Solid profit in difficult market conditions
2011 was another eventful year in the construction sector. The year began relatively well, partly because of the favourable weather conditions. But the initial optimism had to be tempered considerably after the summer holidays. The credit crunch and euro crisis slowed things down considerably. VolkerWessels was also affected by these developments but was able to hold its own.
Turnover grew by nearly 13% to € 4.7 billion. Operating profit (EBITDA, € 180 million) and net profit (€ 81 million) were slightly down on 2010 due to write-downs in Building & Property Development and setbacks at Energy & Telecom. The order book has grown by 7% to € 5.5 billion. We have also worked on developing our long-term maintenance and service contracts further. Our turnover in service and maintenance grew to around € 500 million in 2011. These long-term contracts provide additional stability and healthy margins.
Gerard van de Aast, Chairman of the Management Board, says: "Once again, by focusing on the company's growth VolkerWessels has achieved solid profits despite difficult market conditions and a number of setbacks. The positive developments in turnover, the order book and margins in most of our businesses resulted in a healthy, expanding market position."
Please see below for the full press statement: