Annual Report Ethical Property Europe 2013
Transcription
Annual Report Ethical Property Europe 2013
ETHICAL PROPER TY EUROPE ANNUAL 13 0 REPOR T 2 Foreword - Managing Director . . . . . . . . . . . . . . . . . 03 z Préambule - Administrateur Délégué . . . . 03 z Inleiding - Gedelegeerde Bestuurder . . . . 04 The company in a nutshell . . . . . . . . . . . . . . . . . . . . . . 05 z L’entreprise en bref . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 05 z Het bedrijf in een notendop . . . . . . . . . . . . . . . . . 05 Growth strategy ...................................... 09 Other members of the family . . . . . . . . . . . . . . . . . . . . 11 In focus .................................................. Our centres ............................................ 13 15 Social performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Environmental performance Our Staff .................... 23 ................................................ 26 The Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Financial highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 EPE SA statuary accounts . . . . . . . . . . . . . . . . . . . . . . 32 Audited Financial Accounts ..................... 35 FOREWORD PRÉAMBULE INLEIDING FRÉDÉRIC ANCION MANAGING DIRECTOR ADMINISTRATEUR DÉLÉGUÉ GEDELEGEERDE BESTUURDER Dear Reader, We are pleased to share with you our annual report. This report is an opportunity for our team to take a step back, assess the work that has been achieved and share the highlights of the year with our shareholders and partners. Throughout 2013, our “Mundo” centres have continued to assert themselves as focal points for the social change sector. They remain the place to be for everyone interested in sustainable development in its broadest sense. Our properties continue to be held up as examples of both eco-renovation and sustainable management. The current crisis has been a prominent feature this year, and has affected a number of associations and NGOs, the primary users of the Mundo centres. It has therefore become vitally important to continue to offer high-quality services while keeping operational costs at a level that remains accessible to all. This is a daily and difficult, but essential, challenge. In terms of new projects, the year-end has seen two important announcements. Mundo-J is set to launch in Brussels in 2014. The project is based on a new approach, with Ethical Property managing the centre without assuming ownership. And Mundo Antwerp is now underway. This will be Ethical Property's first new-build and will be of high bioclimatic value. We are extremely enthusiastic about these two projects, which represent the culmination of several years of work, both for Ethical Property and the associations who are the cornerstone of our projects. It will also place Ethical Property on a more sound financial footing. You will find more information on these topics, and others, in the report itself. We hope you enjoy reading it. Madame, Monsieur, Nous avons le plaisir de vous présenter notre rapport annuel. Sa réalisation constitue, pour notre équipe, l’occasion de prendre du recul, de mesurer le travail accompli et de communiquer les points marquants de l’année auprès de nos actionnaires et partenaires. Au cours de 2013, nos centres « Mundo » ont continué à s’affirmer comme centres névralgiques du secteur associatif. Ils constituent des points de chute pour tout qui s’intéresse au développement durable au sens large. Nos immeubles continuent en outre à être cités comme références tant en matière d’éco-rénovation que de gestion durable. l Ethical Property Europe Annual Report 2013 3 Un élément marquant cette année est la crise actuelle, qui touche durement nombre d’associations et ONG, principaux utilisateurs des centres Mundo. Il est dès lors devenu essentiel de pouvoir continuer à proposer des services de qualité tout en maintenant des coûts de fonctionnement suffisamment bas pour rester accessibles à tous. C’est un défi de tous les jours, parfois inconfortable mais nécessaire. En termes de nouveaux projets, cette année s’achève avec deux nouvelles importantes. D’une part, Mundo-J verra le jour en 2014 à Bruxelles. Le projet est basé sur une nouvelle approche, dans laquelle Ethical Property gérera le centre sans en devenir propriétaire. Par ailleurs, Mundo Antwerpen est à présent lancé. Il s’agira pour Ethical Property de la première construction neuve, qui sera de haute valeur bioclimatique. Nous sommes très enthousiastes car ces deux projets constituent l’aboutissement de plusieurs années de travail, tant pour Ethical Property que pour les associations qui sont à la base de ces projets. Cela permettra, en outre, à Ethical Property d’atteindre une situation financière plus stable. Vous trouverez de plus amples informations sur ces différents points et sur bien d’autres dans la suite du rapport. Nous vous souhaitons bonne lecture. Geachte heer, mevrouw, Met veel plezier presenteren wij u ons jaarverslag. Het opstellen van dit jaarverslag is voor ons team een goede gelegenheid om afstand te nemen, een overzicht te krijgen van het geleverde werk en aan onze aandeelhouders en partners te communiceren over de hoogtepunten van het afgelopen jaar. Ook in 2013 is duidelijk gebleken dat onze Mundo-centra als ‘zenuwcentra’ van de verenigingssector fungeren. Zij vormen een echte ontmoetingsplaats voor iedereen die geïnteresseerd is in duurzame ontwikkeling in ruime zin. Verder wordt nog altijd naar onze gebouwen verwezen als het gaat over ecologisch renoveren en duurzaam gebouwbeheer. Een opvallend element dit jaar is de huidige crisis, die tal van verenigingen en ngo’s – de voornaamste gebruikers van de Mundo-centra – zwaar treft. Het is daarom van essentieel belang dat we kwaliteitsvolle diensten kunnen blijven aanbieden, maar tegelijk de werkingskosten voldoende laag houden om voor iedereen toegankelijk te blijven. Met die uitdaging krijgen we elke dag opnieuw te maken, en dat is soms lastig maar wél noodzakelijk. Qua nieuwe projecten ronden we dit jaar af met twee belangrijke nieuwigheden. Ten eerste zal in 2014 Mundo-J in Brussel zijn deuren openen. Dit project is gebaseerd op een nieuwe aanpak, waarbij Ethical Property het centrum gaat beheren zonder er eigenaar van te worden. Daarnaast is Mundo Antwerpen gelanceerd. Dit wordt voor Ethical Property het allereerste nieuwbouwproject, en zal een topvoorbeeld van bioklimatische architectuur zijn. Wij zijn dus erg enthousiast, want beide projecten zijn het resultaat van meerdere jaren werk, zowel voor Ethical Property als voor de verenigingen die aan de basis van deze projecten staan. Bovendien zal Ethical Property hierdoor in een financieel stabieler vaarwater komen. Meer informatie over deze puntjes, en uiteraard nog veel meer, vindt u verderop in dit verslag. Wij wensen u veel leesplezier. l 4 Ethical Property Europe Annual Report 2013 THE COMPANY IN A NUTSHELL L’ENTREPRISE EN BREF HET BEDRIJF IN EEN NOTENDOP Ethical Property Europe is a company with two objectives: to set up centres for social change organisations and to enable individuals and institutions to make a uniquely ethical investment. Our shareholders gain the security of a property based investment that offers a financial return as well as contributing to lasting social change. Ethical Property Europe supports innovative and progressive organisations working for social change by taking care of their property needs. We develop and manage centres in major cities according to our ‘Mundo’ model. These centres are focal points for social change. The ‘Mundo’ model offers tenants professional office space, affordable rents, flexible and sympathetic management and facilities as well as services designed to meet their needs. They also become part of a working community where they can exchange skills and ideas under one roof. Communal facilities generally include meeting and conference facilities, a restaurant, reception, mail and copy services and where possible a garden designed as a haven for biodiversity. Properties are eco-renovated and managed to minimise energy and water use, waste, car travel and the use of harmful materials. Ethical Property Europe est une société qui poursuit un double objectif : réaliser des centres pour les acteurs du progrès sociétal et permettre aux particuliers et aux institutions de faire un investissement éthique unique. Nos actionnaires bénéficient de la sécurité d’un investissement immobilier qui permet non seulement d’obtenir un retour financier, mais également de contribuer à un progrès sociétal durable. Ethical Property Europe is een bedrijf dat een dubbele doelstelling nastreeft: centra voor actoren van de maatschappelijke verandering opzetten, en personen en instellingen de mogelijkheid bieden om een unieke ethische investering te doen. De investeerders van het bedrijf krijgen de zekerheid van een op vastgoed gebaseerde investering die niet alleen een financieel rendement biedt maar ook bijdraagt tot een duurzame sociale verandering. Ethical Property Europe soutient les organisations innovantes et progressistes qui œuvrent pour le progrès sociétal en s’occupant de leurs besoins en termes d’infrastructures et des services liés à ces infrastructures. Nous développons et gérons des centres dans les principales villes européennes selon notre modèle ‘Mundo’. Ces lieux deviennent des centres névralgiques du changement sociétal. Ethical Property Europe steunt innovatieve en progressieve organisaties die zich inzetten voor sociale verandering. Wij doen dit door ons te bekommeren om de vastgoedbehoeften van die organisaties. We richten in verschillende grootsteden centra op en runnen die volgens ons Mundo-model. Deze centra staan in het teken van sociale verandering. Le modèle ‘Mundo’ offre à ses locataires des bureaux avec des loyers raisonnables, des espaces flexibles et une gestion adaptée conçus pour répondre à leurs besoins. Ils deviennent membres d’une communauté de professionnels où ils peuvent échanger compétences et idées sous un même toit. Les équipements collectifs incluent généralement une cafétéria, des Het Mundo-model biedt huurders professionele kantoorruimten tegen betaalbare huurprijzen, een flexibel en inschikkelijk management en voorzieningen en diensten die ontwikkeld zijn om aan de behoeften van de huurders te voldoen. De