Imtech: order book up by 5% to 4.7 billion euro
Increase in 2009 operational EBITA margin / A comfortable starting position for 2010 / The 2012 strategic growth plan targets remain unchanged
2009: a good year for Imtech
2009 was a good year for Imtech. As forecasted in February 2009, Imtech once again achieved a further increase of EBITA through organic growth and acquisitions.
René van der Bruggen: 'In 2009 Imtech proved itself capable of withstanding the economic recession. Imtech's strength - hightech multidisciplinary technical total solutions through the combination of electrical engineering, ICT (information and communication technology) and mechanical engineering - proved its value in the current market. Over 2009, as in previous years, we will also achieve a further increase in the operational EBITA margin (2008: 5.5%). In the current market conditions this is an excellent performance. '
'Despite challenging economic conditions with pressure on market volumes and margins Imtech succeeded in building up a higher order book for 2010. This instils confidence and offers a comfortable starting position for the coming year', according to Van der Bruggen.
The fast growing demand for 'green' technology was a major driver of the positive development. Van der Bruggen: 'Imtech is one of the strongest technical players in the field of energy technology in Europe. Integrating energy solutions into our total approach enables us to deliver added value. The result is reduced energy usage, reduced CO2 emissions, improved exploitation and a contribution towards the sustainability objectives of our customers in both the profit and nonprofit sectors. Examples include 'green' buildings, 'green' data centres, 'green' stadiums and (decentralised) power plants.'
A broad portfolio Imtech's broad portfolio is one of its strengths. Strong market positions, size, an extensive portfolio of services and a well diversified base of nearly 20,000 customers in countless market segments make continuity, and therefore further growth, possible. Another Imtech hallmark that has been proven in the past and that instils confidence in the future is its flexible project organisation that can adapt readily to changing market conditions.
A year of integrating acquisitions
Acquisitions are one of the strategic cornerstones for further growth. After a very busy acquisition year in 2008 with a major acquisition in Nordic (NVS, 2,300 employees) and another ten mediumsized and smaller acquisitions, 2009 was a year of integrating these acquisitions. Imtech foresees good opportunities to strengthen its portfolio still further through acquisitions in the coming years.
In 2009 Imtech was strengthened still further through acquisitions in Spain, Sweden, Norway and Romania. In total these acquisitions involved 525 technical specialists and revenue of approximately 40 million euro. The acquisition of the Spanish Huguet and the Romanian Arconi are particularly important anchor points for further growth in Spain and Eastern Europe respectively.
A proactive policy
In the context of the current challenging market conditions Imtech is conducting a proactive policy. Considerable attention is being paid to the control of working capital, risk management, cost control, the financial strenght of customers and cooperation partners, subcontracting and reinforcing the internal European cooperation.
No change to the 2012 strategic growth plan target
Imtech is well on course to meet its 2012 strategic growth plan targets: revenue of 5 billion euro (2008: over 3.8 billion euro), while maintaining an operational EBITA margin target of 6%. Imtech's balance sheet is solid and it has sufficient financial means to carry out its growth strategy. René van der Bruggen: 'We look forward to the future with confidence.'
Imtech will present its 2009 figures on 16 February 2010.
Imtech Contracting GmbH
Imtech N.V. is a European technical services provider in the fields of electrical engineering, ICT and mechanical engineering. With over 22,500 employees, Imtech achieves annual revenue of around 3.8 billion euro. Imtech holds strong positions in the buildings, industry and infrastructure/traffic markets in the Netherlands, Belgium, Luxembourg, Germany, Eastern Europe, Nordic, the UK, Ireland and Spain and in the global marine market. In total Imtech serves nearly 20,000 customers. Imtech offers added value in the form of 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 mobility. Imtech shares are listed on the Euronext Stock Exchange Amsterdam, where Imtech is included in the Midkap Index. Imtech shares are also included in the Dow Jones STOXX 600 index.