Heijmans records modest result in 2013 despite tough year

Capital position remains strong, solvency ratio at 29%

Key developments

Good results Roads and Civil in Belgium and Germany, considerable improvements in Non-residential, but decline in results Roads and Civil Netherlands. Property Development steady and modest loss at Residential Building; 

1,082 homes sold in 2013, compared with 1,081 in 2012, with an increase in the proportion of sales to private buyers over the course of the year; 

Revenues at € 2.1 billion, down almost 11% from € 2.3 billion in 2012;  

Net profit 2013 € 2 million, compared with a loss of € 88 million in 2012 given write-down on intangible assets, impairment on property assets and reorganisation charges; 

Underlying operating profit € 23 million, down from € 27 million in 2012; 

Solvency ratio 29%, from 28% in 2012;  

Order book at € 1.7 billion per year-end 2013, down from € 1.9 billion at end-June 2013, with lower order intake at Roads and Civil;  

Proposed dividend per ordinary share of € 0.15 for 2013, compared with € 0.25 in 2012.  

Bert van der Els, chairman of Heijmans Executive Board:
"This past year was challenging. The market remains tough and we saw a decline in revenues in our property, residential building and infra activities. I am satisfied that our result has remained close to last years' level. Our Non-residential activities generate profit and our operations in Germany and Belgium are performing well. We devoted considerable attention to improving our performance in 2013, by focusing efforts on increasing the uniformity of processes and improving efficiency in tendering, project management and purchasing. One of our priorities in 2013 was the focus on our 'improve the core' programme as a strategic target and this will remain a priority in 2014. In addition to our Improvement drive, we are also focusing on Innovation. We are developing smart technological concepts that address social issues and we are successfully translating these into sustainable and viable solutions. Some strong examples of this are the Hydrea Thermpipe making it to the finals of the TEDxBinnenhof innovation event, the Dutch Design Award for the Dutch National Military Museum and the Accenture innovation award for Smart Highway. Collaborating with parties that share our innovative drive is vital in order to move ahead, not only for Heijmans, but for the entire construction sector. With that in mind, in early 2014 we teamed up with the public sector and corporate and science sectors to launch the SPARK campus initiative: the first cross-over for innovation and technology in the Dutch construction sector."  

About Heijmans
Heijmans is a listed company that combines activities related to property development, residential building, non-residential building, technical services and infrastructure. Heijmans is active in the Netherlands, Belgium and Germany. Our focus on quality improvements, integrated projects, sustainability and profitability enables us to provide added value for our customers. Heijmans realises integrated projects for residential consumers, companies and public sector bodies. With approximately 7,400 employees and € 2.1 billion in revenues in 2013, we are building the spatial contours of tomorrow. You can find the annual report, CSR report and innovation report for 2013 on our website www.heijmansjaaroverzicht.nl.

For more information:
Media:
Lonneke Wijnhoven
+31 73 543 52 17
lwijnhoven@heijmans.nl

Analysts:
Frank Heerens
+31 73 543 52 17
fheerens@heijmans.nl