TPT July 2011

20 / 184

18 July 2011 ›
Industry News
THE Van Leeuwen Pipe and Tube Group
achieved a significant improvement
in its result in 2010 compared with the
previous year. Market recovery and a
modest increase in market share led to
an increase in volume of 16 per cent
worldwide. The company was able to profit
from its global network of locations, stocks,
services, and logistics, and it invested in
various expansions in 2010.
The net result came out at €7.8mn, an
improvement of €5.9mn compared with
2009. Solvency remained strong at 50
per cent. The measures taken in 2009 to
cut costs and reduce stock levels enabled
the company to make a good start,
despite the uncertain market conditions
at the beginning of 2010. Customers and
suppliers around the world had made
substantial reductions in their stock levels.
As a stock-keeping trading company, Van
Significant improvement in results for
Van Leeuwen Pipe and Tube Group
Leeuwen was able to respond well to
the market demands through its global
network of stocks, logistics and services.
As an international company trading
in steel pipes and pipe products, Van
Leeuwen targets both the energy market
and the industrial market. A recovery in
volumes could be seen in the European
industrial market in particular, for instance
among machinery manufacturers.
Global activities within the energy
market were at a lower level in 2010 than
in 2009. However, there was a global
recovery in investments at the end of the
year, and a significant increase in the
number of requests for projects in the
Middle East, Asia and Australia.
The company invested in locations
and new product groups in 2010
to enable it to serve new customers
and markets. For example, it acquired
the Fluid Power division of Anbuma,
a Belgian stock-keeping distributor
operating in France, Belgium and the
Netherlands. The Offshore Structurals
international business unit was set up to
provide customers around the world with
complete steel packages for the offshore/
oil and gas segment. Van Leeuwen set up
a new stock location in Scotland, opened
a new sales branch in Slovakia and took
the first steps towards serving the local
Polish market by opening a stock location
in the south of Poland.
A branch was opened in Saudi Arabia
to be able to supply large petrochemical
projects locally. Van Leeuwen further
extended its network of offices in Asia
with a new sales office in Ho Chi Minh,
Vietnam. Furthermore, the stock location
in Queensland, Australia, was extended
in 2010. The total number of employees
grew from 1,005 at the end of 2009 to
1,030 at the end of 2010.
The market outlook for 2011 is definitely
better than last year. The first quarter
showed a clear increase in demand in
both the energy market and the industrial
market. Van Leeuwen has a sufficiently
strong financial base to enable it to focus in
the years ahead on extending its network,
materials, and product groups, including
through acquisitions.
The Van Leeuwen Pipe and Tube
Group’s consolidated sales were €477mn,
an increase of 4% compared with the
previous financial year. The operating
result, adjusted for non-recurring income,
was €8.7mn in 2010, an improvement of
about €2.3mn on the previous year. Interest
charges remained low, partly thanks to the
strong cash position. The result from the
participating interests increased by more
than €5mn.
There was a substantial increase in
the net result, which came out at €7.8mn
(2009: €1.9mn). The company was able to
maintain its strong cash position and solid
balance sheet in 2010. This cash position
enables the company to act quickly when
encountering acquisition opportunities.
Group equity increased from €146mn to
€157mn, while solvency remained high
at 50%.
Van Leeuwen Pipe and Tube Group –
Netherlands
Website: