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Heijmans 2015: Negative year result, improvement noted in second half

* Revenues increased 6% to almost € 2.0 billion (2014: € 1.9 million);
* Underlying operating result second half 2015 € 6 million positive (H2 2014:
€ 5 million negative), full year 2015 € 5 million negative (2014: € 12
million negative);
* Financing extended to 30 June 2018; solvency ratio 26%
* Increase in number of homes sold to 1,791 homes with 33% (2014: 1,347
* Net result 2015 € 27 million negative, partly due to impairment of property
assets (2014: € 12 million negative);
* Result from growth markets Property Development and Residential Building (€
15 million) improved compared to the previous year (2014: € 6 million);
activities in Belgium and Germany make solid contribution to the results;
* Result Infra Netherlands € 26 million negative: previously introduced
improvement measures are having an effect but this is overshadowed by the
impact of a number of projects acquired in 2012-2013;

Bert van der Els, Chairman of the Executive of Heijmans:
"The markets in which we operate remain challenging. We did, however, improve
in a number of areas in the second half of the year and an increase in
revenues after seven years of decline. Property Development and Residential
Building both benefited from the clear growth in the market. With our
executional power and creativity we are able to realise high-profile
projects. However, the Dutch Infra market remains poor and margins are under
pressure. The larger projects in this market are often highly complex and
have numerous stakeholders. We focus very closely on the acquisition of
projects with acceptable risk and realistic margins, and on a controlled
realisation of these projects. We are seeing the first results of this
approach, particularly in regional infra projects and asset management
contracts. At the same time, we are still facing losses on a number of
larger, Infra projects acquired in the past. Our Belgium and German
activities are making a solid contribution to the results. At Non-Residential
our service business is able to acquire an increasing number of management
and maintenance contracts. We will have to make every effort to improve our
core activities through stringent tender, project, procurement and commercial
management. The proposed appointment of a fourth board member specifically
for the Infra operations should contribute to the process of improving
results at Infra.
In view of the lagging operational performance, there is clear pressure on the
ratio between results and credit uptake. With this in mind, Heijmans
initiated the dialogue with its banks regarding financing for the years ahead
and reached agreement on the extension of the syndicated facility to 30 June
2018. Heijmans' basic premise is to work onwards a structural improvement in
the net debt / EBITDA ratio for the coming period. Growth in the housing
market and the order portfolio put us in a positive starting position for
2016. Combined with the strategic efforts to improve and renew, we should be
able to book a positive underlying operating result in 2016 and make clear
steps forwards."

About Heijmans
Heijmans is a listed company that combines activities related to property
development, residential building, non-residential building, roads and civil
engineering in the working areas living, working and connecting. Heijmans is
active in the Netherlands, Belgium and Germany and as a technology partners
delivers know-how and concepts in various markets. Our constant focus on
quality improvements, innovation and integrated solutions enables us to
generate added value for our clients. Heijmans realises projects for private
consumers, companies and public sector bodies.
With over 6,500 employees and almost € 2.0 billion in revenues in 2015, we are
building the spatial contours of tomorrow. You will find additional
Announcement home member state Heijmans N.V.
Pursuant to the implementation the Transparency directive, Heijmans N.V.
announces that the Netherlands is its home member state. Heijmans N.V. has
its registered office in Rosmalen and issues (depositary receipts for) shares
that are listed on the Euronext in Amsterdam. A copy of same is sent
simultaneously to the Dutch Financial market Authority AFM.

For more information:


Marieke Swinkels-Verstappen
+31 73 543 52 17


Guido Peters
+31 73 543 52 17
The Executive Board will explain the published results for 2015 today, 25
February 2016, at a press conference and analyst meeting. The analyst meeting
will start at 11.00 am and you can follow the meeting via a webcast The agenda and the registration form for the General
Meeting of Shareholders of 13 April of this year will be available in the
Heijmans website from 2 March onwards.

Heijmans publishes annual report and financial statements 2015 prior to the
start of trading (ASX) 29 February 2016.

This press release was also published in Dutch. In the event of any
discrepancies between the original press release and the English-language
version of same, the Dutch version shall prevail.

Full press release


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Heijmans NV via Globenewswire


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