huurders worden ook deel van een werkgemeenschap waar ze kennis en ideeën kunnen uitwisselen onder één dak. De gemeenschap- l Ethical Property Europe Annual Report 2013 5 In special cases, tenants may also benefit from part ownership of a centre. We now manage office facilities totaling nearly 8,000 square meters in Brussels and Namur. We are in the process of building a network of centres across Europe in support of the social change movement. Ethical Property Europe is part of the growing Ethical Property Family of companies that is committed to the overall aim of making the best use of property for society and the environment. The members of the Ethical Property Family operate in four European countries: Belgium: Ethical Property Europe (3 centres); The United Kingdom: The Ethical Property Company (21 centres), as well as 2 service entities: the Ethical Property Foundation (Property advice) and Ethical-IT (IT services) salles de conférence et de réunion et, lorsque cela est possible, un jardin-refuge pour la biodiversité. Les immeubles sont éco-rénovés et éco-gérés afin de minimiser les consommations d’énergie et d’eau, les déchets, l’usage de la voiture, et les matériaux dangereux. Dans certains cas, les locataires peuvent être copropriétaires du centre. Nous gérons actuellement des centres d’associations à Bruxelles et Namur totalisant près de 8.000 m². Notre objectif est d’établir un réseau de centres à travers l’Europe pour soutenir le mouvement du progrès sociétal. Ethical Property Europe fait partie d’une famille grandissante d’entreprises et d’organisations qui se sont engagées à utiliser au mieux l’immobilier pour la société et l’environnement. Les six membres de la famille Ethical Property opèrent dans quatre pays européens : Belgique : Ethical Property Europe (3 centres), France: étic (3 centres); The Netherlands: Ethical Property Nederland (1 centre) Grande-Bretagne : Ethical Property Company (21 centres), Ethical Property Foundation (conseil) et Ethical-IT (services IT); France : étic (3 centres), OUR VALUES ARE BASED ON FOUR FUNDAMENTAL PRINCIPLES: Contributing to an equal and just society We believe in treating all people equally and with respect. We are committed to offering and continually improving access to our properties, to the services we provide, to the jobs we offer, and to investment in the company. We aspire to overcome gender, class and other barriers by enabling all sectors of society to participate equally in what we offer and who we employ. We also aim to overcome wealth barriers by ensuring that our services remain affordable, within the constraints of our business model. l Pays-Bas : Ethical Property Nederland (1 centre). pelijke voorzieningen omvatten doorgaans een café, een congrescentrum, grote vergaderruimten en waar mogelijk een tuin ingericht als toevlucht voor biodiversiteit. De gebouwen worden op milieuvriendelijke wijze gerenoveerd en beheerd om het energie- en waterverbruik, de afvalproductie, het autogebruik en het gebruik van schadelijke materialen tot een minimum te beperken. In bepaalde gevallen kunnen huurders medeeigenaar worden van een centrum. We beheren momenteel centra met een totale oppervlakte van bijna 8.000 m2 in Brussel en Namen. We willen in Europa een netwerk van centra uitbouwen ter ondersteuning van sociale verandering. Ethical Property Europe behoort tot een groeiende familie van vennoten en organisaties die zich inzetten voor een gezamenlijk doel, namelijk het optimaal aanwenden van vastgoed voor de samenleving en het milieu. De zes leden van de Ethical Property-familie opereren in vier Europese landen: België: Ethical Property Europe (3 centra), Het Verenigd Koninkrijk: The Ethical Property Company (21 centra), Ethical Property Foundation (advies) en Ethical-IT (IT diensten) ; Frankrijk: étic (3 centra), NOS VALEURS REPOSENT SUR QUATRE PRINCIPES FONDAMENTAUX La contribution à une société juste et équitable Nous croyons qu’il faut traiter les gens avec respect et de façon équitable. Nous œuvrons à rendre accessibles au plus grand nombre nos centres, nos services, les emplois que nous proposons, ainsi que la possibilité d’investir dans notre entreprise. Afin que tous les secteurs de la société puissent participer de façon égale à nos activités, nous nous assurons que nos services soient abordables, tout en respectant nos contraintes budgétaires. 6 Ethical Property Europe Annual Report 2013 Nederland: Ethical Property Nederland (1 centrum) ONZE WAARDEN ZIJN GEBASEERD OP VIER FUNDAMENTELE BEGINSELEN Bouwen aan een rechtvaardige samenleving Wij vinden dat alle mensen gelijk en met respect moeten worden behandeld. We trachten alles wat de toegang kan belemmeren tot onze panden, tot de diensten die door ons worden geleverd, tot de banen die wij aanbieden en tot investeringen in het bedrijf weg te nemen. Wij streven ernaar om discriminatie op grond van huidskleur, geslacht, Contribute to a sustainable society La contribution à une société durable We believe in building both physical and social structures, and encouraging behavioral changes that lead to sustainable lifestyles with a positive environmental impact, that use their fair share of the planet’s resources. Nous souhaitons encourager les comportements et construire les infrastructures et les structures sociales qui amèneront un style de vie durable avec un impact environnemental positif et qui n’utiliseront que notre juste part des ressources de la planète. Embedding values in business and in society as a whole We believe that every action we take and decision we make as a business should be based on the Triple Bottom Line principle of People-Planet-Profit, reflecting our values, and not just our financial return. Contribute to positive communities We believe that the world’s problems are better solved by people working together and that living in a positive community leads to a happier and more fulfilling life. klasse, enz. te elimineren door ervoor te zorgen dat alle groepen in de samenleving op voet van gelijkheid toegang hebben tot de producten, diensten en banen die wij aanbieden. Wij streven ernaar om financiële barrières te slechten door onze diensten betaalbaar te houden, binnen de beperkingen van ons businessmodel. Bouwen aan een duurzame samenleving Ancrer nos valeurs aussi bien dans nos affaires que dans la société Nous pensons que chaque action, chaque décision de notre entreprise doit prendre en compte le triple bilan : Personne-PlanèteProfit, qui reflète les valeurs que nous souhaitons promouvoir, et pas uniquement le résultat financier. Contribuer à des communautés positives Nous sommes convaincus que les problèmes du monde sont mieux résolus quand les gens travaillent ensemble plutôt que chacun de leur côté, et que vivre dans une communauté positive apporte une vie plus épanouie. Wij geloven in het aanmoedigen van gedragswijzen en het tot stand brengen van zowel fysieke als sociale structuren die leiden tot een duurzame levensstijl met een positieve milieu-impact waarbij ieder alleen zijn of haar rechtmatige deel van de hulpbronnen van onze planeet gebruikt. Waarden inbedden in het bedrijfsleven en in de samenleving als geheel Wij zijn van mening dat elke actie die we als bedrijf ondernemen en elke beslissing die we als bedrijf nemen, gebaseerd moet zijn op de drie kernthema's People, Planeet, © Yvan Glavie l Ethical Property Europe Annual Report 2013 7 OUR ANNUAL REPORT This Annual Report covers the period from October 2012 to September 2013. It is designed to demonstrate openly the Triple Bottom Line nature of the company by reporting in equal measure our social, financial and environmental achievements. Our intention is to be clear, honest and transparent with our shareholders and all stakeholders. Ethical Property Europe abides by a range of social, environmental and financial performance targets that are set out in a document called the ‘Quintessentials’, shared by the Ethical Property Family members. This document is available on our website at www.ethicalproperty.eu. References to these targets can be found throughout this report. As we work in a multilingual environment, you will find that parts of this document are written in three languages (Fr, En, Nl), and some others in one of the three languages. NOTRE RAPPORT ANNUEL Ce rapport annuel couvre la période d’octobre 2012 à septembre 2013. Il est conçu pour montrer de façon claire notre philosophie du triple bilan en communiquant nos résultats sociaux, financiers et environnementaux. Nos intentions sont d’être clairs, honnêtes et transparents non seulement avec nos actionnaires, mais avec toutes les parties prenantes. Ethical Property Europe s’est engagé à atteindre des objectifs de performance sociale, environnementale et financière qui sont fixés dans un document appelé « Les Quintessentielles », partagé par tous les membres de la famille Ethical Property. Ce document est disponible sur notre site internet www.ethicalproperty.eu. Vous trouverez régulièrement des références à ces objectifs dans ce rapport. Etant donné que nous travaillons dans un environnement multilingue, nous avons décidé de rédiger certaines parties de ce rapport en trois langues (En, Nl, Fr), et d’autres parties dans une seule de ces trois langues. Profit die de waarden weerspiegelen die wij nastreven, en niet alleen op het financiële rendement. Bouwen aan positieve gemeenschappen Wij zijn van mening dat de problemen in de wereld beter worden opgelost door mensen die samenwerken dan door individuen die op eigen houtje werken, en dat wonen in een positieve gemeenschap leidt tot een gelukkiger en meer bevredigend leven. ONS JAARVERSLAG Dit jaarverslag beslaat de periode van oktober 2012 tot september 2013. Het is bedoeld om iedereen inzicht te geven in de ”triple bottomline” van ons bedrijf door in gelijke mate te rapporteren over onze realisaties op sociaal, financieel en ecologisch gebied. We willen duidelijk, eerlijk en transparant zijn, niet alleen tegenover onze aandeelhouders, maar ook tegenover alle stakeholders in ons bedrijf. Ethical Property Europe verbindt zich ertoe sociale, ecologische en financiële doelstellingen te realiseren, beschreven in het document "Quintessentials", dat wordt gedeeld door alle leden van de Ethical Property familie. Dit document kan op onze website www.ethicalproperty.eu geraadpleegd