Koninklijke Heijmans N.v. · EURONEXT:HEIJM
Koninklijke Heijmans — H1 2023 Earnings Presentation
30 slides from Koninklijke Heijmans's earnings presentation, Jul 28, 2023
Slide 1: Royal Heijmans interim results (H1) 2023
Royal Heijmans interim results (H1) 2023 FRIDAY 28 JULY 2023
Slide 2: 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 July 28, 2023. The information may not be further distributed or passed on to o
Slide 3: Solid first half and confidence in the future
Solid first half and confidence in the future TON HILLEN, CEO GAVIN VAN BOEKEL, CFO
Slide 4: Safety
Safety Trend in number of accidents (incl. subcontractors and Trend IF figure (own employees, incl. temporary hires) replacement work) 2019 2020 2021 2022 2023-YTD Fatal accidents 1 0 0 1 0 IF (period of past 12 months) 3.3 3.7 3.8 2.7 3.5 # Accidents 84 85 66 71 41.5 *IF- Injury Frequency = number
Slide 5: Heijmans has been using two electric Liebherr cranes since March 2023
HEIJMANS HAS BEEN USING TWO ELECTRIC LIEBHERR CRANES SINCE MARCH 2023
Slide 6: Highlights first half of 2023
Highlights first half of 2023 • 100 years of Heijmans: awarded Royal predicate. • All Heijmans business areas achieved step 4 on the safety ladder. • Acquisition of Van Wanrooij announced on 21 June. • Revenue rises to € 937 million (was € 864 million in first half 2022). • Sharply higher Infra and
Slide 7: Key figures first half of 2023
Key figures first half of 2023 x € 1 million The underlying EBITDA is the operating result before depreciation and amortisation, including EBITDA joint ventures, excluding property write-downs, reorganisation costs, acquisition costs of new entities and, if applicable, any other cited non-operating
Slide 8: Long-term maintenance and management contract
LONG-TERM MAINTENANCE AND MANAGEMENT CONTRACT 8
Slide 9: Developments per sector
heymans Developments per sector
Slide 10: Property development: decline in inner city high rise building
Property development: decline in inner city high rise building x € 1 million • Lower revenue, primarily due to challenges in inner-city high-rise buildings. • However, underlying EBITDA margin remains within strategic range. • Volume of residential sales in H1 2023 slightly higher than in H2 2022. •
Slide 11: Zutphen, Noorderhaven project
ZUTPHEN, NOORDERHAVEN PROJECT
Slide 12: Building & Technology: higher non-residential revenue
Building & Technology: higher non-residential revenue x € 1 million • Revenue up ~ 20%, mainly due to more non-residential projects. • Underlying EBITDA increases to € 21 million from € 17 million. • Non-residential projects: more 1-to-1 assignments and long-term maintenance contracts. • Non-residen
Slide 13: Second phase of Science Campus University of Leiden
SECOND PHASE OF SCIENCE CAMPUS UNIVERSITY OF LEIDEN
Slide 14: Infra: anticipated volume increase
Infra: anticipated volume increase x € 1 million • Revenue higher; back to 2021 level. • Volume recovery in 2023, start-up A1-Twello, Zwanenburg runway Schiphol and Nieuwe Meer. • Order portfolio > € 1 billion, good spread with ~40% recurring business. • Underlying EBITDA € 23 million, upper end of
Slide 15: Reinforcement Groningen section of main contracts Schiphol Lauwersmeer dyke
REINFORCEMENT GRONINGEN SECTION OF MAIN CONTRACTS SCHIPHOL LAUWERSMEER DYKE
Slide 16: Financial
heymans Financial
Slide 17: Statement of profit or loss
Statement of profit or loss 17
Slide 18: Net cash position and financing
Net cash position and financing • Net cash position strong as ever at € 116 million (+ € 15 million year-on-year). o Stable operating result. o Rising investment levels resulting in over € 20 million higher property, plant and equipment. o Stable working capital; increasing inventory position offset
Slide 19: Financial calendar
Financial calendar 2023 • Q3: Expect closing of Van Wanrooij acquisition (subject to ACM approval). • 6 September: EGM to amend articles of association (incl. name change to ‘Royal Heijmans NV’). • 1 November: third quarter trading update. 2024 • postponement of publication of 2023 annual results du
Slide 20: Fully electric rollers
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Slide 21: Sustainability at Heijmans
Sustainability at Heijmans • Sustainability is an integral part of our strategy • Heijmans has made major progress on key themes in recent years: climate, circularity, biodiversity and nature-inclusive construction • Sustainability is becoming an increasingly important component in EMVI criteria • T
Slide 22: We are taking concrete steps
We are taking concrete steps • As a prominent player in the sector, Heijmans wants to play a leading role in making the living environment more sustainable. • Heijmans’ ambition is to be CO2 neutral (scope 1 and scope 2) from 2023. • Heijmans took more than ten pieces of electric equipment into use
Slide 23: Outlook
heymans Outlook 23)
Slide 24: Outlook 2023
Outlook 2023 • Partly in light of the increased order book, increasing revenue for the whole of 2023. • Based on solid progress, we expect underlying EBITDA of at least € 107 million. • The 2023 outlook combined with our well-filled order book also inspires confidence for 2024. • Heijmans Infra is i
Slide 25: Royal Heijmans is well positioned for the future
Royal Heijmans is well positioned for the future
Slide 26: Appendix
heymans Appendix 26
Slide 27: Van Wanrooij, a renowned company in project development and construction
Van Wanrooij, a renowned company in project development and construction • Project development: Sale and development of an average of 1,200 homes per year • Approx. 14k homes in land bank • 95% houses (vs. stacked) • Mainly in North Brabant, Gelderland and Utrecht • Construction: 600 - 700 homes per
Slide 28: Main points of strategic rationale
Main points of strategic rationale 1 • Strong match with Heijmans' operations, increasing exposure to the Housing shortage 2022 residential project development and construction market (a market characterised by favourable underlying trends) 2 • Very attractive land bank (approx. 14k homes), deliveri
Slide 29: Investment case for the merger
Investment case for the merger 1 1 Greater exposure to profitable sector with strong long-term market trends 2 Immediate improvement of land bank, in terms of both volume and mix (#2 land bank in NL) 3 3 Opportunity to scale up industrial and conceptual production, including the Horizon factory 4 4
Slide 30: heijmansnl @heijmansnl heijmans
heijmansnl @heijmansnl heijmans heijmansnl