Most European installers had a good Q4, French installers are lagging behind
Installers in the UK have the second best best filled order books in Europe and they saw a large growth in turnover in 2014 compared to 2013. Installers in Belgium, the Netherlands, Poland and Germany reported an improvement of order books in Q4 2014. France is the only country with a negative development.
UK: large turnovers and order books
In the UK, more installers report an increase than a decrease in their turnover in every quarter of 2014 compared to 2013. The expectations for Q1 2015 are also positive. The installers in the UK have one of the best filled order books of all investigated European countries.
Germany: economy and installation sector are slowing down
Whereas the UK shows signs of steady growth, the German economy and installation sector showed signs of slowing down. Only in the last quarter of 2014 did the turnover of the German installers increase. So despite the relatively moderate start of the winter season, the last quarter of 2014 has been more beneficial than the same period in 2013. The expectations of the German installers for Q1 2015, however, are not that positive. They are also the professionals with the lowest average order book duration
France: negative turnover development and short order books
While the other countries investigated reported an increase in the turnover, the French installers were having difficult times, throughout 2014 more of them were indicating a decreasing turnover. While for the other countries Q4 2014 was a better quarter, this is not true for the French installation companies. The expectations do not seem very bright for the French installation sector in Q1 2015 as well. The companies have the second lowest order book
Poland: turnover and order books decrease
Although more installers in Poland saw an increase in turnover in Q1 and Q2 of 2014 a sharp decrease occurred in Q3 2014. Q4 2014 was more positive for the Polish installers and so are the expectations for Q1 2015. The order books of the Polish installers is the best filled of all countries. Small companies seem to have the hardest times in Poland. Results show that when the company size increases, both turnover and order book results become more positive. This is not true for the rest of the countries where the larger companies suffer from decreasing turnovers as well.
Belgium: improvements in turnover
Since Q2 2014, the situation among the Belgian installers has been improving with every quarter. Q4 2014 shows the most positive turnover results in Belgium so far, with more installers reporting an increase than a decrease in their turnover. The expectations for Q1 2015 are even more positive.
The Netherlands: improvements in turnover and order books
In the Netherlands, Q1 and Q2 2014 showed a similar number of installers were experiencing increasing and decreasing turnover. Q3 however, clearly showed an improvement as more companies saw increasing than decreasing turnovers.These positive results continued in Q4 2014 as well. The outlook for Q1 2015 is positive for the Dutch installers.
These are some of the results from the Q4 report of the European Mechanical Installation Monitor. The survey is conducted on a quarterly basis among 1,200 HVAC installation companies in 6 European countries. For more information, please visit our website our contact me directly at hoogenboom(at)usp-mc.nl
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