31. Januar 2012 
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Heijmans expects net loss of € 40 million
Heijmans reports ahead of the publication of the 2011 annual results on 1 March, that it expects to report a net loss of at most € 40 million for the full year 2011, largely due to non-cash value adjustments on property assets. Heijmans expects the underlying operating results for 2011 to be approximately € 25 million. The company's capital position remains solid, with a solvency ratio above 30%. Heijmans intends to pay a dividend over 2011 based on net profit excluding extraordinary items.
Write-down due to persistently weak housing market
The outlook for the housing market remains poor. As a result, Heijmans expects to report a devaluation of at most € 45 million on its property positions. These (non-cash) value adjustments relate to both strategic land positions as well as projects under development. Also, Heijmans presumes there will be a goodwill impairment of around € 10 million on the real estate part of the IBC acquisition made in 2001.
Loss and measures for prefab and Non-Residential building
The operational results at Road Building, Civil Engineering and Residential building remain at solid, positive levels, while the results in Non-Residential Building and prefab are expected to be more negative than foreseen before. In Non-Residential Building, where the losses were mostly related to higher costs for project acquisition and meagre quality in execution, changes in management and project control are implemented.
Also the organisation for this business area will be adjusted, mainly on the sales side. As announced previously, Heijmans intends to transform prefab (Bestcon) into an internal production facility. This will result in the loss of two-thirds of all jobs at prefab. All reorganisation measures were initiated in the fourth quarter. Heijmans will record in its 2011 results, reorganisation costs for an expected maximum of € 10 million.
Strong financial position
The company's capital position remains solid. The solvency ratio as per year-end 2011 is expected to be above 30% while Heijmans has as per year-end 2011 not used its available syndicated credit facility. The annual results will be published pre-bourse on 1 March.
Write-down due to persistently weak housing market
The outlook for the housing market remains poor. As a result, Heijmans expects to report a devaluation of at most € 45 million on its property positions. These (non-cash) value adjustments relate to both strategic land positions as well as projects under development. Also, Heijmans presumes there will be a goodwill impairment of around € 10 million on the real estate part of the IBC acquisition made in 2001.
Loss and measures for prefab and Non-Residential building
The operational results at Road Building, Civil Engineering and Residential building remain at solid, positive levels, while the results in Non-Residential Building and prefab are expected to be more negative than foreseen before. In Non-Residential Building, where the losses were mostly related to higher costs for project acquisition and meagre quality in execution, changes in management and project control are implemented.
Also the organisation for this business area will be adjusted, mainly on the sales side. As announced previously, Heijmans intends to transform prefab (Bestcon) into an internal production facility. This will result in the loss of two-thirds of all jobs at prefab. All reorganisation measures were initiated in the fourth quarter. Heijmans will record in its 2011 results, reorganisation costs for an expected maximum of € 10 million.
Strong financial position
The company's capital position remains solid. The solvency ratio as per year-end 2011 is expected to be above 30% while Heijmans has as per year-end 2011 not used its available syndicated credit facility. The annual results will be published pre-bourse on 1 March.