worden. U vindt verschillende verwijzingen naar deze doelstellingen in dit rapport. Aangezien we in een meertalig milieu werken, hebben we sommige delen van dit verslag in drie talen (en, fr, nl) en andere delen in pas een van deze talen, besloten te bewerken. © Yvan Glavie © Yvan Glavie l 8 Ethical Property Europe Annual Report 2013 GROWTH STRATEGY Ethical Property has been consolidating its network of Mundo centres in Belgium for several years now, working closely with the associations that will occupy the premises when the buildings have been completed. From this perspective, 2013 has been an important year, with two new projects making significant progress: we completed Mundo-J, which will open in 2014, and Mundo Antwerp's construction is scheduled to begin that same year. MUNDO-J Launched four years ago by youth-sector associations, Mundo-J is nearing completion. We found a property that is in good condition and well located within the European Quarter, and will take a long-term lease before sub-leasing it to associations from the spring of 2014. After some minor renovation work to bring the property in-line with our specifications (design, sustainable materials, energy efficiency), the building will house 25 associations, with almost 170 workers. These associations will belong to the youth-sector as well as to the wider development and social sector. A successful outcome for Ethical Property and the associations who have supported this project for many years! l Ethical Property Europe Annual Report 2013 9 MUNDO-ANTWERP We have been working on the Mundo-Antwerp project since 2011. The Mundo centre will be built on a plot owned by the city of Antwerp, which has offered us the land on a 99-year long-term lease. This plot has excellent public transport links and borders the EcoHuis, an institution that raises awareness of all aspects of sustainability among the people of Antwerp. There are some exciting potential synergies between both structures. Mundo-Antwerp will be Ethical Property's first new-build. It will be a passive property and mostly built using natural materials. The 2,000m² centre will house office space, meeting rooms and possibly a day-nursery. Our close partnership with the city has led us to launch an architectural design competition to appoint architects to coordinate the building's construction. Given the administrative formalities involved, the permits required and the time frame for the construction work, MundoAntwerp is scheduled to open at the end of 2015. MUNDO-GHENT We have been working on a partnership with a cohousing collective in Ghent since 2013. Our aim is to work together to acquire and renovate an extensive site (7,000m² of construction) in a perfect location just 400m from Ghent's Sint Pieters station. The plan is for the site to serve multiple roles, housing “Mundo”-style offices, a day-nursery and more. It will also share a range of communal equipment, such as a large multi-purpose hall, cars, bikes, green spaces, etc. We are still looking for organisations keen to acquire a part of the site and working on the architectural aspects to ensure we make best use of the land. The city of Ghent's planning office has shown a great deal of interest in this project. l 10 Ethical Property Europe Annual Report 2013 These sketches constitute one of the proposals of the competing architects for Mundo-Antwerp. © Dierendonckblancke - EA+ Architecten OTHER MEMBERS OF THE FAMILY The Ethical Property family is a group of 3 independent companies, each of which manages the activities in their respective country. We share the same values, through our charter “The Quintessentials”. The staff and board members meet each other on a regular basis in order to exchange skills, knowledge and good practice. Hereunder you will read a summary of the year achievements of the other companies of the Ethical Property Family. z Étic Over the past three years… ETIC has begun the construction of its first Mundo centre in the east of Paris: Mundo-Montreuil. The 2 000 sqm centre will host offices, meeting and conferencing space as well as an organic café, housing over 40 organizations. The opening is due in November 2014. Etic is also developing other Mundo-type projects, two of which are quite advanced in Nanterre and in Castres. ETIC has 45 investors, small private shareholders including employees and tenants, business angels and social investment funds. Ethical Property Europe has invested 220.000€ in ETIC in order to support the development of the company and the launch of their first Mundo-centre. Alongside its investment activity, ETIC manages three centres: Le COMPTOIR-étic in Lyon (a co-working space for social entrepreneurs), La-Nef in Lyon (ETIC manages the offices of this Ethical bank and its conference centre) and Le BeeoTop in Paris, 2 000sqm of office and conference space themed on social responsibility. © Agence Py l Ethical Property Europe Annual Report 2013 11 ETIC is committed to cross-collaboration between the ethical property family members. They developed two systems to increase sharing across the family: a videoconferencing system and a specific social network named www.socialchange.org. Initially developed with ethical property in mind, those systems have now attracted other organisations who manage ethical spaces and networks. Since its inception in 2010, ETIC has been recognized in the media with several appearances (TV, radio, article) and prizes: Talents des Cités 2011, Entrepreneure Responsable EWPN 2012, 1er prix Management Développement Durable 2013, etc… Website : www.etic.co z Ethical Property Nederland 2012/2013 EPNL continues to manage Stichting Klein Haarlem, a charity providing offices, co-working desks, meeting rooms, business support and events to creative, cultural and social entrepreneurs in Haarlem. In April 2013, EPNL successfully oversaw Stichting Klein Haarlem’s move to a new building of 1,000m2 providing space to 40 tenants. However this contract is not sufficient to sustain EPNL on its own; over the past year, they have unfortunately failed to secure a suitable property to purchase or lease due to the state of the property market and the challenge in raising finance for property backed schemes in the Netherlands. Website : www.ethicalproperty.nl z Ethical Property in the UK Over the last year the number of tenants in the 15 owned buildings grew from 239 to 263 and there was also a significant increase in demand for space, with the number of enquires having risen by 15%. The occupancy rate reaches 92.7%, compared to a market average of 88%. Ethical Property UK has also been working on two major development projects, which will complement their existing six Property Management Contracts. The Foundry in London will be the largest project ever developed, it will house social justice and human rights organisations. And the Brighton Open Market will provide a home to a range of social enterprises and small businesses. Profit on ordinary activities last year increased to £573k which includes gains from the sale of land and the reversal of some previously written down property values. In addition, after many years of falling or static property values, there has been an increase in values this year. In summary, it has been a challenging but highly rewarding year. Looking forward Ethical Property UK is very excited about the many opportunities that are to come. Website : www.ethicalproperty.co.uk l 12 Ethical Property Europe Annual Report 2013 IN FOCUS This year we decided to focus our attention on organizations that grew up in our Mundo-centres. They first experienced being a member of the Hive, our incubator for very small organizations. They later recruited more staff and could afford to rent their own private office. You will thus read hereafter stories of organizations that developed well within our walls. z Faune & Biotopes asbl Au sein de Faune & Biotopes, nous avons deux objectifs principaux. D’une part, agir pour la conservation de la faune et de la flore sauvages en nous focalisant sur l’amélioration des habitats. Et d’autre part, rechercher le consensus entre les acteurs des territoires, en vue de rendre les actions intégrées et durables. Nous visons plus particulièrement la biodiversité des zones agricoles, où les enjeux sont les plus forts. L’asbl est constituée de personnes ayant des positions et des expériences très différentes les unes des autres. Elle rassemble des chasseurs, des naturalistes non-chasseurs, des forestiers et des agriculteurs. Cependant, nous avons tous au moins un point en commun : nous pensons en termes de conservation des espèces, en nous focalisant sur l'amélioration des habitats. C’est dans ce contexte que nous avons développé différents «départements» spécialisés, mais complémentaires, qui cherchent à proposer des solutions multifonctionnelles et intégrées. Le département « Habitats agricoles » vise une meilleure prise en compte de la faune sauvage dans la gestion agricole. Le département « Faune & chasse durable » cherche à développer des populations de la petite faune des plaines, dont le gibier naturel. Le département « Milieux aquatiques » a pour but la gestion et l’aménagement des zones humides, marais, étangs et rivières. Le département « Habitats boisés » vise à mettre en œuvre une sylviculture douce, économe, qui mise davantage sur la capacité de l'écosystème forestier à se perpétuer et à accueillir la faune. L’asbl s’investit en faveur de la faune sauvage et de ses habitats depuis 2003 et possède, à son actif, plus de 60 projets menés à bien. www.faune-biotopes.org l Ethical Property Europe Annual Report 2013 13 z Food & Water Europe Food & Water Europe is the European program of an American NGO, Food & Water Watch. Food & Water Europe works to ensure the food, water and fish we consume is safe, accessible and sustainable. So we can all enjoy and trust in what we eat and drink, we help people take charge of where their food comes from, keep clean, affordable, public tap water flowing freely to our homes, protect the environmental quality of oceans, force government to do its job protecting citizens, and educate about the importance of keeping shared resources under public control. In a nutshell, we want to protect those common resources that we all depend on: a stable climate, clean air and