Catom Annual Report 2020 EN

procedures of the independent auditor. We communicate the independent auditor’s findings regarding the quality of the financial reporting as identified in the context of the audit of the annual accounts. The above contains a list of what we currently consider to be our main risks. This list is not exhaustive. There may be other risks we currently do not consider to be of vital importance, but which may still turn out to be significant.

turnover per employee in this retail segment is much lower than for the other activities; also, the prices of motor fuels dropped sharply; the average turnover per employee in 2020 dropped by 21%. All personnel members are employed by the Dutch companies. Catom has no employees in other countries. It is expected that, with autonomous growth, the workforce may again decrease slightly as a result of efficiency measures and investments in new technologies. Any drop in the number of employees can be fully achieved through natural attrition. However, it is quite plausible that such a potential drop will be more than offset by further growth, including through acquisi tions, and particularly through a further increase of the number of petrol stations operated by the company itself.

Personnel and organisation

The average number of employees, expres sed in FTE, rose during the reporting year from 266 to 275. This increase was mainly due to the acquisition of petrol stations, taking over the operation of petrol stations previously run by dealers and taking over trading activities from fuel traders. The

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