Although the corona pandemic was still present, 2021 was overall a positive year. Not only strategically with the acquisition of Prestia, but also financially. Our Business Units largely recovered from the decline in 2020 and produced a consolidated result after tax of € 11.7 million (2020: € 3.4 million), with only a marginal contribution from Prestia.

Revenue and result

Revenue increased in 2021 by 33.4% to € 195.3 million (2020: € 146.4 million). This increase is largely attributable to the higher zinc price, resulting in a substantial higher revenue for Rezinal. Additionally increased steel and zinc prices added extra revenue for our Business Units Staco, De Boer Staal and Rotocoat: the revenues increased with 4.5% up to 20.3%, concluding that each of our Business Unit has contributed to the growth of our Family Group.

Since the acquisition of Prestia on 5 October 2021, Prestia’s revenue is included in the consolidated figures for the last quarter of 2021, giving the year a further boost in revenue. In this way all Business Units contributed to the operating result of € 20,6 Mio (2020: € 4,5 Mio) in which the increased costs for procurement and direct personnel are already absorbed. Better operating results leading to higher taxes of € 3.5 million and the effect on the non-controlling interest of more than € 5 million, explain the difference between operating result and net profit after tax.

ROTO benefited from rising steel and zinc prices in 2021, but immediately the potential risk of falling prices is increasing. By aligning available stocks with production planning and sales forecasts, potential risks are limited. Agility on adapting our prices is challenging for our sales teams and has full management attention.