water, and healthy food. This mission of protecting our essential resources is the reason why Food & Water Europe has taken on a leadership role in a campaign for a global ban on fracking. Fracking is short for high-volume hydraulic fracturing, a technology used to extract oil and /or gas from impermeable rock formations such as shale. Fracking has boomed in North America since the early 2000s. The drilling of more than 150.000 wells to extract shale gas and oil has continued America’s reliance on fossil fuels. In addition, areas with intensive fracking have struggled with reduced air quality and the contamination of groundwater resulting from poorly cemented wells. Last but not least, drilling 1000s of wells every year has resulted in an industrialization of rural areas due to a surge in heavy traffic, well pads, pipelines, compressor stations, etc. Now, fossil fuel companies want to bring the so-called ‘shale revolution’ to Europe. Since 2011, Food & Water Europe has worked with groups across the EU to bring a critical voice to the European debates on fracking and the Brussels-based institutions of the European Union in particular. We also coordinated the Global Frackdown, an international day of action against fracking. Thousands turned out to over 300 events in more than 30 countries, all united around the same message: “Fracking is not part of our vision for a clean energy future and should be banned”. www.foodandwaterwatch.org/europe/ z ERGO Network European Roma Grassroots organisations Network verenigt (pro)-Roma organisaties om de stem van Roma te versterken op lokaal, nationaal en Europees niveau. Ons netwerk heeft meer dan 25 leden afkomstig uit 15 Europese landen. Deze organisaties delen ons uitgangspunt -dat de Roma zelf een actieve rol moeten spelen om als gelijkwaardig burger te worden en om discriminatie te bestrijden. ERGO Network biedt haar leden een effectief platform voor informatievoorziening en uitwisseling van relevante politieke en beleidsmatige ontwikkelingen. We investeren in capaciteitsopbouw van onze leden om de impact van hun werk te vergroten. Met bijna 20 jaar ervaring, heeft ERGO Netwerk unieke ervaring met empowerment van grassroots Roma opgebouwd en fungeert als expertisecentrum voor gelijk burgerschap, sociale integratie en bestrijding van discriminatie. Als geen ander weten we dat integratie van de Roma – Europa’s grootste minderheid, met ongeveer 12 miljoen, die ernstig wordt discrimmineerd en gemarginaliseerd- een moeizaam process is. ERGO Network poogt de kloof tussen de dagelijkse realtieit waarin Roma leven en de ‘Brusselse werkelijkheid’ te overbruggen. Met inbreng van onze l 14 Ethical Property Europe Annual Report 2013 leden lobbyen we voor effectiever beleid voor Roma in Europa. We maken beleidsmakers bewust van het het feit dat diepgewortelde zigeunerhaat een belangrijke oorzaak is van het falen van Europees beleid. En, we investeren in Roma organisaties zodat zij hun overheden ter verantwoording kunnen roepen. Een voorbeeld van ons werk is het RomaReact online platform (www.romareact.org) waar Roma en nietRoma elkaar ontmoeten, uitwisselen en in debat gaan over zaken die hen aangaan. Het online platform is sterk verbonden met de lokale 'offline' activiteiten die onze leden organiseren, zoals straatacties, debatten op scholen en universiteiten en optredens in de media. Op de RomaReact map verzamelen we ‘Romarealities’ – korte artikelen over de dagelijkse realiteit waarin Roma leven en belangrijke actualiteiten die bekend moeten zijn bij een groter publiek. www.ergonetwork.org OUR CENTRES MUNDO-b Property: 4000 square meters Offices let: 2200 square meters – 34 organisations Hive (co-working space) : 23 organisations 8 meeting rooms – 1 conference room Other facilities : restaurant – library – 2 gardens 2013 - A Year of change There have been several tenant changes this year within the Mundo-b tenants. Two organisations left the centre; one for financial reasons, and the other because it lacked the space it required to meet its expansion plans. These departures were offset by the arrival of a new organisation, “Habitat et Humanisme”, and the fact that several of the centre's associations were looking to expand. We have used these changes to relocate the hive to a more comfortable and quiet area. The major reorganisation that took place in summer 2013 brought increased levels of satisfaction for members who moved into premises more suited to their new needs. This flexibility is one of the objectives of the Mundo centres: providing associations with an infrastructure that responds to their changing needs. in April. The newsletter is aimed at members, with the majority of its sections set aside for them to promote their projects, their calls for contributions and their challenges. Produced every two to three months, the newsletter is a fantastic tool to build cohesion within the centre. A user guide has also been produced and distributed to provide members with a better understanding of how Mundo-b operates. It explains the services and infrastructure available and the individual responsibilities of everyone involved. This clear and visual explanation offers members an overview of the opportunities open to them in our centre. © Yvan Glavie Mundo-b in brief The Hive also saw changes this year, including the arrival of new associations. These new members are very pleased with the infrastructure and services on offer and have added dynamism to this initiatives incubator. Communication The Mundo team has been heavily involved in communications. The Mundo-b newsletter was launched l Ethical Property Europe Annual Report 2013 15 On the ethical front, the associations that form the MDD/HDO cooperative (co-owner of the centre with Ethical Property), along with other tenants, have become more involved in the running of Mundo-b. They regularly meet as an ethical committee of “wise persons”, for example to set revised eligibility rules for new members. External Impact Mundo-b hosts hundreds of events every year: conferences, receptions, seminars, workshops, wildplant trading, alternative cocktail events, etc. Some of these are organised by members, others by external associations who rent our premises. Approximately 175 associations rented our rooms last year, a figure that is on the increase. The centre is regularly used as a tool to raise awareness of sustainable construction techniques and environmental management, aimed at professionals from the construction sector and other interested groups. Future Projects and Challenges A multi-year investment plan was drawn up this year. The plan's objective is not just keeping the Mundo-b infrastructure in a good state of repair, but also planning for improvements including new equipment and infrastructure. Plans include improvements to meeting rooms, the installation of video-conference equipment and decoration by artists. z 34 organisations have a permanent office at Mundo-b Alliance for Lobbying Transparency and Ethics Regulation (ALTER-EU) Civil society groups concerned with the increasing influence exerted by corporate lobbyists on the political agenda in Europe Association 21 Works to accelerate the emergence of sustainable development in society Central Eastern Europe (CEE) Bankwatch Network Prevents the harmful environmental and social impacts of international development finance Climate Action Network Europe (CAN) Works to limit human-induced climate change to ecologically sustainable levels Corporate Europe Observatory (CEO) Targets the economic and political power of corporations and their lobby groups Counter Balance European coalition of development and environmental NGO’s that challenges the European Investment Bank to make it a more sustainable and progressive institution ECORES Sustainable development consultancy firm founded by Groupe One Ergo Network Network of organisations, focused on the empowerment and grassroots mobilisation of the Roma people European Coalition for Corporate Justice (ECCJ) Unites and represents civil society organisations in 15 European countries European Environmental Citizens Organisation for Standardisation (ECOS) Increases the ecological performance of products and improves consumer information on sustainable consumption European Network on Debt & Development (Eurodad) Works on issues related to debt, development finance and poverty reduction The Financial Transparency Coalition Global network working to address opacity in the international financial system, which creates inequalities that harm billions of people Forests and the European Union Resource Network (FERN) Works on forests and forest peoples’ rights in the European Union Friends of the Earth Europe (FOEE) Campaigns for sustainable, just societies and environmental protection at a grassroots level Food & Water Europe Monitors the practices of multinational corporations that impact our food and water Global Health Advocates Focuses on engaging all sections of society to fight diseases that disproportionately affect people living in poverty GoodPlanet Belgium Promotes sustainable development, sustainable water management, education and public participation l 16 Ethical Property Europe Annual Report 2013 Groupe One Economists working towards a more responsible economy Habitat et Humanisme* Project initiated by professionals of the building sector who put their skills together to promote and develop social housing projects Inter Environnement Bruxelles Independent organisation campaigning for a better quality of life in Brussels Jeunes & Nature Naturalists addressing young people in their discovery of nature and raising awareness of environmental issues Kamilou Sustainable caterer and restaurant Max Havelaar Works for fair trade agreements for small farmers and agricultural workers in disadvantaged regions Milieuzorg Op School (MOS) Provides environmental education programs in Flemish schools Natagora Promotes nature conservation to the public Naturefriends International Links environmental and social aims, focusing on sustainable regional development and sustainable tourism Netwerk Bewust Verbruiken (NBV) Network for sustainable and responsible consumption Quinoa Development organisation facilitating voluntary work in southern countries Rreuse Works on reuse and recycling issues Saferworld Network of