2009 was a difficult year for the building industry. For Strukton it was a year with many faces. Across the board, our revenue was good and we won challenging new infrastructure projects.
Results
Strukton Civiel again turned in excellent results. Strukton Rail and Strukton Worksphere inevitably had to overcome difficulties in their markets but nonetheless performed well in 2009. At Strukton Bouw the result was very disappointing. In addition, a number of provisions had to be formed, which depressed the result of the Strukton group as a whole.
Sound financial position
Nevertheless, our financial position remains sound. We see no signs of recovery for the time being in the construction market and the Dutch rail market. Our operating companies in these sectors are therefore adapting their organisations and personnel so that they will remain competitive in the future.
- Revenue increased by 9.5% to eur 1.4 billion.
- Operating profit came to eur 13.2 million, versus eur 31.7 million in 2008.
- At eur 0.8 million, the profit for the year was also considerably lower than that for 2008. This was attributable mainly to additional provisions and a series of revaluations of land positions and impairments in value.
We formed provisions, for example, for reorganisations, for pension schemes and for completed construction projects that have not yet been settled financially.
After adjustment for these non-operating charges, operating profit was at virtually the same level as in 2008.
Strategy
Strategically, in 2009 we successfully continued on the course we have set. Our strength lies in complicated projects at complex locations and our goal is to be invited by the providers to participate in such engagements. Our company must
therefore have a specific size and the right knowledge set. The focus in the past year was also directed at restoring profitability. Internal synergy was strengthened in 2009 through improved cooperation.
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