Trading update Royal Imtech
July 31 2014 - 1:31AM
Royal Imtech provides a trading
update ahead of its half year results announcement on August 26th,
2014.
Operational performance for the total group on order intake,
revenue and operational EBITDA margin in the second quarter of 2014
came in at approximately similar levels as the first quarter
2014.
Net debt at the end of June 2014 was approximately 1,040 million
euro of which 43 million euro is non cash and relates to the
earlier announced financing arrangement.
As previously announced, significant debt reduction is a key
priority for Imtech which all stakeholders will benefit from given
the expense associated with the current debt level. Imtech will
continue to review all options to achieve such significant debt
reduction. As part of this programme, Imtech has initiated
discussions with its financiers regarding an amendment of its
finance agreements including financial covenants. A further update
will be provided with the announcement of the half year
results.
The sale process of the ICT division is well on track. Imtech
expects to announce the outcome in the third quarter of 2014. The
proceeds of the divestment will be used to reduce debt.
The legally required waiting period for the decrease of the nominal
value of the shares ended on July 28th, 2014 with no objections. As
a result the company can decrease the nominal value of its shares.
Such a decrease of the nominal value of the shares does not have an
impact on the value of shareholders equity.
KPMG will review Imtech's first half year results 2014 with
publication thereof scheduled on August 26th, 2014.
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
has 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
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Imtech via Globenewswire
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