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No dividend for Fernand Huts

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August 17, 2022

10:50

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Katoen Natie, Fernand Huts’ group, will not spend a dividend to the perfectly-identified entrepreneur for 2021. Nevertheless, the team had a favourable yr.

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Logistics large Katoen Natie is one of the very last significant unlisted Belgian firms to publish consolidated benefits for 2021. The information demonstrates a new record turnover of € 2.29 billion. That’s an increase of virtually 10 p.c in excess of the 2020 crown yr. Huts has additional than doubled the group’s revenue in seven several years, not just by its individual forces, but also by means of acquisitions this sort of as the squander organization Indaver.

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Group internet earnings was almost half over 135.2 million euros. It is not a new document. Just one cause for the superior earnings is that wage expenditures have risen fewer substantially than turnover. With an ordinary of almost 16,400 staff members very last calendar year – about 1,000 much more than the previous year – these wage fees alone signify extra than fifty percent a billion euros.

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reinvest

Irrespective of the sturdy figures, at 1st look there are no dividends for Huts. The annual summary accounts do not present any explanation in this regard. But previous 12 months he stroked far more than a quarter of a billion euros though he is reinvesting a lot in the Katoen Natie growth. The team currently has a share funds of 1.34 billion euros towards 1.02 billion at the conclusion of 2020. But money owed have also improved. There have also been common dividends of several hundred million euros in prior yrs.

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2.29 billion

Cash flow

Katoen Natie realized a report turnover of € 2.29 billion very last 12 months.

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The annual accounts do not offer substantially rationalization on the functions. Other than that the team has carried out very well many thanks to its diversification into pursuits and areas. “We have been capable to construct buyer loyalty in virtually all of our small business units and even broaden our enterprise with them. For that reason, the dependence on selected buyers, companies and regions is turning out to be an increasingly reduced possibility for the team. ‘

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Growth

Katoen Natie expects revenue and gross operating margin (EBITDA) growth throughout all segments this year. “The results up to March verify this feeling”. Last calendar year EBITDA reached 455 million euros. The war in Ukraine did not have a significant effect on the company’s performance or operations until finally the finish of June. But the board of administrators ‘continues to keep an eye on the evolution of the situation’. Katoen Natie has no branches in Russia or Ukraine on the lengthy listing of established organizations.

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Katoen Natie operates port and logistics terminals and also gives numerous services, these as assisting organizations in the improvement of their logistics gear. The group is energetic on practically all continents.

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