2008 as a whole was a reasonable year for Strukton.
- Revenue amounted to EUR 1.25 billion, an increase of 9% in comparison with 2007, when revenue came to EUR 1.15 billion.
- The operating profit for the year increased by more than 20% to EUR 31.7 million (2007: EUR 26.1 million).
- The profit for the year was fractionally lower, down EUR 1 million to EUR 14.3 million (2007: 15.3 million), as a result of higher financial expenses, adverse currency movements and a higher tax burden.
We again reported growth in a number of markets and retained our market share in others. We continued to implement our strategy of taking an
integrated approach to projects and generating synergy in order to extend and widen our position in the construction industry and win more long-term contracts. In the market for projects executed by public private partnerships (ppp), we further strengthened our leading position by winning three ppp projects
during the year and, despite the worldwide financial crisis, bringing them to financial close.
Operating company headlines
At Strukton Rail, a sharp fall in volume on the domestic market in the Netherlands placed strong pressure on capacity utilisation rates and margins. This could not be offset in full by results outside the Netherlands. Despite the lower volume of activities, market share in the Netherlands was retained.
At Strukton Civiel, the strategy of increasing the scale of operations and specialisation clearly bore fruit with a sharp increase in revenue and results. All business units performed well and several complex projects in the Netherlands were completed with a good result. Construction of the deepest and longest immersed tunnel in the world, in South Korea, got off to a good start and the order book for 2009 is well filled.
At Strukton Bouw & Vastgoed, results were disappointing. This was due to a number of loss-making projects and lower growth in the second half of the year owing to delays on a large number of engagements. As a result, overhead costs could not be covered. The order book is now well filled.
Strukton Worksphere can look back on an excellent year, thanks in part to the targeted pursuit of productivity in combination with a consistent and clear philosophy and strategy.
Strukton Integrale Projecten not only won three ppp projects in 2008 and brought them to financial close but also enjoyed a lot of welcome publicity and raised the profile of our own initiatives.