Capitalising On Our Strengths
2022 was a great year for CR3. Our team’s dedication enabled us to unlock tremendous growth of 32% in revenue largely through new long-term maintenance contracts, large shutdowns and minor construction projects across India and Thailand. We ended the year with a permanent workforce of 4500 and total workforce of 11,000 as we concluded an impressive array of shutdown projects across Thailand, Singapore, Malaysia and India.
Looking ahead, we have developed our next 5 year business plan which targets growing the company by 300% by 2027, diversifying our services into green energy and engineering and expanding our offshore and minor construction and revamp capability.
We have made great strides towards establishing the cornerstones of our plan, which includes expanding into the Middle East, broadening operations in Vietnam and constructing a green energy servicing business. Additionally, we are building our engineering capability to provide planning and QAQC services for customers and expanding our minor construction/renovation activities across the Group.
We are progressing toward our goal of reducing carbon emissions by 50% before 2030 installing solar power in all owned yards while diesel engines will either be changed out for electric or low emission options and reducing air travel. Finally, rolling out cloud-based financial and operational systems has laid down excellent groundwork for future development opportunities moving forward.
Leading Solutions for Decarbonising and Workplace Safety
As the energy engineering industry undertakes a major evolution to decarbonise and boost safety, CR3 is at the forefront of leading this shift. We are actively supporting many of our customers in decarbonising their businesses whilst building our green energy portfolio.
We specialise in providing automated solutions that can reduce emissions while also creating safer environments for employees by taking workers out of confined spaces, hazardous heights, and industrial cleaning roles. In doing so, we provide our blue-chip customers in India, Thailand, Malaysia and Singapore with cutting-edge services.
Making Strides Together
As we embark on 2023, CR3 Group is determined to meet new business plan objectives while taking steps towards a greener future. Our growth initiatives will expand our operations in the Middle East, India, Malaysia and Vietnam while strengthening services within our existing services and markets.
We will continue strengthening our support for communities with health and education initiatives for children. We also recognise the importance of education and training for our employees and will be focusing on providing opportunities for them to upskill and advance their careers. Our graduate traineeship program is one way we do this, and we will ensure our employees have the support they need to succeed.
I am deeply grateful to all who have played a part in the tremendous success of the year gone by.
Let’s work together to achieve even greater things in 2023!