federations preventing armed violence and creating safer communities Seas at Risk Works to protect and restore the marine environment of the European seas Terre des Hommes Fédération Internationale Works for children’s rights, promoting equitable development without discrimination Wake Up Creates video clips to raise public awareness of ecological problems and encourages people to be eco responsible. Werkgroep voor een Rechtvaardige en Verantwoorde Landbouw vzw (WERVEL) Works on sustainable agricultural development overseas and locally z 23 organisations are member of the Hive Organisation Description Country of origin @Vitam.org* Environmental consultancy Belgium ABECE* Environmental advisors grouping Belgium Afrikaans Platform* Umbrella organization of Black-African organizations Belgium A Rocha International A Christian nature conservation organisation UK Better Cotton Initiative Global cotton production improvement Switzerland Changepartnership* Independent platform on sustainable development Belgium Environmental Law Service* Using legal means to protect and strengthen democracy Belgium European Federation of Associations of Environmental Professionals (EFAEP) International exchange of environmental experts UK Foire aux Savoir-Faire Promotion of do-it-yourself techniques Belgium Foodwatch Control of the food industry Germany GlobalFair* Linking eco-social impact & entrepreneurship Belgium Global Water Institute Conflict prevention through water access Belgium * New tenant. l Ethical Property Europe Annual Report 2013 17 Organisation Description Country of origin Gruppo Volontariato Civile (GVC) Volunteers in the South Italy Institut Eco-Conseil (IEC) Training institute for environmental management Belgium Les Jardins de Pomone Biodiversity conservation Belgium Karikol Slowfood Slow Food movement Belgium Ligue des Usagers des Services de Santé (LUSS) Association of users of health care services Belgium Repair Together* Promotion of self-repair and do-it-yourself Belgium Share Development Consulting Group* Response to the Millenium Development Goals Belgium Surfrider Sustainable management of the ocean and coastline France Textual Healing Social editing and copywriting business UK /NL UP!* Social projects consultancy Belgium VSO international* Development organisation fighting poverty UK THE SQUARE DU BASTION SPACE, THE MUNDO-J EMBRYO Ethical Property has been managing a shared office space for three associations from the youth sector since 2011. This space, already known as “Mundo-J”, is just a stone's throw from Mundo-b. It is managed in the same way as our other centres: shared meeting rooms, communal canteen and a wide range of services including IT, cleaning, etc. These associations are spearheading the Mundo-J project and will soon be able to enter their permanent offices in our new centre in the European Quarter. Research organisation aiming at empowering children and youths Missing Children Europe Federation of European organisations active in cases of missing and/or sexually exploited children at grassroots level Vlaamse Scholierenkoepel Organisation for and by pupils on education issues, that represents and defends their interests © Yvan Glavie Kind en Samenleving * New tenant. l 18 Ethical Property Europe Annual Report 2013 MUNDO-NAMUR Mundo-Namur in a brief Property: 3200 square meters Offices let: 1900 square meters 21 organisations Hive (co-working space) : 8 organisations 5 meeting rooms - 3 training rooms 1 conference room Other facilities : restaurant - garden © Yvan Glavie IT Changes Hands A great deal of energy was devoted to this project in 2012-2013. After several years working with our partner “Ethical IT” based in the UK, we decided it was time for a change and turned to a local operator. Despite Ethical IT's best efforts, the remote-working arrangement was often a difficult process. This changeover has produced significant improvements in service quality. An effective IT system is essential for our members. This new partnership should also reduce the cost of this service over the long-term. Community Service © Yvan Glavie Mundo-Namur's members take community service seriously, and pushed for a blood donor service to be set up. A Red Cross mobile unit now regularly calls at the Mundo-Namur car park, offering a full day's blood donor service. Communication We have produced a small Mundo-guide, similar to the Brussels publication, providing an overview of the services available to members. In a related move, the newsletter project was underway at the end of the year, giving an added boost to the synergies and community spirit amongst our members. Throughout the year Mundo-Namur host events that give members the chance to get to know each other in a fun and relaxed atmosphere. Office Changes Restaurant It became clear that the Hive, the co-working space for small associations, was larger than current demand for this type of working space in Namur. Half of the space has therefore been turned into an office rented out to a new organisation. Ethical Property managed the Mundo-Namur restaurant up until the end of 2012. This proved to be a positive experience, with high levels of satisfaction among our members and the restaurant received good rates of attendance. However it became obvious that the catering sector is a specialized and complex field and we were unable to turn this into a profitable activity. We therefore decided it would be best to return to a system of external management run by an independent operator. The manager of the Mundo-b cafeteria, Kamilou, agreed to take over the management of the restaurant at the start of 2013, for a period of one year and on a renewable basis. An association left the building at the end of the year due to insufficient space to meet its expansion plans. Most of the space it occupied has been rented out, but a small section is still vacant. This will be a focus for the coming year. l Ethical Property Europe Annual Report 2013 19 z 21 associations rent office space Amis de la Terre Environmental association active in educating the public to environmentfriendly behaviours Bioforum Wallonie Coordination of the stakeholders in the organic sector CP Bio Technical training for the organic producers, coordination of initiatives in organic agriculture Droits quotidiens Legal advice and support for disadvantaged people écoconso Promoting environmental and healthy consumption patterns Empreintes / CRIE de Namur Awareness, training and mobilisation of youth in ecological values Faune et Biotopes Federation linking farmers, environmentalists, hunters and others concerned with rural land management Fédération Francophone d’Equitation et d’attelage de loisir (FFE) Promotes equestrian leisure and tourism Fédération Inter-Environnement Wallonie Federation of Walloon environmental organisations Forêt Wallonne Promotes sustainable forests in the Walloon Region Institut Eco-Conseil Offers training for eco-counselors Ligue des Familles Promoting families’ common interests Natagora Nature protection association Objectif 2050 Develops tools and skills for the reduction of greenhouse gas emissions Oxfam Magasins du Monde Association active in the fair trade sector Plain Pied Specialises in accessibility for people with limited mobility Réseau Idée Environmental education information network Ressources Federation of social economy organisations that collect, sort, recycle and resell products at the end of their lifecycle Sentiers de Grande Randonnée Promotes, creates and maintains walking paths Sentiers.be Association for the defense and promotion of paths and trails Valorisation touristique des parcs et jardins historiques de Wallonie Promotes Wallonia’s listed gardens and outstanding heritage z 8 organisations are member of the Hive ABECE Association of environmental advisors APERe Organisation promoting renewable energy Cercles des Naturalistes de Belgique Courses, trainings, activities for youth and adults interested in nature Décroche tes rêves* Coaching for youth, parents and adults Emissions-Zéro* Citizens cooperative investing in renewable energy production plants F.S.C. Belgium Supports global sustainable forestry and promotes FSC labelled products Groupe One Economists working towards a more responsible economy Service Citoyen Campaigning for a Volunteer Citizen Service for young Belgians * New tenant. l 20 Ethical Property Europe Annual Report 2013 SOCIAL PERFORMANCE OUR MEMBERS ACTION AREAS As of 30 September 2013, our centres had about 89 permanent tenants. Out of these, 31 were in the “Hive” co-working spaces. A total of 272 associations, including 187 external associations, used our conference and meeting spaces over the course of the year. Compared to last year, all these trends have increased: the Hive tenancy in Brussels rose up as did the number of external associations renting our meeting spaces (+ 13%). Almost half of our members are actively engaged in environmental or sustainable development issues. Nearly 20% are active in the field of resource distribution and social justice. In terms of their size, over half of our tenants have between one and five employees, with only a small minority having over 20 employees. This matches Ethical Property's aim of prioritising support for smaller organisations. 