people has definitely made a contribution to Goudappel Coffeng’s performance in a stagnating market. In our 2009 report, we anticipated that 2010 would be a challenging year. After several years of growth, the company was unable to achieve its financial targets in 2010. Cuts in government spending and the economic downturn led to a shrinking of the market, which in turn affected the company’s financial performance. Non-recurring items also had a negative impact. The spending cuts will continue to have an impact on the company’s financial position in 2011. This point of concern has the Management Board’s ongoing attention and will be a permanent item on the agenda of our meetings with the Board. We endorse the Management Board’s policy to continue to invest in new products and services and improve their quality. This is necessary to achieve the company’s strategic objectives and ensure its continuity. We also accept that it is strategically important that the slowdown in market growth in the Netherlands should be partly compensated for by acquiring interests in other companies, national and international. The financial policies pursued up to now will allow the company to do so responsibly. We are confident that the Management Board will make every effort to strike a proper balance between costs and benefits, whilst at the same time having regard to staff development. Mindful of its social responsibilities, Goudappel Coffeng launched activities in the fields of spatial planning and sustainable mobility, making improvements and publishing articles, as well as rendering its own operations more sustainable. In 2010 our search for a third supervisory director was successful. We are pleased to announce that Pieter Hofstra will be appointed to the Supervisory Board from 1 March 2011. Mr Hofstra has a strong track record in mobility, infrastructure and the environment, both as a manager and sociopolitically. He brings with him a wealth of experience. We would like to thank all staff and the Management Board for their efforts and dedication and the results achieved in 2010. If the Management Board and staff succeed in delivering innovative and sustainable products and services in 2011, we are confident that Goudappel Coffeng will be able to consolidate and expand its strong position as a leading consulting firm in the Netherlands and abroad. Supervisory Board

Deventer, The Netherlands, 22 April 2011

Peter Prein (Chairman) Toon van Asseldonk Pieter Hofstra

2010

Goudappel Coffeng

Ă? Annual Report 2010

Report by the Management Board Financial review

The value of the company in a broader perspective

1. Customers

2. Staff

3. Innovation

4. Internal

Outlook

Financial Statements

Consolidated balance sheet at 31 December 2010

Consolidated income statement for 2010

Consolidated cash flow statement for 2010

Notes to the consolidated balance sheet and income statement

Company balance sheet at 31 December 2010

Company income statement for 2010

Notes to the company balance sheet and income statement

Other information

Profit appropriation according to the Articles of Association

Proposed profit appropriation

Independent auditorsâ&#x20AC;&#x2122; report

Report by the Management Board

For the first time after a series of profitable years, Goudappel Coffeng Holding was unable to achieve its budget targets in 2010. The financial crisis, weak economic conditions and cuts in government spending had a noticeable impact on our performance from the second half of the year. Operating profit (before profit appropriation) came to 7.1%, remaining below the 9.5% target. It should be added that operating profit was adversely affected by two exceptional items, an early retirement scheme for staff and the start-up loss made by newly incorporated group company MAP Traffic Management BV (MAPtm). Looking ahead, we do not expect market conditions to recover substantially in 2011 and have set a 7% profit target. In the first six months of 2010, the company continued to perform above target but then saw its order book and billable time decline markedly in the second half of the year. Moreover, the largest operating company, Goudappel Coffeng BV, also had to cope with project write-downs due to project acquisition efforts and a consequent fall in revenue below target in the second half of the year. Because the average fee rates achieved were fairly high, the immediate effects of this decline were limited, although fee rates did come under pressure. This was particularly noticeable in master agreements, where ‘competitive’ rates sometimes fell far below cost. In 2010 fee revenue amounted to ¤ 21,952,000, which was more than ¤ 300,000 (2.1%) short of the budget target. However, the average number of FTEs was up 4.3% on 2009. In 2010 consultants’ billable time was 68.5%, an average of 2.7 percentage points below budget and below the levels reported in 2008 and 2009. As stated, the reduced order intake led to more efforts being channelled into developing new business, although this did not produce an adequate company-wide order portfolio in the course of the year. This led to a reduction in billable time and also caused project write-downs due to cost overruns, quotation costs and rate differences to exceed the target level. At year-end, write-downs were approximately two percentage points up on the level reported in 2009, although we had seen a gradual increase since 2009. Normalised operating profit stood at ¤ 1,389,000 in 2010, down 3.8% on 2009. Despite the sluggish secondment market, Tiem BV, one of our operating companies, exceeded its targets in 2010. As for Omnitrans International BV, sales abroad were quite disappointing but additional software sales in the Netherlands helped revenue recover to slightly above target.

Over the next few years, we expect productivity per employee to stabilise, with zero organic growth expected in 2011. The cuts in government spending will remain an important point of concern in the coming period. There are as yet no signs to suggest that volumes on the Dutch market are likely to increase. Accordingly, project acquisition costs will remain relatively elevated for the time being, fuelled by the fact that fee rates have also come under strong pressure. On the upside, the company is well in control of its processes and operations. Adequate and reliable management reports are available at the right time. Projects managers are supported by financial project controllers to ensure timely billing and up-to-date monitoring of project budgets. Although the Dutch government and local authorities will remain an important customer for us, one with a reliable payment record, we cannot afford to sit back. We will continue to work to improve project control in order to cope with the economic crisis and the cuts in government spending. The strong position of procurement departments and the increased use of master agreements make a clear positioning of Goudappel Coffeng essential, including in our dealings with leading engineering consultants in the Netherlands. We increasingly work for the Dutch government and local authorities indirectly, as a subcontractor to these firms. In the spring of 2010, the content and division of the directors’ portfolios were reviewed to bring them into line with the company’s strategic and growth ambitions. From 2010 onwards, the directors’ portfolios will cover the following focus areas: Markets, Acquisitions & Organisational Development, and Strategy & Innovation. In 2010 the brand profile and brand values were given further shape, both inside and outside the company. Our ambition to be the number one firm in the field of mobility issues is widely embraced within the organisation. In many areas, we feel that we are already the number one firm. This is not surprising, given our role as market leader. As a company, we are committed to strengthening this position, working cleverly and with passion, always forward-looking. We will continue to invest in new products and services. In particular, we are planning a substantial investment in data integration to bring together and improve the accessibility of a wide array of mobility and spatial planning data for use in our consultancy activities. We will also continue to develop activities to achieve our key strategic targets for the period up until 2013 (creating visible influence, helping customers throughout the process, developing an international network, introducing other revenue models, delivering relevant and reliable information and, generally, driving quality forward). Starting from 2011, we will explore new ways of encouraging our staff to take even greater ownership of the company’s strategic targets. Looking ahead, we do not expect to achieve any organic growth on the Dutch market in 2011. However, our international activities are expected to generate some growth in the form of acquisitions within the foreseeable future. Although the company is in a good cash position and we have access to sufficient bank credit facilities to be able to make the necessary investments in 2011, investment levels will be reviewed against the results achieved in the course of 2011 and be revised downwards if necessary and possible.

Goudappel Coffeng BV In the spring of 2010, the Traffic Architecture and Policy Instruments divisions were merged and brought under the responsibility of a single member of the Management Board. Goudappel Coffeng BV now has five regional divisions that provide general traffic and transport consultancy services: Amsterdam, The Hague, Deventer, Eindhoven and Leeuwarden – and four specialist consultancy divisions: Research & Development, Geographical Applications, Traffic Management and Applied Modelling. Our regional office at De Ruyterkade in Amsterdam officially opened on 23 April. The event was attended by some 100 customers and business partners from North Holland, Utrecht and Flevoland. We made the right choice in setting up an office at this location, given the growth in revenue and workforce already achieved in 2010. The Amsterdam office is used regularly as a meeting point for and by customers. It is not only easy to reach by public transport, but also situated in a splendid location on the waterfront. As we anticipated in 2009, the market fall caused by the economic crisis and cuts in government spending hit hard in the last six months of the year. In the first two quarters of 2010, Goudappel Coffeng BV still performed above target, but then fell well below target during the rest of the year. However, not all divisions reported a decline in profit. Most specialist divisions managed to produce good results in 2010. Helping customers make better use of existing infrastructure, Traffic Management delivered a satisfactory performance in 2010. With a healthy order intake, the division maintained its profit at the target level throughout the year. Applied Modelling saw its order intake decline gradually in the course of the year, due to building projects coming to a standstill and the late availability of the New Regional Model (NRM) developed by Rijkswaterstaat. Despite these difficult circumstances, the division acquired enough business to turn another satisfactory profit in 2010. Geographical Applications also delivered a good performance, developing innovative policy instruments mainly for provincial authorities, government departments and RWS. In addition, the division made inroads into the EU noise mapping market. The division had a busy workload and made a fine profit in 2010. Research & Development went through a difficult year. In a stagnating market, local authorities clearly tended to contract out fewer research projects. Competition for the limited number of projects available was therefore fierce. On a positive note, the division completed several eye-catching projects in 2010, including “SpitsScoren A15”, a project to encourage drivers to avoid a particular stretch on the A15 motorway and receive a 5 euro reward in return, and the Climate Policy and Sustainable Mobility Guide for municipal authorities (see also In The Limelight on page 19). The Field Work cluster had a full order book at the beginning of 2010, but saw its order intake drop off considerably in the course of the year. Key customers of Goudappel Coffeng’s five regional offices include all Dutch towns and cities. The volume of projects carried out for municipal authorities declined substantially in 2010. This was partly offset by master agreements signed with, amongst others, the provincial authorities of North Holland, South Holland and Overijssel. However, not all regional offices were successful in achieving their revenue targets. The Eindhoven office did well in 2010, but its order portfolio fell to a critically low level by the end of the year.

The Hague office had already been suffering a low order intake and reported a profit that was substantially below target. The Amsterdam office delivered an excellent performance in what is perhaps the most dynamic region of the Netherlands. The Leeuwarden office also reported fairly good results, despite the economic recession. The largest of the five regional offices, in Deventer, failed to perform on target. It provides general traffic and transport consulting services, but also houses the specialist clusters of Public Transport, Strategic Planning, and Spatial Design. For the Deventer office, 2010 was a year of transition, with a lot of attention being paid within the company to streamlining the activities of the various units. We do not think that we will see a quick return to the large-scale construction of new roads, residential areas, offices and so on which made up a substantial part of our work before the crisis. Instead, projects are becoming more complex and more integrated, involving consultations with many people to ensure that planning, redevelopment and regeneration processes are not implemented at the expense of existing natural and other values. This requires expert knowledge on the part of our consultants, as well as communication skills, strategic thinking and process skills. Tiem BV Tiem reported excellent results in 2010, both financially and in terms of organisational development. Its financial performance was remarkable, given that the cuts in government spending prompted many customers to put on a freeze on outsourcing. We feared that many secondment contracts might be terminated and that the outsourcing market would shrink. Assigning highly skilled staff and investing in their professional and personal development bore fruit: customers were, in fact, very keen to keep on staff loaned by Tiem. This has strengthened Tiem in its belief that delivering high quality always pays off. The number of new projects declined in the course of the year but stood at a sufficient level at the end of 2010 to be able to look forward to 2011 with optimism. The correlation between process and technical expertise, as reflected in the Tiem brand name, was strengthened in 2010. Most of the process managers have a technical background in the companyâ&#x20AC;&#x2122;s areas of work, whilst the technical consultants are increasingly acquiring the skills needed to fulfil a strong process role. Technical advice will always, of course, ultimately support a decision. Because of their interest and involvement in the management processes of customers, staff loaned by Tiem make an essential contribution to good decision-making. By combining process and technical expertise, Tiem offers its customers great value. In 2010 Tiem continued to roll out The New Way of Working, which fits its business structure and culture seamlessly. The New Way of Working gives greater responsibility to employees and expects them to take greater responsibility. On their part, management have to let go and trust that the arrangements made will work out well, which makes for quite a challenge. Against this background, Tiem is involved in talks with customers over how to provide direction to staff. Tiem is looking forward excitedly to 2011 and beyond. One thing that is certain is that customers have a need for the services it provides. The challenge is to stay creative and offer attractive service propositions. Tiemâ&#x20AC;&#x2122;s growing role as a process manager will only add value to those services.

