Report of the Board of Directors

2022 was a successful year. A very turbulent year too, but when isn’t it? And above all, a year in which we have taken we have taken significant steps towards sustainability. We have celebrated our 80th anniversary, founded a great start-up, and started special initiatives. With a new name, a new direction, and a new mission, we have ushered in the new year. Hello 2023, JAJO is ready!

To start with the figures: it was a good year financially with healthy profitability. The turnover grew to 534 million euros. Profit for 2022 was set at 17.5 million euros. Despite the necessary challenges: again, material shortages came across, partly due to the geopolitical tensions in the world. Also, in 2023 we will suffer from these shortages.

A new brand, Revolve Development

We are excited about the launch of our new brand Revolve Development, an internal start-up set up by ambitious colleagues from within our company. Revolve Development will be the first development company in The Netherlands to focus on the circular and CO2-neutral development of buildings and locations. Their slogan is ‘100% happiness and 0% CO2 ’. The acquisition of projects is rapidly developing, Revolve Development is looking, among other things, into a wood-constructed apartment complex in Pijnacker.

Takeover in maintenance

Thanks to the acquisition of Management & Maintenance ERA Contour, we have extended our maintenance network. This acquisition is fully compliant with our growth ambitions and strategic focus on professionalizing and expanding our maintenance branch. Management & Maintenance is mainly active in the Rotterdam region, which provides us with more national spread of these activities. For the employees, it is good that they join a company that wants to develop and extend the maintenance business.

JAJO Academy

Good people are the power of every company. We believe it is important to invest in our people and ensure they remain employable and motivated for the long term. For example, allowing them to continue learning. In early 2023, we founded the JAJO Academy, an online platform with courses, reference books, and tailor-made pieces of training.

Our subsidiaries can show their needs to the Academy, for example, to conduct a technical English course on the job site. The JAJO Academy is also used for the onboarding of new colleagues. The need for learning amongst our colleagues is great: the Academy has become widely used, and 400 trainings have been initiated by the 600 Dutch colleagues who have access to the platform. Soon, also our colleagues in the Caribbean are going to be connected.

Awareness about behavior

The app Speak-Up! is well-used within JAJO, in The Netherlands, Poland and in the Caribbean. Since 2021, we have used this application to load the organization’s code of conduct even better and to stimulate conversations about, for example, unwanted behaviors or suspicions of fraud. We would like to make sure that these kinds of issues can be discussed, and to increase the awareness of everyone’s role in this. In the app, we discuss statements with one another and focus on desirable behavior.

A new, sustainable foundation

In September, we successfully celebrated our 80th anniversary as a team-building event with all colleagues and partners at DeFabrique in Utrecht. When you turn 80, it’s a good moment for self-reflection. Where have you come from, and where would you like to go? The real estate cycle is creaking and squeaking and now needs brave companies that can work together to build a new, sustainable foundation. We feel very strongly about that responsibility, and we want to become even more sustainable. The market is ready for that. And if any company is capable of being a leader in sustainable development, it is for us. JAJO is large enough to be significant, and because the organization is composed of several small companies, it is also flexible enough to be able to change. To use a classic shipping metaphor: a tanker does not change course easily, but a fleet of small sailing ships is very agile. Moreover, we have a culture of just doing it. Innovation requires the courage to experiment. Our Houtlab is just one example. This innovative building took shape in 2022 and will open its doors in 2023 for all those who want to know more about circularity, durability, and wooden construction.

New name and corporate identity

A strengthened course also incorporates a new name and company identity, we thought. Since January 9, 2023, we have continued as JAJO, with the mission: Closing the circle, together. That means, for one thing, the subsidiaries of the JAJO. They are active at every step of the real estate cycle. They develop, build, maintain, repair, and harvest. Together, they close the material cycle, and like a strong and unique combination they support customers at every step of the way in real estate. On the other hand, the new mission emphasizes that the necessary sustainability in the real estate sector is only possible by working together with the entire chain of partners, suppliers, customers, and other construction companies.

Outlook 2023

Sales are expected to consolidate in 2023. We have a well-filled order book. Reserve judgement is appropriate, as higher interest rates has made the market much more uncertain. This results in at least longer project deadlines, which should reduce the pressure on material demand. Furthermore, we may suffer from the nitrogen problem. Building permits in Noord-Brabant have been stopped, and this may become an issue for new projects by the end of 2023.

The right mindset

We continue to focus on our sustainability ambitions. If we are to achieve our CO target by 2027, we need to take real action now. For more information on what we are doing, see Sustainable Entrepreneurship. In the past, our organization has proven that it can successfully implement this kind of transition. Consider the great progress we have made for turnkey building or customer satisfaction. If you are ready to be flexible, reflect on yourself and learn from your achievements, then you have the right mindset for change. We see that willingness in our employees. Hopefully, as many other companies as possible will join us to close the circle together.

30 May 2023,

Ivo van der Mark and Patrick Booij JAJO Board of Directors