Despite headwinds, Van Leeuwen Pipe and Tube Group turns in fine results

The Van Leeuwen Pipe and Tube Group closed 2023 with good figures in sales and net profit. After very favorable market conditions in the two previous years, the results came out at a lower level. Demand was lower in various markets, resulting in price pressure and consequently lower gross margins. Total sales volume remained virtually unchanged from 2022 due to higher volume in direct deliveries and projects. Once again, significant investments were made in logistics and storage systems, machinery for specialized operations, and the expansion of warehouses and offices. The company will celebrate its 100th anniversary in 2024.

The Van Leeuwen Pipe and Tube Group's total sales in 2023 were € 1,621 million (2022: € 1,672 million). Operating income came to € 60 million (2022: € 104 million) and net income to € 43 million (2022: € 88 million). Solvency improved to 46.8% (2022: 42.9%).

Total inventory sales were lower than the previous year in all markets due to weaker market demand. However, this was offset by higher volume in direct deliveries and projects. This resulted in virtually the same total sales figure as in 2022 despite a difficult market. In European industrial markets, Van Leeuwen maintained its market share. Demand in the construction and mechanical engineering market segments was lower, but demand was good in the hydraulics and automotive market segments. In the global energy market, Van Leeuwen benefited from good market demand. Van Leeuwen supplied energy projects in countries including the Middle East, Asia and the United States.

Connected network

Peter Rietberg, Chairman of the Executive Board: "We achieved a good result in 2023 despite less favorable market conditions. Also 2024 will be challenging. This year in particular we are proud to celebrate the 100th anniversary of our family business. Our anniversary theme 'Connecting Worlds' stands for an internationally connected network with committed teams, connected to customers and suppliers around the world. It stands for continuity, sustainable growth and innovative entrepreneurship. With our many years of experience, we are setting a sustainable, innovative course with which we will continue to offer the best to our customers and build on our company now and in the future."

Also in 2023, Van Leeuwen invested in sustainable solutions based on its ambition to be the greenest pipe distributor in the world by 2030. Meanwhile, 6.5 million euros have been invested in green electricity on its own roofs in the Netherlands, Germany, Romania, Denmark and Australia. By 2023, Van Leeuwen complemented its product range in the Netherlands, Germany and Sweden with steel pipes produced with a reduced_{CO2 footprint}. Van Leeuwen also invested significantly in the company, including the Monorail in Zwijndrecht, a 315-meter long automated transport and sorting system, expansion of the warehouse in Vyškov, Czech Republic, and a new regional headquarters in Halmstad, Sweden.