PERFORMANCE ASSESSMENT · MODULAR & OFFSITE MANUFACTURING
The Winners & Losers Modular Construction Framework
Same market, same shocks. Why do some modular manufacturers protect margin and cash — while others fail?
Developed by Vietti Advisory from six years of audited accounts across Europe, the Winners & Losers Framework is the benchmark at the core of how we assess company performance. It has already shaped the advice we give to manufacturers, investors and buyers.
123
manufacturers mapped
12
European countries
6 years
of audited accounts, 2019–2024 (when available)
13
failed manufacturers analysed in depth
4+
companies advised on the basis of the framework
WHAT WE MEASURE
Four dimensions of performance, read across three lenses.
Growth
Revenue growth, year on year and over the cycle
Scale
Revenue and market position against peers
Performance
EBIT margin, EBITDA and net profit margin
Financial health
Debt-to-equity, leverage ratio and equity ratio
CROSS-ANALYSED BY
BUSINESS MODEL
Sales - Rental & Sales - Rental
TARGET MARKET
Residential - Commercial - Healthcare - Mixed
REGION
12 countries, from the UK and the Nordics to CEE
THE ROADMAP OF FAILURE
We read the administration reports so you don't repeat the mistakes.
European modular manufacturers that went into administration or closed their factories, analysed through administrators' reports, filings and public records — together accounting for more than £1bn of value lost.
13
WHAT THE ANALYSIS SEPARATES
EXTERNAL SHOCKS
that hit every manufacturer alike
INTERNAL DECISIONS
that turned those shocks into collapse
SIX RECURRING FAILURE PATTERNS
now part of every assessment we run
Benchmark your offsite company
Already applied in our advisory work with our clients.
MANUFACTURERS
Where you stand, and which lever to pull.
INVESTORS
Red flags before due diligence.
BUYERS
Suppliers pre-vetted on financial health.