Royal Imtech publishes first quarter 2015 results
(Thomson Reuters ONE) -
Significant reduction in net loss
* Order intake in Q1 at a satisfactorily level of ?912 million
* Revenue 3% down excluding Germany & Eastern Europe
* Revenue in Germany & Eastern Europe develops as expected
* Operational EBITDA loss unchanged at ?11 million
* Gross margin not satisfactory, down ?17 million
* Indirect costs moving towards target, savings of ?17 million
* Net finance result in the quarter significantly reduced to ?14 million
* Net loss in Q1 improved to ?49 million from ?77 million loss in 2014
* Operational working capital developed favourably to ?34 million negative and
at -0.9% of revenue
* Net debt during the quarter increased to ?416 million reflecting normal
seasonal pattern
Key figures
in ? million, unless otherwise indicated Q1 2015 Q1 2014
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Revenue and other income 873.1 985.1
Gross margin 136.1 153.1
Indirect costs -147.1 -164.4
Operational EBITDA -11.0 -11.3
Non-operational costs -10.5 -8.0
Operating result (EBIT) -33.4 -32.9
Net result -49.0 -77.3
Order intake 912.2 1,010.5
Operational working capital -33.9 -4.2
Net interest-bearing debt 416.0 894.7
Margins
Gross margin 15.6% 15.5%
Indirect costs -16.8% -16.6%
Operational EBITDA margin -1.2% -1.1%
Number of employees (in FTE, at end of period) 21,659 23,656
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Unaudited figures
Gerard van de Aast, CEO: "Imtech has delivered a quarter in which 3 out of the
4 key operational improvement indicators showed satisfactory progress. Order
intake and working capital are at or better than target and indirect costs are
coming down and moving towards their target. Our gross margin needs to improve.
Key to gross margin improvement is a step up in project execution which is a
focus area for the company. With satisfactory progress on 3 out of the 4 key
performance indicators we are improving our operational performance but there is
still more work to do. For the full year, we confirm our outlook of a positive
operational EBITDA."
Financial calendar 2015
* 25 August 2015: second quarter and half year results 2015
* 17 November 2015: third quarter results 2015
Press conference
Today at 9.00 hours (CET) Imtech will organise a conference call for media.
Analyst meeting
Today at 10.00 hours (CET) Imtech will organise a conference call for sell-side
analysts. Dial-in details are +31 (0)20 717 6868, pin code 60348142#. This call
will be transmitted live via the internet (www.imtech.com) and will afterwards
also be available on the website as a replay.
More information
Media: Analysts & investors:
Dorien Wietsma Jeroen Leenaers
Director Corporate Communication & CSR Director Investor Relations
T: +31 182 54 35 53 T: +31 182 54 35 04
E: dorien.wietsma(at)imtech.com E: jeroen.leenaers(at)imtech.com
www.imtech.com www.imtech.com
Imtech profile
Royal Imtech N.V. is a European technical services provider in the fields of
electrical solutions, automation and mechanical solutions. With approximately
22,000 employees, Imtech holds attractive positions in the buildings and
industry markets in the Netherlands, Belgium, Luxembourg, Germany, Eastern
Europe, Sweden, Norway, Finland, the UK, Ireland and Spain, the European market
of Traffic as well as in the global marine market. Imtech offers integrated and
multidisciplinary total solutions that lead to better business processes and
more efficiency for customers and the customers they, in their turn, serve.
Imtech also offers solutions that contribute towards a sustainable society - for
example, in the areas of energy, the environment, water and traffic. Imtech
shares are listed on Euronext Amsterdam.
Pdf: Full press release incl. appendix:
http://hugin.info/130755/R/1920671/688128.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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: Imtech via GlobeNewswire
[HUG#1920671]
Unternehmensinformation / Kurzprofil:
Datum: 12.05.2015 - 06:59 Uhr
Sprache: Deutsch
News-ID 392402
Anzahl Zeichen: 5692
contact information:
Town:
Gouda
Kategorie:
Business News
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