Highlights:
- Total revenue at similar level to Q1 2022: revenue up at Infra and Building & Technology, revenue down at Property Development, in line with previously issued forecast.
- Q1 outlook in line with previously issued forecast for revenue and EBITDA in 2023.
- Order book stable at € 2.4 billion compared with year-end 2022.
- 472 homes sold through April 2023 (631 in the same period of 2022).
Ton Hillen, Heijmans CEO:
“On 3 April, we and almost 5,000 colleagues celebrated Heijmans 100th anniversary that day. I would like to thank our clients, suppliers, financiers, but above all our employees for their valuable contribution to this memorable success. The company is in great shape. That gives us confidence in the future.
In the first quarter, our sales volume of new-build homes was lower than in the same period last year. Encouragingly, compared with the second half of last year, the number of home sales and the prices of new-build homes we sold remained stable. On average, new-build homes are more energy-efficient and sustainable than existing homes. And scarcity in the housing market will not disappear anytime soon. Based on all these factors, I remain confident about the new-build market in the medium term.
In line with expectations, Heijmans saw its revenue and operating result increase in the Infra and Building & Technology business areas. I expect the government’s decision to release infrastructure funds for replacement and renovation works to make a positive contribution to maintaining market volume in the infrastructure sector in the coming period.
Cost inflation seems to be past its worst peak. That said, there is still a great deal of uncertainty about geopolitical developments and macro-economic factors, such as mortgage rates and labour market tightness. One of the critical success factors on this front is whether the ongoing political-administrative impasse around nature and nitrogen permits will be broken quickly and decisively, both at the national and provincial levels. It is five past twelve in that respect. We can no longer undo the damage delays have inflicted on the economy and the housing market in the coming years, only limit it. We continue to think along and cooperate with our partners in the chain to play our part in this.
If I add up the performance of all business areas, I see increasing revenue at Infra and Building & Technology and a decline at Property development activities in line with the market. All of this, combined with our well-filled order book, gives us confidence in our previously issued outlook for 2023.
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