Dordrecht, February 24, 2022
Preface
In December 2021, we informed you about the developments within the Van Aalst Group and the steps that management has taken towards a successful turnaround. Through this update we would like to inform you, our important stakeholders, about the progress of this process. We
In this update we will concentrate on the main operating company, Safeway BV, but will also briefly discuss the other group companies.
Summary and conclusion
Van Aalst Group suffered heavily from the consequences of the Covid pandemic in 2020 and 2021. We informed you about this in the previous investor update and this topic was also discussed extensively at the annual meeting. We also committed to informing you more frequently about the progress within our company and for that reason this update.
We are pleased to report that our commercial efforts have been successful. The company can look forward to increased interest from renowned customers and is succeeding in converting this interest into concrete orders and contracts.
With these successes comes the financial change to a positive cash flow and financial peace returns to the company to some extent and we can look ahead again. The further expansion of the rental fleet will have to be on the agenda, as will the method of financing this. Furthermore, we need to work hard on rebuilding the organization and strengthening the operations department. Innovation and growth are back on the agenda.
All signals on the road to recovery are green. Support from all stakeholders, confidence from the market, positive prospects in the offshore wind market and a stable, continuously high occupancy rate form a solid basis for further growth in turnover and profit.
In the coming months there will be a lot of pressure on the organization to properly complete and deliver all contracts, but management expresses its confidence that we will succeed in realizing this with the support of all involved.
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