HEIJMANS : Trading Update: lower revenues due to frost in 1st quarter; order book is good
05/10/2012| 01:40am US/Eastern
Update on Business Developments
- Revenue in the first quarter of 2012 declined slightly in comparison to the same period in 2011, primarily due to a period of frost;
- The residential market deteriorated further; 187 homes sold in the first four months of the year;
- Order book at € 2.2 billion as at the end of March 2012 is stable and of high quality; the number of integral orders is increasing;
- Underlying operating result to be close to break even in first half year; positive in second half based on annual seasonal patterns.
Bert van der Els, Chairman of the Heijmans Executive Board:
"Due to the period of frost in February, production in 2012 was off to a slow start. There is a great deal of attention in the organisation to improving the performance in the Non-residential segment after the disappointing results in the second half of last year. Improvements are gradually becoming evident. It is difficult this year to look ahead to the rest of the year on the basis of the first quarter. On the one hand we are satisfied with our order book and we are carrying out the plans we made for 2012 in all sectors. On the other hand, the economic situation in the Netherlands and the situation on the residential market in particular are subject to a great deal of uncertainty. As a result, the underlying operating result in the first half of the year will be close to break even and given normal seasonal patterns will be positive in the second half of the year.
Heijmans will develop further as an added-value player and will differentiate itself in terms of quality, sustainability and its integral approach, in the areas of design and implementation, as well as maintenance and management. Our ability to acquire projects such as the Soesterberg National Military Museum PPP demonstrates that our customers appreciate this. We want to develop in the direction of 'smart' solutions, especially in the area of energy and mobility. The recently acquired contract for the design, construction and maintenance of the Energy Factory in Tilburg is a good example of this."
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Source: Heijmans NV via Thomson Reuters ONE