Our strategy | Who we are

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class="c-nav-link">Our history</a> </div> </div> </div> </div> </div> </div> <div class="c-nav-item has-subnav js-nav" data-nav="markets"> <a href=/en/markets class="c-nav-link">Markets</a> <div class="c-nav-flyout js-nav-flyout"> <div class="c-nav-flyout-container"> <div class="c-nav-flyout-col"> <div class="c-nav-intro"> <div class="c-nav-intro-text"> <p>We work across eight key market sectors and deliver environmental and engineering consultancy services and solutions from the initial concept phase, right up to the delivery of our client’s programmes.</p> </div> <a href="/en/markets" class="s-button-main">Visit this section</a> </div> </div> <div class="c-nav-flyout-col c-nav-subpages js-nav-pages"> <div class="c-nav-screen js-nav-screen" data-nav-screen="markets"> <div class="c-nav-page"> <a href="#0" class="c-nav-back js-nav-back">Back</a> <a href="/en/markets" class="c-nav-landing">Markets</a> </div> <div class="c-nav-item-title">Markets</div> <div class="c-nav-item has-subnav 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<a href="/en/markets/automotive/off-highway-vehicles" class="c-nav-link">Off highway</a> </div> <div class="c-nav-item" > <a href="/en/markets/automotive/passenger-vehicles" class="c-nav-link">Passenger</a> </div> </div> </div> <div class="c-nav-screen js-nav-screen" data-nav-screen="markets-energyutilitiesandwaste"> <div class="c-nav-page"> <a href="#0" class="c-nav-back js-nav-back">Back</a> <a href="/en/markets/energy-utilities-and-waste" class="c-nav-landing">Energy, utilities and waste</a> </div> <div > <div class="c-nav-item" > <a href="/en/markets/energy-utilities-and-waste/energy-infrastructure" class="c-nav-link">Energy infrastructure</a> </div> <div class="c-nav-item" > <a href="/en/markets/energy-utilities-and-waste/waste-and-resource-management" class="c-nav-link">Waste</a> </div> <div class="c-nav-item" > <a href="/en/markets/energy-utilities-and-waste/water-management" class="c-nav-link">Water</a> </div> </div> </div> <div class="c-nav-screen js-nav-screen" data-nav-screen="markets-governmentandpublicsector"> <div class="c-nav-page"> <a href="#0" class="c-nav-back js-nav-back">Back</a> <a href="/en/markets/government-and-public-sector" class="c-nav-landing">Government and public sector</a> </div> <div > <div class="c-nav-item" > <a href="/en/markets/government-and-public-sector/central-government" class="c-nav-link">Central government</a> </div> <div class="c-nav-item" > <a href="/en/markets/government-and-public-sector/cities-and-regional-government" class="c-nav-link">Cities and regional government</a> </div> </div> </div> <div class="c-nav-screen js-nav-screen" data-nav-screen="markets-industrialandmanufacturing"> <div class="c-nav-page"> <a href="#0" class="c-nav-back js-nav-back">Back</a> <a href="/en/markets/industrial-and-manufacturing" class="c-nav-landing">Industrial and manufacturing</a> </div> <div > <div class="c-nav-item" > <a href="/en/markets/industrial-and-manufacturing/manufacturing" class="c-nav-link">Manufacturing</a> </div> <div class="c-nav-item has-subnav js-nav" data-nav=markets-industrialandmanufacturing-chemical> <a href="/en/markets/industrial-and-manufacturing/chemical" class="c-nav-link">Chemical</a> </div> <div class="c-nav-item" > <a href="/en/markets/industrial-and-manufacturing/mining-and-resources" class="c-nav-link">Mining and resources</a> </div> </div> </div> <div class="c-nav-screen js-nav-screen" data-nav-screen="markets-maritime"> <div class="c-nav-page"> <a href="#0" class="c-nav-back js-nav-back">Back</a> <a href="/en/markets/maritime" class="c-nav-landing">Maritime</a> </div> <div > <div class="c-nav-item" > <a href="/en/markets/maritime/marine" class="c-nav-link">Marine</a> </div> <div class="c-nav-item" > <a href="/en/markets/maritime/ports" class="c-nav-link">Ports</a> </div> </div> </div> </div> <div class="c-nav-flyout-col c-nav-subpages-sublevel js-nav-pages"> <div class="c-nav-screen js-nav-screen" data-nav-screen="markets-automotive-motorcycle"> <div 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href="/en/markets/automotive/motorsports/single-seater" class="c-nav-link">Single seater</a> </div> <div class="c-nav-item"> <a href="/en/markets/automotive/motorsports/heritage-motorsport" class="c-nav-link">Heritage motorsport</a> </div> <div class="c-nav-item"> <a href="/en/markets/automotive/motorsports/formula-e" class="c-nav-link">Formula E</a> </div> </div> <div class="c-nav-screen js-nav-screen" data-nav-screen="markets-industrialandmanufacturing-chemical"> <div class="c-nav-page"> <a href="#0" class="c-nav-back js-nav-back">Back</a> <a href="/en/markets/industrial-and-manufacturing/chemical" class="c-nav-landing">Chemical</a> </div> <div