The Royal Dutch Jaarbeurs managed to limit its loss in coronai year 2020 to 12.4 million euros (2019: over 12 million net profit). The exhibitions and events complex saw turnover more than halve in the year under review, to 58 million euros (2019: 141 million). As the Jaarbeurs had a successful 2019 and thanks to the corona employment scheme of the central government (NOW), its financial situation is still solid and it looks forward to the future with confidence. 2020 was therefore also used to accelerate the sustainability strategy and further invest in technology, digitalisation and innovation thanks to its good starting position.
CEO of the Royal Jaarbeurs Albert Arp: "2020 is without doubt one of the most special years in our 104-year history. At the beginning of the year, the good financial trend we had started from 2016 continued unabated. As a result, we fortunately went into the crisis top-fit financially and are coming out of it fit as well. Intervention in the workforce we were fortunately able to delay for a long time and keep it to a minimum."
China business recovered in second half of reporting year
Jaarbeurs is also active in Asia, among others, with its subsidiaries: "Due to the strict approach of the Chinese government, our Shanghai subsidiary was able to open its doors already in the course of June and has been able to show good results in 2020. That experience strengthens our confidence that we will start to see a recovery in trade fairs, congresses, events and other meetings in the Netherlands too, as soon as it is safe to do so again."
Investment and new construction
The Jaarbeurs has seized 2020 to invest heavily in security, digitalisation, technology, sustainability and innovation to ensure that Jaarbeurs is attractive and well prepared after the crisis. Arp foresees a phased start-up in the second half of 2021; "I also see this year as a year of further investment and transformation, in order to be as successful in the coming years as we were before the crisis. We will also continue to work unabated on our new building plans to become Europe's most sustainable event location, in a new and vibrant Utrecht Beurskwartier."
