Imtech: publishes preliminary annual figures for 2012

(PresseBox) ( Gouda, )
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Publication of preliminary annual figures important next step in recovery plan
Net loss of 226 million Euro in 2012
Adjusted annual figures and opening balance sheet for 2011
Annual report, definite annual figures and the audited annual accounts expected early June 2013
Revenues in 2012 increased by 8% to 5.5 billion Euro


Royal Imtech N.V. today publishes its preliminary annual figures for 2012. The annual report, the definite annual figures, and the audited annual accounts by the accountant are expected in early June 2013. The annual accounts will be discussed at the Annual General Meeting of shareholders on June 28, 2013 and presented for adoption to a yet to be planned Extraordinary General Meeting of shareholders at the end of July 2013.

Gerard van de Aast, CEO; "With the publication of the preliminary annual figures for 2012, Imtech makes an important next step in its recovery plan. Publication of the annual accounts and the investigation report in early June is the next important milestone. We continue to execute our plans announced on February 27 with focus on organic growth, operational excellence, reinforcement of the business controls and the establishment of a solid financial structure."

Preliminary consolidated annual figures 2012

For the preliminary consolidated annual figures 2012 reference is made to the appendix of this press release. The preliminary results in 2012 show a net loss of 226 million Euro. In these preliminary results among others the effects have been included of a later closing date and the connected progressive insights. Also an appropriate realistic approach has been used in the application of our accounting principles. The preliminary annual figures for 2012 will be discussed with our lenders. These discussions are focused on obtaining a definite waiver as a logical continuation on the earlier concluded continuation agreement. After the finalization of the waiver process, expected early June 2013, the annual accounts audited by the accountant will be available.

Adjustment figures 2011

For the adjusted figures for 2011 and the adjusted opening balance sheet 2011 reference is made to the appendix of this press release. The annual accounts 2011 published the previous year therefore no longer present the required true and fair view. This has been announced earlier in our press release of April 23, 2013. The net result of 2011 has been adjusted by 54,6 million Euro. The correction to the shareholders equity on the opening balance sheet amounts to 54,7 million Euro. In regards to the annual accounts 2011, the in art. 2:362 section 6 Dutch Civil Code (BW) intended announcements and auditor's report will be deposited.

Poland and Germany

The investigations in Poland and Germany are in the process of being finalized. As announced earlier, the company will publish the final report in early June 2013. In this report the findings of these investigations will be presented. The write-offs in Poland and Germany amount, as reported on April 23 2013, to 370 million Euro (pre-tax).

Rights issue

On February 27, 2013 Imtech announced the intention to strengthen its shareholders' equity with a rights issue of 500 million Euro. The proceeds of the issue will, after the deduction of costs, be fully utilized for debt reduction, resulting in a reinforcement of Imtech's capital structure. A more extensive explanation of the rights issue is included in the agenda of the Annual General Meeting of shareholders, published on the company website (www.imtech.com). The decision necessary to execute the rights issue will be submitted to the Annual General Meeting of shareholders on June 28, 2013. The announced rights issue is expected to be completed this summer.

Disclaimer

Please read this carefully as it applies to all persons who read this press release. This press release contains information and documents relating to an offer, through a rights issue, of new shares of Royal Imtech N.V. You may not be eligible to view the contents of that information and those documents. Accordingly, if you wish to read this information you must first inform yourself about and then observe the statutory and regulatory requirements applicable to you and to your jurisdiction. In order to establish whether or not you may view the information and documents please read the disclaimer below in full.

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This press release is for information purposes only and is not intended to constitute, and should not be construed as, an offer to sell or a solicitation of any offer to buy securities of Royal Imtech N.V. (the "Company", and such securities, the "Securities") in the United States, Australia, Canada or Japan or in any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction.

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The Company has not authorized any offer to the public of Securities in any Member State of the European Economic Area other than the Netherlands. With respect to any Member State of the European Economic Area, other than the Netherlands, and which has implemented the Prospectus Directive (each a "Relevant Member State"), no action has been undertaken or will be undertaken to make an offer to the public of Securities requiring publication of a prospectus in any Relevant Member State. As a result, the Securities may only be offered in Relevant Member States (i) to any legal entity which is a qualified investor as defined in the Prospectus Directive; or (ii) in any other circumstances falling within Article 3(2) of the Prospectus Directive. For the purpose of this paragraph, the expression "offer of securities to the public" means the communication in any form and by any means of sufficient information on the terms of the offer and the Securities to be offered so as to enable the investor to decide to exercise, purchase or subscribe for the securities, as the same may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State and the expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including Directive 2010/73/EU, to the extent implemented in the Relevant Member State), and includes any relevant implementing measure in the Relevant Member State.

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This press release does not constitute a prospectus within the meaning of the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht) and does not constitute an offer to acquire securities.

Any offer to acquire Securities pursuant to the proposed offering will be made, and any investor should make his investment, solely on the basis of information that will be contained in the prospectus to be made generally available in the Netherlands in connection with such offering. When made generally available, copies of the prospectus may be obtained at no cost from the Company or through the website of the Company.
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