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Implenia AG

euro adhoc: Implenia AG
Financial Figures/Balance Sheet
First half of 2007: Implenia continues its momentum

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
6-month report
13.09.2007
D i e t l i k o n, 13 September 2007 -  The Implenia Group, created 
with the merger of the two most important Swiss construction 
companies, Zschokke and Batigroup, achieved excellent results  -  in 
line with the high expectations - in the first half of 2007. The 
operating result (EBIT) amounts to CHF 12.8 million. Taking  into 
account integration costs, exceptional fees and depreciation of 
intangible assets, amounting to a total of CHF 6.7 million, the Group
result stands at CHF 3.5 million. Turnover in the first half-year 
progressed by 5% over the same period last year, reaching CHF 1.444 
billion. For the whole year, thanks to the good level of the order 
books in all fields of activity, the Group Management is counting on 
a turnover of about CHF 3.0 billion and, after extraordinary charges,
a good result for the Group.
"Developments since the merger decision have confirmed our 
expectations and convictions", underlined Christian Bubb, CEO of 
Implenia, adding: "Implenia is now able to consolidate its position 
as undisputed leader in all of its fields of activity in Switzerland,
but also to capture specifically targeted and very attractive markets
abroad".
As at 30 June, equity reached CHF 369.8 million. At the end of July 
2007, the order volume of the entire Group amounted to CHF 2696 
million, spread over a number of years.
Adaptation of the operational structure Considering the present and 
future market needs, the operational structure of the Group has been 
changed: Implenia is now structured in four Divisions. The Real 
Estate Division, including the company General Contractor, groups the
services provided upstream and downstream of the actual construction 
activity, such as project development, engineering and real estate 
services. In construction, the Infra Division groups traditional 
activities, i.e. building, civil engineering, roads and special 
construction works. The Tunnels and Total Contractor Division is 
specialised in major  infrastructure projects, in particular tunnels 
and railway engineering. The Global Solutions Division is responsible
for all activities abroad.
Real Estate Division Over the whole year 2007, the Real Estate 
Division (real estate, engineering, general contracting) should 
achieve a turnover of about CHF 1305 million and an operating result 
(EBIT), before extraordinary charges, of about CHF 33.2 million. At 
the end of July, the volume of orders amounted to CHF 1196 million. 
The Division is positioned as a provider of innovative, global or 
partial solutions to private or institutional real estate investors.
Infra and Tunnels/Total Contracting Divisions (construction works) 
Over the whole year, the turnover of construction activities should 
amount to CHF 1682 million. The expected operating result (EBIT), 
before extraordinary charges, amounts to about CHF 40 millions. At 
the end of July, the volume of orders amounted to CHF 1499 million, 
mainly in underground construction works, spread over a number of 
years. The net improvement over the year 2006 is mainly due to the 
impact of synergies, which are becoming notable.
Global Solutions Division This division leads and coordinates all 
international activities. It groups all available expertise within 
the Group, offering it to an international clientele in carefully 
targeted regions and segments of activity. It concentrates on two key
areas of competence: infrastructure solutions and services for the 
construction of High Quality Buildings. A number of orders have 
already been booked or developed in Russia and the Middle East. 
Notably, Global Solutions has been entrusted with the preliminary 
study, including design, for the construction of two stadiums, in the
Russian city of Sotchi, to host the Winter Olympics of 2014.
Still no agreement with Laxey Partners In the spring of this year, 
2007, the British fund Laxey Partners, acquired, in secret, a block 
of shares, and then officially announced that its holding amounted to
22.9%. As its intentions still remain rather unclear, the Board of 
directors persists in its refusal to register the shares held by 
Laxey Partners beyond the 4.9% of the share capital already 
registered. Indeed, considering the legislation in force (Lex 
Koller), the registration of the entire holding would entail the 
destruction of the values created so far and would threaten, or 
prevent the development of Implenia in line with the strategy 
adopted, which has now demonstrated its worth. The Board of directors
remains determined to uphold its decision not to register any other 
shares held by Laxey and thus protect the interests of the majority 
of our shareholders.
Favourable prospects Thanks to our strong order books, in all 
divisions of the Group, the 2007 turnover should exceed last year's 
and reach about CHF 3000 million. Despite the extraordinary charges 
posted to the entire accounting period, the Management expects a good
full-year result. For 2007, the balance of the costs of integration 
and depreciation of intangible assets should amount to about CHF 19.5
million. In coming years, the effects of the synergies created by the
merger should also contribute to an improvement of the results in the
low margin construction activities.
end of announcement                               euro adhoc 13.09.2007 07:00:00

Further inquiry note:

Christian Bubb, CEO Implenia
Phone +41 44 805 45 55, Mobile +41 79 219 86 80
E-mail christian.bubb@implenia.com

Roger Merlo, CFO Implenia
Phone +41 22 787 03 17, Mobile +41 79 353 78 10
E-mail roger.merlo@implenia.com

Branche: Building materials
ISIN: CH0023868554
WKN: 2386855
Index: SPI, SSCI, SPIEX
Börsen: SWX Swiss Exchange / official market

Plus de actualités: Implenia AG
Plus de actualités: Implenia AG