This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
April 24, 2013 /PRNewswire/ --
. Good results despite difficult market conditions
. European acquisitions contribute to profitability
. Strong solvency
The Van Leeuwen Pipe and Tube Groupachieved an increase in sales and kept the operating result at the same level despite difficult market conditions. This was largely achieved due to the worldwide spread across markets, product and customer groups. The market share in existing markets grew and market share was further expanded with new products.
The operating result came out at € 13.2 million, the same as it was in 2011. The net result amounted to € 10.1 million (2011: € 12.9 million). Net sales increased by 8% to € 658 million and the tonnage sold increased by 11% worldwide. Solvency remained strong at 44.5%.
The strategy of the international trading and distribution company of steel pipes and pipe products, is focused on expanding specialisms combined with a further global spread. The Teuling Staal and Jean Wauters Aciers Spéciaux companies, acquired in 2011 and specialized in (super) duplex and bar steel respectively, made a solid contribution to the result. The international network was further expanded, for instance, by the opening of a sales office in
Moscow. The offices in
Vietnam were strengthened.
The company focuses on both the industrial and energy markets. The European industrial market experienced a strong decline in demand.
Van Leeuwen maintained volumes in this market by expanding its range of services. The level of investment in the worldwide energy market slowed down. However,
Van Leeuwen profited from the growth in the offshore and subsea projects market. The branches in
Australia made a significant contribution to the operating result in 2012.
Van Leeuwen will continue to focus on growth by means of acquisitions, in addition to organic growth. Chairman of the Board of Directors
Peter Rietberg says: "
In spite of the uncertain market conditions, we remain positive about 2013. The company is financially strong. This gives us the power to act and the possibility of investing in growth and expansion."
Van Leeuwen Pipe and Tube Group