Bilfinger GVA reports record end of year with turnover up 9%

Leading UK real estate advisory firm Bilfinger GVA announces a marked rise in turnover to more than £190 million, and a 38 per cent rise in annualised operating profit before exceptional items for the year to 31 December 2015.

Bilfinger GVA’s accounts, which were submitted to Companies House last week, illustrate how revenues increased by nine per cent (or circa £16 million) to £190 million, up from £174 million the previous year*.

The rise helped operating profits before exceptional items increase to £23.5 million.

The 2015 financial year trading performance was achieved with a collective increase in average employee numbers of 0.8%.

Net current assets increased by £14 million to £26 million and net assets increased by £17 million to £117 million. This shows a healthier liquidity position for the Group.

Gerry Hughes, Chief Executive for Bilfinger GVA, comments: “Our trading performance illustrates our growing strength here in the UK. It reinforces our position as the UK’s leading real estate advisory firm. It also provides us with a strong base from which to grow.

“These results, combined with a clear commitment from our new owners EQT to invest in this business, represent a major opportunity to compete regularly for the largest global mandates, not just here in the UK, but throughout continental Europe.”

Looking ahead, Gerry Hughes adds: “Brexit will have a direct effect on our market in the short to medium term. Nevertheless our consultancy-focused business model ensures a robust, more sheltered platform when compared to many of our brokerage-based competitors who in contrast remain more exposed to economic headwinds.”

Bilfinger GVA remains the number one provider of real estate services to the public sector. It is also the largest and most diverse real estate advisory services firm outside of the capital.