just answer those two questions from the NRMA 2020 annual report
Making history Annual report 2020 NRMA annual report 2020 1 Contents 2 About this report 3 About us 4 Our culture and values 5 Making history 6 Responding to COVID-19, bushfires and floods 8 100 years and onwards 10 A message from our Chair 11 A message from our Group CEO 12 The year that was 13 Giving back 49 Board of Directors 50 Role of the Board 53 Our Board’s focus areas 54 Our Committees’ focus areas 56 Our Board’s profiles 59 Board meetings 60 Remuneration 62 Executive Leadership Team 64 Directors’ report 65 Auditor's declaration 15 History in the making 16 How we create value 18 Our business value drivers 20 Our strategic priorities 68 Consolidated statement of profit or loss and comprehensive income 69 Consolidated statement of financial position 70 Consolidated statement of changes in equity 71 Consolidated statement of cash flows for the year 72 Contents 73 About this financial report 116 Directors’ declaration 117 Independent auditor’s report 23 People and culture 26 Members and customers 28 Operations and assets 36 Reputation 40 Environment and sustainability 42 Financial capital 45 Our approach to risk management Introduction Section 4 Section 5 Section 1 Section 2 Section 3 Governance and remuneration Risk management Financial report Business value drivers and performance An overview of the NRMA. Highlights and insights from our Chair and Group CEO on the year and future outlook. Creating valueWho we are How our business value drivers realise our business strategy and performance. How we create value, our strategy, strategic priorities and business value drivers. An overview of how we identify, manage and mitigate risks within our business. The composition and role of the Board and Committees, their key focus areas, and approach to remuneration. A summary of our financial performance and cash flow. The Directors’ declaration and independent auditor’s report. The flying car designed by Brisbane artist, Stephen Mok appeared as a large installation at our Bright Futures tour. Encompassing the old and the new, its purpose was to show our Members and the community that we'll be there alongside them, wherever the future of motoring takes us. From horse and cart to the automobile, electric vehicles and beyond. Bright Futures event images courtesy of Good Thanks Media 2020 annual report of National Roads and Motorists’ Association Limited ABN 77 000 010 506. National Roads and Motorists’ Association Limited (NRMA) is a public company limited by guarantee, incorporated and domiciled in Australia. The registered office and principal place of business is Level 13, 151 Clarence St, Sydney NSW 2000, Australia. WHALE WATCHING SYDNEY NRMA annual report 2020NRMA annual report 2020 32 About this report The NRMA is Australia's largest member-owned organisation, with over 2.6 million Members across NSW and the ACT. Our common purpose has always been to keep people moving. Over time, our focus has evolved to encompass the journey and destination through tourism and leisure. This report has been prepared with reference to the International Integrated Reporting Council's (IIRC) framework. It identifies material issues in our operating environment and among our key stakeholders that influence the value we create for our Members and customers. The decisions and activities of our leadership team are underpinned by these issues and how they impact our business value drivers. This year, we've incorporated an additional business value driver, environment and sustainability which will enable the NRMA to better communicate our performance on the development of sustainable business practices. These value drivers underpin how we create value and are outlined in further detail throughout this report. Financial capital The funds and assets available to the NRMA. Operations and assets Our operations and physical assets including buildings, vehicles, vessels and equipment we use to deliver great products and services. Environment and sustainability Our focus on preserving our natural environment and developing sustainable business practices. Members and customers Our commitment to putting our Members and customers first, our trusted brand and specialist knowledge. Reputation Our independent voice, focus on education, partnerships, networks and the communities we reach, and the natural environment in which we operate. People and culture Our great people, culture and diversity. Business value drivers United Nations Sustainable Development Goals We support the United Nations’ Sustainable Development Goals (SDGs), which are a set of global principles that address world issues including climate change, poverty and inequality. The NRMA seeks to embed the SDGs across our business activities to ensure the sustainability of our organisation and the communities we support. We’ve identified six key SDGs as they relate to our strategy, operations and value we deliver to our Members. This report seeks to highlight how the SDGs have been applied across our organisation and their