17.09.15

Increased operating profit for VolkerWessels

VolkerWessels has again achieved good results in the first six months. Despite ongoing challenging market conditions in a number of sectors in the Netherlands the operational profit increased to € 97 million. The company was also able to achieve a net debt reduction of € 90 million.

 

Solvency also increased from 23 to 26 percent compared to 30 June 2014. The order book is also stable.

 

CFO Jan van Rooijen said: “All VolkerWessels sectors have shown a profit for the first six months. The underlying results demonstrate even sharper increases, especially in Building and Property Development and in the UK. We have shown that our strong focus on operating results and risk management has enabled us to improve our financial performance.” 
 

Key figures

 

(in millions of   euros)

1st six months 2015

1st six months 2014

EBITDA

97

96

EBITDA margin

4.4%

4.7%

Net result

48

51

Revenue

2,215

2,040

Order book*

5,763

5,921

Solvency

26%

23%

 

 * Several recent contracts, including the courthouse in Breda and the IJmuiden sea lock have not yet been included in the order book.

 

The Netherlands - Building & Property Development

 

VolkerWessels has secured a number of Design, Build, Finance, Maintain & Operate (DBFMO) projects, such as the construction of the courthouse building in Breda. This building will accommodate the Zeeland-West-Brabant provinces’ court, the Zeeland-West-Brabant district public prosecutor’s office and the Child Welfare Council for the South-West region. New premises for the municipality of Westland are also being delivered.

VolkerWessels’ innovative concept for building new houses has been further developed. Not only is the company now capable of building houses in one day, it can also achieve the complete energy-efficient renovation of existing homes in that time.

 

The Netherlands - Infrastructure

 

The award of the DBFM contract for the IJmuiden Sea Lock means that VolkerWessels is helping to build the largest sea lock in the world. The innovative design comprises a lock which is 500 metres long, 70 metres wide and 18 metres deep. In Utrecht, a large car park is being constructed to accommodate 800 cars beneath the Jaarbeursplein square.

VolkerWessels is also demonstrating its strength in innovation with the introduction of the PlasticRoad. It is expected that the first test section will be presented within two years.

 

The Netherlands - Energy & Telecoms

 

Contracts have been signed for work on the Veja Mate offshore wind park and Rampion Offshore Wind Farm. The Veja Mate project comprises 67 monopiles of huge dimensions. The foundations weigh 1,300 tonnes each and are almost 8 metres in diameter.
By presenting its vision on the ‘Stad van de Toekomst’ (City of the Future), VolkerWessels is demonstrating how it can contribute to a future focusing on sustainability and quality of life.

 

VolkerWessels UK

 

New contracts secured include the reconstruction of a jetty at the naval base in Portsmouth to house the Queen Elizabeth class aircraft carriers, the construction of the wind turbine blade factory in Hull for Siemens and infrastructure improvement works for the Watford Health Campus. Various projects have also been awarded on a number of CP5 Network Rail programmes. A contract was awarded for the construction of the new Oswestry water treatment facility as part of the AMP6 framework for United Utilities.

 

VolkerWessels Canada/United States

In Canada, the Calgary road maintenance contract has been extended to the end of 2017. Next year will see a start on the 30-year maintenance contract for Anthony Henday Drive. A new branch office has been opened in Edmonton to service this contract delivering the work on the 27-kilometre-long six and eight lane highway. In America, VolkerWessels is seeing the benefit of the improved economy. Boeing has asked for additional projects to be carried out to enable the expansion of its airline business. These include infrastructural works to enable the construction of Dreamliner aircraft.

 

 

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