Economic Dimension

Balance sheet

In recent years, GRI Renewable Industries has made an extraordinary investment effort totalling close to 500 million euros since its creation.

The consolidation of the plants started up in recent years and the beginning of operations in other new plants are foreseen within the fiscal year 2020.

• Economic Value Generated (EVG) with a total of 644,934 thousand euros.
• Economic Value Distributed (EVD) amounting to a total of 622,917 thousand euros.
• Economic Value Retained (EVR) with a total of 22,017 thousand euros.
• The Net worth of the company is 326,595 thousand euros

Main effects, risks and opportunities

At GRI Renewable Industries we work to mitigate and reduce all possible risks through mechanisms integrated in the organization, as is outlined next:

• Risk management: new projects
• Risks on financial information
• Risks: confidentiality and privacy
• Operational risks
• Reputational, ethical and human right risks
• Environmental and climate change risks
• Risks related to health and safety

Customers and innovation

We understand innovation as a factor of change and adaptation to the new requirements of customers and markets, generating added value to the business and minimizing its environmental impact. Therefore, innovation is one of the strategic pillars of GRI Renewable Industries, contributing to its profitable and sustainable growth.

This commitment is embodied in the R+D+i team, with an increasing number of qualified professionals, and in the constant search for opportunities and improvement projects, which allow us to anticipate the market, offering differential and more efficient products, in line with new technological trends.

Also significant was the start-up of the “R&D Center” in Turkey, integrated into the GRI Tower Turkey facilities and the launch of the “Elcano University Innovation and Training Center” project in the Port of Seville.

Customers: product innovation

The success of GRI Renewable Industries is based on its capacity to identify and meet its customer needs. As the only supplier with the capacity to design and manufacture new prototypes of towers and flanges, innovation plays an essential part.

Innovation in processes

At GRI Renewable Industries we believe that technological investments and continuous improvement through innovation are part of our culture and bring us significant benefits, including quality as excellence, worker safety and better control of results (data collection, analysis and management).

The initiatives undertaken fall into two different categories: on the one hand, improvements in production processes and, on the other, digitalisation and Industry 4.0 projects.

Cultural change & Digital WorkPlace 2019-2021

“Digital WorkPlace” project began in 2019 aiming to embrace Microsoft technology and provide employees with the Office 365 tools to continue advancing in the company’s digital transformation.

It is a process that demands an important management of the cultural change of the whole company, in a collaborative environment that allows to approach successfully this challenge of incorporating the new digital technologies, but another piece of an ambitious project throughout the company in these 3 areas:
• Digital Competences: increase digital competences, knowledge and skills to adapt to a constantly changing market and environment.
• Digital Workplace: define how new technologies may improve the way of working in all aspects.
• Digital Experience: boost digital agility in all work aspects.

Supply chain

GRI Renewable Industries´ suppliers are an indispensable asset within the value chain, for their importance in project planning and in the project’s cost competitiveness.

The following areas are integrated in the ¨Supply Chain¨ corporate division: Procurement, Purchases (direct and indirect), Supplier Quality and Logistics.

A total of 232 suppliers were registered of which: 51 are classified as fully reliable, 45 are considered of minimal risk and 61 as medium risk. The remaining suppliers are in the process of completing registration. The continuous improvement in the qualification of suppliers to achieve the maximum score is a milestone that the SQA area is pursuing day after day.

In addition to the evaluation, 15 ¨in-situ¨ audits, both for products and processes, were conducted by the purchase teams from the Plants and Corporate.

The total expenditure in providers in 2019 reached 594,464,938 euros, of which 74% corresponds to local agents.

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