Koninklijke Heijmans N.v. · EURONEXT:HEIJM
Koninklijke Heijmans — Heijmans — FY2013 Earnings Presentation
30 slides from Koninklijke Heijmans's earnings presentation, Feb 27, 2014
Slide 1: Annual Results 2013
ANNUAL RESULTS 2013 February 27, 2014 Executive Board Heijmans N.V.
Slide 2: Heijmans records modest result in 2013 despite tough year
“Heijmans records modest result in 2013 despite tough year ” Bert van der Els- chairman Heijmans Executive Board
Slide 3: FY 2013 – Highlights
FY 2013 – Highlights Another challenging year; Residential: Recessional turnover, slightly positive outlook; Non-residential: Organisation improved. Black figures for 2013; Infra: Decrease in market volumes, good performance on quality.
Slide 4: FY 2013 – Highlights
FY 2013 – Highlights Good results Infra in Belgium and Germany, declining results in The Netherlands; Non-residential improved, Residential small loss and Property development stable; Turnover down, mainly for Residential; Number of houses sold: 1.082, percentage sold to private buyers increased; So
Slide 5: FY 2013 – Improvement and Revitalisation
FY 2013 – Improvement and Revitalisation • Uniformity of processes; • Tender management, Project management, Procurement & Commerce; • Strong position for PPP with Heijmans Capital joint-venture; • Smart technological concepts -> Applicable sustainable solutions: o Hydrea Thermpipe o Greenway LE o 3
Slide 6: FY 2013 - Progress
FY 2013 - Progress Technology campus DSM (Delft) Integrated variable maintenance contracts RWS (Public Works and Water mgt) ‘Laurentius’ Hospital Roermond Holiday parc ‘Duynhille’ ‘Wilhelmina’ lock Zaandam Technical installations Schiphol Airport A1 motorway Bocklemünd-Köln North ‘Wijnhaven’ area Th
Slide 7: Outlook
Outlook • First signs of recovery in the Dutch housing market; • Stable perspective Non-residential, market for Infra remains challenging; • 2014 promising for PPP; • Heijmans focus continuous on: o Improve the core o Risk- and cost control o Integrated approach o Innovative power • Solid capital ba
Slide 8: Capital position remains strong, solvency ratio at 29%
“Heijmans records modest result in 2013 despite tough year ” Capital position remains strong, solvency ratio at 29% Mark van den Biggelaar - CFO and member of Heijmans Executive Board
Slide 9: Developments per sector: Property Development
x € 1 million 2013 2012 Revenues 163 257 Underlying operating result 1 1 Underlying operating margin 0,6% 0,4% Order book 190 139 DEVELOPMENTS PER SECTOR PROPERTY DEVELOPMENT • Material decrease of revenues, underlying operational result stable; • 1.082 houses sold (2012: 1.081), of which 542 in Q4;
Slide 10: Positions in development and strategic positions
Strategic positions e.g.: - Nieuwerkerk a/d IJssel - Leek/Roden - Almere Positions ‘In development’ e.g.: - Berkel-Enschot ‘Koningsoord’ - Gouda ‘Westergouwe’ - Zutphen ‘Reesink’
Slide 11: Developments per sector: Residential Building
x € 1 million 2013 2012 Revenues 223 360 Underlying operating result -3 1 Underlying operating margin -1,3% 0,3% Order book 173 182 DEVELOPMENTS PER SECTOR RESIDENTIAL BUILDING • Strong decline in turnover and result versus 2012; • Restructuring completed, more than 250 jobs fell due; • Heijmans ant
Slide 12: Developments per sector: Non-Residential
x € 1 million 2013 2012 Revenues 466 470 Underlying operating result 2 -13 Underlying operating margin 0,4% -2,8% Order book 511 606 DEVELOPMENTS PER SECTOR NON-RESIDENTIAL • Positive operational result; • Turnover in line with previous year; • Continuous focus on process improvements; • Niche profi
Slide 13: Developments per sector: Roads & Civil
x € 1 million 2013 2012 Revenues 751 812 Underlying operating result 16 35 Underlying operating margin 2,1% 4,3% Order book 576 771 DEVELOPMENTS PER SECTOR ROADS & CIVIL • Market volumes recedes, especially in second half of 2013; • Positive operational results, lower than exceptional good performan
Slide 14: Developments per sector: International Belgium
x € 1 million 2013 2012 Revenues 251 252 Underlying operating result 13 13 Underlying operating margin 5,2% 5,2% Order book 203 224 DEVELOPMENTS PER SECTOR INTERNATIONAL: BELGIUM • Stable turnover with good operating results; • Good results for both Heijmans Infra (Roads) as for Van den Berg (Civil
Slide 15: Developments per sector: International Germany
x € 1 million 2013 2012 Revenues 344 356 Underlying operating result 6 6 Underlying operating margin 1,7% 1,7% Order book 165 182 DEVELOPMENTS PER SECTOR INTERNATIONAL: GERMANY • Results Germany at same level as 2012; • Oevermann wins larger infra projects like A1 motorway (Bocklemünd-Köln) and A4 m
Slide 16: Key Figures FY 2013
KEY FIGURES FY 2013 x € 1 million 2013 2012 Revenues 2.054 2.318 Underlying operating result 23 27 Write down on property assets -7 -35 Impairment of goodwill -60 Restructuring costs -7 -29 Exceptional release pension provision 4 15 Result of disposals -5 Operating result 13 -87 • Restructuring cost
Slide 17: Balance Sheet, Cash Flow and Funding
BALANCE SHEET, CASH FLOW AND FUNDING Condensed Balance Sheet 31 december 31 december x € 1 million 2013 2012 Fixed assets 329 349 Working capital (excl. cash and cash equivalents) 168 158 Capital invested 497 507 Equity 315 315 Provisions (non-current) 41 43 Net debt 141 149 Financing 497 507 • Smal
Slide 18: Summary
SUMMARY 2013 was a tough year; 2014 is expected to be a year of transition towards recovery; Solid financial position; Distinctive proposition with combination of Improvement and Revitalisation .
Slide 19: We are building the spatial contours of tomorrow
we are building the spatial contours of tomorrow
Slide 20: Project in focus: 3D printed canal house Amsterdam
Project in focus #3D printed canal house Amsterdam
Slide 21: Annex: Land positions
ANNEX: Land positions Total landbank as per end of 2013: Strategic land 95 Land in development* 218 Totaal 313 M € • Individual valuation per position • All positions evaluated periodically • Impairment in case of lower net cash value (NCW) of the position o Positive sales results (buildings) are no
Slide 22: Project in focus: Wijnhavenkwartier The Hague
Project in focus #Wijnhavenkwartier-The Hague
Slide 23: Project in focus: Railroads 's-Hertogenbosch
Project in focus #Railroads ‘s-Hertogenbosch
Slide 24: Project in focus: Music Palace Utrecht
Project in focus #Music Palace Utrecht
Slide 25: Project in focus: St. Pauli Landungsbrücken, Hamburg
Project in focus #St. Pauli Ländungsbrucken, Hamburg 25
Slide 26: Project in focus: Citadel Assen
Project in focus #Citadel Assen
Slide 27: Project in focus: Asset management Schiphol
Project in focus #Assetmanagement - Schiphol
Slide 28: Project in focus: Smart Highway
Project in focus #Smart Highway
Slide 29: 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 27, 2014. The information may not be further distributed or passed on
Slide 30: Heijmans N.V.
HEIJMANS N.V. PO Box 2 5240 BB Rosmalen, The Netherlands info@heijmans.nl www.heijmans.nl, http://twitter.com/HeijmansNL