Koninklijke Heijmans N.v. · EURONEXT:HEIJM
Koninklijke Heijmans — FY2016 Earnings Presentation
21 slides from Koninklijke Heijmans's earnings presentation, Feb 16, 2017
Slide 1: Update 2016: preliminary annual figures, refinancing, strategy adjustment
Update 2016: preliminary annual figures, refinancing, strategy adjustment Wijnhavenkwartier Den Haag 16 February 2017 Executive Board Heijmans N.V.
Slide 2: Heijmans; preliminary results 2016, strategy adjustment and new financing agreements
Heijmans; preliminary results 2016, strategy adjustment and new financing agreements • Agreements concerning loss-making projects: resulting in great loss • Refinancing realised, agreements extended up to 1 July 2019 • Tightened strategic focus: Heijmans to concentrate on Dutch market Ton Hillen – c
Slide 3: Highlights based on preliminary figures
Highlights based on preliminary figures • Revenues slightly decreased: € 1.9 billion (2015: € 2 billion), excl. Belgium and Oevermann € 1.43 billion • Net result: - € 110 million (2015: - € 27 million) • Losses primarily due to loss-making projects, in total approximately € 90 mln • Underlying opera
Slide 4: Financial settlement and ringfencing of loss-making projects
Financial settlement and ringfencing of loss-making projects • Total impact 2016 nearly € 90 mln • Infra: approx. € 75 mln • Non-Residential: approx. € 15 mln • Drachtsterweg Leeuwarden: new agreements Q2 2016, loss 2016: € 6 mln • Energiefabriek Tilburg: contract termination per 1-12-2016, loss 201
Slide 5: Status disposals
Status disposals • Franki: net proceeds nearly € 15 million, sale concluded • Belgium companies: net proceeds over € 40 million, pending approval antitrust authorities • Oevermann: analysis and process ongoing
Slide 6: Preliminary results 2016
Preliminary results 2016 Full Year (in million €) 2016 2015 Revenues Underlying Revenues Underlying EBIT EBIT Property Development 330 15 278 9 Residential 295 4 295 5 Non-Residential 315 -15 421 0 Infra 620 -78 690 -26 Eliminations -195 -233 Netherlands 1.365 -74 1.451 -12 Belgium/ Germany 515 20 5
Slide 7: Development sectors
Development sectors Property Development and Residential Building • Property development: strong increase revenues and results • Residential Building: revenues and results comparable to 2015, controlled growth Non-Residential • Non-Residential: decreasing revenues due to delay RIVM and selective acq
Slide 8: Short-term measures
Short-term measures • Risk profile loss-making projects reduced, effective completion • Strategy adjusted and implementation started: focus fully on Dutch market ‘Focus, Discipline, Excellence’ • Tightened focus on core competencies • Selection of projects: core competencies, margin and risk profile
Slide 9: Financing
Financing • Duration until 1 July 2019 • Credit facility reduced in phases to € 122 mln (30 June 2019), in line with new scope • Divestment foreign companies: debt reduction • No covenant testing Q4 2016 and Q1 2017 • Q2, Q3, Q4 2017: customised covenants, testing minimum levels EBITDA and solvency
Slide 10: Strategic adjustment: 2017 - 2019 Focus, Discipline, Excellence
Strategic adjustment: 2017 - 2019 Focus, Discipline, Excellence • Dutch core company, revenues approx. € 1,5 billion, with positive results • Selective acquisition based on core competencies per segment • Large/complex projects in partnerships • Optimising cash management: from acquisition until com
Slide 11: Strategic adjustment per sector
Strategic adjustment per sector Property Development and Residential Building • Growth from solid fundamentals, in margin and volume • Accelerating property developments leads to further debt reduction • Combination: suburban areas and inner-city developments – new-build and transformation/renovatio
Slide 12: Strategic adjustment per sector
Strategic adjustment per sector Non-Residential • Commercial focus and selective acquisition based on core competencies • Expand market share Services, growth in volume and margin • Growing importance of concepts and process standardisation • Intensifying collaboration with Property Development on t
Slide 13: Management
Management After 12 april 2017 (AGM) • Ton Hillen: Chief Executive Officer • Ruud Majenburg: member Executive Board • Age Lindenbergh: Chief Financial Officer ad interim
Slide 14: 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 February 16, 2017. The information may not be further distributed or passed on
Slide 15: heijmans
heijmans Ye rt a iy HeijmansNL Ei HeijmansNL wwwheijmans.nt (i Helimansnv jin] Heijmans
Slide 16: Spaarndammerbuurt, Amsterdam
Spaarndammerbuurt, Amsterdam
Slide 17: New built RIVM & CBG, Utrecht
heymans New built RIVM & CBG, Utrecht
Slide 18: Maintenance Ministries Den Haag
Maintenance Ministries Den Haag
Slide 19: A12 Parallelstructuur Gouda
A12 Parallelstructuur Gouda
Slide 20: 1000e Heijmans Huismerkwoning Grauwaart Leidsche Rijn, Utrecht
1000e Heijmans Huismerkwoning Grauwaart Leidsche Rijn, Utrecht
Slide 21: Wintrack II TenneT
Wintrack II TenneT