The merger of CWS-boco and Initial resulted in a sharp increase in revenue to EUR 970 million in 2017.
On June 30 2017, CWS-boco and Initial formed a joint venture: CWS-boco’s business in 16 countries has been merged with Initial’s activities in 10 European countries. That way, CWS-boco’s revenue was up by 21 percent at EUR 970 in 2017. This was primarily attributable to the merger with Initial in the second half of the year.
The operating profit was weighed down in particular by one-off expenses for the integration of the Initial companies. It therefore declined from EUR 77 million in the previous year to EUR 51 million.
The implementation of the new divisional structure, which was accelerated in 2017 in the course of the joint venture, was fully completed at the beginning of 2018. CWS-boco has established two divisions across all countries: The Hygiene Solutions division will provide washroom hygiene solutions and dust control mats, while the Textile Solutions division’s service portfolio will cover the renting and sale of textiles and cleanroom, health and health care products.
CWS-boco is working intensively to digitalise its products and services to meet customer needs. In addition, CWS-boco further developed its business with service offerings under the “loovio by CWS” brand relating to high-quality public washrooms that are available to users for a fee.