Fortunately, we are in the right sector and our customers and employees have adapted quickly to the changed circumstances. As a result, we were ultimately able to close 2020 financially well. This is the conclusion of CEO Eric van Schagen after an eventful year. Turnover fell by more than 8% from € 276 to € 252 million. The operating result ended at € 8.9 million and the net profit for 2020 amounted to € 4.7 million.
Just like on society as a whole, the corona crisis in 2020 had a significant impact on technology company Simac. Especially on employees, but also on turnover and result, which are somewhat lower than in the previous year. Yet Eric van Schagen is positive. During the first outbreak of the corona virus, Simac had to deal with strict lockdowns, especially in Belgium, Luxembourg, the Czech Republic and France. In the second half of the year, however, results recovered both in the Netherlands and internationally.
Order book remains at a good level
Eric van Schagen: “Fortunately, most of our customers and therefore ourselves were not in the corner where the biggest blows fell. As a result, we got through the second quarter without a loss. The consequences were of course considerable for many of our employees. Working from home became the norm and social life largely came to a standstill. There was more room in the third quarter, but far-reaching corona measures were again necessary at the end of the year. Nevertheless, the financial results have improved towards the end of the year. All in all, quite a task, but compared to other sectors, the consequences for Simac were ultimately better than expected. And so far the order book has also remained at a good level. ”
Result is satisfactory
“A stable year after a number of years of growth, we are very happy with that,” says Eric van Schagen. "Turnover fell by more than 8% from € 276 to € 252 million, but the result remained good." Excluding a goodwill amortization of € 1.9 million, the operating result (EBITA) ends at € 10.8 million (2019: € 12.9 million). Last year, Simac invested a lot in multi-cloud services, new software applications and integrated services. At the end of the year, 70% of the shares of PHI DATA, a Belgian technology company specializing in identification and IoT (Internet of Things) solutions, were acquired. In addition, the existing interests in Simac ICT Czech Republic and aQuestora were expanded. These acquisitions were paid for from the cash position, which nevertheless remained positive and even grew. Simac has not made use of special corona support measures (for example the NOW scheme or tax deferment). Net profit for 2020 amounted to € 4.7 million (2019: € 7.0 million).
Constantly investing in innovation
Eric van Schagen: “Our companies in the Netherlands, Belgium, Luxembourg, the Czech Republic and France continued the good results. Much has again been invested in innovation. Interesting and important developments are taking place both within and outside the Netherlands, close to the customer and the market. We continue to believe it is important that innovation is in the capillaries of our organization. The general outlook for 2021 remains uncertain. The corona crisis continues and the economic consequences could be greater for Simac this year than in 2020. It is all still difficult to estimate. ”
October 1, 2021 is a special moment for Simac. Simac will then exist exactly 50 years. This memorable event will certainly not go unnoticed, depending of course on the possibilities that will be there in the autumn.