Koninklijke Heijmans N.v. · EURONEXT:HEIJM
Koninklijke Heijmans — Heijmans — H1 2018 Earnings Presentation
22 slides from Koninklijke Heijmans's earnings presentation, Aug 15, 2018
Slide 1: Heijmans interim results 2018
Heijmans interim results 2018 15 AUGUST 2018 GAASPERDAMMERTUNNEL, A9 AMSTERDAM
Slide 2: Heijmans continues improvement in first half of 2018
Heijmans continues improvement in first half of 2018 TON HILLEN, CHAIRMAN EXECUTIVE BOARD HEIJMANS N.V. 2
Slide 3: Safety
Safety Trend number of lost-time injuries (incl. subcontracting and restricted workday cases) Trend IF figure (own staff incl. hirers) Period 2013 - 2017 20 10 18 8 16 14 6 12 10 4 8 6 2 4 2 0 2013 2014 2015 2016 2017 2018 0 2013 2014 2015 2016 2017 2018 Voortschrijdend IF Number of Injuries Injury
Slide 4: Highlights interim H1 results
Highlights interim H1 results • Revenues increased to € 780 million (H1 2017: € 646 million); strongest growth at property development and residential building activities • Underlying EBITDA improved: € 20 million (H1 2017: € 9 million), strongest growth at Property Development and Residential Build
Slide 5: Key figures H1 2018
Key figures H1 2018 x 1 € million H1 2018 H1 2017 2017 Revenues Netherlands 780 646 1.402 Underlying EBITDA Netherlands ** 20 9 30 Result after tax 8 20 20 Earnings per share (in €) 0,39 0,92 0,91 Order book Netherlands 2.203 2.121 1.898 Net debt 14 45 -14 Number of FTE Netherlands 4.485 4.501 4.442
Slide 6: Development per sector
heymans Development per sector
Slide 7: Property Development: healthy growth from strong market position
Property Development: healthy growth from strong market position Property development Variance x € 1 million H1 2018 H1 2017 2017 2018-2017 Revenues 245 186 391 32% Underlying EBITDA 13 8 20 Underlying EBITDA margin 5,3% 4,3% 5,1% Order book 451 305 420 • Confidence in housing market: positive devel
Slide 8: Land van Dico, Uden
LAND VAN DICO, UDEN
Slide 9: Building & Technology: on track with higher revenues and improved results
Building & Technology: on track with higher revenues and improved results Building & Technology Variance x € 1 million H1 2018 H1 2017 2017 2018-2017 Revenues - Residential 213 139 297 Revenues - Non-Residential 136 118 240 Revenues - Building & Technology 349 257 537 36% Underlying EBITDA - Residen
Slide 10: European Medicines Agency (EMA), Amsterdam
EUROPEAN MEDICINES AGENCY (EMA), AMSTERDAM
Slide 11: Infra: controlled progression
Infra: controlled progression Infra Variance x € 1 million H1 2018 H1 2017 2017 2018-2017 Revenues 312 301 680 4% Underlying EBITDA 6 1 16 Underlying EBITDA margin 1,9% 0,3% 2,4% Order book 953 987 814 • Focus remains on improving predictability in projects and achieving a healthy balance between la
Slide 12: Drinking water pipeline Loosbroek - Oss
DRINKING WATER PIPELINE LOOSBROEK - OSS
Slide 13: Financial
heymans Financial
Slide 14: Renewed financing agreements
Renewed financing agreements • Syndicated facility extended until 1 july 2022 • At Heijmans’ request total facility commitment reduced by € 12 million to € 144 million, to be gradually reduced to € 121 million until 30 June 2019 • Interest Cover Ratio (>4) and Leverage Ratio (<3) remain unchanged •
Slide 15: Financial Covenants
Financial Covenants Amounts x € 1 million 2017.JUN 2017.DEC 2018.JUN Net debt 45,1 -13,7 14,5 Adjustments: Net debt Joint Ventures 81,4 89,2 96,6 Net debt non recourse project finance -89,6 -95,0 -100,0 Cumulative preference shares B -45,1 -45,1 -45,1 Other 3,3 5,3 2,7 Net debt covenants (A) -5,0 -5
Slide 16: Condensed Balance sheet
Condensed Balance sheet 30 June 31 December 30 June x € 1 million 2018 2017 2017 Fixed assets 252 282 294 Working capital (excl. cash and cash equivalents) -72 -116 -67 Capital invested 180 166 227 Equity 145 162 162 Provisions (non-current) 21 18 20 Net debt 14 -14 45 Financing 180 166 227 16
Slide 17: Strategy and outlook
heymans Strategy and outlook
Slide 18: New phase, new challenges
New phase, new challenges • From shrinkage to growth • Respond to market conditions: scarcity of resources at residential building, gas-free building • Management style that fits this new phase: forming of the Group council, forming Building & Technology • Further development risk management with ce
Slide 19: On track towards structural recovery of profitability
On track towards structural recovery of profitability • Continuation of selective acceptance policy, project control, predictability, controlled continuation of previously acquired high risk-projects • Structural recovery of profitability and making Heijmans future-proof: strategic agenda 2023 in pr
Slide 20: 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 August 15, 2018. The information may not be further distributed or passed on to
Slide 21: heijmansnl @heijmansnl heijmans
heijmansnl @heijmansnl heijmans heijmansnl
Slide 22: Condensed consolidated statement of financial position
Condensed consolidated statement of financial position x € 1 million ASSETS 30 June 2018 31 December 2017 30 June 2017 Non-current assets P roperty, plant and equipment 44 47 50 Intangible assets 79 80 81 J oint ventures and associates 66 66 69 8.5 Employee related receivable - 30 30 Other fixed ass