44 Global justice 16 Local business 5 Civil rights 5 Local community development 5 Development Cooperation 4 Health 3 Peace and conflict resolution 2 Refugees and minority issues 2 Community arts 1 Organisational support 1 Human rights 1 Total 89 © Yvan Glavie Almost 80% of our tenants are associations (non-profit organisations and NGOs). The remaining 20% are foundations, federations of associations and, to a lesser extent, social companies. Environment l Ethical Property Europe Annual Report 2013 21 MEMBER SATISFACTION Ethical Property has set itself a series of member satisfaction objectives to achieve, outlined in our “Quintessential” charter. The results are assessed each year through a satisfaction survey. Comparing these results to those of previous years provides us with a realistic picture of our progress towards meeting these objectives. We study these results in great detail to highlight areas where we need to improve the services we offer. The assessment scale runs from very satisfied (5/5) to very dissatisfied (1/5). A score of 3/5 is seen as satisfactory, with a score of 4/5 considered the “best practice” target. A total of 187 people responded to the survey this year, representing almost 40% of our members. A summary of the results of the satisfaction survey is presented in the table below. Along with the management committees (bi-monthly meetings of associations representatives to discuss centre and project management), the annual survey is an important way of receiving feedback on our services. Mundo-b Overall satisfaction with management and facilities Mundo-Namur 2012 2013 2012 2013 4,1 4,1 4,1 3,7 Quality of services 4 3,7 3,5 3,4 Quality of facilities 4,1 4 4,3 3,9 Offices and meeting rooms 3,8 4 3,8 3,4 Rental level value 3,8 3,9 3,3 3,2 IT services 3,5 3,4 3 3,1 Reception services 4,3 4,3 4,3 4 4 4 3,6 3,5 Enhancing the visibility of tenants 3,9 3,8 3,8 3,4 Synergies and collaborations 3,5 3,6 3,6 3,4 Sustainable management 4,4 4,2 4,4 3,9 Support to emerging and small organisations 3,4 3,5 3,5 3 Support to strategic objectives 4,2 4,1 3,9 4 Management of the centres Cleanliness of offices and meeting rooms Satisfaction with life of the centres and the opportunities they bring Life and atmosphere of the centres Consistency of our practices with our values On the whole our members were satisfied, with an average score of 3.5 at Mundo-Namur and 3.9 at Mundob (close to the “best practice” target). There was a slight improvement in overall satisfaction for Mundo-b. MundoNamur, however, saw the reverse trend. Sources of dissatisfaction have been identified: several internet breakdowns and sensitive heating and ventilation controls. Our team is working to resolve these technical l 22 Ethical Property Europe Annual Report 2013 4 4,3 4,2 3,9 4,1 4,1 3,9 3,6 issues. The problematic fittings have been extensively overhauled. Day-to-day life within our centres continues to be highly appreciated by our members. Workers feel comfortable within the spaces; a healthy and stimulating environment where they share their ideas with people from similar fields. ENVIRONMENTAL PERFORMANCE ENERGY Heating consumption rose slightly in 2013, partly due to last year's particularly cold winter. However, “best practice” targets have still been met. To reverse the trend in rising consumption we will strengthen raising awareness Mundo-b consumption (kWh/m2/year) campaigns among members about rational use of heating. Electricity consumption remained unchanged from the previous year. Mundo-Namur Ethical Property Best practice Standard office building 2012 2013 2012 2013 Woodchips 26 22 26 32 - - Gas 23 43 2 4 - - Total heating consumption 49 65 29 37 60 113 Consumed electricity 48 49 50 47 - - Generated electricity 3 3 2 3 - - Total electricity consumption 51 52 51 50 60 125 Total energy consumption 101 117 80 86 120 238 l Ethical Property Europe Annual Report 2013 23 RENEWABLE ELECTRICITY Our Mundo-b and Mundo-Namur centres are equipped with 150 m² of photovoltaic solar panels. They cover around 6% of the buildings' electricity consumption and produce 20,000 kWh each year, which we can then use without producing any CO². energy based on the sector's strictest standards. Our new suppliers are the greenest available on the market and they both cater us with 100% renewable and nonnuclear energy. Below is a comparison of our energy mix with the Belgian average energy mix: To minimise the impact of our consumption of external sources of energy, we have chosen suppliers of green z Energy Mix Belgian average Coal-fired power plants: 4% l l l l Gas-fired power plants: 40% Nuclear power plants: 50% Renewable energy (hydraulic, windturbines, …): 6% z Energy Mix Mundo-centres solar energy: 1% l l l hydraulic energy: 19% Wind turbines: 80% CO² EMISSIONS Our decision to select renewable sources of energy means our CO² emissions are considerably lower than a traditional player in the same sector. And it's not just most of our Mundo-b electricity that is renewable; our heating fuel is too, with 52% of our fuel in the form of pellets made of waste wood from Belgian saw mills. Standard office of the same size as Mundo-b MundoNamur Standard office of the same size as Mundo-Namur 2013 2013 Pellets 2.4 3.4 Gas 31.9 83 3 78.2 Electricity 0.9 97.6 1 92 Solar panels Total CO2 produced 35.2 CO² emissions avoided WATER Water consumption at Mundo-b went down this year, falling from 15 to 11 litres per person, per day. Consumption at Mundo-Namur remained static at 14 litres per head. l 24 Ethical Property Europe Annual Report 2013 180.6 145.4 7.4 170.2 162.8 WASTE Our comprehensive approach to the issue of waste enabled us to recycle over two-thirds of the waste generated by our centres. Both common waste and specific smaller waste is recycled and transferred to recycling processes to be dealt with in an appropriate way (electronic, cork, water filters, ink cartridges, etc.). Organic waste is composted in our gardens. Our centres constitute points of collection for the recycling of all these types of waste. We are also making our members aware of the problems associated with waste. As part of this initiative, we organised the Troc de Trucs event in partnership with our members actively engaged in waste management. This was a large-scale, and fun, donation event, where members exchanged clothing or other items they no longer needed. This year 200 kg of items found a new home. And finally, in partnership with a rehabilitation through work organisation, we managed to recover the furniture from a telecoms company. This win-win partnership helped us both to re-equip ourselves with high-quality furniture at virtually no cost, while giving these objects a second lease of life. ECOTEAM Our teams are working to involve our tenants in the environmental management of our buildings. Firstly, because we should all try to take small steps to save energy, thereby keeping our energy consumption to a minimum. And secondly, because getting tenants actively involved is an effective way of raising awareness of this issue. This is why an Ecoteam regularly brings together willing minds to set up a range of actions. In February, two members of the Ecoteam produced cutting-edge videos that had an impact well beyond the Mundo centres themselves: they were nominated for the Environment & Energy Award 2013 and received an award for most innovative communication at the European Green Office Award 2013. TENANTS TRAVEL TO WORK Our members' travel patterns remained the same as in previous years. Our centres are located in urban environments that are relatively well-served by public transport, and encourage alternative means of transport to the car. In fact, less than one in eight people travel to the office by car. We moreover put several systems in place to promote a rational transport policy: shared bikes, car-pooling (cambio), extensive bicycle parkings, showers for cyclists, bike repair station, etc. Cycling: 21% Car sharing: 2% Car: 12% l l l l l l Walking: 11% Public transportation: 53% Motorcycle / scooter: 1% l Ethical Property Europe Annual Report 2013 25 OUR STAFF EPE had 16 members of staff as of 30 September. Staff Statistics 2012 2013 Number of full-time staff 7 6 Number of part-time staff 13 10 14,4 11,9 Youngest staff member 18 27 Oldest staff member 67 55 Full-time Equivalent Average age 38,2 39 Highest paid worker € 50.380 € 51.253 Lowest paid worker € 20.553 € 25.240 2,5 2 Ratio of highest to lowest salary The team decreased this year, as the Mundo-Namur restaurant was taken over by Kamilou, an external provider. We therefore had to terminate the contracts of the three employees assigned to this activity, although one of these has since been hired by the new operator. The rest of the team remained quite stable. Mundo-b's handyman took retirement and has been replaced. Two young mothers went on maternity leave in the past year. HUMAN RESOURCES POLICY We always consider the social dimensions of recruitment when taking on new staff: creating partnerships with rehabilitation organisations, or offering an opportunity to someone with a difficult background. Our salary scales l 26 Ethical Property Europe Annual Report 2013 are based on the non-profit sector, providing a more favourable grid than the sector we rely on. Employees also receive luncheon-vouchers and a higher number of days of paid leave than the legal minimum. TRAINING Continuous training for staff is essential to their empowerment and progress. We encourage the team to improve its skills through high-quality training. And we are firm believers in giving young people their first taste of the world of work by offering them the chance to train within our company. We therefore welcome trainees several times a year. STRATEGIC THINKING We organise a “blue sky thinking” day every year, not only to involve members of staff in strategic thinking on the company's future, but also to look back on the previous year. This period of reflection is also a chance to strengthen the bond between employees, as the geographical spread of our locations means that many never get the chance to meet on a regular basis. GENDER EQUALITY We try to maintain gender equality within the company as far as possible. EPE has slightly more female than male employees, with a full breakdown listed in the table below. Level in company Female % Directors 1 Senior managers Managers and higher skilled employees 2012 Male % Total Female % 17% 5 83% 6 1 0 0% 2 100% 2 4 80% 1 20% 5 Less skilled and junior employees 9 69% 4 31% Total 13 65% 7 35% 2013 Male % Total 20% 4 80% 5 0 0% 2 100% 2 3 75% 1 25% 4 13 6 60% 4 40% 10 20 9 56% 7 44% 16 © Yvan Glavie © Yvan Glavie l Ethical Property Europe Annual Report 2013 27 THE BOARD OF DIRECTORS z Anne Vleminckx Non-Executive Director and Chair Anne graduated from the Catholic University of Leuven in 1975. She worked as a research assistant at the Centre for Economic Studies at the University before joining Generale Bank where in 1990 she became Manager for Corporate Communications. In 1996 she left the bank to become Vice Chairwoman of the management committee of the Brussels Stock Exchange where she was responsible for marketing and finance. She joined Agfa Gevaert in 2001 as head of Corporate Communication before becoming Chief Financial Officer in 2005. She left Agfa Gevaert in 2008. She now