Koninklijke Heijmans N.v. · EURONEXT:HEIJM
Koninklijke Heijmans — Heijmans — H1 2012 Earnings Presentation
25 slides from Koninklijke Heijmans's earnings presentation, Aug 22, 2012
Slide 1: Interim Results 2012
INTERIM RESULTS 2012 August 22, 2012 Executive Board Heijmans N.V.
Slide 2: Integrated projects contributing positively to results
“Integrated projects contributing positively to results” Bert van der Els- chairman Heijmans Executive Board
Slide 3: H1 2012 – Highlights
H1 2012 – Highlights Turnover stable; Housing market remains poor: 400 homes sold first half year (638 H1 2011); Integration of Non-residential building and Technical services into ‘Non-residential’; Stable results for Roads & Civil; Net profit € 4 million; Prefab activities sold off to Bitter Beton
Slide 4: H1 2012 - Progress
H1 2012 - Progress • Market for integrated projects remains key; • Focus on service, management and maintenance connects with integrated approach; • Good projects acquired, in progress and delivered: o City offices Rotterdam o Talent Building Amsterdam o Tilburg Energy Factory o Widening A12 motorwa
Slide 5: Strategy
Strategy Improve the core Continuous development of innovations with potential Focus on smart energy, smart mobility and smart materials Added value through integrated and innovative approach
Slide 6: Outlook
Outlook • No signs of improvement in the housing market; • Continuous focus on: o integrated approach o margin over volume o improve the core • Solid capital position; • Order book stable at € 2.2 billion; • Outlook 2012: Positive operational result
Slide 7: Financial position remains strong: solvency ratio 31%
“Integrated projects contributing positively to results” Financial position remains strong: solvency ratio 31% Mark van den Biggelaar - CFO and member of Heijmans Executive Board
Slide 8: Developments per sector: Property Development
x € million 1H 2012 1H 2011 2011 Revenues 119 164 349 Underlying operating result -1 -4 1 Underlying operating margin -0,8% -2,4% 0,3% Order book 215 302 271 DEVELOPMENTS PER SECTOR PROPERTY DEVELOPMENT • 400 houses sold, of which 230 in Q2; • Approximately 35% of sales to private buyers (2011: 55%)
Slide 9: Developments per sector: Residential Building
x € million 1H 2012 1H 2011 2011 Revenues 184 178 361 Underlying operating result 2 10 16 Underlying operating margin 1,1% 5,6% 4,4% Order book 286 432 371 DEVELOPMENTS PER SECTOR RESIDENTIAL BUILDING • Revenues in line with H1 2011; • Operating result H1 2012 lags versus excellent results H1 2011;
Slide 10: Developments per sector: Non-residential
x € million 1H 2012 1H 2011 2011 Revenues 227 205 451 Underlying operating result -4 3 -6 Non-residential -6 2 -11 Technical Services 2 1 5 Underlying operating margin -1,8% 1,5% -1,3% DEVELOPMENTS PER SECTOR Order book 664 557 502 NON-RESIDENTIAL (Non-residential building & Technical services) • Tu
Slide 11: Developments per sector: Roads & Civil Engineering
x € million 1H 2012 1H 2011 2011 Revenues 361 374 820 Underlying operating result 13 16 34 Underlying operating margin 3,6% 4,3% 4,1% Order book 783 811 814 DEVELOPMENTS PER SECTOR ROADS & CIVIL ENGINEERING • Slow start Q1 partly compensated during Q2; • Good results from larger, integrated projects
Slide 12: Developments per sector: International Belgium and Germany
x € million 1H 2012 1H 2011 2011 Revenues 262 261 571 Underlying operating result 5 0 6 Belgium 6 3 8 Germany -1 -3 -2 Underlying operating margin 1,9% 0,0% 1,1% DEVELOPMENTS PER SECTOR Order book 411 393 388 INTERNATIONAL: BELGIUM AND GERMANY • Good performance Belgium, mainly thanks to Infra activ
Slide 13: Key Figures H1 2012 – Non-operational Items
KEY FIGURES H1 2012 – NON-OPERATIONAL ITEMS x € 1 million 1H 2012 1H 2011 2011 Underlying operating result 4 12 32 Result of disposals * -5 -2 -6 Exceptional release pension provision 10 0 0 Write down on property assets 0 0 -43 Impairment of goodwill 0 0 -10 Restructuring costs 0 0 -9 Operating res
Slide 14: Balance Sheet, Cash Flow and Funding
BALANCE SHEET, CASH FLOW AND FUNDING Condensed balance sheet x € million jun-12 dec-11 jun-11 Non-current assets 424 409 421 Working capital 282 166 338 Capital invested 706 575 759 Equity 416 416 458 Provisions 56 56 61 Net interest bearing debt 234 103 240 Funding 706 575 759 • Capital position re
Slide 15: Summary
SUMMARY Revenues stable with mixed picture per sector; Positive operating result first half of 2012; Net income positive as well. Non-operating items: Sell off Prefab One-off contribution from pension commitments Solid capital position; Order book stable at € 2.2 billion; Outlook to end the year
Slide 16: Questions and Answers
sae: heiymans ® Nats “ieee ee oe "4 , al
Slide 17: Project in focus: Aquanura Efteling
Project in focus #Aquanura Efteling
Slide 18: Project in focus: A2 Motorway Kerensheide
Project in focus #A2 Motorway Kerensheide
Slide 19: Project in focus: Energy Factory Tilburg
Project in focus #Energy Factory Tilburg
Slide 20: Project in focus: National Military Museum
Project in focus #National Military Museum
Slide 21: Project in focus: North-South Metroline
Project in focus #North-South Metroline
Slide 22: Project in focus: Railways Den Bosch
Project in focus #Railways Den Bosch
Slide 23: Project in focus: Laakse Beemd Amersfoort
Project in focus #Laakse Beemd Amersfoort
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 22, 2012. The information may not be further distributed or passed on to
Slide 25: Heijmans N.V.
HEIJMANS N.V. PO Box 2 5240 BB Rosmalen, The Netherlands info@heijmans.nl www.heijmans.nl http://twitter.com/HeijmansNL