Omnitrans International BV The fall in the market triggered by the financial crisis had a noticeable impact on Omnitrans International in 2010. Foreign sales were less than expected, remaining well below target. Partly for that reason, the Dutch market continued to dominate the company’s revenue in 2010, enabling it to achieve its financial targets. In 2009 Omnitrans International set up a new organisational structure, which in addition to Marketing and Sales introduced the Development, Concepts and Maintenance departments. The new organisation ran smoothly in 2010. The Development department is responsible for developing new versions of the OmniTRANS software. In 2010 it released the 6.0 beta version, which has many new features. Releasing new versions on time and on budget calls for ongoing monitoring. That is why in 2010 we began using a new development method involving ‘sprints’. According to this principle, each member on the development team is given responsibility for a particular part of a sprint within a particular time-boxed period. Once a sprint is completed, a full and new version will be available. We expect to be able to reap the first benefits of the sprint concept in 2011. Concepts achieved its targets for 2010. However, project write-downs were high and the order portfolio fluctuated strongly. Looking ahead, Concepts will focus on improving process control and portfolio continuity in 2011. The Maintenance department is responsible for managing existing customer contacts. It made several improvements to its processes, including implementing a standard procedure for new OmniTRANS software releases, remote support, and customer support via Skype. Communications with end-users have improved further as a result. In 2010 Marketing & Sales developed a new website (www.omnitrans.com). It also hosted user days for the Dutch and UK markets, including a dealer day in Deventer. In 2010 targeted marketing efforts fell short of the marketing plan developed in 2009. This will be improved in 2011. Belgian-based MINT NV In 2010 Goudappel Coffeng expanded its share interest in MINT by 5% to 35%. The growth achieved by MINT in the past few years stabilised. MINT specialises in transport models and traffic planning and has evolved into a solid business, employing sixteen professionals. It is now well positioned to serve the Flemish market. In 2010 its software modelling team focused on developing municipal transport models, using OmniTRANS as a key tool. In 2010 transport models were built for the towns of Kortrijk, Diest, Sint-Truiden, Hasselt and Genk. Traffic Planning was involved in preparing mobility impact reports, master plans, and parking studies. MAPtm April 2010 saw the start-up of MAPtm, in which we own a 60% interest. Located at Goudappel Coffeng’s office in The Hague, MAPtm has rapidly developed into a professional company with ten employee, serving the operational traffic management market and carrying out projects for towns and cities, RWS regional offices, and various road construction companies. MAPtm also works closely with the Traffic Information

Service [VerkeersInformatieDienst; VID]. In 2010 MAPtm captured media attention with imaginative projects and an award-winning publication on speed checks using Bluetooth. Although it made a loss in 2010, MAPtm was successful in acquiring interesting projects in its first year of operation, so much so that we feel the company made a very promising start indeed. Financial review Goudappel Coffeng Holding was unable to achieve its financial targets in 2010. The company ended the year with less-than-expected profit results, which were substantially lower than in previous years. Operating profit (before profit appropriation) was 7.1%, remaining well below the 9.5% target. Operating profit was adversely affected, however, by two exceptional items (not budgeted for): the start-up loss made by MAPtm, incorporated in 2010, and the costs of an early retirement scheme for staff. That does not alter the fact that we were unable, as a company, to achieve our long-term operating profit target of 8%-10%. Nor do we expect to be able to meet that target in 2011, due to difficult and tight market conditions and the investments we need to make in innovation and strategy. We expect to make an operating profit of 7% in 2011. Return Return on investment (ROI) was 13.2% in 2010; we had expected 18.5%. For 2011 we are looking to achieve an ROI of 10.6%. Return on investment Normalised operating profit / (tangible fixed assets + net working capital) Revenue and billable time Fee revenue in 2010 amounted to ¤ 21,952,000, more than € 300,000 (2.1%) short of our budget target. In 2009 fee revenue had been € 22,093,000. The fall in revenue was driven mainly by the decline in order intake.

The average number of FTEs increased by 4.3% from 229 to 239 in 2010. Project writedowns exceeded the target set for 2010. Write-downs caused by cost overruns, quotation costs and rate differences were approximately two percentage points up on the level reported in 2009. We have witnessed a gradual increase in project write-downs since 2009. Consultants billed fewer hours in 2010 than they did in 2008 and 2009. Total billable time was 2.7 percentage points below target. Consultants’ total billable time fell from 70.7% in 2009 to 68.5% in 2010, not taking into account the hours spent on OmniTRANS software innovation. The average number of direct hours per consultant decreased from 1,218 in 2009 to 1,140 in 2010. Over the next few years, we expect productivity per employee to stabilise, with zero organic growth expected in 2011. Operating profit In 2010 normalised operating profit (excluding exceptional items) amounted to € 1,389,000, down 3.8% on 2009, mainly driven by lower productivity, higher investments in innovation, and the increase in project write-downs and other operating costs. In 2010, as in 2009, operating profit included a profit-sharing arrangement for staff and a bonus scheme for the members of the Management Board (involving a total of € 600,000 in 2010 and € 1,295,000 in 2009). The return, i.e. normalised pre-tax profit as a percentage of revenue, came to 6.2% (2009: 6.4%).

Toegevoegde waarde Added value per FTE fell by 1.2% from € 26,200 in 2009 to € 25,900 in 2010, mainly as a result of the difference in project write-downs in 2010 and 2009. Although productivity was also lower, this was offset by an increase in fee rates achieved. Moreover, the company invested approximately € 200,000 more in innovation in 2010 than it did in 2009. Salary costs per fee-earning FTE rose by approximately 2.6% compared to 2009, while the net hourly rate improved from € 86.70 in 2009 to € 89.80 in 2010. In 2010 Goudappel Coffeng Holding’s FTE composition (i.e. the distribution of FTEs across the various consultant levels) remained virtually unchanged from 2009.

Funding structure At year-end 2010, solvency amounted to 44.2%, up six percentage points on 2009. Goudappel Coffeng aims to achieve a minimum solvency ratio of 25%, which it has done since 2007.

In 2010 net cash flow amounted to € 645,000. The operating activities generated a cash inflow of € 1,800,000, partly offset by cash outflows for investments in tangible assets (€ 476,000), repayments of long-term debt (€ 247,000), dividend payments, and the repurchase of treasury shares (€ 482,000). In 2010 average project duration decreased considerably compared to previous years, standing at approximately 83 days in 2010, below the minimum target level of 90 days.

Depositary receipts for shares All shares in Goudappel Coffeng Holding are held by Goudappel Coffeng’s Trust Office [Stichting Administratie Kantoor; STAK]. STAK issues depositary receipts for those shares to the employees of Goudappel Coffeng Holding BV and its wholly-owned operating companies (Goudappel Coffeng BV, Omnitrans International BV, and Tiem BV). We give our staff the opportunity to buy depositary receipts as a means of increasing their commitment to the company. STAK aims for all staff to own an equal interest in the company.

Ownership in Goudappel Coffeng

depositary receipts

depositary receipts available

holders

132,320

1 January 2010

120,100

161

31 December 2010

122,089

156

At present, depositary receipts are not evenly distributed between members of staff, with 50% of staff holding 90% of all depositary receipts. In 2010 STAK put forward proposals to increase staff ownership of depositary receipts and encourage a more even distribution. By the end of 2010, the value of the depositary receipts had risen from ¤ 40.90 to ¤ 43.50. A dividend of ¤ 4.25 was paid for 2010, ¤ 2.00 of which as a stock dividend.

value per depositary receipt + dividend payout

Year

Value at 1 January

Dividend payout

2008

€ 35.00

€ 4.70

2009

€ 35.00

€ 4.50

2010

€ 40.90

€ 4.25

 The value of the company in a broader perspective 1. Customers Goudappel Coffeng advises and assists a wide array of public sector customers in the Netherlands in finding solutions to mobility and spatial planning issues. We have traditionally held a strong position on the municipalities market. However, the relative share of projects assigned by municipalities has been in decline for some years now. In 2010 31% of the company’s revenue came directly from municipal customers, compared to 35% in 2009. In absolute terms, that is a reduction of more than 8%. In contrast, the share of projects carried out for regional and provincial authorities increased substantially from 18% in 2009 to 25% in 2010. The share of revenue accounted for by private sector customers fell slightly from 25% to 23% in 2010. The share of revenue from services rendered to the Dutch Ministry of Transport and other government departments remained stable at 10%. In 2010 Goudappel Coffeng had 595 customers, with average revenue per customer down more than € 43,000 on 2009. Business partners A specialist provider of mobility and spatial planning services, Goudappel Coffeng works closely with a variety of business partners, ranging from engineering firms to urban developers, architects, and management consultants through to process managers and IT companies. We terminated our membership of NL Ingenieurs, the Dutch association of engineering firms, from 1 January 2011. The company’s profile is clearly that of a consulting firm. We find that we increasingly complement engineering firms, rather than being their competitor. This profile has proved beneficial, particularly for projects carried out by a consortium, such as on the basis of a master agreement.

