Second half bounce-back for Heijmans

By Chris Sleight11 March 2010

Heijmans' profits recovered in the second half of 2009, but the company still recorded a loss for the year as a whole. Its revenues for 2009 were € 3,08 billion, a -15,3% decline on 2008. It made an operating loss of € 7 million - half the size of the € 14 million loss seen in 2008. Net profits however were worse than 2008, with the company recording a loss of € 40 million, compared to 2008's net loss of € 34 million.

But as far as last year was concerned, the company saw a marked improvement in the second half of the year. Although revenues were down -16,7% to € 1,59 billion, Heijmans achieved an operating profit of € 12 million, which translated to a net profit of € 3 million. These compared to an operating loss of € 27 million for the second half of 2008 and a net loss of € 36 million.

Executive Board chairman Rob van Gelder said, "2009 was a year with two distinct halves. Following negative results in the first six months there was a recovery in the second half of the year. We made fundamental changes which have delivered results."

Among the measures the company has taken is a downsizing of its activities with a focus on the Netherlands. It has also made financial changes, with a share issue and reduction of its debt.

The biggest fall in revenues last year was seen in the company's property development business, where activity dropped -43% to € 733 million. In fact all of Heijmans' divisions saw revenues fall last year, but there was a return to profitability for its residential building business and infrastructure division

The company's order book at the end of the year stood at € 2.6 billion, a slight rise on the position at the end of June 2009.

Latest News
Palfinger crawler crane chosen for power plant lift
Crane on site for lift at pumped storage power plant in Bergheim, Austria
Wheeled mobile crane installs 8.5MW wind turbine
First job for China’s 2,600 tonne capacity all terrain crane built by XCMG