Imtech N.V. : Trading update Q1 2012: robust growth in order book, maintaining 2012 EBITA growth outlook

24 april 2012 Gouda - Royal Imtech NV (technical services provider in and outside Europe) has seen a robust increase in its order book during the first quarter of 2012, as compared with the same period last year. Imtech is firmly on course and maintains its outlook for the entire year 2012 with a further increase in EBITA, through organic growth and acquisitions. Imtech also maintains its long-term strategic plan to achieve revenue of 8 billion euro by 2015 with an operational EBITA margin between 6% and 7%. René van der Bruggen, CEO Imtech: 'During the first few months of 2012, the order book showed robust growth, both organic and by means of acquisitions. In Germany and Eastern Europe, the Nordic region, the UK & Ireland and the European ICT market, Imtech is developing well. In particular in the UK & Ireland and the Nordic region, the growth of the order book is strong. In the European traffic market Imtech shows modest growth. In the Benelux and Spain the markets are challenging. In the global marine market the new build portfolio is slowing down, in particular in North-Western Europe. On the other hand, maintenance, services and activities outside Europe are growing. The healthy financial position remains unchanged. Imtech maintains both the outlook for further growth in EBITA in 2012 as its long-term growth target for 2015.' Germany and Eastern Europe Imtech continues to perform outstandingly in Germany and the order book shows a healthy growth. Imtech is an outperformer within the energy market with a wide range of activities, including energy efficiency in buildings, stadiums and industrial markets. Furthermore, Imtech is leading in the segments combined heat and power plants, decentralised power plants, biomass plants and waste processing plants. German expertise increasingly finds its way into Europe. Good examples are energy efficient waste processing plants currently being realised in Warsaw in Poland and Plymouth in the UK. Furthermore, excellent progress is achieved in the markets of research centres, healthcare, data centres, the aviation industry and airports, and the automotive industry. In Eastern Europe, strong growth is achieved, in particular in Poland. The order book in Hungary has also increased. The position in Rumania is stable. Nordic In the Nordic region (Sweden, Norway and Finland), the market shows a limited growth. Imtech however, manages to leverage this, with a robust growth in the order book as a result. The integration of the Imtech companies NVS (mechanical solutions), NEA (electrical solutions) and Sydtotal (energy technology) is gaining momentum. The bundling of technical competencies makes it possible to offer customers total technical solutions. Combined with the involvement in bigger or major projects in retail, traffic tunnels, care and research centres, this further increases the average project size. Minor acquisitions have allowed for covering geographical 'white spots'. UK & Ireland, Spain, Turkey In the UK - despite not simple market conditions - there is a healthy growth. This is achieved both by the scale of activities with national coverage and by the strategic policy focusing on energy savings, 'green' buildings, technical maintenance and management, education, airports, waste water treatment and in particular strong growth from advanced energy extraction from sewage residue ('advanced digestion'). The in 2011 acquired companies Inviron (technical maintenance and management) and Smith Group (regional player around Manchester with energy competencies) are developing well, with active collaboration with the existing activities leading to order growth. From the Irish basis, Imtech successfully focusses on technology export of specific technical competencies in the field of electrical services and instrumentation (E&I), among others to Kazakhstan, the Middle-East, the Nordic region and other European countries. As a consequence of challenging market conditions, Spain is experiencing fierce competition. This fact, and due to the completion a number of bigger projects, the order book has decreased, both in the industrial market and the buildings market. The staffing levels have been adjusted accordingly. A growing order book within the energy market, the maintenance market for buildings and care is offering some degree of compensation. With the acquisition of AE Arma-Elektropanç - recently approved by the Turkish Competition Authority - Imtech has obtained a strong position in Turkey. At the same time, Imtech has created stepping stones into emerging markets such as the Middle East, Russia and various former Soviet republics. Large orders have been received in Russia recently. The new Turkish activities will be consolidated in the second quarter. Benelux Imtech holds a strong position in the industrial market in this region, with discerning technical know-how regarding power electronics, power plants, biomass plants, and oil and gas technology. The order book is developing well within these segments, also due to growing exports to countries outside Europe. The position within the infrastructure market remains stable. The buildings market is faced with difficult market conditions and fierce competition. Imtech is focussing on a strategic transition to energy, green technology, education, care & cure, export, data centres, and maintenance and management, where reasonable progress has been achieved. Furthermore, Imtech concentrates on cost savings, efficiency improvement, and bundling competencies and subsidiaries. The staffing levels are also being adjusted, for example by placing 150 employees in a flex pool to be deployed both internally and for third parties. On balance, the order book is decreasing. ICT, Traffic & Marine In the European ICT market customers ask for 'IT as a Service', shared and customer-specific configurable IT software and infrastructure without having to invest. Imtech's strategic focus is a perfect match. For this reason, Imtech shows healthy growth. The Swedish company Qbranch (private clouds technology), acquired last year is developing very well. The order book in the European traffic market is showing limited growth. The focus is on traffic management in and between various major cities within Europe, for instance in London and Copenhagen. A new traffic management system is ImFlow, enabling reduction of traffic queues, improvement of public transport and significant decrease of CO2 emissions. Within the global marine market, the maintenance and services activities further increase; however, the new build portfolio is slowing down, in particular in North-Western Europe. On the other hand, orders in China, Turkey and Canada are on the increase. Healthy financial position Imtech's financial position is stable and remains well within the margins of the covenants agreed with lenders. Maintaining 2012 outlook and 2015 long-term growth target According to its current views, Imtech expects a further increase in EBITA in 2012 through organic growth and acquisitions. Imtech also maintains its long- term strategic plan to achieve revenue of 8 billion euro (2011: 5.1 billion euro) in 2015 with an operational EBITA margin between 6% and 7% (2011: 6.1%). 0-0-0-0-0-0-0-0-0-0 Financial agenda * 31 July 2012: Half-year figures 2012 * 30 October 2012: Trading update third quarter 2012 * 5 February 2013: Annual figures 2012 More information Media: Analysts & Investors: Pieter Koenders Jeroen Leenaers Director Corporate Communications Manager Investor Relations T: +31 655 74 65 85 T: +31 182 54 35 04 E: pieter.koenders@imtech.eu E: jeroen.leenaers@imtech.eu www.imtech.eu www.imtech.eu Imtech profile Royal Imtech N.V. is a European technical services provider in the fields of electrical solutions, ICT (information and communication technology) and mechanical solutions. With 28,600 employees, Imtech achieves annual revenue of more than 5.1 billion euro. Imtech holds strong positions in the buildings and industry markets in the Netherlands, Belgium, Luxembourg, Germany, Austria, Eastern Europe, Sweden, Norway, Finland, the UK, Ireland, Turkey and Spain, the European markets of ICT and Traffic as well as in the global marine market. In total Imtech serves 23,000 customers. Imtech offers added value with 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 NYSE Euronext Amsterdam, where Imtech is included in the Midkap Index. Imtech shares are also included in the Dow Jones STOXX 600 index. pdf version of press release: http://hugin.info/130755/R/1605081/508122.pdf This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Imtech N.V. via Thomson Reuters ONE [HUG#1605081]