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Outlook 2021

Given the high degree of uncertainty, it is not easy to look ahead to 2021 in proper and substantiated terms. Vebego has asked all its companies to make a number of scenarios in order to prepare the 2021 budget. We do not work on the basis of a uniform framework, but we ask for customisation because the differences are large per country and per sector. Vebego expects an increase in demand for services in the second half of 2021, particularly at the airports, event locations and with the ‘leisure’ clients. After opening, sectors that were severely hit during the lockdown will experience explosive demand.

The result for 2021 will be lower than this financial year, mainly due to catching up of investments that were not made in 2020. A number of large strategic projects will also be rolled out in the coming year in order to be able to grow into the powerful collective Vebego wants to be in 2025. These projects regard, for example, increasing the sustainable employability of our employees, the further rollout of a standard digital workplace, sharing knowledge and expertise across the companies, positioning our companies and reducing our CO2 footprint. 

The most important project for the coming years is ‘Designing our Future’. In 2020, Vebego began strengthening the organisation and with that, also its market position. The intention is to form a total of eleven large companies in 2023 in Belgium, Germany, the Netherlands and Switzerland, that will operate in cleaning, facility management, landscaping, personnel services and healthcare. It is also the intention to expand the existing shared services in the Netherlands with new positions and expertise teams that can provide professional support to all Vebego companies in the Netherlands. The proposed restructurings will also lead to changes in the organisational structures starting in 2021. The Works Councils will be closely involved for this purpose. Employees who experience a change in work due to the combining of companies will receive proper guidance. In the longer term, the number of jobs will increase due to the expected growth. 

In the long-term, Vebego also aims to merge and further strengthen its activities in facility services, healthcare and temporary employment in Belgium and Germany, supported by shared services in those countries. In Switzerland, the transformation of the current facility services provider, Vebego AG, already began in 2018. After completing this transformation, a roadmap will be drawn up with the goal of realising additional synergies and to have one company in Switzerland for cleaning and facility services. 

The Vebego companies are constantly working to improve and renew their services, with the goal of helping clients better and more efficiently, but also mainly to reduce the workload for the employees. We include the R&D investments that were made in this area in the current business operations and do not meet the criteria for capitalisation on the balance sheet.