Koninklijke Heijmans N.v. · EURONEXT:HEIJM

Koninklijke Heijmans — Heijmans — H1 2014 Earnings Presentation

31 slides from Koninklijke Heijmans's earnings presentation, Aug 20, 2014

1. Slide 1: Interim Results 2014

   INTERIM RESULTS 2014 August 20, 2014 Execu0ve Board Heijmans N.V.

2. Slide 2: Heijmans: Moderate half year, substantial growth order book

   “Heijmans: Moderate half year, substanDal growth order book” 2014 transi,on year, residen,al market offers perspec,ve Bert van der Els-­‐ chairman Heijmans Execu0ve Board

3. Slide 3: H1 2014 – Highlights

   H1 2014 – Highlights • Moderate half year, 2014 is a transi0on year; • Residen0al: Turnover s0ll at low level, posi0ve outlook; • Non-­‐residen0al: Solid development. Black figures for H1 2014; • Infra: Margin pressure affects performance, good order intake.

4. Slide 4: H1 2014 – Highlights

   H1 2014 – Highlights • Nega0ve result Infra Netherlands. Good results Infra in Belgium; • Non-­‐residen0al and Germany stable, Residen0al small loss; • Turnover low, mainly for Residen0al and Non-­‐Residen0al; • Number of houses sold H1: 482 (+25%) o Increased sales to private buyers (now 50% of uni

5. Slide 5: H1 2014 – Improvement and Revitalisation

   H1 2014 – Improvement and RevitalisaDon • Tender management, Project management, Procurement & Commerce; • Unabated focus on risk management; • Con0nuous process improvements through e.g. Lean Six Sigma.

6. Slide 6: H1 2014 – Improvement and Revitalisation

   H1 2014 – Improvement and RevitalisaDon • Further improvement quality and innova0on, corporate steering; • Strong posi0on for PPP with Heijmans Capital joint-­‐venture; • Introduc0on of the ‘Heijmans One’ house; • Heijmans ‘Huismerk’ (private label) home gets momentum; • ‘Gulden Feniks’ award for pr

7. Slide 7: H1 2014 – Progress

   H1 2014 – Progress Veenendaal-Ede-Grijsoord A12 De Sleutels- Leiden Mercaden Dorsten

8. Slide 8: H1 2014 – Progress

   H1 2014 – Progress Elisabeth Center Antwerpen

9. Slide 9: H1 2014 – Progress

   H1 2014 – Progress Eurojust Den Haag RIVM Den Haag Parallelstructuur A12

10. Slide 10: Outlook

    Outlook • Sustained recovery Dutch housing market; • Order book offers perspec0ve for growth; • 2014 financials seriously impacted by crisis-­‐period with significant impact on turnover and profit; • Heijmans con0nues to focus on: o Improve the core o Risk-­‐ and cost control o Integrated approach o Inn

11. Slide 11: Heijmans: Moderate half year, substantial growth order book

    “Heijmans: Moderate half year, substanDal growth order book” 2014 transi,on year, residen,al market offers perspec,ve Mark van den Biggelaar -­‐ CFO and member of Heijmans Execu0ve Board

12. Slide 12: Developments per Sector: Property Development (NL)

    x € 1 million H1 2014 H1 2013 2013 Revenues 61 63 154 Underlying operating result -1 -3 1 Underlying operating margin -1,6% -4,8% 0,6% Order book 229 115 190 DEVELOPMENTS PER SECTOR PROPERTY DEVELOPMENT (NL) • Opera0onal result H1 s0ll nega0ve given low produc0on due to crisis. Recovery is visible;

13. Slide 13: Developments per Sector: Residential Building (NL)

    x € 1 million H1 2014 H1 2013 2013 Revenues 92 109 223 Underlying operating result -3 -5 -3 Underlying operating margin -3,3% -4,6% -1,3% Order book 259 165 173 DEVELOPMENTS PER SECTOR RESIDENTIAL BUILDING (NL) • Impact of the years-­‐long market condi0ons s0ll visible in the opera0ng result; • Decl

14. Slide 14: Developments per Sector: Non-Residential (NL)

    x € 1 million H1 2014 H1 2013 2013 Revenues 169 229 466 Underlying operating result 1 1 2 Underlying operating margin 0,6% 0,4% 0,4% Order book 682 511 511 DEVELOPMENTS PER SECTOR NON-­‐RESIDENTIAL (NL) • Solid results, lower revenues due to delivery of larger projects; • Disciplined project-­‐ and