class="c-nav-item"> <a href="/en/markets/industrial-and-manufacturing/chemical/chemical-emergency-response" class="c-nav-link">Chemical emergency response</a> </div> <div class="c-nav-item"> <a href="/en/markets/industrial-and-manufacturing/chemical/chemical-regulatory-and-compliance" class="c-nav-link">Chemical regulatory and compliance</a> 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url(/media/4pfdmlxc/ricardo-ee-aerial-002-2.jpg?width=1920&height=960&format=webp&quality=80&v=1d90956ba9366c0);"> <div class="container"> <div class="row"> <div class="col-lg-10 offset-lg-1"> <h1 class="c-header-title">Our strategy</h1> </div> </div> </div> </section> <div class="umb-block-list"> <section class="c-intro c-intro-background s-spacing" > <div class="container"> <div class="row"> <div class="col-12"> <h2 class="s-sub-title">Delivering sustainable growth</h2> <div class="c-intro-text"> <p>Our strategy is driven by our purpose and underpinned by the global megatrends that help inform how we maximise impact. We are focused on delivering sustainable growth by working together, executing at pace and empowering our teams to be thought leaders in all that they do.</p> </div> </div> </div> </div> </section> <section class="c-text-image s-spacing " > <div class="container"> <div class="row"> <div class="col-lg-6 c-text-image-text"> <h2 class="c-text-image-title">Aligned to key long-term global mega trends </h2> <div> <p>Monitoring the megatrends that are affecting our stakeholders underpins our growth strategy. </p> <p><strong>Environment and sustainability </strong>- The climate continues to drive additional opportunities in areas of evidence, strategy and policy. Clients choose us because we are leading by example- from the solutions we deliver to the actions we take in our own ESG agenda.</p> <p><strong>Energy transition </strong>- Energy transition requires high calibre skills to decarbonise energy systems and assets while increasing resilience. We are uniquely placed to support our clients in developing a pathway from fossil-based energy generation to a low-carbon future.</p> <p><strong>Sustainable and safe mobility </strong>- Zero emission propulsion is driving transformational change in all forms of transport. Our breadth of technological expertise in engineering services around electrification and software is one of our key differentiators in driving real change. </p> </div> </div> <div class="col-lg-6 c-text-image-image c-text-image-image-right"> <img alt="Gettyimages 1314068136" src="/media/2uljgyga/gettyimages-1314068136.jpg?width=960&height=738&format=webp&quality=80&v=1d920fd0eea6f80" loading="lazy" /> </div> </div> </div> </section> <section class="c-text-image s-spacing " > <div class="container"> <div class="row"> <div class="col-lg-6 order-lg-2 c-text-image-text"> <h2 class="c-text-image-title">Creating value through our growth levers</h2> <div> <p>Our strategy is focused on three key priorities:</p> <p><strong>Portfolio prioritisation - </strong>We are optimising our service mix by creating repeatable solutions with increased digitalisation.</p> <p><strong>Market expansion - </strong>At the same time, we are driving competitive advantage by expanding our global scale and reach in our chosen market positions, whilst leveraging our customer relationships and creating deeper customer intimacy to offer solutions that truly meet their needs.</p> <p><strong>M&A acceleration - </strong>Through disciplined M&A we look to accelerate our growth by investing in highly attractive environmentally and digitally led areas, where we can build leading positions in the markets in which we operate. </p> </div> </div> <div class="col-lg-6 order-lg-1 c-text-image-image c-text-image-image-left"> <img alt="Ricardo EE Aerial 006" src="/media/kdidmgxl/ricardo-ee-aerial-006.jpg?width=960&height=738&format=webp&quality=80&v=1d9097b2e85fa60" loading="lazy" /> </div> </div> </div> </section> <section class="c-text s-spacing s-spacing-minimum " > <div class="container"> <div class="row"> <div class="col-md-12"> <div class="c-text-text"> <h2 class="h1">Delivering our strategy </h2> </div> </div> </div> </div> </section> <section class="c-grid s-spacing" > <div class="container gutter-small"> <div class="row"> <div class="col-lg-6 c-grid-tile-large"> <div class="umb-block-list"> <div class="c-grid-tile-signpost"> <div class="c-grid-tile-signpost-title">Enabling meaningful and fulfilling work </div> <div class="c-grid-tile-signpost-text"> <p>By being purpose-led and enabling meaningful and fulfilling work, Ricardo is able to attract and retain the very best talent.