Our figures

Believing in Tomorrow

Vebego believes in tomorrow. That is the theme of our annual report. A note of optimism at a time of uncertainty for many people. Yet this uncertainty has not shaken it - our belief in tomorrow.

Perhaps our optimism stems from our culture of identifying and seizing opportunities. And our belief in the strength of our people and our partners. Last year, therefore, we once again took the necessary measures. We invested: not just in a financial sense, but also mentally and in terms of our focus, to make our people, our partners and our companies even stronger. We feel fit and ready to meet pessimism head-on!

Difficult year

2011 will be remembered as a difficult year. A gradual improvement in the economy helped operating results to recover at the beginning of the year, particularly in the area of Personnel Services. Unfortunately, this recovery did not last. It came up against an economic headwind and the much-feared 'double dip' arrived after all. This saw price pressure from clients intensify once again, which had an impact on all of Vebego's activities. Our new activities are developing well, however, and the prospects for them are good.

Development of turnover

When talking about turnover at Vebego we use the terms managed and consolidated turnover. The consolidated turnover of 788 million euro comprises the turnover of all companies over which Vebego exercises control. This rose by 9.3%. Overall this represents a solid increase and can be attributed primarily to the organic growth of Sherpa, Zember and Vebego Services AG. With a figure of 16.7 million euro, the foundation of Vebego Airport Services also made a significant contribution to turnover. The acquisition of Belgian firm Ad Domus Dienstencheques and other service voucher companies also helped us to improve the turnover we generated.

Our managed turnover includes the income from joint ventures in full (click here for more background information). In 2011 Vebego’s managed turnover rose by 13.7% to 1,136 million euro. This growth was achieved in particular thanks to new joint ventures within Healthcare Netherlands and Healthcare Belgium and a new collaboration with a sheltered employment service.

Development of results

Our consolidated operating result fell by 8.9% to 13.9 million euro. All in all, our turnover therefore became less profitable. This reflects the pressure that we are experiencing from clients, something that applies in particular to our Personnel Services and Facility Services activities.

Our Belgian service voucher companies also require a certain amount of attention. Vebego Airport Services, on the other hand, had a positive impact on our result.

Our managed operating result rose by 7.6% to 28.9 million euro as a result of new joint ventures and improved performance at our existing ones.

Balance sheet

Our solvency stands at 24%. This is a good position that enables us to operate in the current market relatively independently of financial institutions.

Some figures

JV = joint ventures.