15. Slide 15: Developments per Sector: Roads & Civil (NL)

    x € 1 million H1 2014 H1 2013 2013 Revenues 341 326 751 Underlying operating result -5 11 16 Underlying operating margin -1,5% 3,4% 2,1% Order book 931 763 576 DEVELOPMENTS PER SECTOR ROADS & CIVIL (NL) • As disclosed before, 2014 is a difficult year for Infra in The Netherlands; • Results are lagging

16. Slide 16: Developments per Sector: International Belgium

    x € 1 million H1 2014 H1 2013 2013 Revenues 112 112 237 Underlying operating result 8 5 13 Underlying operating margin 7,1% 4,5% 5,5% Order book 200 215 201 DEVELOPMENTS PER SECTOR INTERNATIONAL: BELGIUM • Stable turnover with improved opera0ng results; • Good results for Heijmans Infra (Roads) and

17. Slide 17: Developments per Sector: International Germany

    x € 1 million H1 2014 H1 2013 2013 Revenues 111 132 319 Underlying operating result 0 0 6 Underlying operating margin 0,0% 0,0% 1,9% Order book 206 198 162 DEVELOPMENTS PER SECTOR INTERNATIONAL: GERMANY • Revenues slightly down, results at same level as last year; • Order book improves for Oevermann

18. Slide 18: Risk management

    Risk management Policies and corporate philosophy gradually developed and implemented as from mid 2008: • Compact set-­‐up with direct repor0ng to Execu0ve management; • Centralised organisa0on model: Heijmans acts in the market as ‘One Company’; • Centralised tender management. Direct involvement e

19. Slide 19: Risk management

    Risk management s t c e j o r p f o r e b m u N 0% Gross project margin Additional attention and control Illustrative example • Aim is not to eliminate all risks. These are and will remain to be, associated with project business; • Objec0ve is to control and manage risks with the purpose of achievin

20. Slide 20: Key Figures H1 2014

    Key Figures H1 2014 x € 1 million H1 2014 H1 2013 2013 Revenues 823 912 2.001 Underlying operating result -7 2 23 Correction operating result joint ventures -2 -2 -1 Write down on property assets -1 -7 Restructuring costs -2 -4 -7 Exceptional release pension provision 4 Operating result -12 -4 12 Fi

21. Slide 21: Balance Sheet, Cash flow and Funding

    Balance Sheet, Cash flow and Funding Condensed Balance Sheet 30 June 30 June 31 December x € 1 million 2014 2013 2013 Fixed assets 355 358 352 Working capital (excl. cash and cash equivalents) 86 104 69 Capital invested 441 462 421 Equity 305 305 315 Provisions (non-current) 37 36 40 Net debt 99 121

22. Slide 22: Impact IFRS 11

    Impact IFRS 11 As per January 1, 2014, the new IFRS 11 principles have been implemented: • Adjusted method for consolida0on of ‘Joint Arrangements’: o Joint opera0ons with Dutch legal form ‘BV’ or ‘BV/CV’ will be recorded according to the ‘equity method’. Same goes for German ‘GmbH’ and ‘Arge’. o Ot

23. Slide 23: Summary

    Summary • First half of 2014 has been tough; • As disclosed before, 2014 is a transi0on year towards recovery; • Solid financial posi0on; • Dis0nc0ve proposi0on with centralised management and combined exper0se.

24. Slide 24: We are building the spatial contours of tomorrow

    we are building the spaDal contours of tomorrow

25. Slide 25: Heijmans live with renewed website!

    Heijmans live with renewed website!

26. Slide 26: Project in focus #Sluis Zaandam

    Project in focus #Sluis Zaandam

27. Slide 27: Project in focus #Keijzersveste Pijnacker

    Project in focus #Keijzersveste Pijnacker

28. Slide 28: Project in focus #DSM Lab Delft

    Project in focus #DSM Lab 6 DelZ 28

29. Slide 29: Project in focus #Timmerhuis Rotterdam

    Project in focus #Timmerhuis Roferdam

30. Slide 30: Disclaimer

    disclaimer This presenta0on has been prepared by and is the responsibility of Heijmans N.V. This presenta0on is being supplied to you solely for your informa0on and use at the presenta0on which will be or was held on August 20, 2014. The informa0on may not be further distributed or passed on to othe

31. Slide 31: Heijmans N.V.

    HEIJMANS N.V. PO Box 2 5240 BB Rosmalen, The Netherlands info@heijmans.nl www.heijmans.nl, h`p://twi`er.com/HeijmansNL

Heijmans — H1 2014 Earnings Presentation on 6ix