</p> </div> </div></div> </div> <div class="col-lg-6"> <div class="row"> <div class="col-md-6 c-grid-tile-small"> <div class="c-grid-tile-signpost"> <div class="c-grid-tile-signpost-title">A trusted partner</div> <div class="c-grid-tile-signpost-text"> <p>By being purpose-led and enabling meaningful and fulfilling work, Ricardo is able to attract and retain the very best talent.</p> </div> </div> </div> <div class="col-md-6 c-grid-tile-small"> <div class="c-grid-tile-signpost"> <div class="c-grid-tile-signpost-title">Achieving high growth</div> <div class="c-grid-tile-signpost-text"> <p>Increasing market-share growth in our chosen markets through effective portfolio prioritisation, innovation and increased digitalisation.</p> </div> </div> </div> <div class="col-md-6 c-grid-tile-small"> <div class="c-grid-tile-signpost"> <div class="c-grid-tile-signpost-title">Excellence in execution</div> <div class="c-grid-tile-signpost-text"> <p>We continue to deliver operational rigour – improving our processes and efficiencies to ensure that our customers’ expectations are consistently met.</p> </div> </div> </div> <div class="col-md-6 c-grid-tile-small"> <div class="c-grid-tile-signpost"> <div class="c-grid-tile-signpost-title">Investing for growth </div> <div class="c-grid-tile-signpost-text"> <p>We actively optimise cash conversion and return on capital employed that enables progressive dividends and further investment for future profitable growth.</p> </div> </div> </div> </div> </div> </div> </div> </section> <section class="c-text s-spacing s-spacing-minimum " > <div class="container"> <div class="row"> <div class="col-md-12"> <div class="c-text-text"> <h2 class="h1" style="text-align: center;">Measuring our progress</h2> <div> <p style="text-align: center;">We monitor our performance through our operational and financial key performance indicators.</p> </div> </div> </div> </div> </div> </section> <section class="c-accordion c-accordion-background c-accordion-content-left s-spacing" > <div class="container"> <div class="row"> <div class="col-lg-6"> <div class="accordion" id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1"> <div class="accordion-item"> <h3 class="accordion-header" id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-header-1"> <button class="accordion-button collapsed" type="button" data-bs-toggle="collapse" data-bs-target="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-collapse-1" aria-expanded="true" aria-controls="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-collapse-1"> Employee retention </button> </h3> <div id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-collapse-1" class="accordion-collapse collapse" aria-labelledby="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-header-1" data-bs-parent="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1"> <div class="accordion-body"> <h6><strong>Voluntary employee turnover% per annum</strong></h6> <h6><strong>2021/22: 16 </strong></h6> <h6><strong>2020/21: 11</strong></h6> </div> </div> </div> <div class="accordion-item"> <h3 class="accordion-header" id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-header-2"> <button class="accordion-button collapsed" type="button" data-bs-toggle="collapse" data-bs-target="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-collapse-2" aria-expanded="true" aria-controls="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-collapse-2"> Customer dependency </button> </h3> <div id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-collapse-2" class="accordion-collapse collapse" aria-labelledby="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-header-2" data-bs-parent="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1"> <div class="accordion-body"> <h6>Number of customers exceeding 5% of revenue</h6> <h6>2021/22: 2</h6> <h6>2020/21: 3</h6> </div> </div> </div> <div class="accordion-item"> <h3 class="accordion-header" id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-header-3"> <button class="accordion-button collapsed" type="button" data-bs-toggle="collapse" data-bs-target="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-collapse-3" aria-expanded="true" aria-controls="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-collapse-3"> Revenue </button> </h3> <div id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-collapse-3" class="accordion-collapse collapse" aria-labelledby="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-header-3" data-bs-parent="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1"> <div class="accordion-body"> <p>Including discontinued operation </p> <p>2021/22: £387m </p> <p>2020/21: £351.8m </p> </div> </div> </div> <div class="accordion-item"> <h3 class="accordion-header" id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-header-4"> <button class="accordion-button