Dutch consultant Arcadis has reported a 12% rise in gross revenues to € 2,003 million (£1.7bn) despite the severe downturn, in results released today.
Arcadis reported annual organic revenue growth was flat, but in the course of the year economic recovery fostered the return of organic growth.
In all business lines activities grew organically, except in buildings. Net income from operations rose 6% to £67M. Good results is down to improvements in the U.S. environmental market, expansion of activities in Asia and favourable market conditions in South America, partly offset by lesser results in Europe due to pressure on government budgets.
In the fourth quarter two acquisitions were building businesses were completed, GFÖB in Germany and US firm Rise International.
“Thanks to acceleration of organic growth to 5% during the fourth quarter, we crossed the revenue threshold of €2bn (£1.7bn), exactly five years after passing the €1bn (£8.5bn) milestone,” said Arcadis chief executive officer Harrie Noy.
Arcadis believes the economy in the U.S. and Europe is gradually recovering, driving increased private sector investments. In the public sector the crisis until now mainly affected local governments. In the meantime central governments in Europe have announced measures to balance their budgets.
The same is happening in the United States. As yet it is unclear what the effect thereof will be on the economy and the markets relevant to us. Market conditions in Brazil and Chile are very favourable, while also Asia and the Middle East offer opportunities for further growth.