Imtech maintains forecasts for further growth in 2009
Gouda, the Netherlands - Imtech (technical service provider in
Europe) maintains its outlook for the full year of 2009 and expects a
further increase in EBITA through organic growth and acquisitions. In
the first quarter of 2009 the order book developed in line with the
developments in the corresponding period of previous years.
Imtech CEO Dr René van der Bruggen said: 'Imtech is holding its own
in the face of unfavourable economic conditions by growing its
activities in all European divisions and in the global maritime
market. The order book developed well in the first quarter of 2009.
Our financial position remains healthy. While we are not immune to
the consequences of the economic crisis, our portfolio of technical
core competences combined with strong positions in numerous market
segments spread across more than 19,500 customers makes us less
sensitive and highly flexible. We believe in our own strength and
that is why we are maintaining our outlook for further growth in 2009
and our long-term growth objectives for 2012.'
Further growth across a broad front
As expected all Imtech divisions achieved further revenue growth. In
the Benelux countries Imtech is successfully focusing in the energy
market on technical solutions - including total solutions - for
projects like high-tech power stations and 'green' low-energy
lighting. In Germany Imtech won sizeable contracts not only in the
energy market, but also from the pharmaceutical industry, for
conference and sports centres and in the healthcare sector. The
European soccer championship in Poland in 2012 will have a positive
effect for Imtech, including new orders in the hotel sector. In the
UK & Ireland, too, Imtech is successfully directing its efforts
towards the energy market, in projects including the building of
advanced bio-fermentation stations that generate energy from sludge.
Besides, Imtech is benefiting in the UK from the Olympic Games in
London in 2012. In Spain, Imtech has grown into one of the strongest
players in the maintenance market, especially in industry (oil, gas,
chemical and petrochemical industries). NVS, acquired last year in
Scandinavia, is developing well with a widely based stream of midsize
and smaller contracts and a growing position in the energy market.
Two well-performing companies were taken over to strengthen the
portfolio in Scandinavia, i.e. a maintenance company and a mechanical
engineering process specialist. In the ICT market, Imtech is
comfortably holding its own in Europe, thanks in part to a strong
portfolio that combines hardware, software and managed IT services in
numerous market segments. The large number of long-term maintenance
contracts and intelligent traffic solutions in the Traffic market are
generating a more or less stable flow of income. Imtech made progress
in the maritime market with orders for German navy frigates, a large
cruise ship and luxury yachts (including some mega-yachts). Imtech
has noticed in a number of markets the first cautiously positive
signals of reviving government investments as a result of economic
stimulation programmes.
Healthy financial position
Imtech's financial position remains stabile and is still well within
the margins of the covenants concluded with banks. Partly in response
to the prevailing economic conditions, Imtech is directing a lot of
attention towards the development of its cash position and to the
control of its working capital and indirect costs.
Confidence in Imtech's strength
Imtech is not immune to the effects of the economic crisis and a few
of its 19,500 customers have either time-shifted projects or
temporarily postponed them. As a result of increasing competition
Imtech expects to experience in due course some pressure on its
prices. Against this, however, the Imtech portfolio (the strong
combination of electrical engineering, ICT and mechanical engineering
spread across numerous of countries and market segments) and flexible
project organisation make Imtech resilient. Imtech is maintaining a
good balance and believes in its own strength. This is underscored by
the success of large-scale recruitment campaigns for technical
personnel.
Imtech maintains outlook and long-term growth objectives
According to its current views, Imtech expects a further increase of
its EBITA in 2009 through organic growth and acquisitions. Imtech is
fully maintaining its long-term strategic plan for reaching in 2012
revenues of 5 billion euro (2008: more than 3.8 billion euro) with an
operational EBITA margin target of 6% (2008: 5.5%).
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Financial Calendar
* 11 August 2009: Half-year results 2009
* 28 October 2009: Trading update for third quarter 2009
* 16 February 2010: Annual results 2009
More Information
Media Investor Relations
Mark Salomons Jeroen Leenaers
Company Secretary Manager Investor Relations
Telephone: + 31 182 54 35 14 Telephone: + 31 182 54 35 04
E-mail: pers@imtech.eu E-mail: investors@imtech.eu
www.imtech.eu www.investors.imtech.eu
Imtech profile
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/mobility 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
19,500 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.
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