Summary
- In 2019, BESIX achieved a record turnover of 3.33 billion euros, an increase of 32% compared to 2018. The building sector accounts for 65% of the turnover. The order book of 4.8 billion euros is also at a record high. The consolidated net result, at 42.2 million euros, is however below expectations.
- Contracting remains BESIX's core activity, with iconic projects delivered in 2019, including the Crown Princess Mary Bridge in Denmark, the new DPG Media headquarters in Antwerp and the Forensic Medicine Coroners Court Facility in Australia.
- Real estate development continues to gain momentum, as do the Concessions & Assets activities. BESIX Real Estate Development matched its record turnover of 2018 with 154 million euros. The Concessions & Assets activities continued to deliver recurring revenues, particularly in the Middle East
- BESIX has made innovation a priority with, among others, BESIX 3D, BESIX Clean Air, the development of the BESIX Start-Ups Accelerator and the construction of a first 'Smart Building' in Dordrecht, the Netherlands.
- 2019 was an important year for the sector diversification, with the official opening of the first A-STAY hotel in Antwerp (Belgium), the launch of LN24, the first 24-hour news channel in French-speaking Belgium and the reopening of its renovated Flamant Sablon shop in Brussels, giving the brand a renewed visual identity.
- The outbreak of coronavirus pandemic has called for an extremely cautious approach and management of the ongoing activities. Many of the group's projects, particularly in Western Europe and Africa, were slowed down or interrupted during March 2020. Measures have been implemented in order to optimally sustain the social and economic consequences. Combined with a slowdown in the Middle East region, as a result of a collapsing oil price, this pandemic promises challenging times for our Group.
Statements of the Chief Executive Officer and the Chairman of the Board of Directors
Rik Vandenberghe, CEO of BESIX Group: “In 2019 we delivered a year of mixed performance with an order book to its highest ever level, a healthy net cash position but a lower than expected net result, partly due to a slow-down on the Middle Eastern market and to our prudent decision to book provisions to reflect our healthy risk management practices. This should not, however, overshadow the strong results achieved along the year, particularly in Concessions & Assets Middle East, Real Estate Development and, in Belgium, most of our Regional and Specialized entities.”
Johan Beerlandt, Chairman of the Board of BESIX Group: “The Board of Directors is prudent in its outlook for 2020. In the many countries of the world where we are present, a majority of our sites had to reduce activities in order to respect quarantine impositions. But, at a time when our businesses are temporarily disrupted, the Board wants to share its confidence in the strength of the Group. We are a smart, passionate and resilient force and we are drawing strength from our committed employees, from the diversity of our business activities and from our robust financial structure. Together, we can and we will face the unknown.”
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