Trend in results

The net result was €10.6 million (2021: €28.3 million). A return of 0.8% (2021: 2.7%). The decrease in the net result has a number of causes. The main reason being the investments in the transition to a future-proof organisation with 11 large companies. 

For example, in 2022, major investments were made in the merger of the cleaning companies in the Netherlands into one large company. In addition, investments were made in the merger of all landscaping companies in Vebego Groen, and the formation of a shared services and expertise company. We have also started the merger of hectas and Servico in facility services in Germany. In 2022, we also made a major investment in the purchase of a new personnel system for the Dutch companies. This system was successfully implemented in 2022, so that the personnel administration and remuneration for almost 11,000 employees has been running smoothly from January 2023.

In addition to these investments, the lagging result of our healthcare companies in the Netherlands was felt. The pressure on the gross margin in this segment is significantly influenced by two factors. There was a significantly higher absenteeism and there was a very high turnover. Both have resulted in additional expenses for temporary hiring and recruitment.

The shortage in the labour market (resulting in higher expenditures for hiring staff) and the high inflation (often not directly chargeable to the client) has reduced the net profit of various business units. The sale of three properties (which were subsequently leased again via a sale-leaseback construction) had a positive effect on the result once-off.