VolkerWessels UK has published a strong set of financial results for 2022 – reporting increased revenue and solid operational performance.
The Group posted a forward secured order book value of £1.7 billion, roughly in line with the previous year.
It also saw growth in the rail infrastructure sector (HS2, EWR), and in the commercial, industrial and educational construction segment, while strong output was seen in its core waterproofing, concrete repair and cathodic protection markets, and its marine, energy, water and environmental infrastructure businesses saw increased revenue during the financial period to 31 December 2022.
- Revenue: £1.3 billion (FY2021 £1.1 billion)
- Gross profit: £111 million (FY2021 £104 million)
- Gross profit margin: 8.2% (FY2021 9.1%)
- Operating result: £37.6 million (FY2021 £27.7 million)
- Operating result margin: 2.8% (FY2021 2.4%)
- Profit before tax (PBT): £37.7 million (FY2021 £27 million)
- PBT margin: 2.8% (FY2021 2.4%)
Cash value was reported at £146.9 million, compared to £136.2 million in the previous year.
Net assets were valued at £129.4 million (FY2021 £118.8 million).
The multidisciplinary contractor provides engineering solutions across civil engineering and construction sectors including rail, highways, aviation, marine, energy, water and environmental infrastructure and commercial and industrial building.
It has five core businesses – VolkerFitzpatrick, VolkerRail, VolkerStevin, VolkerHighways and VolkerLaser – supported by VolkerServices.
“Reflecting on the ongoing external challenges faced by the Group, including an ongoing period of lack of availability of building materials and supply chain labour in the market and related price inflation pressures, the directors are pleased to be able to report a strong set of financial results for 2022,” said the Group.
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