Movares financial results, 2020: positive trend continues

Utrecht, 6 April 2021 – Despite the world-wide COVID pandemic, Movares Group’s operating result rose from € 2.9 million to € 3.6 million in 2020. This continues the trend established in 2019.

CEO Sander Eijgenraam: “2020 was a special year for everyone. For the world, for the Netherlands and therefore also for Movares. We’ve been working mainly from home since March last year, and we’ve had to work differently. I’ve noticed a great deal of creativity. That meant we could continue to work with our customers to carry out their projects”

Finance

Our turnover rose significantly (by 5% to 10%) during 2020, both in the rail sector and for the Schiphol account. Turnover was somewhat disappointing in other market sectors, including waterways, local authorities and private industry. CFO Erik van Schie: “The reduction in turnover appears to be linked to the COVID crisis. Our customers in these markets are feeling its effects and are contracting out less work as a result.” While total turnover fell slightly in 2020 (by 2.5%), added value remained stable and return on turnover rose by 0.7%.

 

 

The benefits of working together

The increase in Movares’ operating result is partly a consequence of our having acquired BRO, a company with some 75 staff. BRO provides advisory services in the areas of town and country planning, urban construction, landscape and economy. Eijgenraam: “Acquiring BRO is very good news for our company. The takeover fits perfectly with our ambition to work with our partners and customers to make the Netherlands livable, accessible and sustainable. It also matches our plans for strategic development regarding activities related to the early planning phase.”

The future

Van Schie: “The tasks facing the Netherlands are considerable. How can we maintain access to and within cities, how can we keep infrastructure safe, and how are we to manage energy transition? Our order books were already full at the beginning of 2021, and fortunately that is still the case. While we hope that we’ll soon be able to see each other in person again, remote working is going to remain part of our lives.”