Trading update Heijmans: modest start of the year due to extended period of frost, order portfolio stable
(Thomson Reuters ONE) -
Update key developments
· Turnover in the first quarter of 2013 was down compared with the same
period of 2012 due to an extended period of frost and low activity in infra and
housing market;
· Housing market continues to decline; 60 houses sold to private
individuals through April of this year, no transactions with investors;
· Order portfolio stable at ? 2 billion at the end of March 2013;
· Underlying operating result around breakeven in first half of the year,
second half positive according to annual seasonal pattern.
Bert van der Els, Chairman of the Executive Board of Heijmans:
'We have yet to reach rock bottom in the building sector; the market is still
declining, especially in the housing market. This combined with the extended
period of frost in the first quarter of the year resulted in reduced turnover
and a lower profit compared to the first months of 2012. We are fully alert to
opportunities and ready to change gear rapidly, both in a negative sense if
there is a further decline in the market and in a positive sense to make the
most of opportunities that may arise in this market. The inner-city
redevelopment of Vlaardingen, the Wilhemina locks in Zaandam and the
Drachtsterweg road in Leeuwarden are perfect examples of this ability to respond
quickly and effectively.'
Key operating developments in the first quarter of 2013
The extended period of frost, a reduced level of activities in the Infra (Roads
and Civil Engineering) segment in the Netherlands and the poor turnover
development in the Residential segment led to a lower operating result than in
the same period of 2012. While the order book at Property Development and
Residential Building continued to decline, the order portfolio for the group as
a whole remained stable at around ? 2 billion.
The housing market continues to drop and we therefore saw a decline in turnover
at Property Development and Residential Building. There were no transactions
with investors in these past few months. Heijmans continues to focus on its
strength as an inner-city area developer. One example is the contract Heijmans
signed with the Vlaardingen municipality for the development of Buizengat-Oost.
Non-residential recorded a small drop in turnover compared to the same period of
last year. The focus remains on improving the quality of the management of the
organisation and project execution. In the early part of this year, Non-
residential acquired a contract for the new construction of premises for
Solliance (a collaboration between six parties, including applied science
research centre TNO and the Technical University Eindhoven), and the renovation
of Gebouw 48, both of which are on the Hightech Campus in Eindhoven. The work on
the National Military Museum in Soesterberg and the Timmerhuis in Rotterdam
began as scheduled in January and April respectively. The construction of new
premises for the Royal Marechaussee at Schiphol Airport and the Orion education
building at Wageningen University have been completed.
Turnover and profit at Infra (Roads and Civil Engineering) were down compared to
the same period of 2012. Heijmans acquired contracts for the renovation of the
Wilhelmina locks in Zaandam and the reconstruction of the Drachtsterweg in
Leeuwarden in the first quarter of the year. Major projects such as the A4
Delft-Schiedam motorway, the Den Bosch railway project and the Bilthoven rail
underpass reached important milestones on the road to completion in the period
under review.
In Belgium and Germany, turnover fell in the first quarter of the year. In
Belgium, we acquired a contract for the construction of the tunnel-related
installations for the Liefkenshoek rail junction near Antwerp.
The organisational changes we are implementing at Residential Building and the
more modest changes at Non-Residential and Infra are progressing as planned. In
the first quarter, the number of FTEs dropped by around 100 compared with year-
end 2012. In view of the situation in the Dutch market, Heijmans will continue
to respond to developments, in the housing market in particular.
The average net debt was higher at the end of March 2013 compared to a year
earlier. It is normal for the net debt to rise in the course of the year.
Heijmans is experiencing increasing pressure on its working capital from the
construction chain.
Results first half 2013
Heijmans will publish its first-half 2013 results on 21 August 2013 prior to the
start of trading.
About Heijmans
Heijmans is a listed company that combines activities related to property
development, residential building, non-residentialand infrastructure. Heijmans
operates in the Netherlands, Belgium and Germany. Our focus on quality
improvements, integrated projects, sustainability and profitability allows
Heijmans to provide added value for our customers. Heijmans realises integrated
projects for residential consumers, companies and government bodies. With around
8,000 employees and ? 2.3 billion in turnover in 2012, we are building
the spatial skylines of tomorrow. For more information, visit www.heijmans.nl
for more information:
Press:
Lonneke Wijnhoven
+31 73 543 52 17
lwijnhoven(at)heijmans.nl
Analysts:
Frank Heerens
+31 73 543 52 17
fheerens(at)heijmans.nl
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(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: Heijmans NV via Thomson Reuters ONE
[HUG#1700241]
Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: hugin
" alt="Preliminary Economic Assessment filed on SEDAR for Colt’s 100% Boa Fé and Montemor Projects, Southern PortugalDatum: 08.05.2013 - 07:31 Uhr
Sprache: Deutsch
News-ID 257373
Anzahl Zeichen: 6423
contact information:
Town:
Rosmalen
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 183 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Trading update Heijmans: modest start of the year due to extended period of frost, order portfolio stable"
steht unter der journalistisch-redaktionellen Verantwortung von
Heijmans NV (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
