Heijmans: Further improvement result

Highlights:

• Underlying EBITDA (excl. IFRS 16) improves in first half: € 25 million (first-half 2018: € 20 million), with all business units making a positive contribution;
• Revenue lower in first half: € 730 million (first half 2018: € 780 million);
• Number of homes sold comparable with last year: 1,061 homes sold in first half of 2019 (1,065 homes sold in the first half of 2018);
• Net result after taxes € 15 million (first half of 2018: € 8 million);
• Order book increases to € 2.1 billion at end-June (year-end 2018: € 2.0 billion);
• Net debt (excl. IFRS 16) € 23 million at end-June 2019 (end-June 2018: € 14 million).

Ton Hillen, Chairman of the Executive Board/CEO Heijmans:
‘We continued the positive start we made in the early part of the year. There is generally enough work in all the markets in which we are active, but making the right decisions in terms of order intake remains crucial. Despite the lower revenues, caused by the delayed construction start of several inner city property development projects, we managed to further improve our result. This was partly thanks to our selective intake policy. The underlying EBITDA, excluding IFRS 16, increased by 25% to € 25 million and the net margin doubled to 2%. In addition to the improvement of our underlying EBITDA, this was due to the fact that over the past few years we have managed to significantly reduce our financing expenses. We are on the right path to once again making Heijmans a robust company. On the basis of our balanced mix of activities, which are developing in line with expectations, we are looking forward to the second half of this year with confidence.’

About Heijmans
Heijmans is a listed company that combines activities related to property development, building & technology, roads and civil engineering in the areas living, working and connecting. Our constant focus on quality improvements, innovation and integrated solutions enables us to generate added value for our clients. Heijmans realises projects for private consumers, companies and public sector bodies, and together we are building the spatial contours of tomorrow. You will find additional information at our website: www.heijmans.nl.

For more information / not for publication:

Media
Rik Hammer
Communications
+31 73 543 52 17
rhammer@heijmans.nl

Analysts
Guido Peters
Investor Relations
+ 31 73 543 52 17
gpeters@heijmans.nl

This press release is published in both Dutch and English. In the event of differences between the Dutch and the English version, the former shall prevail.

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