Our figures

'Happiness Index. May it also be in figures?'

Improving economy helps with recovery and presents new challenges

2010 was a year of ups and downs. A gradual improvement in the economy helped operating results recover at Personnel Services. In spite of this, price pressure from clients intensified. The economic growth also made the challenges on the labour market highly relevant once again. In Germany, for example, we are already having to contend with a shortage of personnel that is inhibiting our growth.

On the Facility Services markets competition remains fierce, resulting in persistent price pressure and pressure of work. Generally speaking, our companies are standing up well in this difficult market environment, although it is clear that we need to find a better answer to clients’ demands for further cost reduction. The current supply model has reached its limits as far as maximum efficiency and productivity are concerned.

Demographic developments and the political arena are giving the healthcare sector its own dynamics. There is increasing scope for entrepreneurship here. Organizations are looking for solutions, and our solutions, which focus on innovation, efficient operations and the issue of labour, are a perfect fit with these.

Development of turnover

When talking about turnover at Vebego, we use the terms managed and consolidated turnover. The consolidated turnover of 721 million euro comprises the turnover of all companies over which Vebego exercises control. Managed turnover includes the income from joint ventures in full (see these pages for further background information).

In 2010 Vebego’s managed turnover rose by almost 14% to 999 million euro. All activities contributed to this increase. More than half of the growth can be attributed to the healthcare activities in the Netherlands and Belgium. Facility Services Netherlands also made a substantial contribution to this rise in turnover. The growth of Facility Services International is just above the level of inflation, and this is also the case for our Products & Systems activities. Lastly, Personnel Services recovered strongly thanks to the improving market.

Development of results

Managed Earnings Before Interest and Taxation (EBIT) showed slightly stronger growth than turnover, climbing by 19% to 27 million euro. Unfortunately, we did not manage to achieve the desired improvement in profit. It was primarily due to problems in France that EBIT remained below the targeted level. Profit also fell compared with last year’s figure at Facility Services Netherlands. The EBIT contribution of Personnel Services, on the other hand, increased strongly, while EBIT from Healthcare activities and Products & Systems grew in line with turnover.

Some figures

JV = joint ventures.