• Order book at end of 2009 up by 5% to over 4.7 billion euro, a good starting position for 2010
• Despite challenging market conditions 2009 again is an excellent year for Imtech: EBITA up by 20% of which 7% organic
• Operational EBITA margin up from 5.5% to 5.8%
• Long-term targets maintained: revenue of 5 billion euro in 2012, while maintaining the target of an operational EBITA margin of 6%
• Outlook 2010: a further increase of EBITA through organic growth and acquisitions

CEO René van der Bruggen: ‘The focus remains on growth’
‘2009 was again an excellent year for Imtech’, says René van der Bruggen, CEO of technical services provider Imtech. ‘The order book grew by 5% to over 4.7 billion euro – while the quality remained stable. This gives us a good starting point for 2010. The EBITA rose by 20%, of which 7% was organic. Earnings per share before amortisation rose by 17%. The dividend proposed rises by 8% to 0.64 euro per ordinary share. The operational EBITA margin rose yet again: from 5.1% in 2007 and 5.5% in 2008 to 5.8% in 2009. Revenue rose by 12% to over 4.3 billion euro, of which 3% was organic and net profit rose by 11%. Despite market conditions being challenging as a result of the economic crisis, Imtech performed extremely well in 2009.’

‘Imtech’s differentiating proposition – technical total solutions through the combination of electrical engineering, ICT (information and communication technology) and mechanical engineering – once again demonstrated its strength. It meant Imtech could make the most of the, still growing, demand for integrated total solutions in Europe and in the global marine market. All the clusters made a contribution towards the result. The Germany & Eastern Europe cluster performed exceptionally well achieving a high organic EBITA growth of 36% and raising its EBITA margin from 5.7% to 7.3%. An important driver for Imtech’s growth is its strong position in the growth segment of ‘energy & environment’ (energy, water, environment and fine particles) with a sharp increase in the demand for ‘green’ technology. Other drivers are the Imtech business model in which around 55% of the activities are recurring (partly thanks to the thousands of maintenance contracts) and a broad portfolio with strong market positions (with approx. 20,000 customers) in Europe and the global marine market. Imtech’s financial position is very solid and Imtech is also noticing the first tentative signs of a recovery in several market segments.’

‘Imtech performed well in 2009, but that does not mean we didn’t experience the negative effects of the economic crisis. The difficult financial position in which some customers found themselves led to projects being deferred or delayed and competition increased. Imtech has, however, proved it has enough resilience to grasp opportunities and withstand threats. Bolstered by its successful strategy and ‘track record’ of robust growth in recent years Imtech has faith in its own strength. Imtech is, and will remain, well balanced. The focus, even in the current market situation, remains on growth.’

‘This is why Imtech has not changed its strategic goals – a revenue target of 5 billion euro in 2012, while maintaining an operational EBITA margin target of 6%. According to current views, in 2010 Imtech will achieve a further increase of its EBITA through organic growth and acquisitions.’

Read more:
Complete press release full year figures 2009 (pdf)
Annual report 2009 (pdf)