• Pages
  • Editions
01 Annual Report Summery 2022
02 Index
03 Foreword
04 Company profile
05 ROTO Strategy House
06 Purpose
07 Core values
08 Core values 2
09 Business Units
10 De Boer Staal
11 Staco
12 Prestia
13 Rotocoat
14 Rezinal
15 Core themes
16 Ecosystem
17 Highlights
18 Highlights-2
19 ESG key figures
20 Environmental
21 Safety and wellbeing
22 Financial key figures
23 Financial key figures 2
24 Safety
25 Safety 2
26 Safety 3
27 Safety 4
28 People
29 People 2
30 People 3
31 People 4
32 Sustainability
33 Sustainability 2
34 Sustainability 3
35 Sustainability 4
36 Sustainability 5
37 Marketing
38 Marketing 2
39 Sales
40 Sales 2
41 Sales 3
42 Sales 4
43 Sales 5
44 Digitalisation
45 Digitalisation 2
46 Innovation
47 Innovation 2
48 Innovation 3
49 Innovation 4
50 Finance
51 Finance 2
52 Finance 3
53 Finance 4
54 Risk management
55 Risk management 2
56 Outlook to the future
57 Outlook to the future 2
58 Report of the Supervisory Board
59 Report of the Supervisory 2
60 Summary consolidated financial statements
61 Summary consolidated financial statements 2
62 ROTO businesses
63 End page

Investments

In 2022, we invested € 15.0 million (2021: € 10.5 million) in our five Business Units. At Staco Nederland various strategic investments were made in new machinery and equipment as well as in renovation of buildings and solar panels. For Rotocoat, the remainder of investments at the site in Heerhugowaard took a larger share, whereas Prestia had a longer list of investments at the various sites. Rezinal and De Boer Staal had mainly smaller investments.

Due to the positive cash flow, all investments in 2022 were fully financed from own resources. In 2023, investment ambitions reach a level of € 15.5 million, apart from some bigger strategical investments that are in preparation for further decision-making.

Group solvency and cash flow

Following the good results, our group solvency, expressed as a percentage of total assets, increased from 38.6% at year-end 2021 to 46.1% at year-end 2022. No dividend was paid in 2022 and it was proposed to add the 2022 net profit in full to the general reserves to enable ROTO to strengthen its strategic positions. The financial position and operating cash flow are sufficient to continue activities without additional financing. ROTO complies with the agreements made with credit institutions.

As a result of higher zinc and steel prices, the working capital increased to € 65.7 million at year-end 2022 (year-end 2021: € 51.3 million). The increase was visible in working capital items such as stocks, receivables corrected by a decrease of liquid assets and the decrease in short-term debt. Overall, the increase in working capital items was related to the increasing (commodity) prices at the end of 2022 compared to 2021. While inventory volume declined due to order book deliveries for which the required orders had been pre-purchased, the increased prices of inventory items had a larger positive effect, leading to a higher inventory value. The positive cash flow from operating activities has been used for payment of investments and repayment of loans resulting in a decrease of cash and cash equivalents of € 13.0 million (2021: an increase of € 12.4 million).