More and more companies in need – Financieele Dagblad (Registration)

More and more companies in need – Financieele Dagblad (Registration)

About a quarter of the Dutch construction companies have too little fat on the bones to absorb setbacks. Except Ballast Nedam, which put itself on New Year’s Eve in the window, also on the Stegge and Van Wijnen low buffers. This is evident from a study of this newspaper to the results of the twenty largest construction companies.

The construction industry has been struggling for six years with losses or extremely low margins. The buffers are being eroded. A single setback can push weak companies all over the edge, unless the shareholders to help out.

2015 difficult year ‘

“2015 will be a very difficult year for the industry,” says Edmond Verstraete, head of the construction section at PWC . “More and more companies are onerous because long-term projects that were profitable now anticipate.” He expects more layoffs despite the careful recruitment of the housing market.

Among the companies that have the heavy, Wines From belongs, with a turnover of € 575 million is one of the largest among the medium-sized builders. The company says from Baarn to have a healthy solvency of 32%. But the latest data show that Van Wijnen Holding a solvency ratio was only 13% in 2013.

The market is a solvency from 25% to 30% as a minimum seen to absorb setbacks. The ratio shows what portion of the total balance was financed with equity.

Onerous land positions

According to CEO Cees van Bemmel Wines From only makes known the results of the Group as relevant to customers and suppliers. “Who wants to see the results of the Holding, please contact the Chamber of Commerce.” Van Bemmel acknowledges that both companies are intertwined. Creditors of the holding company may also join the group visit.

According to insiders, there are more companies that only publish the figures of subsidiaries so onerous land holdings and goodwill amortization are hidden from view. Also on the Stegge that a turnover of around € 400 million and offices across the country, publishes relatively favorable figures of a company that hangs below the top structure.