Stable result for VolkerWessels in first six months
Financial position further strengthened. Operating profit (EBITDA) in first semester: € 74 million (1st semester 2013: € 63 million) Net profit in first semester: € 35 million (1st semester 2013: € 32 million) Revenue in first semester: € 2.0 billion ( 1st semester 2013: € 2.0 billion) Order book at 30 June 2014: € 5.9 billion (year-end 2013: € 6.1 billion).
VolkerWessels posted a solid result in the first six months, despite the still worrying market conditions in a number of sectors in the Netherlands. Although there appear to be some prospects of improvements on the housing market in the Netherlands, Building & Property Development and the Infrastructure market are still affected by overcapacity, which continues to depress prices.
The robust overall performance is attributable to operational and financial discipline, an approach which combines capitalising on opportunities, whilst placing the focus on margin rather than volume, cost management and a healthy risk/return ratio. Once again, a number of new, high-profile contracts were secured, such as the construction of a university building for the VU University Amsterdam, work on ‘Room for the River' programme, and the Dudgeon and Westermeerwind offshore projects.
Jan van Rooijen, CFO, said: "All sectors at VolkerWessels once again achieved a positive operating result. Our solid financial position enables us to exploit opportunities and invest in activities which impact positively on the future progression of our results. Agreement has been reached with seven banks on the continuation of our working capital financing until mid-2019. We are very pleased that the terms of this financing reflect our healthy financial position."
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