- Record sales and net profit figures
- Significant increase turnover due to high price level combined with strong stock position
- Substantial investments in the international network
ZWIJNDRECHT, Netherlands, April 12, 2023 /PRNewswire/ — The Van Leeuwen Pipe and Tube Group ended 2022 with record sales and net profit figures. The global markets and economy were impacted by the exceptional geopolitical situation, significantly increasing energy prices and inflation. Globally, material prices increased sharply due to supply chain disruptions. Total turnover increased significantly due to a high price level in combination with a strong stock position. The growth in profit provided an opportunity to substantially invest in the company.
The total sales of the Van Leeuwen Pipe and Tube Group amounted to € 1,672 million in 2022 (2021: € 1,431 million). The operating result amounted to € 104 million (2021: € 79 million) and the net result was € 88 million (2021: € 64 million). Solvency improved to 42.9% (2021: 40.7%).
At the beginning of 2022, supply chain disruptions resulted in sharply increasing material prices in Europe. Market demand particularly in the mechanical engineering, civil engineering and hydraulics segments was, however, at a good level. Most European Van Leeuwen distribution companies performed very well. During the second half of 2022, the market cooled down and price levels slightly decreased. The Van Leeuwen branches outside Europe benefited later in the year from the recovery in demand in the energy segment. Branches in North America and Asia booked some nice projects. The company in Australia again performed very well.
The strong profit growth provided an opportunity to significantly invest globally in the modernization and expansion of warehouses and offices, logistics and storage systems and machinery. In addition, as part of its sustainability strategy, Van Leeuwen invested more than 5 million euros in solar panels on its own roofs, including in the Netherlands, Germany and Romania.
The very healthy financial position enables the Van Leeuwen Pipe and Tube Group to maintain the levels of its global stocks, which have doubled in value due to the high prices. The company is well positioned to continue to grow and invest in its business.
Peter Rietberg, Chairman of the Management Board: “In exceptional market conditions, we once again broke records in both turnover and result. We achieved this with our strong stock position and the purchasing power of our global network. Our teams have also worked hard for it, with international cooperation and innovative entrepreneurship. Our profit growth offered an opportunity to further invest in our network, more sustainable business operations, digitization of services and, last but not least, our people. This makes us more competitive in our markets.“
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Van Leeuwen Pipe and Tube Group
The Van Leeuwen Pipe and Tube Group is an international distribution company specializing in steel pipes, and pipe and tube applications. The family-owned company, with its head office in Zwijndrecht, the Netherlands, was founded in 1924 and is active in virtually all industrial sectors. The Group has 70 branches spread across 33 countries throughout Europe, the Middle East, Asia, Australia, and North America. Van Leeuwen’s 2,400 employees have specialist knowledge of sourcing, processing, project management, logistics and stock planning and work closely together with customers in its markets. The combination of global logistics and knowledge of products and customer applications makes Van Leeuwen a leading company in its markets.
SOURCE Van Leeuwen Pipe and Tube Group B.V.