Heijmans posts modest result in difficult market, increases share capital by nearly 10%

August 21, 2013

Highlights

  • Underlying operating result positive at € 2 million; 
  • Turnover drops to € 929 million in first half, from €1,064 million in first half of 2012; 
  • Number of homes sold at 386, compared to 400 in the first half of 2012; number of homes sold to private buyers has increased;
  • Turnover and result Roads, Civil, Belgium and Germany stable – result Non-Residential positive, turnover of Property and Residential Building continue to decline;
  • Net loss of € 5 million amongst others due to reorganization costs;
  • Order book: € 1.9 billion as of 30 June 2013, from € 2 billion at year-end 2012; 
  • Net debt € 214 million at end-June 2013, versus € 234 million at end end-June 2012, solvency at 27%;
  • Heijmans to increase share capital by almost 10%; the offering is supported by major shareholders of Heijmans, of which a major shareholder, as well as the executive board, has committed to acquire shares in the offering.

Bert van der Els, chairman of the Heijmans Executive Board:

‘The market remains tough and challenging. The measures we have taken at Non-Residential are showing the first tentative signs of having a positive impact. Developments in Roads, Civil, Belgium and Germany were stable. However, Property and Residential continued to decline. The use of our innovative potential is the way to create added value. Our innovations, with Smart Highway as a key example, are attracting considerable international attention and we will continue to build on this in the coming period. We intend to increase our share capital by almost 10% to strengthen our balance sheet, but also to back-up corporate development and leverage on innovative potential. The offering is supported by major shareholders of Heijmans, of which a major shareholder, as well as the executive board, has committed to acquire shares in the offering.’

Download full press release