Slide 1: Annual figures 2015
Annual figures 2015 25 February 2016 Board of Directors Heijmans N.V.
Slide 2: Heijmans 2015: negative result, improvement visible second half of the year
“Heijmans 2015: negative result, improvement visible second half of the year” Improvement result remains top priority Bert van der Els - chairman Board of Directors Heijmans N.V.
Slide 3: Key figures 2015
Key figures 2015 Key figures x 1 € million H2 2015 2015 2014 Revenues 1.057 1.979 1.868 Underlying operating result * 6 -5 -12 Operating result -13 -29 -64 Result after tax -12 -27 -47 Order book 2.094 2.094 2.287 Net debt 10 10 31 Number of FTE 6.582 6.582 7.034 * underlying operating result is the
Slide 4: Timmerhuis, Rotterdam
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Slide 5: FY 2015 – highlights
FY 2015 – highlights • Turnover + 6% to nearly € 2,0 bln; • Underlying operational result H2: + € 6 mln; • Underlying operational result 2015: -/- € 5 mln; • Number of houses sold + 33% to 1.791; • Net result 2015 -/- € 27 mln, partly due to impairment of land bank (€ 12 mln); • Result Residential /
Slide 6: FY 2015 – highlights
FY 2015 – highlights • Safety improved due to internal program GO! (No accidents); Decline number of accidents and IF-figure NL to 3.9 in 2015 (2014: 5.6); • Financing extended until 30 June 2018; • Net debt comparable with 2014; strong focus on working capital; • Restructurings almost completed,
Slide 7: Situation NL Infrastructure
Situation NL Infrastructure • Approx. € 700 mln turnover, divided over: Regional projects & Asset Management ~40% Specialties ~20% Big Projects ~40% • Big projects Integral Roads Civils • 5-10 projects are loss making, acquired in 2012 – 2013; • Mainly to be completed in 2016; • Various
Slide 8: Control of big projects
Control of big projects Market Tendering / Acquisition Execution & Contract Organisation Management Improvement measures Focus Tender management Suitable Partnerships Design costs Market vision Start margins incl. pricing of risks Stick-to-the-plan approach Go / No go Start Up reviews Use new ERP
Slide 9: A4 Delft- Schiedam
A4 Delft- Schiedam
Slide 10: First Heijmans ONEs sold to Wonen Limburg
First 30 Heijmans ONEs sold to Wonen Limburg
Slide 11: 2015 – To improve and renew
2015 – To improve and renew • Processes and procedures Integration of Roads and Civil into one Heijmans Infra Implementation of new ERP platform (SAP) on schedule Process tender management incl “go / no go” moments company wide adopted Process improvements for project management, procurement
Slide 12: Wijnhavenkwartier, Den Haag
Wijnhavenkwartier, Den Haag
Slide 13: Outlook
Outlook • Continuing positive trend residential market, Heijmans well positioned; • Gradual improvements Non Residential and Infrastructure, markets remain challenging; • Germany and Belgium solid; • Heijmans strategy remains unchanged: Improve the core Integrated approach (uniform processes / c
Slide 14: Heijmans 2015: negative result, improvement visible second half of the year
“Heijmans 2015: negative result, improvement visible second half of the year” Mark van den Biggelaar – CFO & member Board of Directors Heijmans N.V.
