UK
A British bounce-back
VEO’s UK-based branch I.C. Electrical Ltd. (ICE) made a remarkable recovery in 2021. After a tough 2020, which the company came out of with the support of the rest of the VEO Group, ICE made an all-time high result and saw a massive order intake in 2021. The recipe for their success comes from focus, reduced overheads and a belief in their own potential.
ICE, just like the UK as a whole, was severely hit by the pandemic in 2020, and not all companies survived the turbulence.
“Only the strongest companies are still standing. I’m tremendously proud of the team, which made sure we not only survived, but came out stronger than before”, says Tim McNeilly, MD for ICE who continues: “We believed in our company and the VEO Group did the same. Having that belief is one of the key elements to why we had such enormous growth in 2021.”
Actions to increase efficiency, including cost and risk mitigation as well as increased project control, had already started in 2019 and accelerated in 2020. In 2021, ICE had come to a point where they had not only streamlined their operations, but also crystallised their services, making it easier to package and price their project scopes correctly and for their clients to take decisions. With reduced overheads, and the largest order intake the company has ever seen, both revenues and cash flow increased.
“Our team recognised the fact that we’d had a tough 2020 and they were determined to make 2021 a success. I am amazed by their willingness to go the extra mile to make our company bigger and better.”
VEO countries growing increasingly closer
McNeilly, being ICE’s voice in VEO Group’s Management Team, has seen the relationship between the VEO countries deepen during the last few years. Building trust takes time, but now, sharing and developing best practices together has become the norm. In 2021, the Group analysed and improved its HSQE processes, and here ICE, having long experience in site work, was able to provide valuable input.
“We haven’t seen each other face-to-face for several years, yet the relationship has grown stronger. The tough times showed us what it really means to listen to each other. It takes dedication, but it is worth it, because only then can we really learn from each other. Today, I, and in the long run the whole ICE team, feel like an equal part of Team VEO and that is important.”
A front-row seat towards energy transition
With a slightly different business focus than the rest of the VEO Group, ICE mainly works in the construction and infrastructure market, but also serves clients with their renewable energy projects.
In 2021, ICE was awarded a deal regarding the nearby Drakelow Energy from Waste Plant, which will generate 18MWe of low-carbon electricity when it comes into operation. The plant will be built, owned and operated by the Vital Energi Group. The facility will make a valuable contribution to diverting waste from landfill with the capability of processing 169,000 tonnes of non-recyclable refuse derived fuel (RDF) each year. ICE’s scope includes electrical installations and control panels. The plant will be built near Burton Upon Trent, where ICE is located.
“The very same spot the plant is built on was once home to one of Europe’s largest coal burning power stations. Having this site almost on our doorstep makes the energy transition very concrete and we couldn’t be happier being part of this project which will assist in reducing carbon emissions”, McNeilly states.
Doors wide open for both energy clients and job seekers
A growing number of countries want to increase their energy independency and the UK is no exception.
“We see significant potential for ICE within Energy from Waste and are keen to start offering our services to clients within the energy storage segment, where we are very well positioned to assist.”
In 2021, ICE also saw the highest ever intake of apprentices. To stay on the growth path, ICE needs to continue recruiting new experts. “Four years into our joint journey, the VEO name is better recognised in the UK, which means recruiting is easier. Many job seekers are interested in working for an expanding, international organisation.”
With a record-high order backlog, McNeilly and his team enter 2022 confident they can offer both clients and job seekers interesting deals.
