Heijmans continues improvement in first half of 2018
- Turnover increased to € 780 million in first half of 2018 (first half 2017: € 646 million);
- Underlying EBITDA improves in first half: € 20 million (first half 2017: € 9 million), strongest growth in the property development and residential building activities;
- Number of homes sold in line with last year: 1,065 homes sold in the first half of 2018 (1,106 homes in the first half of 2017);
- Net profit after tax € 8 million positive (first half of 2017: loss of € 9 million from continued operations, excluding proceeds from sales of foreign activities);
- Order book increases to € 2.2 billion at end-June 2018 (year-end 2017: € 1.9 billion);
- Net debt further decreased to € 14 million at end-June 2018 (end-June 2017: € 45 million).
Ton Hillen, Chairman of the Executive Board /CEO Heijmans:
'By continuing the positive start to this year over the past few months, we delivered a solid performance in the first half of 2018. The housing market promises a great deal of potential for Heijmans. Despite increased purchase prices, we managed to improve the margin in our property development and residential building activities. Our non-residential building activities developed in line with our plans and are growing again, including our project business. We are seeing a controlled progression at Infra and we will continue to work on improving predictability. The Arbitration Board for the Building Industry has now rendered a final judgement in the case related to the Wilhelmina lock project in Zaandam. Heijmans booked an additional € 5 million loss on this project, but remains within the previously defined bandwidth. We are now discussing with the client to arrive at well-balanced agreements. In the spring of this year, we renewed our financing agreements with our banks, which resulted in an extension to 1 July 2022 under improved terms.'
Heijmans is a listed company that combines activities related to property development, building & technology, roads and civil engineering in the areas living, working and connecting. Our constant focus on quality improvements, innovation and integrated solutions enables us to generate added value for our clients. Heijmans realises projects for private consumers, companies and public sector bodies, and together we are building the spatial contours of tomorrow. You will find additional information at our website: www.heijmans.nl.
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