Good half-year results for Tauw despite crisis

Tauw Group achieved virtually the same turnover and profit in the first half of this year as in the same period last year. For the entire 2010 financial year, the consulting engineering firm expects to be able to maintain the financial results at the same level as in 2009. In that year Tauw achieved the best results in its 83-year existence.

Tauw Group reported a turnover of EUR 58.8 million for the first six months of this year, nearly as much as in the same period in 2009 (59.1 million). The net profit amounted to 0.5 million, as much as in the previous year. The slight decrease in turnover in the Netherlands was compensated for by the activities in the other countries.

All activities outside the Netherlands showed a better performance in the first half year than in 2009. In Germany, Belgium and France a profit was made, Italy and Spain saw some small losses but less than last year. Tauw expects to make a net profit of EUR 2 million for the entire financial year 2010, a figure which is line with the 2009 results (2.1 million).

This year Tauw bought a 15% stake in the Italian environmental consultancy firm STEAM. Tauw has also set up a new subsidiary, Tauw Oil & Gas. With these two steps Tauw further expands its position as an environmental consultancy firm for the international oil and gas industry. Tauw foresees great opportunities in particular in the transition from oil to multi-energy sources.

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