Dutch pipemaker reinvests record 2022 profit

Van Leeuwen Pipe and Tube Group ended 2022 with record sales and net profit figures, thanks to high prices in combination with a strong stock position. The growth in profit has provided opportunities for the company to invest in growth, it tells Kallanish.

Sales amounted to €1.67 billion ($1.83 billion) in 2022, after €1.43 billion in 2021. The operating result was €104 million (2021: €79m) and net result was €88m (2021: €64m).

The strong profit growth provided an opportunity to significantly invest globally in the modernisation and expansion of warehouses and offices, logistics and storage systems and machinery, Van Leeuwen says. In addition, as part of its sustainability strategy, Van Leeuwen invested more than €5m in solar panels on its roofs, including in the Netherlands, Germany and Romania.

The very healthy financial position enables the company to maintain its global stock value, which has doubled due to the high prices. It also notes that it is encouraged to continue to grow and invest in its business. Van Leeuwen does not specify if its ambitions are confined to internal expansion, or also include acquisitions of other companies.

Christian Koehl Germany