Cedefop is one of the oldest European Union (EU's) decentralised agencies. Founded in 1975 and based in Greece since 1995, Cedefop supports development of European VET policies and contributes to their implementation. The Agency is helping the European Commission, EU Member States and the social partners to develop and implement the right European VET policies. In line with the vision and values set for the Agency, for 2017-20, three strategic areas of operation have been defined: (1) shaping VET: foster the renewal and modernisation of VET systems and institutions in response to rapidly changing policy needs and priorities; support the development and use of European tools and principles promoting lifelong and life-wide learning; (2) valuing VET: support the development and implementation of VET policies and programmes helping all citizens to achieve competences and skills required for work, employability, entrepreneurship, and lifelong learning in a constantly changing labour market; and (3) informing VET: inform the design of VET and employment policies that ensure the availability of a qualified workforce and its continuous, as well as effective, skilling; promote jobs that value, develop and make the best possible use of people's skills throughout their working lives. Cedefop's multiannual objectives--providing evidence and new knowledge; monitoring and analysing policies; acting as a knowledge broker for countries and stakeholders--reflect the core functions of the Agency. Combined with the thematic strategic areas of operation, they define the type and scope of the work the Agency delivers. The multiannual objectives steer the activities of Cedefop's annual work programmes and ensure continuity of its work, allowing the necessary flexibility to respond to changing needs. Following a foreword by Director, Joachim James Calleja, this report provides the following: (1) 2017 At a Glance; (2) Results Achieved; (3) Relations with EU Agencies; (4) Management, Resources, and Internal Controls; and (5) Annexes.