Full Year 2020 Performance: Resilient progress in a challenging environment
Our annual performance after an extraordinary year, that turned our world upside down and forced us to work from kitchens, living rooms and basements to serve our customers and run our business, remained robust and solid.
In this very challenging year, we have had good underlying business activities and stable income and we have made good progress on our digital transformation process, which speaks positively about the teamwork and the dedication from all colleagues. I want to thank my colleagues for leaning in and doing their utmost in a very difficult year. I am really proud of our organisation, and we are in a strong position to continue our commercial momentum and keep delivering value to all stakeholders.
Our strategy remains on track. In fact, the crisis has even accelerated our digital transformation and operational improvement drive. CCN Group with its well-diversified business portfolio and geographical spread has continued to successfully navigate through the current crisis and has achieved solid performance during 2020.
CCN Group overall performance amounted to an even +0,2 growth percent for the full year 2020, mostly driven by the Workers Compensation/Accident business segment, which saw an eminent growth compared with 2019. In our Motor business segment, our performance dropped, due to COVID-19-related effects. Operating performance from our Transport/Logistic business segment was resilient and decreased less due to economic circumstances. Our Travel business segment saw an improvement during the third quarter when travelling resumed, but was impacted due to continued travel restriction measures, during the fourth quarter, imposed by most countries worldwide.
During the second half of 2020 the performance growth improved and bucked the negative performance over the first half of 2020, showing the resilience in the different Lines of Business.
Especially our Scandinavian operation performance remained robust and recorded continues growth driven by increased activities during the second half of 2020.
“The pandemic continues to be a challenge for all industries. Nevertheless, CCN Group has achieved robust performance and shown a remarkable resilience during the whole year 2020.
2021 won’t be any less challenging, but on behalf of all my colleagues, I can say confidently that this crisis will only push us to work harder towards building a CCN Group that is ready for anything the future brings. The performance in 2020 makes us confident that we will see a stable performance also in 2021,” said Cees Werff, Chief Executive Officer of CCN Group.