Wavin: Sales and earnings rise in 2001

Despite the economic slump in the European construction sector, Wavin BV, the Netherlands, lifted both sales and earnings in 2001 against 2000. Sales rose 5% to EUR 901m and earnings before interest, taxes and depreciation by 12% to EUR 112m. Employment in the Dutch group, Europe´s largest producer of plastic pipes, increased to 4,530 from 4,440 a year earlier. For 2002, Wavin said it does not expect any major change in the European market situation and is predicting flat earnings.The group attributes its sales improvement last year partly to acquisitions, but also to brisk business in the Benelux countries. The German and Polish markets remained depressed. Sales of plastic pipe systems in France and the UK were “satisfactory.” Overall, the European market for cable protection pipes declined sharply as a result of sinking investment in the telecommunications sector, Wavin said.

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