Home Business Altrad Group reports record revenue

Altrad Group reports record revenue

1153
0
Altrad

Altrad Group has announced record revenues of €3.42 billion for the fiscal year ending August 2018.

The giant French-based group reported a net profit growth of €201 million in 2018 in comparison with €138 million in 2017. Altrad’s successful acquisition and integration of Cape plc in September 2017 has significantly contributed to this strong growth.

According to an Altrad report, the group’s overall revenue is represented by an impressive 81% to services provided and 19% to equipment manufacture, this section of the business continues to grow and perform well with healthy margins, the group said.

A core initiative of the Altrad group in this financial year has been to bring forward different business all working together under the Altrad umbrella. This combing of workforces has enabled Altrad to diversify their service offering with improved exposure to longer-term sectors including Oil and Gas.

One of the world’s largest scaffolding providers Altrad have more than one-third of their business outside of Europe with under a third being in the UK and according to KHL hold stock with a value of €1.2 billion. With Brexit on the horizon, it seems the Altrad group is positive about their future market in the UK, despite all the uncertainties we face the UK market is showing a good standard of resilience and the group have various plans in place to prepare for any uncertain outcomes.

Altrad’s CEO Lois Huetz said: “These record full-year results reflect the transformative evolution that the Group has undertaken in recent years. The strategic rationale to diversify Altrad’s service offering and expand our geographical footprint has provided the Group with a significantly stronger and more balanced business. The breadth of our services ensures we have the scale and capabilities to meet the exacting demands of our enviable blue-chip client-base across our various sectors and geographies.

Following the successful integration of Cape throughout this year, we have firmly established ourselves as an undisputed world leader in services to large industry and equipment for access to the construction and maintenance of the world’s largest facilities. We are employing strategies to consolidate this position further by leveraging the operating efficiencies and new opportunities that present themselves to us on account of our increasing scale and profile within the industry.”