Koninklijke Heijmans N.v. · EURONEXT:HEIJM
Koninklijke Heijmans — Heijmans — H1 2019 Earnings Presentation
25 slides from Koninklijke Heijmans's earnings presentation, Aug 21, 2019
Slide 1: Heijmans interim results 2019
Heijmans interim results 2019 21 AUGUST 2019
Slide 2: Heijmans interim results 2019: Further improvement result
Heijmans interim results 2019: Further improvement result 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 – 2019 20 10 Heijmans NV - number of injuries per month 18 8 16 14 6 12 10 4 8 3,5 6 2 4 2 0 2013 2014 2015 2016 2017 2018 2019 0 2013 2014 2015 2016 201
Slide 4: Highlights interim H1 results
Highlights interim H1 results • Underlying EBITDA (excl. IFRS 16) improved: € 25 million (H1 2018: € 20 million), all business units positive; • Revenue lower: € 730 million (H1 2018: € 780 million); • Number of homes sold comparable to last year: 1,061 homes sold in H1 of 2019 (1,065 homes in H1 of
Slide 5: Key figures H1 2019
Key figures H1 2019 Key figures (x € 1 million) H1 2019 H1 2018 2018 Revenues 730 780 1.579 Underlying EBITDA* excl. IFRS 16 25 20 43 Underlying EBITDA* incl. IFRS 16 36 - - Result after tax 15 8 20 Earnings per share (in €) 0,71 0,39 0,96 Order book 2.091 2.203 2.014 Net debt excl. IFRS 16 23 14 -3
Slide 6: Developments per sector
heymans Developments per sector
Slide 7: Property Development: temporary lower revenues, margins stable
Property Development: temporary lower revenues, margins stable Property development ∆% x € 1 million H1 2019 H1 2018 2018 2019-2018 Revenues 206 245 503 -16% Underlying EBITDA excl. IFRS 16 11 13 28 Underlying EBITDA margin excl. IFRS 16 5,3% 5,3% 5,6% Underlying EBITDA incl. IFRS 16 11 - - Order bo
Slide 8: Fenixlofts, Rotterdam / Fenix, Rotterdam
FENIXLOFTS, ROTTERDAM FENIX, ROTTERDAM
Slide 9: Building & Technology: structural recovery
Building & Technology: structural recovery Building & Technology ∆% x € 1 million H1 2019 H1 2018 2018 2019-2018 Revenues - Residential 225 213 440 Revenues - Non-Residential 165 136 286 Revenues - Building & Technology 390 349 726 12% Underlying EBITDA excl. IFRS 16 - Residential 7 6 11 Underlying
Slide 10: European Medicines Agency (EMA), Amsterdam
EUROPEAN MEDICINES AGENCY (EMA), AMSTERDAM
Slide 11: Infra: focus, predictability and controlled development
Infra: focus, predictability and controlled development Infra ∆% x € 1 million H1 2019 H1 2018 2018 2019-2018 Revenues 297 312 654 -5% Underlying EBITDA excl. IFRS 16 7 6 8 Underlying EBITDA margin excl. IFRS 16 2,4% 1,9% 1,2% Underlying EBITDA incl. IFRS 16 13 - - Order book 773 953 766 • Selective
Slide 12: Variable maintenance A50 / Main contracts Schiphol
VARIABLE MAINTENANCE A50 DUTCH MINISTRY OF PUBLIC WORKS AND WATERWAYS (RIJKSWATERSTAAT) MAIN CONTRACTS SCHIPHOL
Slide 13: Financial
heymans Financial
Slide 14: Statement of profit or loss
H1 2019 H1 2018 2018 x € 1 million incl. IFRS 16 excl. IFRS 16 excl. IFRS 16 excl. IFRS 16 Revenues 730 730 780 1.579 Statement of profit Property development 11 11 13 28 Residential 9 7 6 11 or loss Non-residential Building & Technology 6 15 4 11 0 6 5 16 Infra 13 7 6 8 Corporate -3 -4 -5 -9 Underl
Slide 15: Cash flow and financing
Cash flow and financing • Net debt € 23 million (after IFRS16: € 99 million) slightly higher than previous year (€ 14 million) • Working capital deteriorated y-o-y by approximately € 30 million due to the completion of a number of pre-financed projects and an increase in the number of houses under c
Slide 16: Further improvement
Further improvement 175 Commitment syndicated loan versus average drawdowns of syndicated loan - Average debt and debt utilisation continued to 150 improve in H1 125 - Impact: headroom on 100 facilities continued to 75 increase and interest 50 expenses declined 25 0 31-dec-17 31-mrt-18 30-jun-18 30-
Slide 17: Covenants
Amounts in € millions 2019 H1 2018 FY 2018 H1 Reported Net debt 99,1 -30,7 14,5 Adjustments: Corrections IFRS 16 -76,1 Net debt Joint Ventures 78,5 78,1 96,6 Net debt non recourse project financings -90,5 -92,4 -100,0 Cumulative preference shares B -45,1 -45,1 -45,1 Covenants Other Net debt covenant
Slide 18: Impact IFRS 16 Leases as of 2019
Impact IFRS 16 Leases as of 2019 • Modified retrospective method applied, as a result, no comparable figures for 2018 • Balance sheet: lengthening due to recognition of operational leases and rental agreements • Except for: contracts shorter than 12 months / initial value < € 5.000 • P&L: reclassifi
Slide 19: Impact IFRS 16 Leases as of 2019
Condensed consolidated balance sheet x € 1 million Adjustment 31 December 2018 1 January 2019 IFRS 16 Leases Impact IFRS 16 Leases as of ASSETS Non-current assets Property, plant and equipment 44 44 2019 Right-of-use assets - 79 79 Intangible assets 79 79 Joint ventures and associates 72 72 Other fi
Slide 20: Strategy and outlook
heymans Strategy and outlook 20
Slide 21: Strategy 2023
heijmans Strategy 2023 @y. SMARTER SUSTAINABLE ¢ Safety « Risk management & process improvement ¢ Quality of the organization « Digitalisation « Production technology ¢ Energy ¢ Materials ¢ Space
Slide 22: Digital monitoring of locking process; Solar highways
DIGITAL MONITORING OF LOCKING PROCESS AND SHIPPING TRAFFIC BEATRIXSLUIS NIEUWEGEIN OPENING SOLAR HIGHWAYS
Slide 23: Outlook: structural profitability
Outlook: structural profitability • On track to record a good result for 2019 • Increase result and slight decrease revenues while maintaining healthy margins • Long-term outlook housing market remains positive and offers opportunities for continued growth. • Longer throughput times at a number of p
Slide 24: 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 21, 2019. The information may not be further distributed or passed on to
Slide 25: heijmansnl @heijmansnl heijmans
heijmansnl @heijmansnl heijmans heijmansnl