Customers 2010

Customers of OmniTRANS transport modelling software

Transport model coverage 2010

Secondments 2010

Selection of customers in 2010 Academisch Medisch Centrum, Accountinghouse Gemeente Enschede, Adviesburo Nieman, Advin, Agentschap NL, Ahold Vastgoed, Algemene Woningbouwvereniging Monnickendam, Almere Landdrost, Altrecht Geestelijke Gezondheidszorg, AM Real Estate, AM Wonen, Amsterdam RAI, Amsterdam Waterfront, APPM Management Consultants, ARCADIS, Arriva, Artgineering, ASR Vastgoed Beleggingen Stedelijk, ASR Vastgoed Ontwikkeling, Aveco de Bondt, B.A.G. Architecten, Ballast Nedam, BAM, Bedrijvenschap HarnaschPolder, Benthem Crouwel Architekten, Betuws Bedrijvenpark, Bever Holding, Beverwijkse Bazaar, BGB Ontwikkeling, Bloemenveiling Aalsmeer, Boekel De Nerée, Boele & Van Eesteren, Boersma adviseurs, Bogor Projectontwikkeling, BOOT Organiserend Ingenieursburo, Bouwaccent, Bouwcombinatie New Babylon, Bouwfonds, BPF Bouwinvest, Brabanthallen, Breijn Stedelijke Infra, BRO, Bügel Hajema, Buiten-Mere Properties, Bureau Kartografie en GIS, Bureau Verkeershandhaving Openbaar Ministerie, Burgland Projectontwikkeling, Buro SRO, BVA, BVR, Commissie voor de Milieueffectrapportage, Connection, Connekt, Corio, CROW, DataCount, DC Vastgoedontwikkeling, DCMR, De Amersfoortse, De Goldenburgh, De Principaal, De Rotterdam, De Verkeersonderneming, Decisio, DekaMarkt, DHV, Dienst Amsterdam Beheer, DTV Consultants, DUPON, Dura Vermeer, Dynamivast Planontwikkeling, EBH Elshof Advocaten, EconStruct, Ecorys, Eurocommerce, European Commission, Exploitatiemaatschappij De Quack, Fietsberaad, Fietsersbond, Fietsparkeur, FiMek estate, FloraHolland, Formido, Fortress Projectontwikkeling, GEM Schuytgraaf Beheer, Gemeenten: Aalsmeer, Aalten, Abcoude, Alkmaar, Almelo, Almere, Alphen aan den Rijn, Amersfoort, Amstelveen, Amsterdam Projectbureau Zuidas, Stadsdeel Amsterdam-Centrum, Stadsdeel Amsterdam-Noord, Stadsdeel De Baarsjes, Stadsdeel Oost-Watergraafsmeer, Stadsdeel Slotervaart-Overtoomseveld, Stadsdeel Westerpark, Stadsdeel Zuidoost, Apeldoorn, Arnhem, Assen, Baarn, Barneveld, Beemster, Bergen, Bergen op Zoom, Berkelland, Bernheze, Best, Beuningen, Beverwijk, Binnenmaas, Blaricum, Bloemendaal, Boarnsterhim, Borne, Boxmeer, Boxtel, Breda, Brielle, Bunschoten, Buren, Bussum, Capelle aan den IJssel, Castricum, Cuijk , Dalfsen, De Bilt, De Ronde Venen, Delft, Den Haag, Deventer, Diemen, Doesburg, Doetinchem, Dongen, Dongeradeel, Dordrecht, Druten, Duiven, Edam-Volendam, Ede, Eemnes, Eindhoven , Enkhuizen, Ermelo, Franekeradeel, Geldermalsen, Geldrop-Mierlo, Gemert-Bakel, Gennep, Giessenlanden, Goes, Goirle, Gorinchem, Gouda, Groningen, Haaksbergen, Haarlem, Haarlemmerliede en Spaarnwoude, Haarlemmermeer, Halderberge, Hardenberg, Harderwijk, Heemskerk, Heemstede, Heerhugowaard, Heerlen, Hellendoorn, Hellevoetsluis, Helmond, Hendrik-Ido-Ambacht, Heusden, Hilversum, Hoogeveen, Hoogezand-Sappemeer, Hoorn, Houten, IJsselstein, Kaag en Braassem, Kampen, Katwijk, Kerkrade, Koggenland, Krimpen aan den IJssel, Landerd, Lansingerland, Leeuwarden, Leiden, Leidschendam-Voorburg, Lelystad, Lingewaard, Loenen, Loon op Zand, Maarssen, Maasdonk, Maassluis, Maastricht, Menterwolde, Meppel, Middelburg, Middelharnis, Midden-Delfland, Mill en Sint Hubert, Montferland, Muiden, Naarden, Nieuwegein, Nieuwkoop, Nijmegen, Noordoostpolder, Nunspeet, Oegstgeest, Oldenzaal, Olst-Wijhe, Ommen, Oostflakkee, Oss, Oud-Beijerland, Oude IJsselstreek, Ouder-Amstel, Overbetuwe, Papendrecht, Pijnacker-Nootdorp, Purmerend, Raalte, Renswoude, Rheden, Ridderkerk, Rijssen-Holten, Rijswijk, Roermond, Roosendaal, Rotterdam, Schagen, Scherpenzeel, Schiedam, Schoonhoven, Schouwen-Duiveland, ’s-Hertogenbosch, Sint Michielsgestel, Sint Oedenrode, Sittard-Geleen, Smallingerland, Sneek, Spijkenisse, Steenwijkerland, Tiel, Tilburg, Twenterand, Uthoorn, Utrecht, Utrechtse Heuvelrug, Veere, Veghel, Veldhoven, Velsen M&O, Venlo, Venray, Vlaardingen, Vlissingen, Voorschoten, Voorst, Vught, Waalwijk, Waddinxveen, Waterland, Weesp, Westervoort, Westland, Weststellingwerf, Wierden, Wijchen, Wijdemeren, Woerden, Wormerland, Woudenberg, Zaanstad, Zandvoort, Zederik, Zeist, Zevenaar, Zoetermeer, Zuidplas, Zundert, Zutphen, Zwartewaterland,Gemeentelijk Havenbedrijf Rotterdam, Gerechtshof Amsterdam, Green Park Aalsmeer Gebiedsontwikkeling, Groene Hart Ziekenhuis, Grontmij, Havenschap Moerdijk, HB Berenschot, HBB, Heijmans, Hein Schilder Groep Volendam, Henselmans Bouwbedrijf, Hornbach Bouwmarkt, IJburger Maatschappij, Infomil, Ingenieurscombinatie Utrecht, Interface for Cycling Expertise, Intergemeentelijk Samenwerkingsorgaan Midden-Holland, Interprovinciaal Overleg, Interveni Vastgoed Advies, Intomart, IntROview, IT & T, ITS, Jeroen Bosch Ziekenhuis, Kamer van Koophandel Amsterdam, KEMA, Kennisplatform Verkeer en Vervoer, Ko Hartog Verkeerstechniek, Kolpa Architekten, Kragten, KuiperCompagnons, Laride Bouwmanagement, LIDL, Loostad, M+P, maxwan, McDonald’s, Megaborn, Meyer en Van Schooten Architecten, Midstate, Milieudienst IJmond, Milieudienst Regio Eindhoven, Ministerie van Binnenlandse Zaken en Koninkrijksrelaties, Ministerie van Defensie, Ministerie van Economische Zaken, Landbouw en Innovatie, Ministerie van Verkeer en Waterstaat, Ministerie van VROM, MINT, Movares Nederland, Westerscheldetunnel, Nationale Hogeschool voor Toerisme en Verkeer, Neerbosch Vastgoedontwikkeling, Nieuw Holland Projectontwikkeling, Nieuwe Gracht, Niroc, Noordanus & Van Driesten Rentmeesters, NOVI Verkeersacademie, NS, OBV, Ontwikkelingsbedrijf &2=1, Ontwikkelingsbedrijf Gemeente Amsterdam Noordwaarts, Ontwikkelingsbedrijf Gemeente Amsterdam, Ontwikkelingsbedrijf Veenendaal, Ontwikkelingscombinatie Genemuiden, Ontwikkelingscombinatie Park Allemansgeest, Oranjewoud, OWIN, Peak Development, Peek Traffic, PFC2, Phanos Vastgoed, Planbureau voor de Leefomgeving, Plegt-Vos Infra & Milieu, Praxis, Prince Project Management, Prisma Bleiswijk, Programmabureau Utrecht Bereikbaar, Projectbureau A2 Maastricht, Projectbureau De Volgerlanden, Projectbureau ViA15, Projectbureau Wieringerrandmeer, ProRail, Provincies Drenthe, Fryslân, Gelderland, Groningen, Limburg, Noord-Brabant, Noord-Holland, Overijssel, Utrecht, Zuid-Holland, Rabo Bouwfonds, Rangelrooij Consultancy, RBOI-Rotterdam, Regios: Achterhoek, IJssel-Vecht, Rivierenland, Twente, Regionaal Orgaan Verkeersveiligheid Gelderland, Regionale Ontwikkelingsmaatschappij Drechtsteden, RET, Rijkswaterstaat Data-ICT-Dienst, Rijkswaterstaat Dienst Verkeer en Scheepvaart, Rijkswaterstaat IJsselmeergebied, Rijkswaterstaat Limburg, Rijkswaterstaat Noord-Brabant, Rijkswaterstaat Noord-Holland, Rijkswaterstaat Oost-Nederland, Rijkswaterstaat Utrecht, Rijkswaterstaat Zeeland, Rijkswaterstaat ZuidHolland, Rijnboutt, Rijnhart Wonen, Royal Haskoning, SAB Arnhem, SADC Management, Samenwerkingsorgaan Holland Rijnland, Schiphol, Schouten De Jong, Siemens, SpitsScoren, Stadsgewest Haaglanden, Stadsregios: Amsterdam, ArnhemNijmegen, Rotterdam, Stijlgroep landschap en stedelijke ruimte, Stuurgroep Bloemendalerpolder, SWOV, Tauw, Technische Universiteit Delft, Technolution, Ter Steege, The Stadium Consultancy, Trimp & van Tartwijk, TRITEL, Leidschendam, Van der Vorm Vastgoed, Vastgoed Beheer Nederland, VCC Oost, Vestia, Vialis, ViNU consult, Vlek Verkeerslichten, GZG, VTN, WERV, Witteveen + Bos, Woningstichting Westwaard Wonen, Woonstichting De Key, Ymere, Zeevast, Ziekenhuis Lievensberg

New business In 2010 we submitted 170 proposals to prospective customers. These led to more than 100 projects, around 8% of the more than 1,350 projects acquired in 2010. What our customers say Since 2005 we have gauged customer satisfaction on completion of each project, including through written customer surveys. In 2010 we sent out 360 evaluation forms, 132 of which were returned. At 35% this was a similar response rate to that in 2009. The surveys show that customers are generally satisfied with the products and services we deliver. The expertise of our consultants and the usefulness of their advice are particularly appreciated. We follow up one in every four questionnaires to see how we can improve on our performance. Additional focus will be targeted to ‘delivering on time’ and improving the ‘quality of our reports’, given that their quality still falls short of customer expectations.

Products and services Goudappel Coffeng offers a wide variety of products and services. The share of applied modelling has risen steadily in the last few years, from 10% in 2006 to 15% in 2010. Similarly, revenue from infrastructure studies has increased substantially over the last five years, from 4% in 2006 to 11% in 2010. Service offerings in the field of public transport hit the 5% mark for the first time in 2010. Research & evaluation and process & policy advice accounted for less than 5% of revenue in 2010.

Share of revenue by product or service

In the limelight 130 kilometres per hour The 2010 government coalition agreement includes plans to increase the speed limit from 120 km/h to 130 km/h on a number of stretches of motorway. Goudappel Coffeng has a unique set of in-house computer tools that can be used to calculate the impact of such a measure on a regional scale. Given the simplicity of the measure and the governmentâ&#x20AC;&#x2122;s wish to press ahead with it, we decided to do a few calculations of our own accord, necessary to make a proper decision, and to volunteer the results. The large amount of positive and negative publicity raised was surprising and only strengthened our ambition to be influential in our field of work as an independent consulting firm. Rush-hour avoidance schemes In 2010 Goudappel Coffeng and several partners set up two general partnerships [VOFs] to carry out rush-hour avoidance projects. Commissioned by De Verkeersonderneming, a combined initiative of the Port of Rotterdam, City of Rotterdam and RWS, VOF SpitsScoren operates a rush-hour avoidance scheme on the A15 motorway south of Rotterdam. The project encourages drivers to avoid the morning peak on the A15 by providing a financial incentive. The project was a huge success in 2010. Considerably more drivers avoided the morning rush-hour than the expected number of 525 per weekday. De Verkeersonderneming has therefore decided to expand the project substantially in terms of its budget and target audience. In late 2010 a consortium made up of BNV Mobility, Goudappel Coffeng and Technolution also won the Sudoku tender to put in place a peak-hour avoidance scheme for the province of Utrecht. The Spitsvrij scheme aims to change the behaviour of motorists to improve traffic circulation on the A1, A27 and A28 motorways within the Rijnsweerd, Eemnes and Hoevelaken triangle. Evaluation of the Mobility Management Taskforce Commissioned by the Ministry of Transport and the Ministry of Public Housing, Spatial Planning and the Environment (which have since been combined to form the Ministry of Infrastructure and the Environment), Goudappel Coffeng worked together with PricewaterhouseCoopers to review the results of the Mobility Management Taskforce. Led by Lodewijk de Waal, the Taskforce was set up by the social partners and local authorities. By encouraging and concluding voluntary agreements with national and regional employers, the Taskforce aims to reduce car use by employees during the rush hour. The policy review shows that the Taskforce has in fact set in train mobility management in a large number of regions. The review findings also show that mobility management measures have had a positive impact on the number of car journeys during the rush hour and have made a contribution to reducing congestion. On balance, the Taskforce achieved an approximate 1.5% reduction in car journeys by employees of the businesses that took part in the scheme (the reference date being April 2010). Climate Policy and Sustainable Mobility Guide Climate policy is increasingly gaining ground among local authorities. A growing number of towns and cities wish to eventually become carbon neutral. Because traffic and transport account for more than 20% of CO2 emissions, many local authorities feel that

this sector also needs to contribute to reducing its carbon footprint. Goudappel Coffeng has prepared a guide for NL Agency, the governmentâ&#x20AC;&#x2122;s knowledge and innovation centre, to help local authorities gain an understanding of the policies and measures they can adopt to achieve reductions in mobility-related CO2 emissions. The guide is intended for use by climate coordinators and staff working in municipal traffic and transport departments. It can be downloaded from the websites www.agentschapnl.nl, www.duurzameoverheden.nl, and www.duurzaamopweg.nl. National impact assessment of environmental zones for HGVs On 1 July 2007 eleven towns and cities put in place environmental zones for heavy goods vehicles in an attempt to reduce poor air quality hotspots. In 2010 Goudappel Coffeng was again invited by NL Agency to chart the impact of these environmental zones on air quality. The impact assessment study used the findings of a large number of licence place registration studies, which were inputted into the NSL monitoring tool developed by us. Our calculations have shown that the environmental zones are likely to be reasonably effective and to contribute to resolving NO2 hotspots by 2015. Environmental zones have been found to reduce PM10 levels released by traffic by several percent. The share of PM10 emissions accounted for by road traffic is a measure of the expected impact on public health. Although environmental zones will lead to a reduction in NO2 emissions from 2013, there has been little or no change so far (2010) compared to the situation prior to the introduction of the zones. This is mainly due to the fact that the new generation of lorries produce hardly any less NOx than the older generations did and because particle filters have a negative impact on NO2 levels. Sensor City Assen Goudappel Coffeng is taking part in a consortium that will carry out the Sensor City Assen project initiated by the province of Drenthe and the town of Assen. The aim of the project is to increase the use of sensor system technology. The system will be based on real-time traffic data from various sources, combined with real-time transport models and online pay services. The challenge for the project will be to bring together information obtained from a variety of sources (loops, cameras, satnav systems and mobile phones). Motorists can then be advised and managed and the use of the road network and parking facilities improved. Online monitoring of traffic flows and direct communication with drivers will allow local authorities to respond quickly to changing road conditions. Proposed uses include the management of event-related traffic in the vicinity of the motorcycle race track in Assen and improving the accessibility of the town centre (including intelligent parking guidance). The other consortium partners are TNO, Quest TC, DySI, MagicView, NXP, ParkingWare, Elevation Concepts, OV9292, Parkingware, Peek Traffic, and Mobuy. The project will run for three years. Traffic information configuration management for RWS In 2010 Goudappel Coffeng won the European tender from RWS for traffic information configuration management. Over the next few years, Goudappel Coffeng in partnership with sister company Omnitrans International will keep the configurations updated of the RWS traffic monitoring systems that form part of its online traffic information chain. These involve the Monica (lane information) and Monibas systems (carriageway information and road section detector data), the configuration of the detector locations in BOSS Online (a critical support system for traffic management staff), and the RWS configuration of the National Road Traffic Information Database [NDW]. 20

bicycle catchment areas (Velsen)

