Financial

On the home markets, revenue fell in 2019 by € 10.6 million to € 183.6 million (2018: € 194.2 million). This fall is largely attributable to the sale of the French expanded metal production site (€ 7.1 million) and the lower zinc price leading to a fall in revenue for the Business Unit Zinc recycling by comparison with 2018.

Revenue development 2015 - 2019

As a result of higher production volumes, revenue for the Business Unit Surface treatment rose. 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. As a result of the strategic repositioning, revenue for the Business Unit Grating technology was slightly lower than in 2018.

Due to pressure from the falling zinc price in particular, the gross margin in 2019 was 13.6%, 1.3% percentage points lower than in 2018. The margin increase in the Business Unit Surface treatment is the result of the strategic focus, which has been further embedded in the organisation. Margins are under pressure in the Business Units Grating technology and Steel and steel processing.

Gross revenue result (x € 1,000) 2015 - 2019

The consolidated result after tax for 2019 was € 3.6 million (2018: € 7.6 million). This lower result is mainly due to lower margins. The result after tax was also affected by the interest result, the result from shareholding interests, which included an exceptional non-recurring item, and the share of third parties in the result. On balance, these changes have had a limited effect on the net result.

In 2019, € 4.7 million was invested, € 0.4 million more than in 2018 (€ 4.3 million). The investments were mostly replacement investments, with the exception of the investment in the XL powder coating line in Wolvega and the investment in improving the production facility at Rezinal. The XL powder coating line has further widened Rotocoat's range of services and created a multi-service centre in Wolvega in the field of surface treatment. With the investment in a hypermodern extraction system for the furnaces, Rezinal can establish an even stronger profile as the production location for sustainable zinc recycling.

Investments (x € 1,000) 2015 - 2019

Financial

On the home markets, revenue fell in 2019 by € 10.6 million to € 183.6 million (2018: € 194.2 million). This fall is largely attributable to the sale of the French expanded metal production site (€ 7.1 million) and the lower zinc price leading to a fall in revenue for the Business Unit Zinc recycling by comparison with 2018.

Revenue development 2015 - 2019

As a result of higher production volumes, revenue for the Business Unit Surface treatment rose. 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. As a result of the strategic repositioning, revenue for the Business Unit Grating technology was slightly lower than in 2018.

Due to pressure from the falling zinc price in particular, the gross margin in 2019 was 13.6%, 1.3% percentage points lower than in 2018. The margin increase in the Business Unit Surface treatment is the result of the strategic focus, which has been further embedded in the organisation. Margins are under pressure in the Business Units Grating technology and Steel and steel processing.

Gross revenue result (x € 1,000) 2015 - 2019

The consolidated result after tax for 2019 was € 3.6 million (2018: € 7.6 million). This lower result is mainly due to lower margins. The result after tax was also affected by the interest result, the result from shareholding interests, which included an exceptional non-recurring item, and the share of third parties in the result. On balance, these changes have had a limited effect on the net result.

In 2019, € 4.7 million was invested, € 0.4 million more than in 2018 (€ 4.3 million). The investments were mostly replacement investments, with the exception of the investment in the XL powder coating line in Wolvega and the investment in improving the production facility at Rezinal. The XL powder coating line has further widened Rotocoat's range of services and created a multi-service centre in Wolvega in the field of surface treatment. With the investment in a hypermodern extraction system for the furnaces, Rezinal can establish an even stronger profile as the production location for sustainable zinc recycling.

Investments (x € 1,000) 2015 - 2019