Arcadis response to COVID-19
March 26 2020 - 2:00AM
Arcadis response to COVID-19
- Arcadis has taken measures to protect the health and
safety of employees and their families, clients and society and to
ensure business resiliency
- Arcadis stops the current share buy-back program and
withdraws the proposal for dividend payment to enhance its cash
position as a precautionary measure
- Arcadis closely monitors directions by the Dutch
government regarding COVID-19 impacting the AGM
Amsterdam, 26 March 2020 -
Arcadis (EURONEXT: ARCAD), the leading global Design &
Consultancy organization for natural and built assets is responding
to the consequences of the global COVID-19 pandemic.
First priority in dealing with the current
COVID-19 outbreak is to protect the health & safety of
employees and their families, clients and society. Significant
measures were taken to secure a thorough health approach, in line
with WHO recommendations and the guidance from government experts
in the various countries in which Arcadis operates. Employees are
equipped to maximize work from home, using digital collaboration
platforms and virtual channels.
Considering the unprecedented and rapidly
changing operating environment, Arcadis has also taken measures to
ensure business resiliency, guided by a global task force
established in early March, as well as regional and local teams of
subject matter experts. As a result, Arcadis is well prepared and
organized to continue delivering on its commitments to clients.
Operational performanceThe
impact of the COVID-19 outbreak was initially limited to the
Arcadis business in China and Hong Kong. Since the virus has now
spread around the world, it will adversely impact our markets and
it requires the additional measures we are taking. In identifying
and implementing the actions, Arcadis made a distinction between
immediate priorities, preparing for the crisis impact, and recovery
thereafter. The results of our actions will be impacted by the time
societies and governments need to contain this crisis, and on
support businesses will receive from governments.
Our primary focus is on continuing to serve our clients, win
projects where possible and apply commercial effectiveness to keep
our pipeline of orders filled.
To further ensure business resiliency, a large
number of measures have been taken to reduce cost, such as freezing
virtually all travel, reducing of external advisory services and
suspending all uncommitted capital expenditure. In addition, a full
hiring stop has been implemented for any new employees. Applying
for relevant government support in countries which provides for
this opportunity is being reviewed.
Solid financial position and good
liquidityThe focus of Arcadis in the last two years has
been on reducing debt and strengthening the balance sheet. The
strategy has resulted in a solid financial position and good
liquidity. In order to contain its cost and protect its cash
position, Arcadis has decided as a precautionary measure to stop
the current share buy-back program and to withdraw the dividend
proposal from the agenda for the Annual General Meeting as
scheduled for May 6th, 2020. Arcadis does understand the importance
of dividends for its shareholders but considers this decision to be
in the best interest of Arcadis, its people, its clients and its
shareholders. The adjusted agenda for the Annual General Meeting
can be found on the Arcadis website www.arcadis.com.
Where it comes to the Annual General Meeting
(AGM), Arcadis is aware of, and closely monitors regulations by the
Dutch government regarding COVID-19 and in particular in person
meetings. Arcadis may take further COVID-19 related decisions with
regard to the AGM. Arcadis suggests to regularly check its website
for any further updates.
Peter Oosterveer, CEO said:
“For all our employees and our customers everyday life and work has
been severely disrupted. The prosperity and safety of our societies
is being challenged and everyone realizes that it will take a
considerable amount of time and effort to allow us to resume ‘life
and business as usual’. We will all have to contribute to this
task. In the meantime, those who care for our health and our safety
deserve our unconditional support and respect. We are all
completely focused on the measures necessary to deal with the
current circumstances. We are a strong company, provide valuable
expertise and have an extremely dedicated team, and in joining
forces with our clients we will navigate through this period.
For further information please contact:Arcadis Investor
RelationsJurgen PullensMobile: +31 6 51599483E-mail:
jurgen.pullens@arcadis.com
Arcadis Group CommunicationsJoost SlootenMobile: +31 6 27061880
E-mail: joost.slooten@arcadis.com
About ArcadisArcadis is a leading global Design &
Consultancy organization for natural and built assets. Applying our
deep market sector insights and collective design, consultancy,
engineering, project and management services we work in partnership
with our clients to deliver exceptional and sustainable outcomes
throughout the lifecycle of their natural and built assets. We are
28,000 people, active in over 70 countries that generate €3.5
billion in revenues. We support UN-Habitat with knowledge
and expertise to improve the quality of life in rapidly
growing cities around the world. www.arcadis.com.
REGULATED INFORMATIONThis press release contains information
that qualifies or may qualify as inside information within the
meaning of Article 7(1) of the EU Market Abuse Regulation.
FORWARD LOOKING STATEMENTSStatements included in this press
release that are not historical facts (including any statements
concerning investment objectives, other plans and objectives of
management for future operations or economic performance, or
assumptions or forecasts related thereto) are forward-looking
statements. These statements are only predictions and are not
guarantees. Actual events or the results of our operations could
differ materially from those expressed or implied in the
forward-looking statements. Forward-looking statements are
typically identified by the use of terms such as “may,” “will”,
“should”, “expect”, “could”, “intend”, “plan”, “anticipate”,
“estimate”, “believe”, “continue”, “predict”, “potential” or the
negative of such terms and other comparable terminology. The
forward-looking statements are based upon our current expectations,
plans, estimates, assumptions and beliefs that involve numerous
risks and uncertainties. Assumptions relating to the
foregoing involve judgments with respect to, among other things,
future economic, competitive and market conditions and future
business decisions, all of which are difficult or impossible to
predict accurately and many of which are beyond our control.
Although we believe that the expectations reflected in such
forward-looking statements are based on reasonable assumptions, our
actual results and performance could differ materially from those
set forth in the forward-looking statements.
- Arcadis response to COVID-19
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