European rail transport study In 2010 Goudappel Coffeng conducted an international study for Danish State Railways (DSB) aimed at identifying the drivers for success of passenger rail transport. Using our international academic network, we looked at passenger rail developments in Europe and the underlying variables. We specifically examined the impact of the construction of railway stations. We also looked at social and demographic trends, network design, timetables and quality of service (journey times, reliability, comfort). The study provides an understanding of the possibilities and opportunities for growth in passenger rail transport in Europe. Mobility vouchers for small and medium-sized enterprises Under the SME Mobility Vouchers programme, small and medium-sized businesses are eligible for financial support to put mobility measures in place to reduce commuter traffic by their employees. Mobility management measures can cut costs, solve parking problems, improve corporate social responsibility, and provide for more flexible commuting. Goudappel Coffeng is supporting the programme by scanning potential opportunities and working out in greater detail those measures likely to be the most successful. Our consultants have been selected by NL Agency to support SMEs that are taking part in the scheme. We identify potential opportunities for them using our Mobility Management Scan, which logs journey times and suggests alternative transport modes for SME employees.

2. Staff Workforce On 31 December 2010, Goudappel Coffeng had 274 employees, up 0.7% on 2009. In the course of 2010, 25 employees left the company and 27 were hired. Of these 27 new employees, several had previously been on loan or employed as final-year students. In the second half of the year, the inflow of new staff came to an end due to the decline in order intake, with the outflow of staff causing a slight reduction in the total workforce. Due to the recruitment of younger employees, the average age remained stable at 38. The male/female ratio also remained virtually unchanged from previous years.

Terms of employment A new collective agreement for 2010 and 2011 was adopted early in 2011. The Management Board and Works Council worked together constructively in drafting the new terms. The new agreement places greater emphasis on employeesâ&#x20AC;&#x2122; own responsibility. It also provides for improved WIA/WGA disability insurance for staff, and includes various incentives for bicycle or public transport commuting. Training & education At Goudappel Coffeng, we continually invest in improving the knowledge and skills of our staff. In 2010 4,664 hours were spent on training and education, an average of more than 12 hours per employee. This mainly involved internal or external in-company training courses designed to improve social and consultancy skills and technical and process skills. Course evaluations were conducted in 2010. On a scale of 1 to 10, the personal and consultancy skills training courses received an average score of 8.1, with the technical (internal) courses rated 7.4. The involvement of heads of department was cited as an important area for improvement. Heads of department are expected to work with their staff to define and review learning targets. The training courses are a crucial link in that process.

The new 2010 training plan offers revised courses that have been adjusted to better reflect the job levels and personal development and wishes of our staff. Staff at Omnitrans International will continue to require extra training because of the rapidly evolving ICT market. In 2010 managers at Goudappel Coffeng attended a management development course, with a view to ongoing professional development and collaboration between our managers. The training course was an important step towards a smoothly operating management team. Promotions In 2010 19 members staff were promoted. Trainees In 2010 nearly all trainees completed their three-year traineeship. They have gone on to work as general consultants at Goudappel Coffeng BV or as junior project managers at Tiem. In 2011 we will decide on how these traineeships should be continued.

In 2010 Goudappel Coffeng employees (86) attended the following conferences and symposiums.

Light rail Conference - Polis conference innovation in transport for instainable city regions - Werkconferentie Visie Regionaal Openbaar Vervoer - Nationale Mobiliteitsdag - gebruikersdag PTV Vision Modelsoftware - Bereik! congres Kijk gewoon eens verder!- Bevolkingskrimp in Noord Nederland: een ramp voor de Retail? - BNSP Jaarcongres - Wat is de betekenis van ontplanning en veranderkunde voor de stedebouw na de crises? - Brainport Eindhoven - Geluid Trillingen en Luchtkwaliteit - Connecting Cars and Companies at the Intertraffic – CRM - CROW XL - CVS 2010 - Dag van de lightrail - Dag van de Rail - De bereikbaarheidsambities van Brabant De elektrische auto, een hype? - De psychologie van het overtuigen – Ecomobiel - Ervaringsdag Infrawerken - European Transport Conference - FREILOT - Urban Freight Energy Efficiency - Gebiedsontwikkeling Lelystad Airport : Duurzaam en innovatief - Geomilieu gebruikersdag - Getting Communities Back on their Feet - Walk21 & ICTCT conference - Gisconferentie 2010 - Inspiratiesessies en Conferentie Fiets in de Versnelling - Intertraffic Jaarcongres Railforum - KpVV Netwerkdag - KpVV Themabijeenkomst Openbaar vervoer naar bedrijventerreinen - Large Scale and Real-Time Traffic Models: calibration, validation and application - Lotusphere - Luchtkwaliteit bij tunnelmonden - Maatschappelijk Verantwoord Ondernemen - Min of meer - KiM-symposium over trends, gedrag en mobiliteit - Minisymposium ‘Ruimtelijke kwaliteit rond infrastructuur’ – Mobiliteitsmarkt - Nationaal Congres Openbaar Vervoer - Nationaal Congres Vitale Stad -Nationaal Openbare Ruimte Congres - Nationaal Openbare Ruimte Congres 2010! - Nationaal verkeerskundecongres - Nationaal Verkeersveiligheidscongres NVVC - Nationaal Wegencongres 2010 - Nederlandstalige project development workshop Interreg IVB NWE Nieuwe businessmogelijkheden door de BAG - Facility Management Nederland - NRM 2010 voor de markt - NRW Lunchbijeenkomst - NSG-geluidhindermiddag - Omgaan met Macht en (interne en externe) Politiek - Onderweg Naar Morgen: perspectief op duurzame mobiliteit - Oog voor de klant - Op weg naar verkeersveiligheid - Organise smart testing, an ITS testbed (Intertraffic) - Parkeren is het nieuwe fileprobleem? - Pedestrian Logistics Analyzing Tool - Platos-colloquium - Praktijkcongres Interne Communicatie - Preconference Seminar ArcGIS en OpenGIS, samen op één lijn - Presentatie lichte en slimme voertuigen - ProRail Innovatie Festival - PROVADA - P+R met meer - Regiobijeenkomst Innovatieregeling mooi Nederland - Regional Science Association International: Special track accessibility - Reizigersoverleg Brabant - Samen op koers- Seminar Krimp - Seminar Leidinggeven en toch thuis het vlees snijden - Slimmer werken, eerder thuis - Shared space: respect of regels? - Slim werken en slim reizen experience- Sneller & Beter - Stationslocaties - Stedenbaan en de business cases vervoer en vastgoed - Studiedag Verkeerslichten - International Symposium on Dynamic Traffic Assignment - Thema-/ Lunchbijeenkomst NRW over dynamische winkelgebieden - Themabijeenkomst fietsverkeer en brede scholen Themabijeenkomst Geo 2020 - Themamiddag ‘Hoe groen is de groene auto?’ - Trail Masterclass RT Traffic Models -Transportation Research Board 90th Annual Meeting - Trefpunt van knennis(se) West Nederland - TRISTAN VIIVelo-city Global - Verkeer en milieu werken samen - Verkeer en Mobiliteit 2010 (B) - Verkeer en Mobiliteit 2010 (NL) - Verkiezingsdebat Verkeer en Milieu - Vulnerability and Reliability Analysis - Werkbijeenkomst lectoraat Area Development

Health In 2010 there was less absenteeism than in 2009, although the annual outbreak of flu had a clear impact on absenteeism levels, especially in November and December. A tightening of our absenteeism policy and a more active role played by the health & safety doctor have enabled staff to resume their duties quicker on average.

Tribute to Henk Goudappel In the spring of 2010, the founder of our company, Henk Goudappel, was awarded a knighthood for his services to society. Important achievements in the areas of traffic, transport and planning were chronicled in a special publication, copies of which were distributed to all staff at Goudappel Coffeng. The book was an initiative by one of Henk Goudappelâ&#x20AC;&#x2122;s former students, the South African Das Steyn. With the publication of the book, Henkâ&#x20AC;&#x2122;s innovative ideas received the recognition they deserved.

3. Innovation To invest in innovation is to invest in the future. At Goudappel Coffeng, innovation is based on three pillars: strategy & education, R&D, and offering innovative projects for customers. In practice, of course, these activities overlap and influence one another. The backbone of our R&D operations is formed by our business strategy, staff training, and our relationships with colleges and universities. Our innovation efforts are given direction by our customers, staff, and trends in society. R&D focuses strongly on developing tools and methods that increase the quality and efficiency of our planning and consulting activities. Customers benefit directly from our innovative projects and project improvements. It is neither possible nor useful, within the bounds of an annual report, to provide an exhaustive list of all our innovation efforts. We would nevertheless like to give some examples of projects that reflect the way in which we give shape to innovation. A key strategic project is the one involving data integration. At Goudappel Coffeng, we aim to provide our customers with relevant and reliable information. This may seem stating the obvious, but given the turbulent developments in data mining and data distribution, this goal is assuming new relevance and importance, particularly in the light of the activities launched by companies such as Google, TomTom, and the National Road Traffic Information Database [NDW]. Over the next few years, large quantities of data will become available, allowing us to map road conditions and analyse the characteristics of traffic flows with increasing accuracy. Making this data accessible and exchangeable for the government and local authorities, and linking the data to our planning tools, is one of the innovative and strategic projects we are currently working on. These activities not only strengthen our excellent position on the Dutch market, but also allow us to prepare for the impact of the availability of this data on the planning practice of the future. Secondly, the companyâ&#x20AC;&#x2122;s ambition to expand internationally has not only had an impact in terms of our growing network of international partners, but is also making demands on the skills and expertise of our staff and their ability to adjust our planning tools for use abroad. Over the next few years, we will be making advances in staff recruitment, selection and training. Working in an international environment requires additional skills. Our staff will need to feel comfortable within an international planning setting to be able to seize the opportunities that are opening up. We have also developed tools in recent years that put a different angle on mobility and spatial planning issues. The traditional approach to traffic problems involves looking at capacities. The realisation that a shortfall in road capacity is also, to some extent, indicative of an efficient infrastructure has led to prioritising solutions for specific target audiences, modes, and destinations. Rather than taking road capacity as a basis, we are now focusing more on accessibility. The Accessibility Map [Bereikbaarheidskaart] was, in fact, one of our first tools to reflect and help quantify this shift in approach . To this, we added the Mobility Scan [Mobiliteitsscan], developed in partnership with KpVV, and the Mobility Management Scan [Mobiliteitsmanagementscan] in 2010. As part of our data integration projects in 2010, we made data accessible from the National Road Traffic Information Database, linking measured speeds and volumes on the main 27

road network to actual conditions shown in the Accessibility Map. To achieve this, we input new data sources into the Map, such as journey times from the NDW database and timetable information from the public transport database, so as to better reflect actual conditions on the roads. In the process, we also developed a Mobility Management Scan for use by companies to improve commuting times and company mobility, and the Mobility Scan, a tool that can be used to conduct exploratory studies into the impact of measures on local and regional mobility. Another activity undertaken in 2010 involved preparing for a national mobility panel. In partnership with the University of Twente, Goudappel Coffeng approached local authorities and market participants to investigate the feasibility of a national mobility panel. In late 2010, it became clear that there was in fact a need for such a panel and plans are now under way to set one up in 2011. In 2010 we worked with one of our business partners to conduct an exploratory study of the use of mobile telephone data to generate new forms of mobility information for local governments and new customer segments. The pilot proved very successful and will be followed up in 2011. Ongoing development of Accessibility Map In 2008 we posted our National Accessibility Map [Bereikbaarheidskaart] on the Internet. This was followed in 2010 by the introduction of the Mobility Scan, which can be consulted interactively and helps improve our understanding of how the use of space, mobility, and the environment interact. It allows professionals to explore the likely effects of changes to land use, mobility management and the infrastructure. Response times are so short that a range of analyses and impact calculations can be performed during the first few visits. The Scan can be used for local, regional and national analyses. Two pilots using the Mobility Scan have since been completed and preparations for other pilots are under way, focusing on parking and public transport. The backbone of the Mobility Scan is a simple transport model that is suitable for performing indicative calculations. The Scan also meets the statutory requirements for environmental calculations, as well as containing experience data on parking and trip movements. Every user has standard access to basic information from the National Accessibility Map about trip movements, networks, road section speeds and public transport journey times. An interesting feature of the Scan is that it allows the actual home addresses of employees to be used to estimate the benefits of mobility management. At the ESRI Conference 2010, the MapGallery Jury Prize was awarded to Mijke Romkema, a geographical applications consultant with Goudappel Coffeng, for her tempographical map. Mijke won the prize because of its attractive visual design. The map gives an impression of how the Netherlands is actually experienced, showing travel times rather than travel distances. The jury felt the Tempographical Map was a true eye-catcher. â&#x20AC;&#x153;Because the map itself is the central feature, with the text playing a more incidental role, the message comes across loud and clearâ&#x20AC;?. According to the jury, the map uses bold colours, but remains in balance, the novelty being the use of the element time as opposed to distance.

