Koninklijke Heijmans N.v. · EURONEXT:HEIJM
Koninklijke Heijmans — FY2019 Earnings Presentation
27 slides from Koninklijke Heijmans's earnings presentation, Feb 20, 2020
Slide 1: Heijmans annual results 2019
Heijmans annual results 2019 20 FEBRUARY 2020
Slide 2: Strong rise in profit 2019, dividend pay-out resumed
Heijmans annual results 2019: strong rise in profit 2019, dividend pay-out resumed TON HILLEN, CEO HEIJMANS N.V. 2
Slide 3: Safety
Safety Trend of lost-time injuries (incl. subcontracting and restricted workday) Trend IF figure (own staff incl. hirers) Period 2015 – 2019 Number of injuries per month Injury Frequency (IF)* *IF- Injury Frequency = number of lost-time injuries in the last 12 months / number of hours worked in the
Slide 4: Highlights annual results
Highlights annual results • All business areas contribute to positive result; • Increase underlying EBITDA by 26% to € 54 million; • Net profit 50% higher at € 30 million in 2019 (2018: € 20 million); • Increase order book by more than € 100 million to € 2.1 billion; • Continued improvement balance
Slide 5: Key figures 2019
Key figures 2019 (x € 1 million) H2 2019 H2 2018 2019 2018 Revenues 870 799 1.600 1.579 Underlying EBITDA * 30 23 54 43 Result after tax 15 12 30 20 Earnings per share (in €) 0,69 0,57 1,40 0,96 Order book 2.124 2.014 2.124 2.014 Net debt (cash) excl. IFRS 16 -56 -31 -56 -31 Net debt (cash) incl. IF
Slide 6: Development per sector
heymans Development per sector
Slide 7: Property development: underlying EBITDA margin stable at lower revenues
Property development: underlying EBITDA margin stable at lower revenues in € mln. H2 2019 H2 2018 2019 2018 Revenues 254 258 459 503 Underlying EBITDA 15 15 26 28 Underlying EBITDA margin 5,9% 5,8% 5,7% 5,6% Order book 454 435 454 435 • Order book well stocked (end 2019 € 454 million); looking good
Slide 8: Creators of a healthy living environment - Fenix Lofts, Rotterdam
CREATORS OF A HEALTHY LIVING - ENVIRONMENT FENIX LOFTS, ROTTERDAM DE SCHOONE LEY, DEN HAAG
Slide 9: Building & Technology: strong performance, continued growth
Building & Technology: strong performance, continued growth in € mln. H2 2019 H2 2018 2019 2018 Revenues - Residential 223 227 447 440 Revenues - Non-Residential 204 150 370 286 Revenues - Building & Technology 427 377 817 726 Underlying EBITDA - Residential 6 5 12 11 Underlying EBITDA - Non-Residen
Slide 10: Creators of a healthy living environment - European Medicines Agency
CREATORS OF A HEALTHY LIVING ENVIRONMENT - EUROPEAN MEDICINES AGENCY (EMA) ANDERE FOTO VAN EMA EUROPEAN MEDICINES AGENCY, AMSTERDAM
Slide 11: Creators of a healthy living environment - Willemspoort North
CREATORS OF A HEALTHY LIVING ENVIRONMENT - WILLEMSPOORT NORTH, DEN BOSCH ANDERE FOTO VAN FENIX I WILLEMSPOORT NOORD, ‘S-HERTOGENBOSCH
Slide 12: Infra: balanced portfolio and increase in predictability
Infra: balanced portfolio and increase in predictability in € mln. H2 2019 H2 2018 2019 2018 Revenues 322 342 619 654 Underlying EBITDA 10 2 17 8 Underlying EBITDA margin 3,1% 0,6% 2,7% 1,2% Order book 791 766 791 766 • Improvement underlying EBITDA at lower revenue; • Evident focus on balanced orde
Slide 13: Creators of a healthy living environment - N279, A1 Apeldoorn-Azelo
BANDENSPANNINGSMETER N279 ANDERE FOTO >>>Bandenspanningsmeter Veghel CREATORS OF A HEALTHY LIVING ENVIRONMENT - A1 APELDOORN-AZELO MAIN CONTRACTS SCHIPHOL
Slide 14: Financial
