Oranjewoud N.V. Annual Results 2008 - Revenue rises sharply
Gouda, 30 March 2009 - Oranjewoud N.V. revenue rose in 2008 by 59% to 363 million Euros, compared with 228 million in 2007. The listed Company’s after-tax profits before extraordinary results amounted to 15.2 million, compared with 9 million in 2007. This represents profit growth of 69%.
Oranjewoud N.V.'s 2008 annual sales and profit figures are as follows:
| (amounts in millions) | 2008 | 2007 | 1) |
| Net revenue | € 363.1 | € 228.5 | |
| Recurring EBITA (excl. pension provisions released) | € 28.5 | € 20.6 | |
| Amortization | € 8.7 | € 8.1 | |
| After-tax profit (loss) before extraordinary results | € 15.2 | € 9.0 | |
| Non-recurring profit (loss) after tax | - | € 6.9 | 2) |
| Profit (loss) after tax from discontinued business activities | € 2.0 | € 0.6 | 3) |
| Profit (loss) after tax | € 17.2 | € 16.5 | |
| Number of outstanding shares | 36,171,731 | 34,671,731 |
Figures are taken from the audited 2008 annual accounts.
1) 2007 figures have been adjusted to account for discontinued business activities
2) Pension provisions released arising from changes in pension (structure)
3) Relates to the results and gains resulting from the sale of the Ité group in 2008
In 2008 Oranjewoud N.V. expanded its activities through several acquisitions. These included the acquisition of all operations of Van der Heide Beheer B.V. on 1 January, followed by Delta Environmental Consultants Inc. on 10 January, Groenland Beheer B.V. on 2 July and Gebrüder Becker GmbH on 23 December. On 16 May a 50% stake was acquired in Edel Grass B.V. In combination with fiscal and organizational optimization introduced throughout the Group, these acquisitions provide a solid foundation for continuity and growth.
After adjustment for non-recurring items (the release of pension provisions amounting to 6.9 million Euros (2007) and gains from the sale of the Ité group amounting to 2 million Euros (2008)), 2008 profits rose significantly compared to 2007. All three core segments (Engineering & Consultancy, Contracting and Secondment) made positive contributions to the overall results. Sales rose more strongly than profits. In addition to the non-recurring items specified this resulted from the integration of acquired businesses.
Oranjewoud N.V. forecast for 2009
Management is unable to present a tangible forecast of revenue and profit in 2009. The global economy remains uncertain. The Group will maintain its focus on growth, while exercising some restraint with regards to acquisitions. Back-office integration of acquired businesses will continue to require appropriate attention in 2009.
This press-release contains “forward-looking statements”. All statements, other than statements of fact, which address activities, events or developments that we, or our management intend, expect, project, believe or anticipate will or may occur in the future, are forward-looking statements. They are not guarantees of future performance. Developments and business decisions may differ from those envisioned by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term.
Annual General Meeting for Shareholders
The Annual General Meeting for Shareholders will take place on 14 May 2009. The 2008 Annual Report will be available on 29 April.