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Heijmans: positive operating results and substantial write-downs


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Copyright © Thomson Reuters 2013. All rights reserved.
2013-02-28 07:26:26 -

Positive underlying operating profit 2012 of € 27 million

Key developments

  * Positive underlying operating result of € 27 million, compared with € 32
    million in 2011, good results in Infra in the Netherlands, Belgium and
    Germany, negative result at Non-Residential;

  * Full-year 2012 net loss of € 89 million, largely due to € 60 million write-
    down on intangible assets, reorganisation costs of € 29 million and value
    adjustments of property assets of € 35 million;

  * House sales continue to fall: 1,081 homes sold in 2012, compared with 1,248
    in 2011;

  * Solvency remains solid at 28%;

  * Order 
book at year-end 2012 down at € 2.0 billion, from € 2.2 billion at year end 2011; * Proposed dividend for 2012 of € 0.25 per share, compared with € 0.35 in 2011. Bert van der Els, Chairman of the Heijmans Executive Board: "The positive operating results and the company's financial health give us confidence for the future. The situation in the housing market remains dramatic and this has led to write-downs on our property holdings and a reorganisation at Residential Building. At the same time, the measures we have taken at Non- Residential have not yet yielded visible results. Roads and Civil Engineering, both in the Netherlands and abroad, performed well overall, partly on the back of innovations and new forms of contract. The National Military Museum in Soesterberg, the Energiefabriek in Tilburg and the Smart Highway signal a new and distinctive signature in these difficult times." Heijmans press release 2012: hugin.info/130707/R/1681874/549982.pdf 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#1681874]


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