heymans Financial
Slide 15: Income statement
H2 2019 H2 2018 2019 2019 2018 (x € 1 million) incl. IFRS 16 excl. IFRS 16 excl. IFRS 16 incl. IFRS 16 excl. IFRS 16 excl. IFRS 16 Income Revenues 870 870 799 1.600 1.600 1.579 Property development 15 15 15 26 26 28 statement Residential 9 6 5 18 12 11 Non-residential 6 5 5 12 9 5 Building & Technol
Slide 16: Cash flow, financing and dividend
Cash flow, financing and dividend • Positive cash flow in 2019 • substantial reduction interest expenses › Dividend review with cum pref holders effected early 2019 at decreased interest coupon › Reduction debt utilisation and improved margins • All important facilities committed to at least mid 202
Slide 17: Progress net debt reduction
Progress net debt reduction Size of syndicated loan versus average drawdowns syndicated loan 220 1. RCF from € 156 mln to € 144 mln 200 following refinancing May 2018 180 2. RCF from € 144 mln to € 121 mln in 160 October 2018, repayment KBC 140 3. Average net debt improved to € 122 120 1 3 mln (IFRS
Slide 18: Financial covenants
Amounts in € millions 2019 FY 2019 H1 2018 FY Reported Net debt 30,5 99,1 -30,7 Adjustments: Corrections IFRS 16 -86,6 -76,1 Net debt Joint Ventures 51,3 78,5 78,1 Net debt non recourse project financings -79,6 -90,5 -92,4 Cumulative preference shares B -45,1 -45,1 -45,1 Other 2,7 0,4 2,1 Net debt c
Slide 19: IFRS 16 impact on underlying EBITDA by segment
IFRS 16 impact on underlying EBITDA by segment 2019 Property Residential Non- Building & Infra Other/ in € mln. development residential Technology eliminations Total Revenues 459 447 370 817 619 -295 1.600 Underlying EBITDA (excl. IFRS 16) 26 12 9 21 17 -9 54 Underlying EBITDA marge (excl. IFRS 16)
Slide 20: Strategy and outlook
heymans Strategy and outlook 20
Slide 21: Creators of a healthy living environment
Creators of a healthy living environment 21
Slide 22: Progress made in 2019
Progress made in 2019 Better - Safety: start Leadership in safety - Improved risk management projects; increased predictability - Improvement quality organisation; engagement improved, sick leave decreased Smarter - Several new value added propositions realised and delivered: a.o. tyre pressure gaug
Slide 23: Tyre pressure gauge N279 - opening solar highways
CREATORS OF A HEALTHY LIVING ENVIRONMENT - TYRE PRESSURE GAUGE N279Afbeelding Bandenspanningsmeter N279 OPENING SOLAR HIGHWAYS
Slide 24: Steps for 2020
Steps for 2020 Better - Safety: Implementation GO compass, learning in value chain - Diversity policy: Attractiveness towards broader labour market & reflection of society/customers Smarter - Value creation strenghtened by data driven services - Smart City solutions in area developments a.o. Vijfslu
Slide 25: Outlook: structural profitability
Outlook: structural profitability • Expected revenue and underlying results comparable to level of 2019; • Well-stocked order book; • Faith in 2020; • In case of lagging tenders infra market; potential impact on infra activities towards 2021; • Long-term foundation looking positive. 25
Slide 26: Disclaimer
Disclaimer This presentation has been prepared by and is the responsibility of Heijmans N.V. This presentation is being supplied to you solely for your information and use at the presentation which will be or was held on February 21, 2019. The information may not be further di stributed or passed on
Slide 27: heijmansnl
heijmansnl @heijmansnl heijmans heijmansnl