relevance to our activities. Our Global Reporting Initiative (GRI) Content Index and sustainability disclosures can be found at mynrma.com.au/sustainability Goal 11: Make cities and human settlements inclusive, safe, resilient and sustainable. Goal 10: Reduce inequality and promote social and economic inclusion. Goal 13: Take urgent action to combat climate change and its impacts. Goal 3: Ensure healthy lives and promote wellbeing for all at all ages. Goal 5: Achieve gender equality and empower all women and girls. Goal 8: Promote inclusive and sustainable economic growth and employment. The SDG's we contribute to About us Our activities and the services we offer Investments Transport and tourism Motoring and Membership The NRMA delivers benefits to more than 2.6 million Members through roadside assistance, NRMA Blue, advocacy, driver training, our electric vehicle fast charging network, the Open Road magazine and community and education programs. NRMA Parks and Resorts increased the number of accommodation and associated services we provide nationally to 50 owned or managed parks across Australia. Marine delivers passenger transit and leisure services under the brands My Fast Ferry, Fantasea Cruising, Whale Watching Sydney and Yellow Water Taxis. We provide vehicle rental services across more than 190 locations in Australia, New Zealand and Fiji under the Thrifty and Dollar brands. We invest in accommodation infrastructure, including the historic Hotel Kurrajong in Canberra, Travelodge and Elanor which invests in regional hotels. Over the past 100 years, we've kept you moving and safe along your journey. And we'll continue to find new ways to do just that as we look to the future. As one of Australia's largest tourism, leisure and travel businesses, we lead the way in mobility services and roadside assistance, while providing opportunities for Members to connect through leisure experiences. And as our businesses continue to grow and change, our shared passion for helping and inspiring people through tourism and travel is the thread that will always tie us together. We put our people, Members and customers at the centre of everything we do, to deliver great experiences – which has always been what sets us apart – now and into the future. NRMA annual report 20204 5NRMA annual report 2020 For 100 years now, the NRMA has been instrumental in shaping the way Australia moves. As the country’s largest Member organisation, we’re committed to serving our Members and their communities. We exist to connect people with each other, with places, with experiences, with our land, and most importantly to keep everyone safe along the way. We've always been there to help, and in times of crisis and hardship, we've stepped up a gear to provide even more assistance. We now find ourselves in such a time. With a prolonged drought, devastating bushfires that burnt over 18 million hectares across the country, and the emergence of the COVID-19 pandemic impacting employment – the effects of these crises will be long lasting. We felt the impact in almost every part of our businesses, from Country Service Centres and holiday parks in fire-stricken towns to a reduction in our marine services during the lockdown. However, true to our DNA, we’re changing the way we work so that we can help keep our community moving forward in every way possible. Our centenary has given us the opportunity to reflect on our journey. Though, with the new challenges that face us all, this has not only been for the purpose of celebration, but also to draw inspiration for the actions we’re taking now and those we’re planning for the future. In everything we do, we aim to give back, always adding more value to Membership and allowing our past to inform the bright future we’re building – so that together, we can continue to make history. Our culture and values How our culture Playbook creates value Our culture and code of conduct During the year the Board focused on the culture of the NRMA through monitoring culture survey results. The Board also approved the revised code of conduct for employees and was updated by the Group CEO on its roll-out. We walk in your shoes We know your time is precious We always think one step ahead We will keep you safe along the way We will carry you when you need help What we do - Listen to Members and customers through regular engagement and surveys. - 'Close the loop’ program to inform Members of the solution identified to fix their problem. - 'Walk in your shoes’ program encouraging cross functional experience and information sharing among operating businesses. - Cross functional teams to trouble shoot and solve Member and customer pain points. - 'Moments that Matter’ program to identify solutions, resources and opportunities to reduce response times and delays. - Provide staff with the authority to execute changes identified as making a material difference to their customers. - Engage thought leaders and partners to inform business thinking on emerging trends and ideas in mobility, leisure and tourism. - Execute an investment