collapsed" type="button" data-bs-toggle="collapse" data-bs-target="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-collapse-4" aria-expanded="true" aria-controls="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-collapse-4"> Research and development </button> </h3> <div id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-collapse-4" class="accordion-collapse collapse" aria-labelledby="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1-header-4" data-bs-parent="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-1"> <div class="accordion-body"> <p>Total spend </p> <p>2021/22: £13.3m</p> <p>2020/21: £10.2m </p> </div> </div> </div> </div> </div> <div class="col-lg-6"> <div class="accordion" id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2"> <div class="accordion-item"> <h3 class="accordion-header" id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-header-5"> <button class="accordion-button collapsed" type="button" data-bs-toggle="collapse" data-bs-target="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-collapse-5" aria-expanded="true" aria-controls="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-collapse-5"> Diversified end markets </button> </h3> <div id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-collapse-5" class="accordion-collapse collapse" aria-labelledby="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-header-5" data-bs-parent="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2"> <div class="accordion-body"> <h6>Number of segments exceeding 10% of revenue</h6> <h6>2021/22: 5</h6> <h6>2020/21: 5</h6> </div> </div> </div> <div class="accordion-item"> <h3 class="accordion-header" id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-header-6"> <button class="accordion-button collapsed" type="button" data-bs-toggle="collapse" data-bs-target="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-collapse-6" aria-expanded="true" aria-controls="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-collapse-6"> Environment </button> </h3> <div id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-collapse-6" class="accordion-collapse collapse" aria-labelledby="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-header-6" data-bs-parent="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2"> <div class="accordion-body"> <h6>tCO2e per employee for Scope 1(1) and Scope 2(1) emissions</h6> <h6>2021/22: 2.2</h6> <h6>2020/21: 2.1</h6> </div> </div> </div> <div class="accordion-item"> <h3 class="accordion-header" id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-header-7"> <button class="accordion-button collapsed" type="button" data-bs-toggle="collapse" data-bs-target="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-collapse-7" aria-expanded="true" aria-controls="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-collapse-7"> Underlying operating profit margin </button> </h3> <div id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-collapse-7" class="accordion-collapse collapse" aria-labelledby="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-header-7" data-bs-parent="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2"> <div class="accordion-body"> <p>Including discontinued operation </p> <p>2021/22: 7.8%</p> <p>2020/21: 6.5%</p> </div> </div> </div> <div class="accordion-item"> <h3 class="accordion-header" id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-header-8"> <button class="accordion-button collapsed" type="button" data-bs-toggle="collapse" data-bs-target="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-collapse-8" aria-expanded="true" aria-controls="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-collapse-8"> Net debt </button> </h3> <div id="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-collapse-8" class="accordion-collapse collapse" aria-labelledby="faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2-header-8" data-bs-parent="#faq-acrdn-9119f3e8-aaf6-48ff-ab06-5308f8483f2a-2"> <div class="accordion-body"> <p>Total </p> <p>2021/22: (£35.4m) </p> <p>2020/21: (£46.9m) </p> </div> </div> </div> </div> </div> </div> </div> </section> </div> </main> <footer> <section class="c-footer s-spacing s-spacing-none"> <div class="container"> <div class="row"> <div class="col-md c-footer-first"> <a href="/en"> <img src="/media/bpujp21b/brand-logo-white.svg" alt="Brand Logo White" loading="lazy" /> </a> <a href="mailto:info@ricardo.com">info@ricardo.com</a> <a href="tel:+44 1273 455611">+44 (0)1273 455611</a> </div> <div class="col-md"> <h3 class="c-footer-item-title">Our company</h3> <a href="/en/who-we-are">About us</a> <a href="/en/who-we-are/our-strategy">Strategy</a> <a href="/en/markets">Markets</a> <a href="/en/solutions">Solutions</a> </div> <div class="col-md"> <h3 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