Koninklijke Heijmans N.v. · EURONEXT:HEIJM
Koninklijke Heijmans — Heijmans — FY2010 Earnings Presentation
32 slides from Koninklijke Heijmans's earnings presentation, Mar 2, 2011
Slide 1: Annual Results 2010
ANNUAL RESULTS 2010 2 March 2011 Executive Board Heijmans N.V.
Slide 2: Heijmans realises profit in difficult market
‘Heijmans realises profit in difficult market’ Integrated approach, “margin over volume” and focus on quality Gerrit Witzel- Chairman of the Executive Board Heijmans N.V. 2
Slide 3: Project in focus: Andreas Ensemble in Amsterdam
Project in focus #Andreas Ensemble in Amsterdam 3
Slide 4: Strategy
Strategy leading in sustainability, profitability and quality distinctive through integrated approach, by: > make the most of synergy benefits > margin over volume > competitive on innovation and a the best value for money > employer of choice > preservation of energy, material and space > reduction
Slide 5: Profitability
Profitability 2010: Heijmans achieves an operating result of € 48 million with a net result of € 16 million 5
Slide 6: Sustainability
Sustainability 2010: ‘klimaatscriptieprijs’ for academic talent with WWF, highest level CO2 performance ladder Prorail, development of sustainable asphalt with Shell, co-initiator of Smart Energy Collective, leader Bossche Energy Convenant 6
Slide 7: Quality
Quality 2010: winner Rijkswaterstaat award ‘attitude and behavior’, winner Cobouw Awards for most successful building company in 2010, dozens of employees are being trained to become black, green en yellow belts in the LEAN6Sigma programme, start project ‘zero defects’ to reduce failure costs 7
Slide 8: Highlights
Highlights • Improved results despite lower revenues • Net profit € 16 million • Autonomous revenue decline levelled off in second half of 2010 • Total number of houses sold in The Netherlands rose to over 1,500 • Orderbook slightly down versus Q3 2010 and versus 2009 year-end. • Solvency improved t
Slide 9: Highlights – key projects
Highlights – key projects • Three plots Schiphol Airport • Renovation provincial government building Haarlem • Start building Meander Hospital, Amersfoort • Den Bosch railtracks • Start building Haarlemmerplein, Amsterdam • A12 Waterberg-Velperbroek 9
Slide 10: Outlook
OUTLOOK • The market remains challenging • Focus on strict working capital management, cash flow generation and the policy of margin rather than volume • Ambition: leading in sustainability, quality and profitability • Integrated approach is distinctive for our customers • Heijmans looks forward to
Slide 11: Project in focus: Frederikkazerne in Den Haag
Project in focus #Frederikkazerne in Den Haag 11
Slide 12: Heijmans realises profit in difficult market
‘Heijmans realises profit in difficult market’ Integrated approach, “margin over volume” and focus on quality Mark van de Biggelaar- CFO and member of the Executive Board Heijmans N.V. 12
Slide 13: Key figures 2010
Key figures 2010 2H 2010 1H 2010 FY2010 FY2009 x 1 € million Revenues 1.438 1.242 2.680 3.079 Operating result continued operations 36 11 47 32 Operating result 34 14 48 -7 Result after tax 12 4 16 -40 Earnings per share 0,93 -3,23 Order book 2.188 2.399 2.188 2.314 Net debt 178 277 178 223 • Autono
Slide 14: Key figures 2010: Operating result
Key figures 2010: Operating result x € 1 million 2H 2010 1H 2010 2010 2009 Revenues 1.438 1.242 2.680 3.079 Operating result continued operations 36 11 47 32 Result of disposals 9 3 12 15 Write down on property development and landbank -6 0 -6 -15 Restructuring costs -5 0 -5 -39 Operating result 34
Slide 15: Key figures 2010: Net result
Key figures 2010: Net result x € 1 million 2H 2010 1H 2010 2010 2009 Operating result 34 14 48 -7 Restructuring costs 0 0 0 -21 Financial income and expenses -2 -6 -8 -19 Realised exchange rate differences UK -10 0 -10 0 Share of profit of associates 1 0 1 1 Result before tax 23 8 31 -46 Income tax
Slide 16: Development per sector: Property development
