Report on 2020

The Van Leeuwen Pipe and Tube Group achieved a positive result in 2020, despite of the extraordinary circumstances. After a good start of the year, results were greatly affected by the COVID-19 pandemic starting in the second quarter. Due to adequate measures and a limited market recovery as of the third quarter, a positive result was ultimately realized. In 2020, major steps were taken in integrating Van Leeuwen and Benteler Distribution. As a result of this acquisition, the company’s size has doubled.

In 2020, total sales volume however was significantly affected by less market activity. The Van Leeuwen Pipe and Tube Group closed the year with total sales of € 1,178 million (2019: € 787 million), an operating result of € 15 million (2019: € 17.0 million) and a net result of € 9.4 million (2019: € 10.1 million). The net debt position of € 85 million changed to a net cash position of € 22 million at the end of 2020.

Market conditions and worldwide trends

The year 2020 started off well, with favorable economic conditions and a favorable outlook.

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Measurements

In 2020, everyone was confronted with unprecedented circumstances due to the pandemic. Naturally that also held for our own people. 

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Integration of Benteler Distribution

At the end of 2019, we completed the acquisition of Benteler Distribution, an international distribution company that, just like Van Leeuwen, offers a wide range of carbon steel and stainless steel pipes and tubes and services.

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Financial results

The Van Leeuwen Pipe and Tube Group’s consolidated net sales were € 1,178 million (2019: € 787 million). 

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Strategic developments

In 2020, we therefore reviewed our strategy and brought it in line with the new situation. Our strategic plans for the coming years have been redefined and refined. 

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Developments within the organization

To achieve our strategic goals and to continue to be a leading specialist in steel pipes and tubes, we rely on a large team of skilled and motivated professionals. 

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Outlook

In 2020, we took major steps integrating both companies and we built the foundation for the future.

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