Tempographical Map

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In 2010 we developed a tool that uses microsimulation to process and analyse the most commonly used (i.e. non-signalised) types of junction. The strength of the VISSIM junction tool is that it allows all non-signalised junction types to be input into a single tool, making calculations easier and quicker and the results easier to compare. Because the calculations are based on microsimulation rather than algorithms, the tool produces reliable findings that are easy to interpret. Relations with the education sector At Goudappel Coffeng, we foster our relationships with Dutch education institutions that provide programmes in mobility and spatial planning. We offer traineeships and opportunities for final-year students to conduct research and write their dissertations. Several of our staff contribute to these educational programmes by giving lectures, sometimes taking on a full curriculum. Our staff also provide guest lectures at a large number of institutions. As an expert in the field, we regularly sit on accreditation and review committees that visit universities and other colleges. In addition, we provide support to those of our staff who are doing a doctoral research programme. In 2011 Matthijs Dicke-Ogenia will receive his PhD for his study of the psychological aspects of the way information is presented. As part of his doctoral work, Luc Wismans is developing a decision-making support system that deploys traffic management at a strategic level. In 2011 Niels van Oort will receive a doctorate for his research on how improvements in public transport reliability influence travellers. Thomas Straatemeier is conducting research on an alternative approach to accessibility so that planning policies can be better aligned to traffic and transport policies and vice versa. This approach looks at the space people and businesses need, rather than prioritising network efficiency. The concept has been tested in several projects in the Rotterdam-The Hague-Amsterdam area, the expansion plans for the town of Almere, and the New City Bridges project in Rotterdam. In 2010 Goudappel Coffeng reached agreement with Delft University of Technology to sponsor a professional chair in our field of work for a minimum period of four years. In mid-2011 we expect to be able to announce who will take up the chair. In 2010 the University of Twente awarded its Civil Engineering Graduation Prize 2010 to Bastiaan Possel, who completed his dissertation working as a trainee with us in September 2009 and is now a consultant in the Applied Modelling division. His graduation project involved designing a model that identifies the infrastructural measures that need to be taken in a road network to maximise accessibility and road safety whilst minimising the environmental impact. The jury praised his effort to reduce the complexity of his research to an understandable level when presenting his dissertation, adding that modelling calculations of this kind would be needed for future policy-making.

World Day event This year, our traditional biennial foreign excursion took place â&#x20AC;&#x2DC;abroad across the streetâ&#x20AC;&#x2122;. Instead of actually travelling abroad, we were visited by master students from Saxion University of Applied Sciences coming from various geographical backgrounds in Europe, Africa and Asia. During this World Day event, the students met with our staff to share knowledge at our Deventer office and across the street at the university building.

Corporate social responsibility Corporate social responsibility and sustainability are key themes for our internal processes as well as our consultancy work. For distances under 10 kilometres, many of our employees prefer to cycle to work rather than driving. The new collective agreement effective from January 2011 includes incentives to encourage the use of public transport rather than the car for longer distances. Employees who still choose to drive to work must pay a charge to use the car park at our Deventer office. The proceeds are then donated to the Iganga Foundation. We also place a monetary value on the fossil fuels we use to supply gas and electricity to our Deventer office (which we own), applying CO2 compensation standards. Like the parking charges, this amount is paid in full to the Iganga Foundation. Sustainable mobility is an important theme for our consulting activities. The Sustainable Mobility working group has gathered a great deal of expertise over time on how to approach target audiences on the issue. We are also increasingly advising customers on mobility management and The New Way of Working and conducting research on these topics. The Iganga Foundation The Iganga Foundation was established by Goudappel Coffeng as part of our efforts to run our business responsibly. In 2010 the Iganga Foundation focused on plans developed for Kampala (Uganda). Bicycle-inclusive planning is gaining wider acceptance locally thanks to the support provided to Amanda Ngabirano, a master’s degree student at Saxion University of Applied Sciences in Deventer, which included a working visit to Kampala to meet with and help other local residents. Kampala Cycling, the city’s cycling club, can play a role in raising awareness further. That is why the club received support from Iganga in 2010. The African Bicycle Network offers a platform for cycling organisations from Ghana, Kenya, Tanzania and Uganda for knowledge sharing and capacity building. The Iganga Foundation was one of the sponsors of the Network’s annual meeting. We also prepared a design portfolio to assist traffic designers in India and other emerging countries. The enthusiasm expressed by teachers and master’s degree students during the World Day event hosted in Deventer makes it clear that the Iganga Foundation has an important role to play in transferring knowledge of sustainable traffic and transport planning – knowledge made available by Goudappel Coffeng. In 2011 the Foundation will continue to focus on Kampala and strengthen its ties with the education sector.

4. Internal Financial and economic affairs In 2010 the Financial and Economic Affairs [FEZ] department continued to work on improving continuity, capacity and internal collaboration in order to monitor the companyâ&#x20AC;&#x2122;s financial targets. Its main objective is to ensure business continuity by delivering reliable information to other departments in a timely fashion. FEZ also contributed to improving the quality of our services, introducing a standard set of reports with weekly information on productivity and order intake, monthly and quarterly financial reports, and management analyses. It now also delivers services to MAPtm. In 2010 FEZ staff and project managers teamed up to improve the companyâ&#x20AC;&#x2122;s financial position by reducing project lead times substantially. The growing size and individual responsibilities of the various offices called for a change in the way project control is organised. Project managers now receive regular on-site support. The recruitment of two new members of staff contributed to this improvement. Also in 2010, preparations continued to streamline the administrative process and identify the tax aspects involved in timing the sale and purchase of depositary receipts for shares. This project will be worked out in greater detail in 2011. Knowledge centre In 2010 we expanded our facilities for digital working. The Omnifind search engine was installed to make the Lotus Notes databases and websites directly accessible. The setup and features of the facilities, including the e-mail functionality of the relationship database, were improved considerably in 2010. All of our staff are now authorised to input changes into the database, with final checks being made by the Knowledge Centre. In 2009 we introduced a conference database. Applications for leave to attend conferences and events can now be made directly through the database. With the recruitment of a new member of staff, staffing at the Knowledge Centre was brought back to adequate levels. In September 2010, in line with our strategic targets, we began work on a new tool that allows international networks to be visualised on a map. In addition to these projects, we made improvements to existing databases on a regular basis, either of our own accord or at the request of our customers. Quality assurance In late 2010 the quality assurance systems of Goudappel Coffeng and Tiem were audited by Certiked and found to be in good working order. Goudappel Coffengâ&#x20AC;&#x2122;s profile is that of a high-quality service provider and, according to Certiked, we live up to our name. Certiked noted that we employ a large number of young and enthusiastic professionals, even though the company has been in business for quite a while now. Converting our strategic targets into divisional plans remains an area for improvement. We will work to improve this from 2011 onwards. Quality awareness is also high among staff at Tiem. Management is aware that in the sector where Tiem operates, quality is a matter of individual responsibility. That is why we make every effort to retain and train our staff, and ensure that they enjoy their work.

Communication In order for Goudappel Coffeng to achieve its ambitions, it is vital that we increase our profile, strengthen our identity, and improve our corporate image. In 2010 the Communications department launched, supervised and supported a variety of initiatives that contribute to raising brand awareness. A new internal brand profile was presented in 2010, reflecting the company’s role as a leading service provider and our international and market-driven approach. Smart, committed, forward-looking and passionate – our brand values are slowly but surely becoming embedded in all aspects of our business. The new communications concept expresses unity of conduct, style and services. Goudappel Coffeng BV’s visual identity – or corporate style – was revamped in 2010, resulting in a fresh and state-of-the-art image and logo which is carried through in all of our communication and presentation tools. The new corporate style will be introduced companywide in early 2011. Facilities support The Facilities Support department provides facilities support to all of our operating companies, ranging from reception desk and telephone services, accommodation and computer helpdesk services through to printing, catering and cleaning. The majority of these services are provided under our ownership and organised centrally from Deventer. Additional decentralised services are provided by secretarial staff at our individual offices. Plans for a different housing concept at the Deventer office were fleshed out in 2010. The idea is to put work stations to more effective and more flexible use and to create more space for formal and informal meetings. The new plans have been presented to our staff. The new office environment places a different demand on our IT systems, which is why we are exploring the possibilities of digital (team) working. We are looking, in particular, for simple and efficient technical measures to support our consultants. The first step to enable flexiwork at all our offices has been taken, with access to the company’s network being improved and wireless networks being installed companywide. In 2010 our Amsterdam office was connected to our videoconferencing network, so that all our offices can now communicate through a video link. At the end of 2010, we also put in place our plan to turn IT into an independent staff department.

Outlook The effects of the financial crisis are substantial and impossible to predict. We do not expect a speedy economic recovery and the outlook for the Dutch market therefore remains uncertain. Although the need for mobility and spatial planning services will remain great, especially in a small and densely populated country like the Netherlands that is dealing with substantial traffic flows, the cuts in government spending are bound to have a considerable impact on the demand for those services. For Goudappel Coffeng, this means that 2011 will be a year of modest budgeting. We will need to find a new balance between the changes in demand from central and local government and the composition of our business units. Aligning individual expertise to market needs will become increasingly important. This process of change is in line with our ambition to be a leading service provider and to help our customers with a full service package. The implications of this choice will become visible in the coming years. There is no going back to how things used to be. There are challenging prospects ahead, but these are difficult times. It is not unlikely that the financial crisis has marked the start of a prolonged period of modest growth. And there are other trends in society that will have an important impact. The ageing population, changes in work processes due to digitisation, and the retirement of large groups of employees are all likely to affect the government and local authorities and influence mobility and spatial planning issues in the years to come. This makes it all the more important that we continue to strive to achieve our strategic targets for 2013. Clearly, the organisational innovation that we can achieve by exerting demonstrably more influence in our field of work and offering our customers a full-service proposition are the keys to the continuity of our business in the long term. These goals will further the personal and professional development of our consultants and increase their individual employability. Our international ambitions are also in line with the fundamental global changes that are taking place. It is vital that we become less dependent on the Dutch market. That is why we need to respond to opportunities provided abroad, including finding new markets to sell our modelling software. We fully intend to remain a â&#x20AC;&#x153;people businessâ&#x20AC;?. Good financial results are essential ingredients from the perspective of business continuity, but we will always try to strike a balance between the personal development of our staff and the responsibilities we have as Management Board. That explains why we sometimes do things that do not immediately turn a profit - just because it feels good. Not everything we do should be based on a cost-benefit analysis.