x € 1 million 2010 2009 Revenues 391 421 Operating result continued activities 0 1 Operating margin 0,0% 0,2% DEVELOPMENT PER SECTOR Order book 343 360 PROPERTY DEVELOPMENT • Number of houses sold 1,505 (2009: 1,283; Q4 2010: 463) • No sustainable recovery of the market • Phasing of projects begins
Slide 17: Development per sector: Residential building
x € 1 million 2010 2009 Revenues 410 541 Operating result continued activities 17 10 Operating margin 4,1% 1,8% DEVELOPMENT PER SECTOR Order book 377 464 RESIDENTIAL BUILDING • Declining revenues reflect decreased production volume • Substantial increase operating result, due to professionalization
Slide 18: Development per sector: Non-residential building
x € 1 million 2010 2009 Revenues 232 225 Operating result continued activities 1 -2 Operating margin 0,4% -0,9% DEVELOPMENT PER SECTOR Order book 282 321 NON-RESIDENTIAL BUILDING • Limited increase profitability, loss in 2nd half 2010 • Increased demand for renovation • Negative results ‘Prefab’ • S
Slide 19: Development per sector: Technical services
x € 1 million 2010 2009 Revenues 210 281 Operating result continued activities 5 14 Operating margin 2,4% 5,0% Order book 210 176 DEVELOPMENT PER SECTOR TECHNICAL SERVICES • Limited new investments in commercial property and health care • 2010 turnover decreased by 25%, the order book however increa
Slide 20: Development per sector: Infra, roads and civil engineering
x € 1 million 2010 2009 Revenues 714 762 Operating result continued activities 34 16 Operating margin 4,8% 2,1% Order book 846 854 DEVELOPMENT PER SECTOR INFRA: ROADS AND CIVIL ENGINEERING • In 2010 some increase in large-scale, integrated, and specialised projects • Operating result increased subst
Slide 21: Development per sector: Foreign activities
x € 1 million 2010 2009 Revenues 529 736 Operating result continued activities 12 10 Operating margin 2,3% 1,4% Order book 373 367 DEVELOPMENT PER SECTOR FOREIGN ACTIVITIES • Decreased turnover for both Belgium as Germany • Significant improvement operating result Belgium (2010: € 3 million profit v
Slide 22: Balance sheet, cash flow and funding
BALANCE SHEET, CASH FLOW AND FUNDING in € mln. 2010 2009 Fixed assets 413 475 Working capital 263 214 Capital invested 676 689 Equity 455 426 Provisions 43 40 net interest bearing debt 178 223 Funding 676 689 Note: Before re-allocation 'Assets held for Sale' • The cash flow from operating activities
Slide 23: Project in focus: knooppunt Deil bij Culemborg
Project in focus #knooppunt Deil bij Culemborg 23
Slide 24: Summary
Summary Operating result continued operations x € 1 million 2010 2009 Netherlands: Property development 0 1 Residential 17 10 Non-residential 1 -2 Technical services 5 14 Infra 34 16 57 39 Foreign: Belgium 3 -3 Germany 9 13 12 10 Corporate/other -22 -17 Total operating result continued operations 47
Slide 25: Questions and answers
sae: heiymans ® Nats “ieee ee oe "4 , al
Slide 26: Project in focus: Pakhuys Afrika in Amsterdam
Project in focus #Pakhuys Afrika in Amsterdam 26
Slide 27: Project in focus: Christiaan Huygenscollege in Eindhoven
Project in focus #Christiaan Huygenscollege in Eindhoven 27
Slide 28: Project in focus: Randweg A2 in Eindhoven
Project in focus #Randweg A2 in Eindhoven 28
Slide 29: Project in focus: Rostock Hafen
Project in focus #Rostock Hafen 29
Slide 30: Appendix – Order book
APPENDIX-ORDER BOOK Order book Order book Order book (x € 1 million) 31-12-2010 31-12-2009 Property development 343 360 Residential 377 464 Non-residential 282 321 Technical services 210 176 Infra 846 854 Other/eliminations -243 -228 Netherlands 1.815 1.947 Belgium 227 238 Germany 146 129 Total orde
Slide 31: 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 March 11, 2010. The information may not be further distributed or passed on to
Slide 32: Heijmans N.V.
HEIJMANS N.V. PO Box 2 5240 BB Rosmalen, The Netherlands info@heijmans.nl www.heijmans.nl http://twitter.com/HeijmansNL 32