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Result after tax YTD 2008 up 21% to € 26.6 million (2007: € 22.0 million). Result after tax Q3 increased 24.6% to € 8.1 million (2007: € 6.5 million)
• Revenue YTD 2008 totals € 626.8 million (2007: € 566.7 million)
• Net revenue YTD 2008 increased to € 491.1 million (2007: € 440.9 million). Organic growth amounts to 7% (2007: 5%); without the effect of the decline of the British pound, 9%
• Continued sustainable demand for multidisciplinary services
• Outlook for 2008 remains unchanged: approaching an operational margin of 8% (EBITA on Revenue) over the full year 2008 excluding unforeseen circumstances.
Comments Sylvo Thijsen, CEO Grontmij N.V.:
"The results of the first nine months and the third quarter of 2008 are in line with expectations. All countries have improved their performance compared to the first nine months of last year. We are pleased to see that all acquired businesses in 2008 are performing well and in line with our expectations.
“Our focus on sustainable design, innovation and management services delivers strong inflow to our order book in the sectors of energy, water and environment. Our knowledge and the changing needs of our clients in the infrastructure sector also secure a steady stream of orders, most of which we expect to be of a structural nature.
“Despite the current financial crisis and the hesitation in some parts of the real economy, our order book is well over one year and shows no signs of a slow down overall. We see no reason therefore to amend our outlook for 2008. We will, however, keep a close watch on our daily operations in view of the economic downturn. If necessary, our organisation is able to respond rapidly to changing market circumstances.
“Our financial, commercial and organisational base is solid and strong. Above all, I know we can rely on our most valuable asset: well motivated employees continuously delivering the best to our clients.
“As explained at the presentation of the full year figures of 2007, Grontmij will present its group results including geography and market segments in its half year and full year reports. In the first and third quarter releases, the group results will be presented together with an update on the countries and market segments.”
United Kingdom/Ireland
Grontmij has a strong position, especially in the water sector in asset management. A large proportion of the UK water business is tied up in framework contracts. Next year the biggest challenge and influence on the UK's performance is the effect of the framework renewal cycle of the Asset Management Program (AMP) of water companies.
Our position in the transportation market is strong but less substantial . The three companies acquired in the first half year of 2008 contribute to revenue and their results are in line with our expectations.
Despite the financial crisis and its direct impact on the UK building sector particularly, Grontmij still has an impressive order intake and forecast for its multi-disciplinary services as designer, planner and engineer.
In the UK the following assignments were added to our order book:
• As part of our framework with Yorkshire Water to provide telemetry consultancy services, Grontmij has been awarded a commission to manage the installation of first time telemetry at 700 combined sewer overflows and sewage pumping stations. This is part of Yorkshire Water’s pollution prevention programme.
• Together with Grontmij Poland, the water consultancy business in the UK has won a commission to benchmark the business processes of Aquanet for compliance with PAS 55, the asset management standard. Aquanet is one of Poland’s largest water and sewage utilities.
• Grontmij is helping Thames Water to develop new construction standards for the utility company’s design and construct procurement strategy in relation to AMP5.
For further information please contact: Fergus Wooler Grontmij Tel: 0113 262 0000 Email: fergus.wooler@grontmij.co.uk
Or
Katie Eborall/ Marie O’Connor Ptarmigan Tel: 0113 242 1155 Email: katie@ptarmiganpr.co.uk / marie@ptarmiganpr.co.uk
Notes to Editors Grontmij was founded in 1915 and is listed on the Euronext Stock Exchange in Amsterdam. The company is a multi-disciplinary consulting engineering company with operations in the Netherlands, Germany, Belgium, Poland, the Czech Republic and Hungary. In August 2006 it acquired consultancy Carl Bro, giving it a presence in Sweden and Denmark and the UK and Ireland, with established operations in Solihull, Bristol, Dublin, Edinburgh, Glasgow, Leeds, Peterborough, Reading, Warrington and Wrexham. In 2008 the UK business acquired Whitelaw Turkington, Trett Consulting and Roger Preston and Partners, which continue to operate under their existing brand names and project management.
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