Catom Annual Report 2019 EN

of petrol stations previously run by dealers and taking over trading activities from fuel traders. The turnover per employee in this retail segment is much lower than for the other activities; the average turnover per employee in 2019 dropped by 11%. All personnel members are employed by the Dutch companies. Catom B.V. 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 acquisitions, and particularly through a further increase of the number of petrol stations operated by the company itself.

assessed in the context of the 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 significant, but which may turn out to be significant nonetheless.

Personnel and organisation

The average number of employees, expressed in FTE, rose during the reporting year from 243 to 266. This increase was mainly due to the acquisition of petrol stations, taking over the operation

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