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Stable revenue in 2013 provides platform for recovery

Stable revenue in 2013 provides platform for recovery. Presentation Q3 2013 results 7 November 2013 Gerard van de Aast, CEO Hans Turkesteen, CFO. Highlights Q3 2013 results. Revenue in the quarter 1,256 million euro (Q2 2013: 1,274 million euro)

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Stable revenue in 2013 provides platform for recovery

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  1. Stable revenue in 2013 provides platform for recovery

    Presentation Q3 2013 results 7 November 2013 Gerard van de Aast, CEO Hans Turkesteen, CFO
  2. Highlights Q3 2013 results Revenue in the quarter 1,256 million euro (Q2 2013: 1,274 million euro) Operational EBITDA in the quarter -4 million euro (Q2 2013: -33 million euro) Order intake YTD 2013 3,628 million euro, in line with revenue Working capital Q3 stable versus Q2 despite regular seasonal increases Earlier announced restructuring program largely completed and extended Operational recovery Germany requiring more time; additional restructuring announced Constructive dialogue covenant reset started
  3. Back to running the business Operational update Q3 2013 Financials Q3 2013
  4. Restructuring program largely completed and extended Increase of 650 FTE reduction for 2013 is mainly in Eastern Europe (230 FTEs, downsizing business), Nordic (240 FTEs, capture integration benefits) and Marine (60 FTEs improving efficiency) Majority of the FTE reductions 2013 in Germany & Eastern Europe (780 FTEs), Benelux (350 FTEs), Traffic & Infra (240 FTEs), Nordic (240 FTEs) and Marine (150 FTEs) Total average payback time is 15 months Additional reduction of 300 FTEs in Germany for 2014
  5. Operational update Q3 2013
  6. Operational update Q3 2013
  7. Good new projects Industrial technology Upgrading cleanrooms at Pfizer facilities in Ireland Infra technology 7 years maintenance and project contract at Dutch energy network provider Stedin for part of their network in the Province of Utrecht (NL) Building technology DBFMO contract for new to be build Penitentiary Zaandam (NL) including 25 years responsibility of technical infrastructure Marine technology Delivering of HVAC systems plus redundant cold and warm water supply systems for German research vessel ‘Sonne’
  8. Order intake first nine months 2013
  9. Stable revenue provides platform for recovery
  10. Back to running the business Operational update Q3 2013 Financials Q3 2013
  11. Group performance Pro rata allocation of 2012 adjustments
  12. Breakdown operational EBITDA performance
  13. Balance sheet * Equity before completion of rights issue of ordinary shares and issue of cumulative financing preference shares
  14. Balance sheet – equity movement
  15. Balance sheet – working capital Other current liabilities Q3 2013 includes accrued project expenses (€125m), accrued personnel expenses (€183m), deferred income (€65m), VAT payable (€39m) and various other accrued liabilities
  16. Aging of trade receivables
  17. Balance sheet – net interest-bearing debt
  18. Extraordinary items first nine months *Including extended restructuring program, but excluding additional redundancies in Germany in 2014
  19. Q&A
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