Royal Imtech publishes first quarter 2014 results
May 15 2014 - 1:01AM
Stable market positions in
the quarter; debt reduction program in progress
· Revenue in the first quarter of 1,120 million euro
· Operational EBITDA in the first quarter of 6 million euro
negative (Q1 2013: -15 million euro)
· Order intake in the first quarter 1,137 million euro, slightly
higher than revenue
· Net loss in the first quarter 77 million euro significantly
impacted by finance costs
· Net debt end of first quarter 895 million euro
· Update on financial restructuring costs
Key figures |
|
|
|
|
|
|
|
in € million, unless otherwise indicated |
Q1
2014 |
|
Q1
2013* |
Revenue and other income |
1,119.9 |
|
1,179.8 |
Operational EBITDA |
-5.9 |
|
-15.1 |
Non-operational costs |
-9.9 |
|
-12.0 |
EBITDA |
-15.8 |
|
-27.1 |
Operating result (EBIT) |
-33.5 |
|
-49.2 |
Result from continuing operations |
-77.3 |
|
-59.4 |
Net result |
-77.3 |
|
-59.6 |
Order intake |
1,136.7 |
|
1,181.0 |
Working capital |
78.3 |
|
464.8 |
Net interest-bearing debt |
894.7 |
|
1,220.7 |
|
|
|
|
Margins |
|
|
|
Operational EBITDA margin |
-0.5% |
|
-1.3% |
EBITDA margin |
-1.4% |
|
-2.3% |
|
|
|
|
Employees |
26,075 |
|
28,605 |
Unaudited figures |
|
|
|
* Restated
(based on continuing operations) |
|
|
|
Gerard van de Aast,
CEO: "Imtech's key focus continues to be on operational
and financial recovery. While the quarter showed mixed results by
region, operational EBITDA for the group showed an improvement.
Satisfactorily progress was also made on order intake and working
capital development for the group. In Germany the implementation of
the 'Neue Imtech'-program continued. While in Germany
satisfactorily progress was made on EBITDA, working capital
development needs improvement. The quality of our work continues to
be a main driver for customer satisfaction and customers rewarded
us across the group with good orders in 2014. Increased finance
costs were largely the reason for the net loss in the quarter. We
announced the first step of the debt reduction program through the
divestment of the ICT division and the divestment process is on
track. A significant debt reduction will benefit all stakeholders
given the expense associated with the current debt
level."
More information
Media: |
Analysts &
investors: |
Dorien Wietsma
Director Corporate Communication & CSR
T: +31 182 54 35 53
E: dorien.wietsma@imtech.com
www.imtech.com |
Jeroen Leenaers
Director Investor Relations
T: +31 182 54 35 04
E: jeroen.leenaers@imtech.com
www.imtech.com |
Imtech
profile
Royal Imtech N.V. is a European technical
services provider in the fields of electrical solutions, ICT and
mechanical solutions. With approximately 26,000 employees, Imtech
is active attractive positions in the buildings and industry
markets in the Netherlands, Belgium, Luxembourg, Germany, Austria,
Eastern Europe, Sweden, Norway, Finland, the UK, Ireland and Spain,
the European markets of ICT and Traffic as well as in the global
marine market. In total Imtech serves 24,000 customers. Imtech
offers integrated and multidisciplinary total solutions that lead
to better business processes and more efficiency for customers and
the customers they, in their turn, serve. Imtech also offers
solutions that contribute towards a sustainable society - for
example, in the areas of energy, the environment, water and
traffic. Imtech shares are listed on the NYSE Euronext
Amsterdam.
PDF: Press Release incl.
appendix
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information contained therein.
Source: Imtech via Globenewswire
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