CEO Sylvo Thijsen: "The Group has produced a resilient financial performance in the first half year. Our strong market position in the sectors Transportation, Environment, Water and Energy has helped us, despite considerable currency exchange effects, to deliver these results in an economic challenging climate."
Profit after tax € 15.4 million (2008: € 18.5 million) reflecting challenging Building and Industry sectors;
Strong market position in Transport and Environmental, Water and Energy sectors;
Organic growth in net revenue of 1%;
Forward order book improved;
Outlook for 2009: second half 2009 profit after tax expected to equal half year 2009 profit after tax.
Comments from Sylvo Thijsen, CEO Grontmij N.V.: "The Group has produced a resilient financial performance in the first half year. Our strong market position in the sectors Transportation, Environment, Water and Energy has helped us, despite considerable currency exchange effects, to deliver these results in an economic challenging climate.
The first half of 2009 saw the recessionary effects in the Netherlands, the United Kingdom and Belgium impacting our margins and volumes in those countries, in particular in the private sector Building and Industry. Recognising the changing markets, we took rapid action to restructure and re-balance our resources by reducing our resources in the affected segments and increasing resources in our chosen profitable activities (Transport, Environment, Water and Energy). We increased our focus on operational performance through managing overhead, exiting unprofitable areas of the business and tightening of cash management.
Our strategy aims to achieve a balance between activities in the various geographies, market sectors and the different phases of the project chain. This strategy, together with our growing market position in the Transport, Environment, Water and Energy sectors, positions Grontmij well for the coming years.”
Downloads
Press release - Grontmij resilient in challenging markets
Interim Financial Statements Grontmij N.V. 2009
Presentation Half year figures 2009
are available at www.grontmij.com
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