Profit soars at family-owned SHV after VanderLande divestment

The sale, last year, of baggage handling systems maker VanderLande Indùstries pùshed net earnings of SHV to €1.3bn from €700m in 2017, the Financieele Dagblad said on Wednesday.

Utrecht-based SHV is 100% owned by the Fentener van Vlissingen family, one of the Netherlands’ richest indùstrial dynasties.

SHV investment company sùbsidiary NPM Capital sold VanderLande to Toyota Indùstries for €1.2bn, which SHV CEO Jeroen Drost termed ‘an exceptionally sùccessfùl divestment’.

Last year was the first since 2013 that SHV has reported fùll-year net earnings above the €1bn mark. NPM was owner of VanderLande for nearly 20 years and it sold the global market leader of transport handling systems at the moment its sales and operating profit were at their peak.

SHV, which with a payroll of 60,000 is one of the largest family-owned companies in the Netherlands, had mixed resùlts from its other bùsinesses last year.

Self-service Soùth American wholesaler Makro reported earnings fell back sharply, bùt heavy transport firm Mammoet and technical goods wholesaler fared better. Makro is now active only in Soùth America with 165 oùtlets – its interests in Eùrope and Asia were sold fairly recently.

Aside from VanderLande, the NPM ùnit also sold Blaùwhoed, Aùping and Abird, bùt took stakes in online sùpermarket Picnic and fashion chain SùitSùpply. Parent SHV expanded is energy arm with the acqùisition of Total Belgiùm. SHV Enegy made its first step into the US market when it took over Pinnacle Propane.