ANNUAL REVIEW Foreword 2021 Dear Partner, Looking back, it has been another turbulent year in which the pandemic continued to impact both our shared business and our personal lives. Ongoing uncertainties caused us to miss our revenue target, finishing the year at €309 million. However, we were happy to see revenue growth with almost all our customers. Our bottom line was also lower than expected due to strategic investments and a one-off setback. The strain caused by the pandemic took its toll on our energy and connections – factors that run deep at Royal Lemkes. These are challenging times, yet there is plenty to be proud of and grateful for. In assessing our performance, our stated mission is still the most important baseline. We therefore evaluate the year in terms of the sustainable growth of our people, our relationships, our business and the world we operate in. Last year was marked by happy customers, stronger connections with our suppliers and the many successful initiatives that drove sustainability forward. Our colleagues also achieved great personal growth. All results to be proud of. We are equally proud of our dream for 2030, in which we aim to sell twice as many plants as in 2020, with each plant contributing to a healthier planet and a better life for all. We call this ‘positive plants’. Looking ahead, together with our stakeholders, we hope to make this inspiring dream a reality. Things got off to a great start in 2021 with the founding of Plantify Partners Europe and the associated strategic partnership forged with the Belgian family business Floréac. Although we maintain our unique identities, our businesses certainly learn a lot from each other. It is with great joy that we look forward to a collaborative expansion of our European network. We also took great strides in innovation, kicking off the implementation of our novel ERP system and expanding robotisation. The pandemic continued to have an effect in early 2022. Even more horrifying has been the situation in Ukraine, 6
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