Construction Industry Trends The Netherlands - 2021

市场监测

  • 荷兰
  • 建筑

2021年10月12日

Only a modest increase in insolvencies expected

 

Netherlands construction credit risk industry trends | Atradius
Netherlands construction output industry trends | Atradius

After a modest 0.8% contraction in 2020, Dutch construction output is forecast to grow by about 4% in 2021, and more than 2% in 2022. The rebound is mainly driven by residential construction and civil engineering. In the Netherlands, housing demand will remain high in the coming years, while infrastructure needs to be maintained and upgraded. However, non-residential construction rebound recovery remains muted for the time being, due to an ongoing lack of commercial construction demand. 

Dutch construction remains impacted by environmental issues, i.e. nitrogen reduction and tighter rules regarding per- and polyfluoroalkyl substances (PFAS) in the soil. They have resulted in many building project delays and postponement of building permits even before the pandemic. The current shortage of building materials has led to additional project delays. Tenders are affected by the reluctance to bid, as builders are afraid of not being able to pass higher construction material prices on to customers. There is an urgent need for construction businesses to find according agreements with developers (e.g. escalation clauses). 

The Dutch construction market is mature, characterized by low entry barriers and competition driven by price. At about 3%, profit margins have been very low for several years. Increasing prices for construction materials and higher wages will most probably have a negative impact on profit margins in the coming months. 

Payments in the construction industry normally take about 45 - 60 days. Payment experience has been good over the past two years, as the sector remained relatively stable during the pandemic. However, tighter environmental regulations and surging materials prices will most probably lead to increasing payment delays and insolvencies in the coming six months. Business failures are expected to increase by about 5%, albeit from a very low level. Due to the continued demand, our sector assessment remains “Fair” for the time being.

相关资料

免责声明

Each publication available on or from our websites, such as, but not limited to webpages, reports, articles, publications, tips and helpful content, trading briefs, infographics, videos (each a “Publication”) is provided for information purposes only and is not intended as a recommendation or advice as to particular transactions, investments or strategies in any way to any reader. Readers must make their own independent decisions, commercial or otherwise, regarding the information provided. While we have made every attempt to ensure that the information contained in any Publication has been obtained from reliable sources, Atradius is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in any Publication is provided ’as is’, with no guarantee of completeness, accuracy, timeliness or of the results obtained from its use, and without warranty of any kind, express or implied. In no event will Atradius, its related partnerships or corporations, or the partners, agents or employees thereof, be liable to you or anyone else for any decision made or action taken in reliance on the information in any Publication, or for any loss of opportunity, loss of profit, loss of production, loss of business or indirect losses, special or similar damages of any kind, even if advised of the possibility of such losses or damages.