Slide 1: Interim results 2021
Interim results 2021 FRIDAY, 20 AUGUST 2021
Slide 2: Heijmans: operationally excellent first half
Heijmans: operationally excellent first half MR. TON HILLEN, CEO 2
Slide 3: Safety
Safety Trend in number of accidents (incl. subcontractors and Trend IF figure (own personnel, incl. insourced personnel) replacement work) 2017 2018 2019 2020 2021 - YTD Fatal accidents 1 0 1 0 0 IF (period of last 12 months) 3.7 3.9 3.3 3.7 3.2 # Accidents 77 87 84 88 28 *IF- Injury Frequency = num
Slide 4: The Nach project was delivered in Q1
THE NACH PROJECT WAS DELIVERED IN Q1 OPENING SOLAR HIGHWAYS
Slide 5: Opening Solar Highways
OPENING SOLAR HIGHWAYS
Slide 6: Highlights H1 2021
Highlights H1 2021 • Revenue higher than last year thanks to Infra and Property development • Rising profit margin in all sectors, good project results • Property development & Residential building profit from current housing market • Cash position has developed positively, H1 net cash € 44 mln • As
Slide 7: Key figures H1 2021
Key figures H1 2021 (x € 1 million) H1 2021 H1 2020 2020 Revenues 881 839 1.746 Underlying EBITDA* 35 41 85 Underlying EBITDA* excluding Wintrack II 69 41 85 Result after tax 10 15 40 Earnings per share (in €) 0,43 0,71 1,85 Order book 2.039 1.972 1.946 Net debt (cash) -44 43 -37 Solvency 27% 27% 29
Slide 8: Help and local support in Limburg after floods
HELP AND LOCAL SUPPORT IN LIMBURG, AFTER THE PROVINCE WAS HIT BY FLOODS 8
Slide 9: Developments per sector
heymans Developments per sector
Slide 10: Property development: rising revenue and result
Property development: rising revenue and result ∆% x € 1 million H1 2021 H1 2020 2020 2021-2020 Revenues 288 224 482 29% Underlying EBITDA 19 14 30 Underlying EBITDA margin 6,6% 6,3% 6,2% Order book 571 492 540 • Continued pressure on the housing market • Excellent start to 2021: more home sales and
Slide 11: Noorderhaven area development, Zutphen; Fenix, Rotterdam
NOORDERHAVEN AREA DEVELOPMENT, ZUTPHEN FENIX, ROTTERDAM
Slide 12: Building & Technology profits from housing market
Building & Technology profits from housing market ∆% x € 1 million H1 2021 H1 2020 2020 2021-2020 Revenues 383 470 920 -19% Underlying EBITDA 16 14 25 Underlying EBITDA margin 4,2% 3,0% 2,7% Order book 1.181 1.172 1.101 • Revenue declined by around 20%, profit remained stable • Selective acquisition
Slide 13: Science Campus, University of Leiden
SCIENCE CAMPUS, UNIVERSITY OF LEIDEN
Slide 14: Infra: strong performance
Infra: strong performance ∆% x € 1 million H1 2021 H1 2020 2020 2021-2020 Revenues 375 310 662 21% Underlying EBITDA (excluding Wintrack II) 37 17 36 Underlying EBITDA margin 9,9% 5,5% 5,4% Underlying EBITDA (including Wintrack II) 3 17 36 Order book 750 704 731 • Strong performance, project results
Slide 15: Cycle path South Limburg; main contracts Schiphol
CYCLE PATH BETWEEN SINT GEERTRUID AND EIJSDEN IN SOUTH LIMBURG MAIN CONTRACTS SCHIPHOL
Slide 16: Financial
heymans Financial
Slide 17: Statement of profit or loss
H1 2021 H1 2020 2020 x € 1 million Revenues 881 839 1.746 Property development 19 14 30 Building & Technology 16 14 25 Infra (excluding Wintrack II) 37 17 36 Statement of Wintrack II Corporate -34 -3 -4 -6 Underlying EBITDA 35 41 85 profit or loss Correction EBITDA joint ventures -4 5 10 Write down
Slide 18: Development of net debt
Development of net debt • Good cash flow driven by strong Omvang syndicaatslening versus gebruik syndicaatslening 150 operational performance and 125 100 continued strong working capital. 75 H1 2021: 50 25 › average net debt (365 days) 0 -25 improves to -/- € 39 mln from van -50 € 4 mln (FY 2020) -7
Slide 19: Financing
Financing • In April, Heijmans’ existing syndicated loan with ABN, ING and Rabobank was amended and extended: › Total committed amount of € 117.5 mln, with € 20 mln of this in the form of an overdraft facility › Term of loan extended through 31 December 2025 › New financial covenants, including bett
Slide 20: Development of covenants
2021 H1 2020 FY 2020 H1 Amounts in € millions Reported Net debt -43,6 -37,2 43,3 Adjustments: Net debt Joint Ventures (IFRS 11 impact) Net debt non recourse project financings Cumulative preference shares B 24,1 -38,3 -30,7 33,6 -40,3 -41,8 57,0 -74,1 -41,8 Development of Other Net debt covenants (A
Slide 21: Taxes
Taxes • Effective tax rate in H1 21.9% (H1 2020: 30.1%) • With effect from 2022, only 50% of profit above € 1 mln can be offset against historical losses, but no longer any time limit on the use of tax loss carry-forwards • As measurement is based on the same time horizon as the premises from last y
Slide 22: Asylum status holder and Heijmans buddy opening Solar Highways
ASYLUM STATUS HOLDER CHEIKHOU SOW AND HIS HEIJMANS BUDDY HAR WILLIGERS OPENING SOLAR HIGHWAYS
Slide 23: Outlook
heymans Outlook 23
Slide 24: Outlook: comparable result to 2020
Outlook: comparable result to 2020 • We are on track to record results comparable to last year • Primarily at Infra and Property development, we expect excellent operational results • As a result of the phasing of projects, with a number of projects already completed, we expect revenue in H2 to be s
Slide 25: Opportunity to ask questions
Opportunity to ask questions 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 August 20, 2021. The information may not be further distributed or passed on to
Slide 27: Heijmans social media
heijmansnl @heijmansnl heijmans heijmansnl