Imtech books rise in profit and turnover

Tuesday 31 July 2012

Gouda-based engineering group Imtech on Tuesday announced a rise in both profit and turnover and a growing order book.

First half profit rose to €62m against €60.7m in the year-earlier period. Turnover increased to €2.6bn from €2.3bn.

Analysts had expected profit of €61.8m and turnover of €2.49bn.

Imtech expects further growth this year through autonomous growth and acquisitions. It is still forecasting turnover of €8bn and an ebita margin of between 6% and 7%.

Statement

The company performed well in nearly all its markets despite the difficult economic situation, CEO René van der Bruggen said in a statement.

However, he went on to say that autonomous growth percentages are being influenced by reorganisations in the Benelux, Spain and the division Marine.

Reorganisation costs in the first half reached €8m. 'Normally these costs would be an annual €3m to €5m,' Van der Bruggen said.

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