works as financial advisor. z Frédéric Ancion Managing Director Frédéric trained as a bio-engineer specialised in economics. He has 13 years of experience in the development of environmental and collaborative projects on behalf of community and other groups. First employed in the non-governmental sector, Frederic then set up his own consultancy company. He was instrumental in launching organic food cooperatives and has conducted a number of feasibility studies in the sustainable development sector. Since 2007, Frédéric has worked, first with the Ethical Property Company (UK) and then with Ethical Property Europe on the purchase, renovation and financing of the Mundo centres in Brussels and Namur and on the development of future centres. He is the Managing Director of Ethical Property Europe since 2010. Frederic is Chairman of the non-profit organisation écoconso asbl. l 28 Ethical Property Europe Annual Report 2013 z Bob Burlton Non-Executive Director Bob was Chief Executive of Oxford & Swindon Co-operative Society from 1987 to 2006. He was elected as director of The Co-operative Bank in 1993 and was Chair of Co-operative Financial Services, which is responsible for national co-operative banking and insurance business in the UK (2004-2010). Until recently, Bob chaired or was a director of several cooperatives, among which were the Phone Co-op, an Ethical Business providing telephony services; Co-operatives UK, the apex body of co-operative societies in the UK, and a member of the Board of the Cooperative College and the Co-operative Group (CWS), where he oversaw as Chair the merger with United Co-operatives, which created the largest consumer co-operative in the world. He joined the Ethical Property Company in the UK as a non-executive Director in 2009 and is now the Chair of the Company. z Pierre Collette Non-Executive Director Pierre holds a Master in Real Estate from the Solvay Business School and has 24 years of experience in the real estate sector in Belgium and abroad. Pierre has been an Equity Partner and member of the Board at Cushman & Wakefield Belgium during several years. He is now acting for them as Senior Consultant. He has special responsibility for development and sustainability issues and for the “Office Agency” department. Pierre advises Ethical Property Europe on its property purchases. z Eric De Keuleneer Non-Executive Director Eric is Chief Executive Officer of Credibe, a state-owned credit institution, and a senior lecturer at the Solvay Brussels School of Economics (ULB). He was previously head of Corporate and Investment Banking at Generale Bank, which later became Fortis. Eric is on the board of non-governmental organisations The World Wildlife Fund Belgium, where he is vice-chair, and University Foundation, where he is Executive Director. He also sits on a number of other boards including the social loan fund Crédal, Mobistar, Keytrade Bank and Bank Delen, Lampiris (a supplier of energy to EPE), and Pension Fund Management Companies Amonis and Hydralis. l Ethical Property Europe Annual Report 2013 29 FINANCIAL HIGHLIGHTS This section illustrates the key financial indicators of the EPE group, the evolution of the activity and the interests of the directors in the capital of the company. operating performances. This disclosure is prepared in accordance with the International Financial Reporting Standards for SMEs (IFRS for SMEs). EPE SA, which operates under the name Ethical Property Europe, is the holding company. The group includes three subsidiary companies, from which two operating companies: Brussels Sustainable House SA (for Mundo-B) and Green Property SCRL (for Mundo-Namur). Shareholders have a direct stake in the holding company EPE SA/NV, the company from which dividends can be paid. Following a detail review of our activities, the management has been able to allocate all direct operating costs to the Property Operating Result except the salary costs. In addition, following an advice given by our tax advisor, we have derecognised the deferred income tax assets of the entities Green Property SCRL and Ground Property SCRL as they will not achieve positive statutory results within five years, mainly because of the recognition of the depreciation costs. Consequently, the accounts of prior year have been restated. The management decided to present the result of the entire group to disclose the financial position and the EVOLUTION OF FINANCIAL POSITION FOR THE YEAR ENDED 30 SEPTEMBER 2013 At the level of the statutory entity (EPE SA/NV), the total profit carried forward which could be distributed as dividend amounts to €161.582: total profit carried forward (€179.022) minus the establishment costs of €17.440. At consolidated level, the main evolutions are as follows: z The net consolidated property result increased from €1.022.343 to €1.064.165 for the year ended 2013. z The management has not proceeded this year to a formal valuation of the fair value of the properties. An interim value has been calculated on the basis of a technical review and on a market review. The key results of this review are the following: • ABEX index increased by 1,37 • An increase of the risks in the Brussels market showing a higher percentage of vacancy • The Namur market is very stable and the demand for office space does not fully meet the supply • Accordingly, the management has increased the premium risk on the Mundo-B by 0,50% whilst the risk evaluation for Namur has not been modified • We anticipate for next year a net operating result* of €1.102.647 for the two properties which takes into account the increase of the total rental income and a better control on the expenditures of Mundo-Namur. * In accordance with the IFRS for SME principles, the terminal value is closely linked with the discounted cash flow of the net operating result l 30 Ethical Property Europe Annual Report 2013 Based on the review carried out by the management, the fair value is adjusted respectively by € 63.910 for Mundo-B and by €45.482 for Mundo-Namur, resulting in a portfolio result for the year of € 109.392. z The EBITDA (Earnings Before Taxes and Depreciation and Amortization)* calculation evolves from €747.476 for the year ended 30/09/2012 to €601.757 for the year ended 30/09/2013. The management notes that this negative evolution is impacted by the portfolio result showing a lower increase of the value of the properties this year. z This EBITDA is however positively impacted by the evolution of the free cash flow** that increased by €50.747 for the year ended 30/09/2013: the free cash flow amounts to € 236.187 this year vs €185.440 for the prior year. z The net cash generated from operating activities evolves from €121.568 for the year ended 30/09/2012 to €205.241 this year (including a positive change on the working capital compared to last year of €32.926). z The consolidated statement of comprehensive income indicates that the net result of the entire activities amounts for the year to €111.248. Taking into account the non controlling interest of our company, the comprehensive income for the year (the result out of which we have deducted the one belonging to MDD owning 50% of BSH) is €26.809. z The consolidated net assets amounts to €6.781.532 before distribution of dividend, including a capital of €5.254.600, a loss carried forward of €49.064 and a minority interest of €1.575.996. z On the basis of the results of the group and those of the holding company, the management has decided to propose to the Annual General Meeting the payment of a dividend of 1,5 cents per share. After the distribution of the dividend (€78.819), the net assets amounts to €6.702.712. z This change in equity allows the group to disclose a Net Asset Value per share that remains at €0,99 after the payment of the dividend. DIRECTORS The directors listed below served for all or part of the year. Their interests in the company's issued share capital as of 30 September 2013 were: Shares Jamie Hartzell Frédéric Ancion Eric de Keuleneer Pierre Collette Anne Vleminckx Bob Burlton 25,186 12,000 10,000 4,500 0 0 OUR SHAREHOLDERS 34 individuals and institutions have invested in the company since it was founded. The full breakdown of shareholdings was as follows, as of 30 September 2013. Size of shareholding From 1 to 50,000 shares From 50,001 to 100,000 shares From 100,001 to 250,000 shares From 250,001 to 500,000 shares More than 500,001 shares Total Number of shareholders 22 4 4 2 2 34 Number of shares 826 186 370 000 900 000 610 000 2 548 414 5 254 600 % of all shareholders % of all shares 65% 12% 12% 6% 6% 100% 16% 7% 17% 12% 48% 100% AUDITORS The consolidated financial statements have been audited by Rosier & C°. Brussels, 11 February 2014, On behalf of the board of directors of EPE SA/NV Frederic Ancion, Managing Director ** ** EBITDA= Operating result + depreciation + amortization Free cash flow= Net Profit and loss result minus all non cash elements l Ethical Property Europe Annual Report 2013 31 EPE SA STATUARY ACCOUNTS Balance sheet Bilan Balans Year Exercice Boekoefening 30 Sept 2013 30 Sept 2012 ASSETS ACTIF ACTIVA Fixed assets Actifs Immobilisés Vaste Activa € 2.771.428 € 2.355.467 € 17.440 € 53 841 € 424 € 1 608 Tangible assets Immobilisations corporelles Materiële vaste activa € 74.165 € 80 618 Investments Immobilisations financières Financiële vaste activa € 2.679.400 € 2 219 400 Current assets Actifs Circulants Vlottende Activa € 2.790.931 € 3 195 404 Debtors of one year or more Créances à plus d’un an Vorderingen op meer dan een jaar € 2.255.000 € 2 355 000 € 11.126 € 24 467 Debtors of less than one year Créances à un an au plus Vorderingen op ten hoogste een jaar € 263.686 € 781 459 Cash at hand and in bank Valeurs disponibles Liquide middelen € 197.186 € 23 909 Accruals Comptes de régularisation Overlopende € 63.933 € 10 568 € 5.562.360 € 5 550 870 Start-up costs Frais d'établissement Oprichtingskosten Intangible assets Immobilisations incorporelles Immateriële vaste activa Projects development Développement de projets Ontwikkeling van projecten Total assets Total de l’actif Totaal der activa l 32 Ethical Property Europe Annual Report 2013 Balance sheet Bilan Balans Year Exercice Boekoefening 30 Sept 2013 30 Sept 2012 LIABILITIES PASSIF PASSIVA Equity Capitaux Propres Eigen Vermogen € 5.403.465 € 5 399 