Shaping the future - a review of performance for 2021

Outlook With economies across the world still very much in recovery mode and many customers adjusting to COVID-19-related impacts, future investment is likely to remain cautious across the sector. We do, however, expect to still see opportunities in a number of the maritime sub-sectors that we operate in. Offshore renewables is a fast growing market with significant requirement for new assets, infrastructure and through-life support. We are also seeing an increased focus on compliance, managing environmental impacts and the need for green technology. Decarbonisation is driving the need to update, upgrade and replace assets across the whole maritime sector. The shift towards data, digital and autonomy across the maritime sector, both at sea and onshore, can play to our strengths in these key areas. Similarly, as assets become more complex and business decisions become increasingly dependent on complex and technical evaluation, our services are well positioned to meet demand. To take advantage of the opportunities that lie ahead, we will need to continue to both attract and retain the talent required to significantly grow revenue at a time of fierce competition for a limited resource pool. Team Resolute, a UK consortium consisting of Navantia, Harland & Wolff and BMT, were awarded the Competitive Procurement Phase (CPP) design contract by the UK Ministry of Defence. Team Resolute will be developing its proposal to build three support ships for the Royal Navy. We delivered our first BMT REMBRANDT DNV Class A, B and C Full Mission Bridge Simulator at a Maritime Academy in Sabah, Indonesia, following a successful roll out of the technology to numerous academies across the country. 27