Slide 15: Property Development
x € 1 million 2015 2014 DEVELOPMENTS PER SECTOR Revenues 278 179 Underlying operating result 9 4 Underlying operating margin 3,2% 2,2% PROPERTY DEVELOPMENT Order book 284 234 • Turnover sharp increase (55%) with positive margin development; • Houses sold increased with 33% to 1.791 (2014: 1.347), of
Slide 16: Boszoom Pijnacker
Boszoom Pijnacker
Slide 17: Transformation Grootlab Amsterdam School of Arts
Transformation Grootlab Amsterdam School of Arts
Slide 18: Residential
x € 1 million 2015 2014 DEVELOPMENTS PER SECTOR Revenues 387 299 Underlying operating result 6 2 Underlying operating margin 1,6% 0,7% RESIDENTIAL Order book 421 395 • Turnover increased, > 50% with Property Development; • Turnover divided into the Netherlands (€ 295 mln) and Belgium (€ 92 mln); • O
Slide 19: Elisabeth Center Antwerpen (B)
Elisabeth Center Antwerpen (B)
Slide 20: Groene Oever, Lent
Groene Oever, Lent
Slide 21: Edith Stein College Den Haag
Edith Stein College Den Haag
Slide 22: Plein van Leiden
Plein van Leiden
Slide 23: Non Residential
DEVELOPMENTS PER SECTOR NON RESIDENTIAL • Turnover higher due to production level; • Break-even result, comparable with last year; • Restructuring completed with delay; reduction of approximately 200 fte; • Focus on improving project and risk management, also during design phase; • Decrease in order
Slide 24: Services and maintenance Ministry of Defense
Services and maintenance Ministry of Defense
Slide 25: Infra Netherlands
DEVELOPMENTS PER SECTOR INFRA NETHERLANDS • Turnover lower than last year; • 5-10 complex projects; • In total € 26 mln loss; • Improvements visible for regional projects, asset management and specialties (60% of turnover); • Improvement measures implemented; • Completion and opening for traffic of
Slide 26: Rail crossing Station Bilthoven
Rail crossing Station Bilthoven
Slide 27: A12 Veenendaal – Ede - Grijsoord
A12 Veenendaal – Ede - Grijsoord
Slide 28: Wilhelminakanaal, Tilburg
Wilhelminakanaal, Tilburg
Slide 29: Infra Belgium
DEVELOPMENTS PER SECTOR INFRA BELGIUM • Slight decrease in turnover and profitability, but still at excellent level; • Markt remains challenging, especially with public authorities; • Increase in order book; • R4 motorway in Gent was completed in 2015, start of construction N70 Sint Niklaas.
Slide 30: N70 Sint Niklaas (B)
N70 Sint Niklaas (B)
Slide 31: Infra Germany
DEVELOPMENTS PER SECTOR INFRA GERMANY • Positive market developments, especially in non residential; • Effects of completed Oevermann restructuring noticeable; • Clear improvement of operating margin; • Improvement of operational focus Franki, first effects visible.
Slide 32: Oevermann Erpho-Bogen Münster (D)
Oevermann Erpho-Bogen Münster (D)
Slide 33: Franki Hammer Strasse, Hamburg (D)
Franki Hammer Strasse, Hamburg (D)
Slide 34: Balance sheet and cash flow
Balance sheet Q4 Q4 Balance sheet and cash flow (in million €) 2015 2014 Fixed assets 380 364 Working capital (excl. cash and cash equivalents) -73 -37 • Working capital improved, mainly due to Funding requirement 307 327 lower receivables; Equity 266 259 • Solvency solid at 26% (End of 2014: 27%);
Slide 35: Funding lender’s syndicate
Funding lender’s syndicate • As of April 1, € 256 mln committed facility until 30 June 2018; • ICR to be tested on quarterly basis as of Q1, per Q4 2016 at level of 4; • Impacted by sector wide events; • Goal: to structurally improve debt / ebitda ratio.
Slide 36: Appendix
Amounts x € 1 million 2015 2014 Interest bearing debt 135,1 105,2 Minus: cash and cash equivalents 125,4 73,8 Net debt 9,7 31,4 Appendix Adjustments: Net debt Joint Ventures Net debt non recourse project finance 74,0 -80,8 76,0 -53,0 Cumulative preference shares B -45,1 -66,1 Other -4,0 -0,7 Net deb
Slide 37: 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 25, 2016. The information may not be further distributed or passed on
Slide 38: Heijmans
heijmans bi yy HeijmansNL Ei HeijmansNL www.heijmans.nt rite HeijmansNV ‘in| Heijmans