Jaap Benschop Tonny Bosch Peter van der Mede

Deventer, The Netherlands, 22 April 2011

Financial statements 2010

Consolidated balance sheet at 31 December 2010 (before proposed profit appropriation)

31 12 2010 €

31 12 2009

€

Tangible fixed assets (4.1)

5,506,778

5,631,450

Financial fixed assets (4.2)

373,367

348,900

€

Assets Fixed assets

5,880,145

5,980,350

Current assets Work in progress (4.3)

1,491,713

1,905,924

Receivables (4.4)

5,604,936

6,573,404

266,789

55,105

Other receivables and accrued income

604,017

804,145

Cash and cash equivalents (4.5)

808,420

162,830

Amounts owed by affiliates Taxation

8,564,191

9,713,092

14,444,336

15,693,442

31 12 2010 €

31 12 2009

€

6,499,170

6,184,968

49,996

€

Equity and liabilities Group equity Shareholders’ equity (4.6) Minority interests (4.7)

6,499,166

6,184,968

Provisions (4.8)

859,185

491,000

Long-term debt (4.9)

2,348,895

2,595,915

Short-term debt

Payables

1,079,940

1,626,453

Taxation and social security

1,339,933

1,559,611

Other payables and deferred income

2,317,217

3,235,495

4,737,090

6,421,559

14,444,336

15,693,442

Consolidated income statement for 2010

2010 造

2009

造

21,952,162

22,092,885

4,967,430

4,536,095

造

Revenue Fee revenue Revenue from other services

Total revenue

26,919,592

26,628,980

Operating costs Work contracted out Wages and salaries Social security costs (5.1) Depreciation (5.2) Other operating costs

4,393,814

4,015,360

13,127,313

13,563,156

2,443,691

2,267,909

577,076

744,726

5,264,311

4,534,579

Total costs

25,806,205

25,125,730

Operating profit

1,113,387

1,503,250

Finance income and costs (5.3)

(169,545)

(216,347)

943,842

1,286,903

(298,007)

(334,203)

after taxation

645,835

952,700

Minority interests

100,005

745,840

952,700

Profit on ordinary activities before taxation Tax on profit on ordinary activities (5.4) Profit on ordinary activities

Profit on ordinary activities after taxation

Consolidated cash flow statement for 2010 2010 造造造 Cash flow from operating activities: Operating profit 1,113,000 Adjustments for: Depreciation/amortisation of tangible/intangible fixed assets 577,000 745,000 Movements in provisions 368,000 50,000 945,000 Movements in working capital: Receivables 1,793,000 (8,907,000) Short-term debt (excluding bank credit) (1,684,000) 6,094,000 109,000 Cash generated from operations 2,167,000 Interest received/(paid) (170,000) (216,000) Corporation tax received/(paid) (298,000) (334,000) Minority interests 100,000 0 (368,000) Cash flow from operating activities 1,799,000 Cash flow from investing activities: Investments in financial fixed assets (24,000) (149,000) Investments in tangible fixed assets (452,000) (1,700,000) Proceeds from sale of financial fixed assets 0 0 Proceeds from sale of tangible fixed assets 0 0 Revaluation of tangible fixed assets 0 893,000 (476,000) Cash flow from financing activities: Movements in loans due to capital contribution 0 200,000 Repayment of long-term debt (247,000) (447,000) Own shares issued (purchased) 2,000 6,000 Share premium 104,000 176,000 Dividends paid (587,000) (737,000) Capital contribution through restructuring 0 3,036,000 Movements in statutory reserve due to revaluation of tangible fixed assets 0 (673,000) Minority interests 50,000 0

2009 造 1,503,000

795,000

(2,813,000) (515,000)

(550,000) (1,065,000)

(956,000)

Net cash flow Effect of foreign exchange rate changes

(678,000)

1,561,000

645,000 0

(460,000) 0

Net increase/(decrease) in cash and cash equivalents

645,000

(460,000)

Movements in cash and cash equivalents Cash and cash equivalents at 1 January 163,000 Net increase/(decrease) in cash and cash equivalents 645,000 Cash and cash equivalents at 31 December 808,000

623,000 (460,000) 163,000

Notes to the consolidated balance sheet and income statement 1 General 1.1 Operations The operations of Goudappel Coffeng Holding BV (Snipperlingsdijk 4, Deventer, The Netherlands) and its subsidiaries mainly consist of mobilityrelated commercial services rendered to central and local government. 1.2 Basis of consolidation Only those entities are included in the consolidated financial statements in which the company owns a share interest of more than 50%. These comprise the following directly and indirectly owned entities: - - - - - -

Beheersmaatschappij Goudappel Coffeng BV (100%); Goudappel Coffeng BV (100%); Tiem BV (100%); Omnitrans International BV (100%); GC Belang BV (100%); MAP Traffic Management BV (60%).

The consolidated financial statements consist of the financial statements of entities over which the company has decisive control. Those entities are fully consolidated. The consolidated financial statements also comprise those entities over which Goudappel Coffeng Holding BV has decisive control. Acquired in 2007, MINT NV is not consolidated on the grounds that we hold a less than 50% interest in the entity (year-end 2010: 35%) and have no overriding control over it. In 2010 D&P Verkeer BV changed its name to GC Belang BV. In 2010 Goudappel Coffeng BV transferred its 100% share interest in GC Belang to Goudappel Coffeng Holding BV. In the spring of 2010, GC Belang BV acquired a 60% interest in the share capital of newly incorporated MAP Traffic Management BV. The financial statements of MAP Traffic Management BV are fully included in the 2010 consolidated financial statements. Minority interests (40%) are shown as a separate item within equity. Intercompany transactions, intercompany profits, and amounts owed between group companies and other consolidated entities are eliminated if the results did not arise from transactions with third parties outside the group. 1.3 Note to the consolidated cash flow statement The cash flow statement has been prepared according to the indirect method. Cash flows shown in the cash flow statement comprise cash and cash equivalents and the bank credit facility shown under shortterm debt. Cash flows denominated in foreign currencies are translated at average rates. Effects of foreign exchange rate changes on cash are shown as a separate item in the cash flow statement. Interest paid and received, dividends received, and profit taxes are shown in the cash flow from operating activities. Dividends paid are shown in the cash flow from financing activities.

Code and with due observance of the authoritative statements contained in the accounting standards issued by the Dutch Accounting Standards Board. Assets and liabilities are generally stated at cost of acquisition or construction or market value. If no specific accounting policy is defined, they are valued at cost of acquisition. The balance sheet, income statement, and cash flow statement contain references. These references refer to the notes. The same accounting policies were applied as in 2009. 2.2 Tangible fixed assets Tangible fixed assets are stated at cost of acquisition less depreciation. At 31 December 2009, office buildings were stated at replacement value (based on an appraisal conducted by an independent surveyor in early 2010). With effect from 2010, buildings will no longer be depreciated. However, their replacement value will be tested periodically through a surveyor’s appraisal. Depreciation takes place at a fixed percentage of the cost of acquisition over the estimated useful life of the asset. The following rates of depreciation are used: - Buildings: 0% per year - Fixtures and fittings: 20% per year - Hardware and software: 33 1/3% per year No depreciation is applied to land. An allowance is made for any permanent decline in value anticipated at the balance-sheet date. No provision is recognised for the future costs of major property maintenance. 2.3 Financial fixed assets Subsidiaries and other entities over which the company has significant influence are carried at net asset value. Net asset value is calculated according to the accounting policies applied to these financial statements. For an associate for which insufficient information is available to be able to adjust these accounting policies, measurements are performed on the basis of the associate’s financial statements. If the associate’s net asset value is negative, it is carried at nil. If, in such a case, the investor is liable for the associate’s debts, a provision is recognised. Entities over which no significant influence can be exerted are carried at cost of acquisition or at a lower amount. Receivables shown under financial fixed assets are stated at cost, net of any provisions that are considered necessary. 2.4 Work in progress This comprises time and costs to be billed for current projects at external rates, net of any loss provisions considered necessary.

2 Accounting policies applied to assets and liabilities 2.1 General The consolidated financial statements have been prepared in accordance with the statutory provisions set forth in Title 9, Book 2 of the Dutch Civil

2.5 Impairment of fixed assets At each balance sheet date, the company reviews all fixed assets to look for any indication that an asset may be impaired. If there is such an indication, the company will estimate the recoverable amount of the asset. If it is not

possible to determine the recoverable amount for the individual asset, the company will determine the recoverable amount for the assetâ&#x20AC;&#x2122;s cashgenerating unit. An asset is impaired when its carrying amount exceeds its recoverable amount. The recoverable amount is the higher of the assetâ&#x20AC;&#x2122;s fair value less costs to sell and its value in use.

3.3 Costs Costs are measured on historical cost basis and allocated to the financial year in which they are incurred. Fixed assets are carried at cost of acquisition and depreciated on a straightline basis over their estimated useful lives.

If an impairment loss previously recognised has decreased or no longer exists, the increased carrying amount of the asset will not be more than the carrying amount that would have been determined if the impairment loss had not been recognised.

3.4 Employee benefits Periodical employee benefits Wages, salaries and social security costs are recognised in the income statement in accordance with the terms of employment when owed to employees.

2.6 Deferred tax assets and liabilities Deferred tax assets and liabilities are recognised for temporary differences between the tax base of an asset or liability calculated in accordance with the tax rules, on the one hand, and the carrying amount of the asset or liability determined in accordance with the accounting policies applied to these financial statements. Deferred tax assets and liabilities are measured at the tax rates applicable at the end of the financial year or expected to apply in the coming years, based on tax rates that have been enacted. Deferred tax assets, including any tax loss carryforwards, are recognised if it is probable that taxable profit will be available against which losses can be utilised. Deferred tax assets and liabilities are stated at nominal value. Deferred tax assets are shown under financial fixed assets.

Defined benefit plans are also in place. These plans provide for defined pension benefits payable to employees at retirement age, depending on their age, salary, and years of service.

2.7 Receivables Receivables are stated at cost net of any provisions considered necessary to cover the risk of non-payment. Unless otherwise disclosed, all receivables have a remaining term to maturity of less than 1 year.

3.5 Interest income and expense Interest income and expense is recognised as it arises, at the effective rate of interest applicable to the individual assets and liabilities. Interest expense is measured allowing for transaction costs paid on loans received and included in calculating the effective rate of interest.

2.8 Cash and cash equivalents Cash and cash equivalents comprise cash on hand, bank balances and demand deposits with a term to maturity of less than twelve months. Bank overdrafts are shown as amounts owed to credit institutions within shortterm debt. Cash and cash equivalents are stated at cost.

3.6 Share of profits/losses in associates Share of profits/losses in associates is measured on the basis of posttax profits or losses. The accounting policies applied by these entities to recognise and measure profits and losses are identical to those applied by Goudappel Coffeng Holding BV.

2.9 Provisions Provisions are recognised for legally enforceable or present obligations existing at the balance sheet date when it is probable that a settlement will be required and the value of such payment can be reliably estimated. Provisions are measured at the best estimate of the expenditure required to settle the obligations at the balance sheet date.

3.7 Foreign exchange rate conversion Receivables, payables, cash and cash equivalents denominated in foreign currencies are translated at year-end exchange rates. Any exchange differences arising are recognised as cost of sales in the income statement.

3 Accounting policies for profits and losses 3.1 General Profit or loss is calculated as revenue from products and services delivered less all costs and other charges attributable to the financial year. Gains on transactions are recognised in the year in which they were realised; losses are recognised as soon as they are foreseeable. Grants other than investment grants are recognised as income when it is probable that they will be received. 3.2 Revenue Fee revenue is defined as the proceeds from services rendered to third parties in the financial year. This involves time spent on and billed for projects commissioned by third parties, amounts arising from work contracted out, and disbursements. Revenue from other services is defined as the proceeds from other services allocated to the financial year.

Pensions Mandatory, contractual or voluntary contributions are paid to insurance companies for defined contribution plans. There are no further obligations other than to pay contributions under these pension plans. Contributions are classified as employee benefits and recognised as they fall due. Prepaid contributions are shown as accrued income when they result in a refund or a reduction in future payments.

3.8 Taxation Corporation tax is calculated over the pre-tax profit shown in the income statement less tax loss carryforwards from previous financial years and taxexempt profit items plus non-deductible costs. Corporation tax is calculated at the prevailing tax rates. Unused tax losses are recognised as deferred tax assets in the year in which they occurred. Deferred tax assets are measured at the tax rates applicable at the end of the financial year or expected to apply in the coming years, based on tax rates that have been enacted. Goudappel Coffeng Holding BV, Goudappel Coffeng BV, Tiem BV, Omnitrans International BV, and Beheersmaatschappij Goudappel Coffeng BV form a fiscal unity.

4 Notes to the consolidated balance sheet (in euros) 4.1 Tangible fixed assets

Land

Other

Tangible

and

tangible

fixed

buildings

fixed assets under

assets construction

Total

Accumulated cost of acquisition at 1 January 2010

6,173,634

2,936,392

Disposals

9,110,026 0

Additions

351,277

101,117

452,394

3,287,669

101,117

9,562,420

Accumulated cost of acquisition at 31 December 2010

6,173,634

In 2010 we expanded our share interest in MINT N.V. by 5% to 7,000 shares (i.e. a 35% share interest). The 5% interest was purchased for ¤ 60,000.

