Corporate Sustainability

It is the role of the Management Board to manage the corporate responsibility issues that are relevant to the Company. As such the Company focuses on several subjects and the corporate responsibility aspects thereof. This chapter provides an overview of the important subjects in light of the corporate social responsibilities. As a whole, the Company is committed to achieve a correct balance between growing as a company and our corporate responsibility.

This year's focus is our employees. TIE Kinetix’s management considers its employees the driving force behind the ultimate success of the Company, due to its expertise and know-how. TIE Kinetix also believes that human resources and treatment of the staff are major aspects of corporate responsibility. TIE Kinetix emphasizes that personal growth of the staff is of great value to the Company. This can be obtained through setting challenging targets, guidance by the management and education. The personal growth of the staff members is closely monitored and recurring evaluations and assessment meetings take place.

In our Annual Report, we have elaborated more extensively on our efforts and initiatives in view of Corporate Sustainability, with respect to:
 
- Our Employees
- Employee Share Plan
- Compliance with Laws and Regulations
- Communication and Engagement with our Shareholders
- Our Social Initiatives
- Our Carbon Footprint
- Our Solutions

 

Our Office in Breukelen, The Netherlands

In financial year 2013 TIE Kinetix merged all three Dutch offices into one new headquarters located in Breukelen. By bringing all employees together from multiple offices, all Dutch employees work more closely together, save on travelling between offices and truly became one ‘totally integrated’ team.

The office has a parking lot which is fully lit by LED-lights and is equipped with moving sensors for lighting the office. The office also accommodates charging of electric cars.

External Auditor

The Auditor's report by BDO Audit & Assurance B.V. can be found below.

To: the General Meeting of Shareholders of TIE Kinetix N.V.

Report on the financial statements

We have audited the accompanying financial statements 2014 of TIE Kinetix N.V., Breukelen as set out on pages 68 to 128. The financial statements include the consolidated financial statements and the company financial statements. The consolidated financial statements comprise the consolidated statement of financial position as at September 30, 2014, the consolidated statements of comprehensive income, changes in equity and cash flows for the year then ended, and notes, comprising a summary of the significant accounting policies and other explanatory information. The company financial statements comprise the company balance sheet as at September 30, 2014, the company profit and loss account for the year then ended and the notes, comprising a summary of the accounting policies and other explanatory information.

Management’s responsibility

Management is responsible for the preparation and fair presentation of these financial statements in accordance with International Financial Reporting Standards as adopted by the European Union and with Part 9 of Book 2 of the Dutch Civil Code, and for the preparation of the Report from the Management Board in accordance with Part 9 of Book 2 of the Dutch Civil Code. Furthermore management is responsible for such internal control as it determines is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Dutch law, including the Dutch Standards on Auditing. This requires that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion with respect to the consolidated financial statements
In our opinion, the consolidated financial statements give a true and fair view of the financial position of TIE Kinetix N.V. as at September 30, 2014 and of its result and its cash flows for the year then ended in accordance with International Financial Reporting Standards as adopted by the European Union and with Part 9 of Book 2 of the Dutch Civil Code.

Opinion with respect to the company financial statements
In our opinion, the company financial statements give a true and fair view of the financial position of TIE Kinetix N.V. as at September 30, 2014 and of its result for the year then ended in accordance with Part 9 of Book 2 of the Dutch Civil Code.

Report on other Legal and Regulatory Requirements

Pursuant to the legal requirement under Section 2:393 sub 5 at e and f of the Dutch Civil Code, we have no deficiencies to report as a result of our examination whether the management board report, to the extent we can assess, has been prepared in accordance with Part 9 of Book 2 of this Code, and whether the information as required under Section 2:392 sub 1 at b-h has been annexed. Further we report that the management board report, to the extent we can assess, is consistent with the financial statements as required by Section 2:391 sub 4 of the Dutch Civil Code.

Amstelveen, January 26, 2015

For and on behalf of BDO Audit & Assurance B.V.

Sgd.
J.A. de Rooij RA

Disclosure of Information

In accordance with the Dutch Act of Financial Supervision, TIE Kinetix will ensure that any price-sensitive information – information that is concrete and has not publicly been disclosed and whose disclosure might significantly affect TIE Kinetix’s share price - will be disclosed without delay to the general public in the form of a press release. The press release will be disseminated over one or more major wire services, at least one national daily newspaper, and publication on TIE Kinetix's website.

The Executive Board or Compliance Officer of TIE Kinetix will announce in good time at the beginning of each financial calendar year, which periods in that financial year are deemed to be Closed Periods. Any changes and supplementary periods will be announced in the same manner in the course of the financial year.

Articles of Association

The Articles of Association of TIE Kinetix N.V. were last amended by resolution of the General Meeting of Shareholders on March 27, 2015. The notarial deed was executed on June 3, 2015.

The Company is registered at the Trade Register of the Chamber of Commerce of Amsterdam under file number 34072305

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