Van Leeuwen Pipe and Tube Group achieves positive result in 2020
Published by Aimee Knight,
The Van Leeuwen Pipe and Tube Group achieved a positive result in 2020, despite the extraordinary circumstances. The results were affected by the COVID-19 pandemic during the year. The company benefited however from the scale it gained with Benteler Distribution, which was acquired at the end of 2019. This doubled the size of the company. The market recovered somewhat at the end of 2020.
Van Leeuwen's total sales amounted to €1.178 million (2019: €787 million), the operating result was €15 million (2019: €17 million) and the net result amounted to €9.4 million (2019: €10.1 million). Solvency has improved significantly from 30.8% in 2019 to 36.8% in 2020.
In 2020, Van Leeuwen took important steps in the integration of Benteler Distribution. The acquisition has further expanded its global presence, especially in Germany, Switzerland, Scandinavia and Central Europe. Where possible, the acquired companies were merged with Van Leeuwen companies and presently they all operate under the Van Leeuwen flag.
During the first half of 2020, the activity level in the energy segment was high. From the second quarter, demand decreased in almost all markets due to the pandemic and lockdown measures, especially in the manufacturing industry and the energy segment. Van Leeuwen took various measures such as cost reductions, reorganisations and a reduction of stock levels.
At the end of the third quarter, customers in various market segments restarted production and volumes reached a higher level. Some market recovery was already visible at the end of 2020. The outlook for 2021 is positive. There is an upward trend in price levels and market activities are picking up again. Van Leeuwen's European distribution companies in particular are having an excellent start.
Peter Rietberg, Chairman of the Management Board: "Van Leeuwen is a family business that is proud of its almost one-hundred-year history. In the exceptional year 2020, we proved to be capable of quickly and effectively adjusting ourselves to new circumstances where necessary, as we have often done in our history.
From that perspective we are looking forward to the future with a great deal of confidence. We rely on our scale and international presence, strong distribution network and wide product range, but above all on our global team of committed employees."
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Read the article online at: https://www.worldpipelines.com/business-news/16042021/van-leeuwen-pipe-and-tube-group-achieves-positive-result-in-2020/
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