Drop in turnover for Heijmans

By Sarah Ann McCay09 May 2013

A declining property market and an extended period of frost in Europe have resulted in Dutch contractor Heijmans posting a drop in turnover in the first quarter of 2013, compared with 2012 figures.

Heijmans sold just 60 houses to private individuals through April this year and did not record any transactions with investors during the period.

Despite that, Heijmans expects its operating results to break even for the first half of 2013, and is confident of a positive second half. The company’s order portfolio remains stable at €2 billion as at the end of March 2013.

Bert van der Els, chairman of the executive board of Heijmans, said,We have yet to reach rock bottom in the building sector; the market is still declining, especially in the housing market. This, combined with the extended period of frost in the first quarter of the year, resulted in reduced turnover and a lower profit compared to the first months of 2012.

"We are fully alert to opportunities and ready to change gear rapidly, both in a negative sense if there is a further decline in the market and in a positive sense to make the most of opportunities that may arise in this market.”

Heijmans continues to focus on its strength as an inner-city area developer. One example is the contract Heijmans signed with the Vlaardingen municipality for the development of Buizengat-Oost.

Non-residential recorded a small drop in turnover compared to the same period of last year. Earlier this year, Heijmans’ non-residential acquired a contract for the new construction of premises for Solliance and the renovation of Gebouw 48, both of which are on the Hightech Campus in Eindhoven.

In its Infra division, covering roads and civil engineering, Heijmans acquired contracts in the first quarter of the year for the renovation of the Wilhelmina locks in Zaandam and the reconstruction of the Drachtsterweg in Leeuwarden.

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