Facts & Figures 2015
VB Group generated operating profit of €2.9 million in 2015. All divisions made a positive contribution to this. The investment division was split off from VB Group for financial and strategic reasons at the end of 2015 and the investment activities are being continued in an independent entity. The group's net profit was €1.5 million. As said, a good, appropriate result that satisfies us in every respect.
Compared to most of the competition in the market, our Construction business unit continues to perform well. By being on the alert and responding effectively to changes in the market and by continually investing in expertise and innovation, our construction company again – as it incidentally also did in all the lean years that are now behind us – produced a profit. Turnover in 2015 was €89 million and pre-tax profit was €1.6 million. The weighted order portfolio amounted to €126 million at year end 2016, implying an ongoing solid level.
The Development business unit was likewise profitable. Its pre-tax profit was €0.4 million. Turnover for 2015 was €16 million. The outlook for Development is good. The residential property market is picking up more quickly than expected and previously postponed projects and positions where substantial downward revaluation had taken place in recent years are being reconsidered. Promising opportunities in current commercial real estate are moreover appearing in attractive locations. Given our current portfolio, our relationships with existing and new finance providers and joint venture partners and an attractive market, we are looking forward to the future with confidence.