Grontmij: Financial results in line with earlier announced preliminary figures new management announces 'Back on Track' strategy for 2012 - 2015 together with comprehensive financial solution
(Thomson Reuters ONE) -
De Bilt, 9 March 2012 - Grontmij N.V. today reports its full year 2011 results
in line with preliminary figures announced on 20 February 2012 and presents the
outcomes of the extensive strategic and financial review that has taken place in
the last months.
Key points full year 2011:
- Total revenue 1) up by 11% to ? 933.5 million (2010: ? 841.3 million), with
organic decline of 1.3%
- Underlying EBITA 2)down by 30% to ? 25.0 million (2010: ? 35.6 million), with
an EBITA margin of 2.7% (2010: 4.2%): on a comparable basis, underlying EBITA in
2011 is ? 32.7 million (2010: ? 40.5 million)
- Net loss for the full year of - ? 55.9 million (2010: net profit ? 17.3
million)
- New CEO and CFO joined in December 2011 and have been nominated for
appointment as chairman and member of the Executive Board as per 9 March 2012
- New strategy for 2012 - 2015 with 2 primary pillars: restructuring and
realising profitable organic growth (see separate press release published on 9
March 2012)
- Comprehensive financial solution involves a new debt facility and a rights
offering (see separate press release published on 9 March 2012)
Michiel Jaski, CEO Grontmij N.V: '2011 has turned out to be a very disappointing
year for Grontmij with a significant net loss for the full year. We have taken
firm actions and 2012 will become a year of restructuring for Grontmij. By
rebalancing both our operations and our financial household we aim to position
Grontmij in the best possible way to achieve profitable organic growth in the
years to come. Although there is no quick fix to the challenges Grontmij is
facing, we are convinced we have the right strategy to recapture shareholder
value and bring Grontmij 'back on track'. Our long term prospects are positive,
based on strong and successful customer relationships, a community of dedicated
professionals working for Grontmij and expected above average growth in our core
markets for sustainable design and management consultancy in Europe.'
1) Excluding revenues of Telecom division sold on 18 October 2011
2) Excluding non-recurring costs, impairment losses and results from EAI
To our website for the full press release
Financial press release:
http://hugin.info/143540/R/1592723/500954.pdf
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: GRONTMIJ N.V. via Thomson Reuters ONE
[HUG#1592723]
Unternehmensinformation / Kurzprofil:
Datum: 09.03.2012 - 06:35 Uhr
Sprache: Deutsch
News-ID 123208
Anzahl Zeichen: 3062
contact information:
Town:
DE BILT
Kategorie:
Business News
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