Driving genuine transformation in our business and industry

The vision and values of any company provide a compass for decision-making. Following the investment of considerable time in consultation with our people, our customers and our investors, V.Group is excited to share its ambition and the approach it will take to achieving it.

The marine industry is facing seismic change; sustained challenging economic conditions, increasing regulatory pressure, growing competition and commoditisation, crewing shortages, and rapid and disruptive developments in technology, connectivity and digitalisationcreate a need and an opportunity for a radical transformation. V.Group’s ambition is to play a pivotal role in shaping that transformation and, by doing so, to become the leading global provider of marine support services. The companyhas a clear plan of what it wants to do and how itwill make it happen - centredonthe following six strategic pillars:

• Enhancing the operating model - to provide safe, high quality and regulatory compliant services to customers on a global basis, 24 hours of every day
• Investing in talent - to ensure V.Group has the best people in the industry both onshore and at sea
• Innovating - to use data-driven insights and technology to drive better outcomes for customers
• Driving organic growth–to grow by offering unparalleled service and great technical capability to maritime asset owners and operators
• Delivering inorganic growth - to acquire other businesses which can enhance the service offeringto customers
• Maintaining financial discipline - to run the business to the highest standards, managing risks prudently whilst continuing to invest in services.

For some time V.Group has been far more than a Ship Manager andmoving forward, the business will be organised around six service lines: Technical Management, Technical Services, Crew Management, Crew Services, Supply Chain and Insurance. Each service line will aim to offer industry-leading value for money and one of V.Group’s unique strengths is its ability to combine those services in packages which provide tailored solutions for customers.

To deliver the necessary changes, V.Group is investing in a multi-million dollar transformation programme to upgrade its systems and better connect theorganisation, enabling the use of data to drive insights and optimise the performance of customers’ assets. One of the the largest single areas of investment is in the company’s crewing operation because access to qualified crew is one of the primary concerns for the majority of vessel owners and operators.

“We are not a ship owner, manufacturer or a ship builder, we are a service provider”, explains Ian El-Mokadem, CEO, V.Group.“Our strength lies in our talented global team with exceptional industry knowledge and decades of experience. We aim to help vessel owners and operators of maritime assets to get better returns from their assets than they would be able to without our support.”

V.Groupbelieves that the ‘fleet cell’ model the industry has operated for decades can be improved. Working in partnership with customers, colleagues and other industry partners, state of the art innovation centresare being established to drive further technology-led improvements. The intention is to pioneer a new way of working, which uses data, technology and people with different specialist skills to provide a consistent global service 24 hours of every day.

“We work as one global team, embracing the different cultures thatwe represent as individuals”, says El-Mokadem.“We set high standards for ourselvesand always work in an ethical and transparent way. We aim to be easy to do business with. Wherever customers, crew or suppliers deal with us, they should experience a consistently high level of service which is underpinned by our shared values.”

AndV.Group recognises that values are critical to realising its ambition.In conjunction with the development of its new strategy,V.Grouphas also committed itself to a new set of values;the DNA of the business which will guide all decision-making. Agreement of the new values has been a genuinely collaborative process involving not just the executive team butonshore and seafaring colleagues, across the globe at every level. V.Groupis committed to bringing these values to life right across the

organisation to create a distinctive culture that truly delivers. The five values, known as “the five Cs” are we care, we collaborate, we challenge, we are consistent and we commit and deliver.

“With a clear direction and collective understanding as to how we are going to achieve our goals, V.Group aims to drive not only the transformation of our own business, but the transformation of our industry; and we genuinely believe that we have the opportunity, the people, and ability to do that”, concludes El-Mokadem.