Dutch construction firm Ballast Nedam has reported a strong performance in its 2011 results, released today.
The company reported operating profits of €19 million, with net profits of €9 million on revenues of €1.4 billion.
Ballast Nedam said it performed well considering the bleak market conditions, increasing competition and price pressure, a situation it said would persist over the coming years.
Excellent results were achieved on several large multi-year projects and in the niche markets, the company said.
Among the favourable developments were a stronger order book of €1.9 billion, a strengthening of the balance sheet through the sale of three PPP projects, a lower property exposure and the extension of loan facilities to 2017.
Ballast Nedam's strategy focuses on integrated projects and the niche markets of industrial construction, hospitals, offshore wind turbines, secondary raw materials and alternative fuels.
Commenting on the results, Theo Bruijninckx, Ballast Nedam’s CEO, said: “Our strategic focus has allowed us to continue to deliver respectable results in 2011. The strengthening of our balance sheet together with the quality and the larger size of the order book give Ballast Nedam a favourable starting position to withstand the current recession and to continue to gain from the opportunities for integrated projects and the niche markets.
“For 2012 we forecast approximately equal results on a revenue of €1.4 billion in further deteriorating market conditions.”
Headquartered in Nieuwegein, the Netherlands, the company employs around 4,000 people across its various business units.
