VolkerWessels is selling its part for technical installations, energy systems and telecom connections to the Swedish investor Triton. The companies involved are Visser & Smit Hanab, Homij Technische Installaties and VW Telecom. VolkerWessels wants to focus more on residential construction, property development and infrastructure. Therefore, the Dutch company was looking for a new owner for the 3,100-employee unit.
It is not known how much Triton is paying for VolkerWessels Connections and Networks, as the subsidiary has. The investment company is known in the Netherlands, among other things, for its acquisition of technology service provider Unica in 2017.
VolkerWessels also announced its annual results last week. Turnover rose by 3.4 percent to 6.8 billion euros, with the construction company benefiting among other things from more work for its infrastructure division in the Netherlands. This makes VolkerWessels the largest construction company in the Netherlands in terms of turnover. In Germany, VolkerWessels suffered from the malaise in the housing market and revenues from construction and real estate activities fell 6 percent.
Net profit rose 7 percent to 205 million euros. According to VolkerWessels, that better result is due to the more selective acceptance of orders, which should reduce the risks around projects. The order book, meaning how much work VolkerWessels still has to do, grew by a tenth to a value of 9.6 billion euros.
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