Prodrive on fire despite fire

In 2018, Prodrive Technologies saw net sales grow to 196 million euros and its total revenues including capitalized development increase to 218 million. Net profit rose to 15.9 million euros. Due to a fire at the HQ in Son (link in Dutch), business activities have been temporarily disrupted, resulting in a backlog of open orders at the end of the fiscal year. The system development company managed to recover in the course of the first half of 2019.

In last year’s annual figures, Prodrive has accounted for depreciations and impairments as a result of the incident for an amount of 71 million euros. Because of the intensity of the fire, experts were unable to determine the cause. Insurance proceeds will be fully reinvested in the company’s reconstruction and growth.

Despite the interruptions, Prodrive expects to accomplish a revenue growth of 25 percent for 2019. It says that it remains on track to realize its long-term strategy.