Accumulated depreciation at 1 January 2010

MINT NV In 2007 the company acquired an interest in the share capital of MINT NV, a company with offices at Consciencestraat 1b in Mechelen, Belgium. MINT NV was incorporated in October 2007. We currently own a 35% interest, i.e. 7,000 shares with a par value of ¤ 10. The investment is carried at cost (¤ 159,960), approaching its visible shareholders’ equity: Investment in associate MINT NV At 1 January 99,960 Additions 60,000 At 31 December 159,960

1,673,634

1,804,942

Disposals

3,478,575 0

Depreciation

577,076

2,382,018

4,055,652

Movements in visible shareholders’ equity (100%) were as follows:

2010

Accumulated depreciation at 31 December 2010

1,673,634

Shareholders’ equity at 1 January Profit for 2010 financial year

319,000 78,000

Shareholders’ equity at 31 December

397,000

Book value at 31 December 2010

4,500,000

905,651

101,117

5,506,768

4,500,000

1,131,450

5,631,450

20%-33.3%

Book value at 1 January 2010

Depreciation rates

0.0%

4.2 Financial fixed assets Deferred tax assets Omnitrans International BV Deferred tax assets GC Belang BV Deferred tax assets Goudappel Coffeng Holding BV Total deferred tax assets MINT NV (associate)

31.12.10

4.3 Work in progress 31.12.10 31.12..09 Time and costs expended 30,262,848 27,260,361 Less: billed instalments (25,761,185) (21,441,737) Less: loss provision (3,009,950) (3,912,700) 1,491,713 1,905,924

31.12.09

106,133

149,718

1,904

105,370

97,318

213,407 159,960

248,940 99,960

373,367

348,900

Deferred tax assets Deferred tax assets are recognised for Omnitrans International BV and GC Belang BV in connection with unused tax losses incurred by these companies. At 31 December 2010, Omnitrans International BV reported unused tax losses of ¤ 411,000. At 31 December 2010, GC Belang BV reported unused tax losses of ¤ 36,000. It is anticipated that some of the deferred tax assets recognised will be utilised within a period of two years. Deferred tax assets are recognised for Goudappel Coffeng Holding BV in connection with reduced depreciation of tangible fixed assets for tax purposes at 31 December 2010.

4.4 Receivables

31.12.10

31.12.09

Receivables 5,715,454 6,624,074 Less: provision for bad debts (110,518) (50,670) 5,604,936 6,573,404 4.5 Cash and cash equivalents 31.12.10 Rabobank 750,755 ING/Postbank 55,917 Cash on hand 1,748 808,420

31.12.09 (12,188) 173,893 1,125 162,830

Except as disclosed, cash and cash equivalents are freely available to the company. 4.6 Group equity Group equity is explained in greater detail in the notes to the company balance sheet.

4.7 Minority interests Movements in minority interests were as follows:

2010

At 1 January Newly consolidated Result for the year

0 150,001 (100,005)

At 31 December

49,996

Analysis of total debt arising from these loans: 247,020 646,145 1,702,750 2,595,915

Provision for deferred tax liabilities

4.10 Security provided At 31 December 2010, Goudappel Coffeng BV had access to an overdraft facility for a maximum amount of ¤ 2,250,000, jointly with the following entities: Beheersmaatschappij Goudappel Coffeng BV, Goudappel Coffeng BV, Goudappel Coffeng Holding BV, Tiem BV, and GC Belang BV.

The provision is measured by calculating the nominal corporation tax due on the difference between the commercial value and tax base of land and buildings. 2010 2009

As security for the repayment by these entities of amounts owed to credit institutions, a pledge was created over amounts owed by third parties and over fixtures and fittings, as well as a first right of mortgage involving an amount of ¤ 7,000,000 on the office premises at Snipperlingsdijk 4 in Deventer.

At 1 January Movements during the year Adjustment for revaluation of buildings At 31 December

4.11 Off-balance sheet financial assets and liabilities Voorwaardelijke verplichtingen - At 31 December 2010 guarantees and suretyships were ¤ 226,297. - These comprise guarantees and suretyships for current projects commissioned by the European Commission (¤ 57,837) and lease contracts (¤ 168,460).

4.8 Provisions

205,589 27,240 0

442,534 (15,804) (221,141)

232,829

205,589

Provision for employee benefits

Employee benefits

At 1 January 2010 Movements during the year At 31 December 2010

285,411 340,945 626,356

The provision covers anniversaries and early retirements and is generally of a long-term nature. 4.9 Long-term debt Loans 31.12.10 31.12.09 Mortgage loan from Rabobank 2,437,750 2,584,750 Medium-term (mortgage) loan from Rabobank 158,165 258,185 2,595,915 2,842,935 Repayment due in next financial year, recognised in short-term debt 247,020 247,020 2,348,895 2,595,915 Since 1 July 2002, financing facilities have been provided by Rabobank in Deventer, The Netherlands. The financing facility for Goudappel Coffeng Holding BV comprises two long-term loans granted to Beheersmaatschappij Goudappel Coffeng BV on 1 July 2002: I A mortgage loan of ¤ 3,675,000, repayable in monthly instalments of ¤ 12,250, over a term of 25 years. The loan carries interest at a rate of 5.88% and is subject to a fixed-rate period until 1 October 2017. II A medium-term (mortgage) loan of ¤ 1,000,000, repayable in monthly instalments of ¤ 8,335, at an interest rate of 5.88%. The rate of interest is fixed over the entire term of the loan (10 years).

Repayment due in next financial year Repayment due 1 to 5 years after end of year Remaining debt at five years after end of year

Financial liabilities The following rental obligations have been assumed (amounts per annum): - premises in Deventer ¤ 192,360 (end date 30.06.2014 obligation over 5-year period ¤ 673,260, > 5 years nil); - premises in The Hague ¤ 144,300 (end date 31.03.2014 obligation over 5-year period ¤ 468,975, > 5 years nil); - premises in Leeuwarden ¤ 24,120 (end date 31.10.2012 obligation over 5-year period ¤ 44,220, > 5 years nil); - premises in Eindhoven ¤ 108,096 (end date 31.12.2012 obligation over 5-year period ¤ 216,192, > 5 years nil); - premises in Amsterdam ¤ 46,236 (end date 30.06.2014 obligation over 5-year period ¤ 161,826, > 5 years nil). Leases - The annual payment obligation under a telephone exchange lease signed with KPN Lease is ¤ 55,165 (end date 01.03.2012, obligation over 5-year period ¤ 64,358, > 5 years nil). - The annual payment obligation under a copying equipment lease signed with Lage Landen Vendorlease is ¤ 117,196 (end date 01.11.2011, obligation over 5-year period ¤ 97,663, > 5 years nil). - The company operates various car leases, involving an annual payment obligation of ¤ 93,612. These obligations fall due within 1 to 5 years. At 31 December 2010, the remaining balance of these obligations amounted to ¤ 303,053, with ¤ 93,612 falling due within 1 year and the remainder within 5 years. Fiscal unity Goudappel Coffeng Holding BV, Beheersmaatschappij Goudappel Coffeng BV, Goudappel Coffeng BV, Tiem BV, and Omnitrans International BV form a fiscal unity for corporation tax purposes. Under the standard rules, the company and its consolidated subsidiaries are jointly and severally liable for taxes owed by the combination. Settlements between subsidiaries are performed on the basis of their taxable profit.

5 Notes to the consolidated income statement 5.1 Social security costs Social security insurance Pensions 5.2 Depreciation Buildings Software Computers Fixtures and fittings 5.3 Finance income and costs Mortgage loans Current accounts held with banks Bank loans Other 5.4 Tax on profit on ordinary activities

Company balance sheet at 31 December 2010 (before proposed profit appropriation) 2010

2009

1,280,501 1,163,190

1,083,996 1,183,913

2,443,691

2,267,909

2010

2009

0 165,324 239,150 172,602

176,673 163,148 248,605 156,300

577,076

744,726

2010

2009

(142,447) (14,001) (1,866) (11,231)

(161,822) (26,532) (16,808) (11,181)

(169,545)

(216,344)

Corporation tax for the year Movements in deferred tax provision

2010

2009

235,234 62,773

392,090 (57,887)

298,007

334,203

6 Other information 6.1 Workforce In 2010 the average number of employees was 239 (FTEs) (2009: 229), none of whom were based abroad (2009: 0). 6.2 Managing directors and supervisory directors Remuneration and pension costs for: 2010 Managing directors 535,369 Supervisory directors 25,080 560,449

2009 533,461 24,876 558,337

31.12.10 31.12.09 Assets Fixed assets Tangible fixed assets (8.1) 994,070 1,131,460 Financial fixed assets (8.2) 8,892,571 7,986,623 9,886,641 9,118,083 Current assets Amounts owed by group companies 5,171,416 7,852,839 Receivables 230 89 Other receivables 363,975 550,419 Cash and cash equivalents 179,697 0 5,715,318 8,403,347 15,601,959 17,521,430 Liabilities Shareholdersâ&#x20AC;&#x2122; equity (8.4) Issued share capital 158,711 156,402 Revaluation reserve 104,851 104,851 Share premium reserve 704,198 634,848 Other reserve 4,735,570 4,336,167 Profit for the year 745,840 952,700 6,449,170 6,184,968 Provisions (8.5) Employee benefits 135,280 33,822 Short-term debt Credit institutions 6,506,456 7,405,528 Payables 418,848 381,150 Amounts owed to group companies 441,998 420,644 Taxation and social security 513,153 427,759 Other debt 1,137,054 2,667,559 9,017,509 11,302,640 15,601,959 17,521,430 Company income statement for 2010 2010 Share of post-tax profits/losses in associates 972,117 Company profit/loss after taxation (226,277) Profit after taxation 745,840

2009 918,129 34,571 952,700

7 General The same accounting polices have been applied to the company financial statements and the consolidated financial statements. Consolidated entities are carried at net asset value. Details of the accounting policies applied to assets and liabilities and profits and losses are given in the notes to the consolidated balance sheet and consolidated income statement on pages 40 to 41.

8 Notes to the company balance sheet and company income statement 8.1 Tangible fixed assets

Other Tangible tangible fixed assets fixed under assets construction

Accumulated cost of acquisition At 1 January 2010 2,910,634 0 Disposals 0 0 Additions 335,931 101,117 Accumulated cost of acquisition At 31 December 2010 3,246,565 101,117 Accumulated depreciation At 1 January 2010 1,779,174 0 Disposals 0 0 Depreciation 574,438 0 Accumulated depreciation At 31 December 2010 2,353,612 0 Book value at 31 December 2010 892,953 101,117 Book value at 1 January 2010 1,131,460 Depreciation rates 20%-33.3%

Total

2,910,634 0 437,048

3,347,682

1,779,174 0 574,438

2,353,612 994,070 1,131,460

Deferred tax assets Deferred tax assets are recognised for Goudappel Coffeng Holding BV in connection with reduced depreciation of tangible fixed assets for tax purposes at 31 December 2010. 8.3 List of subsidiaries Fully consolidated direct and indirect subsidiaries: Interest in share capital Beheersmaatschappij Goudappel Coffeng BV, Deventer 100% Goudappel Coffeng BV, Deventer 100% GC Belang BV, Deventer 100% Tiem BV, Deventer 100% Omnitrans International BV, Deventer 100% MAP Traffic Management BV, The Hague 60% 8.4 Shareholders’ equity Issued share capital At 31 December 2010, the company’s authorised share capital amounted to ¤ 295,000, divided into 295,000 shares with a par value of ¤ 1. The issued share capital was ¤ 158.711, consisting of 122,409 ordinary shares with a par value of ¤ 1, and 80 priority shares with a par value of ¤ 453.78. Movements in 2010 were as follows (in euros): Shares At 1 January 2010 156,402 Ordinary shares (depositary receipts) sold 2,309 At 31 December 2010

158,711

8.2 Financial fixed assets Investments in associates Deferred tax assets

31.12.10

31.12.09

8,787,201 105,370

7,889,305 97,318

8,892,571

7,986,623

Investments in associates Movements in investments in associates were as follows: Beheersmij. MINT NV Goudappel Tiem BV Goudappel Coffeng BV/ Coffeng BV Omnitrans International BV At January 2010 Book value 2,399,869 99,960 3,708,214 1,681,262 Movements in 2010 Additions/disposals 0 60,000 0 0 Share of profits/losses in associates (155,826) - 878,073 408,747 At 31 December 2010 2,244,043 159,960 4,586,287 2,090,009

GC Belang BV/ MAP Traffic Management BV

Total

7,889,305

(134,221) (158,877)

(74,221) 972,117

(293,098)

8,787,201

Revaluation reserve The revaluation reserve arose on the revaluation of land and buildings of Beheersmaatschappij Goudappel Coffeng BV at 31 December 2009, allowing for tax effects.

