Thinking where we were in 2020, generating 495€M net revenues, and where we
are after only two years at 660€M, our growth has been tremendous. During 2022, I could see that all
of RINA’s core markets were growing, and, indeed, they are showing great potential for many years to
come.
- Ugo Salerno, Chairman & CEO -
By the end of 2021, we had an established formula for remote working and
completed the refurbishment of our offices to better accommodate our hybrid working practices. We achieved this and showed in 2022 that we
had maintained our productivity.
RINA is growing, and one of the most critical objectives for 2022 was to recruit over 1,000 new colleagues.
This was particularly challenging because of the high percentage of engineers within our business and
the sparkling recruitment market created by Italy’s recovery and resilience plan (PNRR), making
recruitment of the best competencies across all profiles, from new graduates to experienced personnel,
highly competitive.
However, we succeeded by reinforcing and upskilling our recruitment
teams worldwide and specialising people in specific market areas, making them more effective and
fluent in the recruitment process.
The turnover of personnel is lower than the market average, but we are
continuously looking at ways to retain our key talent. Our people experience initiative aims to create the
right motivations and retain people for the long term. Inside our Human Capital Management (HCM) platform,
we have started to implement new processes and set up a performance management system based on our new
leadership model.
In 2022, we planned a new executive training course for leaders to
prepare them to manage fully hybrid teams, which presents very different management challenges.
2023 should be the year when managers are aware of the new role that they should play in the organisation
if they want to make the next step.
We want our leaders to have empathy, be capable of recognising new talent, motivate new people, and
attract a new generation to our business. As the company continues to change with the expectation of
significant transformation over the next three years to reach our strategic business goals, the ability to adapt to change is essential.
Our leadership model contains the skills and competencies we need for the future. These include social
influence, the capability to build a network, curiosity, the ability to create intimacy with clients, the
willingness and courage to propose something new for the company, and the ability to embrace change.
Over the past three years, we have also set up an operational excellence program. As of 2022, this has
resulted in the training of more than 1,500 people in yellow and white belts, 50 green belts, and three
black belts. This program aims to instil the mindset to simplify processes and to train new leaders to
correctly apply new approaches to work.
In the coming year, our people growth process, which started in 2022, will mean
each colleague has a career path based on their willingness to grow
and relocate. It will also include their managerial intentions with input competencies input from their
line managers. This will provide us with a matrix that will identify where critical competencies reside
and succession plans throughout the organisation.
2023 will also be the year where we consolidate the processes put in place in 2022. We will look to
‘engineerize’ HR processes to provide colleagues with the data they need to review the talent within their
teams and make sound business decisions.
For 2023, we have
the same target as 2022: hiring over 1,000 people. We will continue to foster our relationships
with universities, promote our presence on social media, and make RINA an attractive proposition in the
recruitment market. Ultimately, RINA is a thriving business that is more international than ever. We offer
several career path profiles covering vertical and horizontal development and represent an attractive work
environment with flexibility and work-life balance. The challenges within our company are exciting, with
the opportunity to work on large and meaningful projects worldwide,
many of which are changing the world we live in today for the better.
In 2022, the Horizon Europe program was in full flow and around
95% of funding for RINA Research projects came from this. We made more than 200 new proposals to the program
and secured around 50 new projects, showing a significant increase in
our success rate for proposals.
We are delighted with this attainment and are optimistic for the future as Horizon Europe progresses,
and the project budgets continue to grow.
2022 was another excellent year for our Marine business, both in
terms of financial results and the number of new vessels classified. We exceeded our budget with a revenue
of around €170M, showing a ~17% growth from 2021. Such significant growth
shows the brand recognition that RINA now has in the marine sector, which reflects the
understanding of the reliability, trust, and service level we provide.
Of course, sustaining our levels of business requires the right people, and we invested in people, competencies, and our global network. While our
growth rate makes recruitment an ongoing challenge, in 2022, we increased the number of colleagues that
support the marine sector by more than 10% to over 1000 located worldwide.
Countries with
ongoing projects
hours on
Infrastructure
projects
hours of
engineering
hours on Mobility
Projects
contracts worked
during the year
square meters of buildings & urban development design
revs in project management/owner engineering activities
2022 has been another exceptional
year for RINA Prime, where we increased revenue and met all budget targets. We further increased
the size of our business through recruitment and acquisitions, almost doubling the number of colleagues
within this business unit to more than 300.
Through acquisition, we established RINA Prime Property in 2022,
a new subsidiary focused on property and facility management. This has added 70 new colleagues and resulted
in several new multi-year contracts. We are already in a strong position in this market area and will look
to further consolidate and expand our position in the coming years.
man
days
certified
companies
personnel
certificates
PDO, PGI, TSG
products controlled
hectolitres of
wine certified
Rail and metro projects: Italy, China, Denmark, Ireland, Turkey, Republic of Korea, Israel, Portugal, Hungary, Croatia, Colombia, Argentina, Sweden, Thailand, Romania
Although geopolitical influences and soaring energy prices posed challenges, 2022
presented many interesting opportunities for the RINA Industry Business Unit. With the investments we have
made in services and expertise for decarbonisation and digitalisation, we are now recognised as one of the
leading companies in these areas.
We have helped many clients understand and reduce their carbon
footprint and worked on many innovative and ground-breaking projects.
