Financial

Revenue for 2018 was € 194.2 million, 0.1% more than in 2017 (€ 193.9 million), with revenue increasing for all the Business Units with the exception of the Zinc Recycling Business Unit. The lower revenue of the Business Unit Zinc recyclingis attributable to the direct effect of the lower zinc price. Revenue increased strongly again in the Business Unit Expanded metalby comparison with the previous year, mainly due to strong growth in the architecture market segment.

Revenue development 2014 - 2018

Revenue also increased in the Business Unit Steel and steel processing, with volumes developing positively, particularly as a result of the sales of shipbuilding packages. The Business Unit Surface treatment is benefiting from economic developments with higher production volumes and an increase in revenue.

The gross margin for 2018 was 14.9%, 3.6 percentage points lower than in 2017. The decline in margins can be largely explained by the falling zinc price at the Business Unit Zinc recycling, but the margins were also smaller at the Business Units Grating technology and Steel and steel processing. The improvements in capacity and efficiency are not yet apparent, while the increase in steel prices does result directly in a higher cost price. The question of passing on price increases to clients continues to be the focus of management's attention. Gross margins increased in the Business Units Surface treatment and Expanded metal, in part as a consequence of a good strategic focus.

Gross revenue result (x € 1,000) 2014 - 2018

Financial

Revenue for 2018 was € 194.2 million, 0.1% more than in 2017 (€ 193.9 million), with revenue increasing for all the Business Units with the exception of the Zinc Recycling Business Unit. The lower revenue of the Business Unit Zinc recyclingis attributable to the direct effect of the lower zinc price. Revenue increased strongly again in the Business Unit Expanded metalby comparison with the previous year, mainly due to strong growth in the architecture market segment.

Revenue development 2014 - 2018

Revenue also increased in the Business Unit Steel and steel processing, with volumes developing positively, particularly as a result of the sales of shipbuilding packages. The Business Unit Surface treatment is benefiting from economic developments with higher production volumes and an increase in revenue.

The gross margin for 2018 was 14.9%, 3.6 percentage points lower than in 2017. The decline in margins can be largely explained by the falling zinc price at the Business Unit Zinc recycling, but the margins were also smaller at the Business Units Grating technology and Steel and steel processing. The improvements in capacity and efficiency are not yet apparent, while the increase in steel prices does result directly in a higher cost price. The question of passing on price increases to clients continues to be the focus of management's attention. Gross margins increased in the Business Units Surface treatment and Expanded metal, in part as a consequence of a good strategic focus.

Gross revenue result (x € 1,000) 2014 - 2018