Heijmans: positive operating results and substantial write-downs

February 28, 2013

Key developments

  • Positive underlying operating result of € 27 million, compared with € 32 million in 2011, good results in Infra in the Netherlands, Belgium and Germany, negative result at Non-Residential;
  • Full-year 2012 net loss of € 89 million, largely due to € 60 million write-down on intangible assets, reorganisation costs of € 29 million and value adjustments of property assets of € 35 million;
  • House sales continue to fall: 1,081 homes sold in 2012, compared with 1,248 in 2011;
  • Solvency remains solid at 28%;
  • Order book at year-end 2012 down at € 2.0 billion, from € 2.2 billion at year end 2011;
  • Proposed dividend for 2012 of € 0.25 per share, compared with € 0.35 in 2011.

Bert van der Els, Chairman of the Heijmans eijmans Executive Board:

“The positive operating results and the company’s financial health give us confidence for the future. The situation in the housing market remains dramatic and this has led to write-downs on our property holdings and a reorganisation at Residential Building. At the same time, the measures we have taken at Non-Residential have not yet yielded visible results.

Roads and Civil Engineering, both in the Netherlands and abroad, performed well overall, partly on the back of innovations and new forms of contract. The National Military Museum in Soesterberg, the Energiefabriek in Tilburg and the Smart Highway signal a new and distinctive signature in these difficult times.”

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