Significant reduction in net loss

 
  • Order intake in Q1 at a satisfactorily level of €912 million
  • Revenue 3% down excluding Germany & Eastern Europe
    • Revenue in Germany & Eastern Europe develops as expected
  • Operational EBITDA loss unchanged at €11 million
    • Gross margin not satisfactory, down €17 million
    • Indirect costs moving towards target, savings of €17 million
  • Net finance result in the quarter significantly reduced to €14 million
  • Net loss in Q1 improved to €49 million from €77 million loss in 2014
  • Operational working capital developed favourably to €34 million negative and at -0.9% of revenue
  • Net debt during the quarter increased to €416 million reflecting normal seasonal pattern

Key figures

in € million, unless otherwise indicated Q1 2015 Q1 2014
     
Revenue and other income 873.1 985.1
Gross margin 136.1 153.1
Indirect costs -147.1 -164.4
Operational EBITDA -11.0 -11.3
Non-operational costs -10.5 -8.0
Operating result (EBIT) -33.4 -32.9
Net result -49.0 -77.3
Order intake 912.2 1,010.5
Operational working capital -33.9 -4.2
Net interest-bearing debt 416.0 894.7
     
Margins    
Gross margin 15.6% 15.5%
Indirect costs -16.8% -16.6%
Operational EBITDA margin -1.2% -1.1%
     
Number of employees (in FTE, at end of period) 21,659 23,656
     

Unaudited figures

Gerard van de Aast, CEO: "Imtech has delivered a quarter in which 3 out of the 4 key operational improvement indicators showed satisfactory progress. Order intake and working capital are at or better than target and indirect costs are coming down and moving towards their target. Our gross margin needs to improve. Key to gross margin improvement is a step up in project execution which is a focus area for the company. With satisfactory progress on 3 out of the 4 key performance indicators we are improving our operational performance but there is still more work to do. For the full year, we confirm our outlook of a positive operational EBITDA."

Financial calendar 2015

  • 25 August 2015: second quarter and half year results 2015
  • 17 November 2015: third quarter results 2015

Press conference
Today at 9.00 hours (CET) Imtech will organise a conference call for media.

Analyst meeting
Today at 10.00 hours (CET) Imtech will organise a conference call for sell-side analysts. Dial-in details are +31 (0)20 717 6868, pin code 60348142#. This call will be transmitted live via the internet (www.imtech.com) and will afterwards also be available on the website as a replay.

More information

Media: Analysts & investors:
Dorien Wietsma
Director Corporate Communication & CSR
T: +31 182 54 35 53
E: dorien.wietsma@imtech.com
www.imtech.com		 Jeroen Leenaers
Director Investor Relations
T: +31 182 54 35 04
E: jeroen.leenaers@imtech.com
www.imtech.com

Imtech profile
Royal Imtech N.V. is a European technical services provider in the fields of electrical solutions, automation and mechanical solutions. With approximately 22,000 employees, Imtech holds attractive positions in the buildings and industry markets in the Netherlands, Belgium, Luxembourg, Germany, Eastern Europe, Sweden, Norway, Finland, the UK, Ireland and Spain, the European market of Traffic as well as in the global marine market. Imtech offers integrated and multidisciplinary total solutions that lead to better business processes and more efficiency for customers and the customers they, in their turn, serve. Imtech also offers solutions that contribute towards a sustainable society - for example, in the areas of energy, the environment, water and traffic. Imtech shares are listed on Euronext Amsterdam.


Pdf: Full press release incl. appendix


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Imtech via Globenewswire
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