2022 was a challenging year for Movares Group, partly because of the COVID epidemic and the war in Ukraine. These external events were major factors underlying the drop in operating result compared with 2021. With a turnover of € 111 million and a net profit of € 1.5 million, the engineering consultancy was not able to maintain the positive trend of recent years. Operating result
Movares Group’s operating result fell from € 7.3 million in 2021 to € 3 million in 2022. Movares Nederland – the largest company within Movares Group – contributed to this drop the most, with a figure of € 3.7 million. While results for Movares Nederland did improve in the second half of 2022, this was not sufficient to compensate for the first half of the year. The other entities within Movares Group (BRO and Solveo) performed in line with 2021.
CFO Erik van Schie: “Instability in Europe as a result of the war in Ukraine led to higher prices for energy and materials. The nitrogen problem in the Netherlands also continued to have a major influence on infrastructure work. These factors affected both projects that had already started and the marketing of new contracts. As a result, a number of major projects on which Movares was working were halted or postponed.”