AMSTERDAM--(BUSINESS WIRE)--In his letter to stakeholders, Bob Fast, CEO, emphasizes a year of transformation and integration in which we managed to leverage our scale to improve EBITDA and strong operating profit:
“2020 was a year of extraordinary circumstances. As the corona virus continued to take hold on societies across the globe, our employees, our families, and our communities faced unprecedented challenges and changes.
Despite these unparalleled times, we grew together as a TIP family and forged even stronger relationships with our customers and suppliers. At the end of 2019, we invited PEMA and Trailer Wizards to join our journey, and consequently 2020 turned into the year of transformation and integration.
In this unique environment, we grew our revenue by 46% to €914m. In addition, we successfully leveraged our scale to improve our EBITDA margin from 30% in 2014 to 43% in 2020, and achieved a strong operating profit.”
The full TIP annual report is available at:
Headquartered in Amsterdam, TIP is one of the leading providers of both equipment and services within Europe and Canada. Located in 18 countries, and offering 129 service locations, TIP specialises in providing the transportation and logistics sector with leasing, rental, maintenance, and repairs through a wide selection of equipment.
For more information, please visit: https://www.tipeurope.com