430 Share capital Capital Kapitaal € 5.254.600 € 5 254 600 Reserves Réserves Reserves € 14.588 € 10 391 Grants Subsides Subsidies € 12.912 € 13 988 Carried over profit / loss Bénéfice / perte reporté(e) Overgedragen winst / verlies € 121.365 € 120 450 Debts Dettes Schulden € 158.895 € 98 894 € 6.649 € 7 203 Debts of less than one year Dettes à un an au plus Schulden op ten hoogste een jaar € 69.427 € 83 691 Dividends of the year Dividendes de l'année Dividenden van het jaar € 78.819 € 52 546 € 4.000 € 8 000 € 5.562.360 € 5 550 870 Turnover Ventes et Prestations Bedrijfsopbrengsten € 364.575 € 356 981 Projects development activation Activation développement de projets Activeren van projectontwikkeling € -22.644 € 21 853 Deferred taxes Impôts différés Vertraagde belastingen Accruals Comptes de régularisation Overlopende Total liabilities Total du passif Totaal der passiva Profit and loss Compte de résultat Resultatenrekening € -431.481 € -483 962 Directors or managers Administrateurs ou gérants Beheerders of zaakvoerders Expenses Coûts des Ventes et Prestations Bedrijfskosten € -87.814 € -103 648 Other goods and services Services et biens divers Diverse goederen of diensten € -49.074 € -58 416 Salaries Rémunérations Bezoldigingen € -246.341 € -233 036 Depreciation Amortissements Afschrijvingen € -48.280 € -56 897 € 9.303 € -9 183 € -9.276 € -22 781 Project development value decrease Réduction de valeur développement de projets Waardekorting projectontwikkeling Other charges Autres charges Andere Kosten l Ethical Property Europe Annual Report 2013 33 Profit and loss Compte de résultat Resultatenrekening Year Exercice Boekoefening 2013 2012 Gross profit Résultat d’exploitation Bedrijfsresultaat € -89.551 € -105 128 Interest receivable and other financial income Produits financiers Financiële opbrengsten € 173.109 € 195 985 € -183 € -240 € 83.376 € 90 618 €- €- € 83.376 € 90 618 € 554 €- € 83.930 € 90 618 € 83.930 € 90 618 € 120.450 € 86 909 Appropriation to reserves Dotations aux réserves Toevoeging aan het eigen vermogen € -4.197 € -4 531 To the Legal reserves A la réserve légale Aan de wettelijke reserve € -4.197 € -4 531 € -78.819 € -52 546 € -121.365 € -120 450 Interest payable Charges financières Financiële kosten Profit on ordinary activities before taxation Résultat courant de l'exercice avant impôt Resultaat uit de gewone bedrijfsuitoefening Exceptional revenues Revenus exceptionnels Ongewone opbrengsten Profit before taxation Résultat de l'exercice avant impôt Resultaat van het boekaar vóór belastingen Transfer from the deferred taxes Prélèvement sur les impôts différés Overschrijving van de vertraagde belastingen Profit/loss for the year Résultat de l'exercice Resultaat van het boekjaar Appropriation account Affectation et prélèvements Resultatenverwerking Profit/loss of the bookyear to be appropriated Résultat de l'exercice à affecter Te bestemmen resultaat van het boekjaar Profit/loss carried over from last year Résultat reporté de l'exercice précédent Resultaat overgedragen van vorig boekjaar Dividends Dividendes Dividenden Profit/loss to be carried over Résultat à reporter Over te dragen resultaat l 34 Ethical Property Europe Annual Report 2013 AUDITED FINANCIAL ACCOUNTS CONSOLIDATED FINANCIAL STATEMENTS OF ETHICAL PROPERTIES EUROPE PREPARED UNDER IFRS FOR SME(S) Note: The Consolidated financial statements illustrated in the annual report are a condensed summary of the full report which can be obtained upon request to Mr. Fréderic Ancion (e-mail: [email protected]). The notes and disclosures to the consolidated financial statements together with the audit report are excluded from this condensed version. z A. CONSOLIDATED BALANCE SHEET Year to 30-sept-13 € Year to 30-sept-12 € 13.377.487 13.389.938 2.165 4.731 ASSETS Non Current assets Intangible assets Positive consolidation differences 440.743 528.892 12.465.198 12.355.848 Other properties, plant and equipment 179.079 221.872 Participating Interests 220.000 60.000 Other Financial Assets 3.054 3.504 Deferred Income tax assets 67.248 215.091 Current assets 858.872 615.770 Inventories 11.126 24.467 Debtors 146.069 173.662 Cash and cash equivalents 333.397 123.131 Prepayments and accrued revenue 368.280 294.510 14.236.359 14.005.708 Equity 6.702.713 6.670.284 Share capital 5.254.600 5.254.600 Investment properties TOTAL ASSETS EQUITY, PROVISIONS AND LIABILITIES Consolidated reserves -127.883 -75.873 Non-controlling interests 1.575.996 1.491.557 Non-Current Liabilities 6.207.684 6.042.950 Borrowings 4.843.633 4.629.071 Deferred taxes liabilities 661.605 710.437 Other Non-Current liabilities 702.446 703.442 l Ethical Property Europe Annual Report 2013 35 Year to 30-sept-13 € Year to 30-sept-12 € 1.325.962 1.292.474 Borrowings 484.899 460.821 Trade and other payables 362.222 340.718 1.802 0 477.039 490.935 14.236.359 14.005.708 For the year ended 30 September 2013 € For the year ended 30 September 2012 (Restated) € 1.445.835 1.408.360 Current Liabilities Current tax liabilities Accrued expenses and deferred revenue TOTAL EQUITY, PROVISIONS AND LIABILITIES z B. CONSOLIDATED PROFIT AND LOSS Rental Income and Other Operating Revenue Property Expense -381.670 -386.016 Property Operating Result 1.064.165 1.022.343 Goods and Services -212.797 -218.965 Salary costs -430.040 -418.729 Depreciation -57.759 -57.806 Depreciation Positive Consolidation differences -88.149 -88.149 Other Income 139.957 161.822 Other expense -68.919 -79.810 (+/-) Total corporate overheads and other operating revenue and expense -717.707 -701.637 Operating Result Before Result on Portfolio 346.458 320.706 Changes in fair value of investment properties 109.392 280.815 (+/-) Portfolio Result 109.392 280.815 Operating Result 455.849 601.521 Financial income 12.315 24.779 Financial expense -252.753 -292.041 (+/-)Gains or Losses on disposals of investment properties (+/-) Other non operating income and expense 0 -687 3.236 (+/-) Financial and non operating result -241.126 -264.026 Pre-Tax Result 214.723 337.495 (+/-) Transfer from deferred taxes and to deferred taxes -103.475 -40.179 Corporation Tax 0 0 -103.475 -40.179 NET RESULT 111.248 297.316 A NON-CONTROLLING INTEREST 84.439 233.315 B GROUP INTEREST 26.809 64.001 0,01 0,01 (+/-) Total corporation tax and deferred taxes BASIC NET RESULT AND DILUTED (€/SHARE) (GROUP SHARE) l 36 Ethical Property Europe Annual Report 2013 z C. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the years ended 30 September 2013 and 30 September 2012 Year to 30 Sep 13 € Year to 30 Sep 12 € OTHER COMPREHENSIVE INCOME 111.248 297.316 Non controlling interests -84.439 233.315 Total comprehensive income Group Share 26.809 64.001 z D. CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Equity as at 30 September 2012 Share Capital Retained earnings € 5.254.600 Capital Increase Noncontrolling Interest Total € Total attributable to owners of parent € € € -75.873 5.178.727 1.491.557 6.670.284 0 0 0 Other Comprehensive income Net Result for the year 26.809 26.809 Amount of dividends recognised as distributions -78.819 -78.819 -78.819 0 0 0 Revaluation surplus/deficit* Currency translation difference 111.248 0 0 0 -52.010 -52.010 84.439 32.419 5.254.600 -127.883 5.126.717 1.575.996 6.702.713 1 -0,01 0,99 Total changes in equity Equity as at 30 September 2013 84.439 Equity per share 0 z E. CONSOLIDATED CASH FLOW STATEMENT As from this year onwards, we will use the direct method to present the cash flow statement. The cash flow for the year ended 30 September 2012 has not been restated: For the Year Ended 30-sept-13 € For the Year Ended 30-sept-12 € Cash flows from operating activities (direct method) Cash receipts from tenants 1.414.528 Cash receipt other operating income 147.232 Cash paid to suppliers -658.719 Cash paid to employees and related expenses -444.688 sub-total Cash generated from operations 458.354 Other non operating income and expense Interest paid Income taxes paid -359 -252.753 0 sub-total Cash generated from other operating activities -253.112 Net cash generated from operating activities 205.241 121.568 * Revaluation surplus and deficit concerns assets which are not measured at fair value. l Ethical Property Europe Annual Report 2013 37 For the Year Ended 30-sept-13 € For the Year Ended 30-sept-12 € Cash flows from investing activities Acquisition of subsidiary, net of cash acquired -160.000 Purchases of investment properties Purchases of other property, plant and equipment (PPE) -51.450 -75.990 -12.340 -33.537 -387 -497 Proceeds from sale of PPE Purchases of intangible assets Purchases of available-for-sale financial assets Grants received Net cash used in investing activities 19.084 -172.727 -142.389 Cash flows from financing activities Proceeds from issuance of ordinary shares Proceeds from borrowings 440.000 100.000 Repayments of borrowings -209.702 -193.844 Proceeds from loan from subsidiary undertaking Dividends paid to company’s shareholders -52.546 Dividends paid to holders of redeemable preferences shares Dividends paid to minority interests Net cash used in financing activities 177.752 -93.844 Net (decrease)/increase in cash, cash equivalents and bank overdrafts 210.266 -114.664 Cash, cash equivalents and bank overdrafts at beginning of year 123.131 237.795 Exchange gains/(losses) on cash and bank overdrafts Cash and cash equivalents at the end of the year - continuing operations 0 0 333.397 123.131 z F. AUDIT Our auditor is Rosier & CO represented by Stephane Rosier. The scope of the audit is a contractual mission to express an independent opinion on the consolidated statements of the business combination made out of the four companies EPE SA, Brussels Sustainable House SA, Green Property SCRL and Ground Property SPRL and excludes the execution of an individual statutory audit on any of these components nor a contractual audit on the individual financial statements. The auditor has issued an audit opinion on 17 February 2013. This audit opinion is an unqualified opinion on the consolidated financial statements of the EPE group for the year ended 30 September 2013. l 38 Ethical Property Europe Annual Report 2013 Graphisme : Beltza Ethical Property Europe sa Mundo-B, Rue d’Edimbourg 26 1050 Brussels, Belgium Telephone: +32 (0)2 894 4660 www.ethicalproperty.eu
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