2010

At 1 January Movements during the year

104,851 0 104,851

Other reserves Share premium Other At 1 January 634,848 4,336,167 Profit from previous year 0 952,700 Dividends paid during the year (203,068) (384,807) Depositary receipts issued (stock dividends) 198,103 0 Depositary receipts purchased/sold during the year 74,315 (168,490) At 31 December 704,198 4,735,570 8.5 Provisions Provision for employee benefits At 1 January 2010 Additions during the year At December 2010

Employee benefits 33,822 101,458 135,280

8.6 Off-balance sheet financial liabilities The company has issued a joint and several liability statement for the benefit of its consolidated subsidiaries as required under Section 2:403 of the Dutch Civil Code. The joint and several liability statement covers Goudappel Coffeng BV, Tiem BV, Omnitrans International BV, and Beheersmaatschappij Goudappel Coffeng BV. Deventer, The Netherlands, 22 April 2011 The Management Board and Supervisory Board

Other information Profit appropriation according to the Articles of Association Article 35 of the Articles of Association provides that the annual profit shall be freely available to the General Meeting of Shareholders. Proposed profit appropriation It is proposed that the profit of ¤ 745,840 be added to the other reserves. This proposal is shown as profit for the year under shareholders’ equity. Proposed profit appropriation In 2010 an interim dividend of ¤ 4 was paid. It is proposed that a final dividend of ¤ 0.25 be paid for 2010.

Independent auditors’ report Report on the financial statements We have audited the accompanying financial statements 2010 as set out on pages 35 to 46 of Goudappel Coffeng Holding BV, Deventer, which comprise the consolidated and company balance sheet as at 31 December 2010, the consolidated and company profit and loss account for the year then ended and the notes, comprising a summary of accounting policies and other explanatory information. Directors’ responsibility The directors are responsible for the preparation and fair presentation of these financial statements and for the preparation of the directors’ report, both in accordance with Part 9 of Book 2 of the Dutch Civil Code. Furthermore, the directors are responsible for such internal control as they determine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Dutch law, including the Dutch Standards on Auditing. This requires that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company’s preparation and fair presentation of the financial statements 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. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion In our opinion, the financial statements give a true and fair view of the financial position of Goudappel Coffeng Holding BV as at 31 December 2010, and of its result for the year then ended in accordance with Part 9 of Book 2 of the Dutch Civil Code. Report on other legal and regulatory requirements Pursuant to the legal requirement under Section 2: 393 sub 5 at e and f of the Dutch Civil Code, we have no deficiencies to report as a result of our examination whether the directors’ report, to the extent we can assess, has been prepared in accordance with Part 9 of Book 2 of this Code, and whether the information as required under Section 2: 392 sub 1 at b-h has been annexed. Further we report that the directors’ report, to the extent we can assess, is consistent with the financial statements as required by Section 2: 391 sub 4 of the Dutch Civil Code. Hengelo, 22 April 2011 PricewaterhouseCoopers Accountants N.V. A.H.J.M. Tönissen, RA

Colophon Original design Bureau Mart. Warmerdam, Haarlem Layout Ingrid Kleine Koerkamp Editors Peter van der Mede Agnes van den Berg

Key figures As a result of the restructuring implemented in 2009, the financial statements of the Goudappel Group for 2009 onwards comprise the financial statements of its two former holding companies (Goudappel Coffeng Holding BV and Houdstermaatschappij Goudappel Coffeng BV). To allow a comparison, the summary below shows the combined financials for the two holding companies for 2007 and 2008.

2010

2009

2008

2007

2006

2005

Fee revenue Direct hours

21,952,000 22,093,000

21,632,000 20,364,000

17,861,000 14,978,000

244,600

254,700

245,400

239,700

204,600

172,300

89.8

86.7

88.1

85.0

87.3

86.9

574,000

521,000

672,000

686,000

759,000

676,000

215

209

198

190

172

151

246

239

227

217

199

179

Total billable time

68.5%

70.7%

70.8%

73.5%

73.1%

70.5%

Fee revenue per FTE

89,200

92,400

95,500

93,900

89,900

83,500

Added value per FTE

25,900

26,200

30,400

30,700

30,100

23,500

1,389,000

1,443,000

2,607,000

3,080,000

2,592,000

924,000

746,000

953,000

1,713,000

2,114,000

1,693,000

292,000

Return on investment3

13.2%

18.8%

33.8%

41.6%

39.9%

16.0%

Solvency4

44.2%

38.4%

37.2%

33.7%

24.5%

22.8%

Net hourly rate Other revenue (excluding work contracted out) FTEs1 Direct Indirect Total

Operating profit2 Profit after taxation

1) In contrast to the financial statements, this summary shows the number of FTEs without taking into account parental leave and extra days of leave purchased 2) Normalised (excluding exceptional income or expenses) 3) Return on investment: normalised operating profit / invested capital Invested capital = tangible fixed assets + net working capital 4) Solvency = (shareholders’ equity – deferred tax assets)/(balance sheet total - deferred tax assets)

Goudappel Coffeng Holding: accounting department  Ineke Voortman-ten Kley, Petra Heijboer, Petra Wezelman, Wilma Elfrink-Beunk caretaker  Harco Draaijer cartographer  Joost de Bruijn communication consultants  Anja Smit, Marieke Holleman computer engineers  Christian Ménard, Edwin Mein, Erik de Romph, Jacob Bijsterbosch, Jeroen van Oorspronk, Jeroen Vleeming, Mark Raadsen, Sebastiaan Haarman, Wim van den Bos data specialists  Edwin Straat, Evelien Hulsmanvan der Meulen, Gertie van Oene, Henriëtte Schouten-Zwaag, Jacco Tempelman, Jenny Wieldraaijer-Nijen Twilhaar, Jeroen Broeks, Michiel Holtmaat, Sander Wolthuis, Wim Geerligs econometricians  Jan Banninga, Wendy Savelberg facilities staff  Bolie Rühl, Machteld Keizer-van der Heijden front desk  Judith Bodifée, Laura Vinkenburg-Jekel, Ursula Smit general traffic engineering consultants  Anne Koot, Bart Heijnen, Bas Govers, Ben Peters, Bert-Jan Espeldoorn, Bram Klemann, Carlo Bernards, Christiaan Nab, Christian ter Braack, Cor Koopmans, Cristian Georgescu, Erik Oerlemans, Frank Aalbers, Frank Aarnink, Gerwin de Boer, Guus Tolkamp, Hans van der Stok, Harrie Groot, Hendrik Bouwknegt, Henk Tromp, Henk van Zeijl, Hugo Smuling, Jeroen Terlouw, Johan Munsterman, Joost Klimbie, Kevin Jansen, Marie-José Olde Kalter, Maurits Mousset, Nicole Korsten, Nike Moederscheim, Patrick van der Graaff, Peter Brogt, Peter Kant, Peter van der Sterren, Remco Meinen, Richard Gijsbers, Rico Andriesse, Robert Ruisch, Roel Meilof, Sander van der Eijk, Suzanne Spapens, Thomas Straatemeier, Tjitte Prins, Toon van der Horst, Willem Scheper geographical economist  Tim van Huffelen GIS consultants  Alfred Knol, Anne Siderius, Co Holzapfel, Daniël Roels, Dirk Bussche, Esther Bernards, Francien Bouma-Blok, Michiel van Heek, Mijke Romkema, Paul Link, Rens van Vilsteren, Wigger Tims graphic designers  Ingrid Kleine Koerkamp, Karmijn Beijlen helpdesk  Pieter Kuipers, Tjarko Hissink HR  Agnes Lammerts, Jeannet Konijnenberg, Nancy Verbeek, Peter van Overeem information consultants  Inge Schutteman-Kalee interim & process managers  Erik Geerdes, Iwan Arts knowledge centre  André Scholten, Cecil Westenenk-Overmars, Simone Schrijver landscape architect  Marco Aarsen management assistant  Rosalique Theelen management board  Jaap Benschop, Peter van der Mede, Tonny Bosch management board assistant  Agnes van den Berg mathematicians  Feike Brandt, Jantine Boxum, Jouke Korf, Maarten Schilpzand, Martie van der Vlist, Peter Baas, Rogier van der Honing, Rutger Kock mobility consultants  Dick Terlouw, Heidy van Essen-Overbeek, Jan-Anne Waagmeester, Leon Peeters, Sjaak Meijerink model innovation  Henri Palm, Klaas Friso, Kobus Zantema, Luc Wismans, Luuk Brederode, Michiel Bliemer operations & maintenance assistant  Ryan Alarakhia parking consultants  Aukje van de Reijt, Jeroen Roelands payroll department  Alie Grotentraast-Hanekamp, Berna Smeenk-Flierman physical geographer  Mark Wilmot physicist  Nico Aardoom project administrators  Albert Makkinga, Annemarie Nijeholt-Overbeek, Diana Raatjes-Spruijt, Eric Vredebregt, Hans Cobussen, Jolanda ten Den-Hogt, Petra de Lange planning consultants  Alex Mulders, Astrid Geerts, Christiaan Kwantes, Danny van Beusekom, Danny Walraven, Dieder van Essen, Floris Frederix, Henk Talsma, Pauljan Kuijper, Norbert Nijhof, Richard ter Avest, Ron Bos, Sophia Boertjes process managers  Annet Dijk-Schepman, David Rus, Dirk Kuijper, Jaap Kik, Joost Beenker, Liesbeth Couwenberg, Lizanne Hessels, René de Jong psychologists  Lotte van den Munckhof, Marc de Haan, Matthijs Dicke-Ogenia public transport consultants  Elwin Pippel, Fabian Wegewijs, Henk Doeke van Waveren, Martijn Ebben, Niels van Oort, Robert van Leusden, Ties Brands quality & information coordinator  Wim Dommerholt repro coordinator  Berry Lohuis sales  Luuk van Dorth secretarial staff  Debbie Hertogs, Desi Verhelst, Diana Kralendonk, Elly Janssen-Boekhorst, Esther van Antwerpen, Esther van den Boomen, Eugenie de Haan-Elshof, Fernanda Wagenaar-Calot, Idelet Krukkert, Jill Gerrissen, Kristel Aalbers-Voeten, Marga Mulder-Brouwer, Margriet van Kaathoven, Miranda Schonewille, Simone Schalkers, Sytske Roetert Steenbruggen-de Groot, Wilma Zwier-Severein social geographers  Jeroen Weppner, Susan Dogterom, Hans Golstein, Harry Kingma, Karin van der Lans, Marc Stemerding, Marcel van Lieshout, Menno Wagenaar, Niek Bosch, sociologist  Paul van Beek software developers  Hans Fettelaar, TjongCho Wang systems managers  Edwin van Es, Frank Helthuis, Ruud Bentsink technical planning consultants  Erik Pieterman, Jacob Keizer, Rick Luimes traffic designers  Jantine de Wijs, Jeroen Kuijpers, Joost Verhoeven, Peter Dinnissen traffic & environment consultants  Ed Jägers, Gerlof Wijnja, Jakob Henckel, Robert van den Brink, Tjeerd de Boer, Wim Korver traffic & transport managers  Erik Houtriet, Erik-Jan Westra, Gert Willems, Ivo Kalsbeek, Jeroen Bosch, Job Birnie, Lieuwe Krol, Luc Prinsen, Mark van den Bos, Marloes Stege, Rob de Wit, Theo Dijkshoorn, Wijnand Oppedijk, Willem Kinzel trainees  Corné Schreurs, Jeffrey Broeders, Marco Mulder, Paul Oost, Ron Schröder transport modelling consultants  Abdullah Salimian, Arjan van de Werken, Arnout Kwant, Bastiaan Possel, Benjamin Tempert, Benno van der Griendt, Christiaan Palsrok, Eric Pijnappels, George Kooistra, Gerard Bruil, Gerard Wiersma, Hans Huisman, Hans van Herwijnen, Hilbrandt Baarsma, Jan Wilgenburg, Jelmer Herder, Olaf Seinen, Rogier Koopal, Sander Schoorlemmer, Stefan de Graaf urban development consultants  Aart de Koning, Viviane de Groot