3stepIT Sustainability Report 2019 - Page 25



Economic
responsibility
Our commitment to
environmental responsibility
isn’t just the right thing to do,
it’s a significant part of our
value proposition of increasing
importance to customers. Some
clients scrutinise our sustainability
credentials before considering our
offer, while others attribute value
to it in their bid evaluation process.
We’ve transformed our business to ensure everything we do is
focused on our purpose: ‘To take care of the world’s technology’
and thereby help our customers become more sustainable.
To deliver the best service to the businesses we work with,
we must be sustainable ourselves - economically as well as
environmentally. That means having resilience, relevance and a
strong plan for growth.
Revenue
(M€)
680
EBITDA
(M€)
681.8
660
34.7
30
We are realistic, open and honest about progress in pursuit of
our strategic goals. We take great care to account fairly and
accurately and our accounts are independently audited and
approved by the Board for publication.
With our Code of Conduct, we hold ourselves to the highest
ethical principles, clamping down on conflicts of interest. Our
commercial standards include an anti-money laundering (AML)
policy strengthened in 2019, with a new e-training module on
AML essentials made mandatory for all our people.
We are proud to have delivered steady growth for 22 years and in
2019, we delivered record revenues.
Our core business measurement is devices financed, which grew
by 5.6% this year to 838,028. Production (the refurbishment and
resale of devices) grew 5% with 500,912 devices processed. We
sold 98% of returned devices - an industry-leading rate.
Our revenue grew 0.9% to 681.8M euro, up from 675.8M euro in
2018. EBITDA were 34.7M euro, an increase of 8.2% on last year,
benefitting from our BNP Paribas 3 Step IT joint venture which
began trading on 1 October 2019.
Our business strategy is designed to maintain and encourage
sustainable growth. We will continue to focus on developing
innovative service models that respond to customer needs and
the demand for more responsible IT procurement. We will also
make the most of these service improvements in our new joint
venture, BNP Paribas 3 Step IT, as it opens branches and builds
business across Europe.
Our economic impact
Economic value generated and distributed
In 2019, we generated 698M euro in economic
value, with a distributed value of 701M euro*
across all our activities.
2018
2019
677.4
698.5
Operating costs
- 622.1
- 641.2
Employee wages & benefits
- 30.0
-30.3
Payments to the providers of funds
- 16.5
-23.5
Payments to the government
- 7.0
-6.2
Economic value distributed
675.6
701.3
1.8
- 2.8
Economic value generated, euro, million
Economic value retained
650
640
2019
*Reference to GRI 201-1 Direct economic value generated and distributed (GRI 201:
Economic performance 2016)
2018
2019
20
2018
630
When we develop our business strategies and investment plans,
our goal is to create long-term value that grows over time.
EBITDA performance included costs arising from investment
in internal IT systems and digital service development. These
investments will improve service delivery in 2020.
35
670
A sustainable business model
10
24
25

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