Imtech’s growth continues: EBITA +6%, net profit +11%, order book +8%

August 3 2010

 

HY 2010

HY 2009

Growth

 

Revenue (in millions)

2,025

2,022

    0%

 

EBITA (in millions)

107.5

101.8

+  6%

(organic 5%)

EBIT (in millions)

96.0

91.7

+  5%

 

Net profit (in millions)

57.0

51.5

+11%

 

Profit per share (before amortisation)

0.88

0.80

+10%

 

Operational EBITA margin

5.7%

5.4%

 

 

Order book (in millions)

5,171

4,809

+  8%

 

Number of employees (on 30 June)

22,684

22,747

    0%

 

 

  • Organic EBITA growth of 5% and an order book worth 5.2 billion euro (+8%) instil confidence for the second half of 2010
  • Imtech excels in the European energy and environment markets and achieves an excellent performance in Germany & Eastern-Europe and in the Nordic region
  • The Nordic region: a large acquisition strengthens the foundations for a strong market position
  • Maintaining the outlook for the whole of 2010: a further EBITA increase through organic growth and acquisitions
  • Maintaining long-term growth targets: a revenue level of 5 billion euro in 2012, while maintaining the target of achieving an operational EBITA margin of 6%

René van der Bruggen, CEO of the European technical services provider Imtech N.V.: ‘Imtech can look back on a good first half of 2010. The overall EBITA growth is 6% and organic EBITA growth amounts to 5%. Net profit is up by 11%. This is an excellent performance, especially as the market conditions in many countries and markets remained challenging. Imtech performs excellent in Germany & Eastern-Europe and in the Nordic region. Imtech also achieves a solid performance in the UK, Ireland and Spain, despite difficult market conditions. In the Benelux, however, the results fell back. Growth is achieved in the European ICT market and the European traffic market. In contrast there is a slow-down in the order intake on the global marine market.’

‘Imtech stands out by achieving an excellent performance in the European energy and environment markets where it is one of the front-runners. Partly thanks to this the order book, for the first time, passes the 5 billion euro milestone and amounts to 5.2 million euro – an increase of 8%. The quality of this order book is nearly comparable to that of last year. This is indicative of Imtech’s strength and instils confidence for the second half of 2010. At the same time, thanks to a large acquisition in Sweden (nearly 2,200 employees, revenue of around 2.5 billion Swedish Kroner, consolidated as of July 2010) the foundations have been strengthened for the structural development of a strong market position in the Nordic region (Sweden, Norway and Finland). This also instils confidence in the company’s future growth.’

‘For the whole year 2010 - as stated earlier - Imtech expects further EBITA increase through organic growth and acquisitions. Imtech is also maintaining its long-term target of achieving a revenue of 5 billion euro in 2012, while maintaining an operational EBITA margin target of 6%. Meanwhile Imtech started the update for its strategic plan 2010 - 2015.’

Read more: Complete press release Half-Year Results 2010 (pdf)