The Van Leeuwen Pipe and Tube Group achieved a small positive result in 2016, despite continuing difficult worldwide market conditions. The global tonnage sold remained in line with the previous year, but lower prices affected the sales volume, putting pressure on the gross margin. Measures were taken in all branches to align costs with the lower revenues. Restructuring costs put further pressure on the net result, which ended up at € 0.7 million.
Van Leeuwen’s sales amounted to € 549 million, a decrease of 12% compared to 2015 (€ 623 million). The operating result and the net profit decreased in comparison to last year and were € 1.5 million (2015: € 4.5 million) and € 0.7 million (2015: € 4 million), respectively. The effect of the one-off restructuring
costs and the liquidation of our company in Brazil (Tubexpress) amounted to more than € 5 million. The net debt position decreased significantly from € 48 million to € 22 million. Solvency further increased to 49% (2015: 46%).