Previously announced one-off items and financial expenses largely drive net loss Imtech

• Revenue slightly down at 2,485 million euro (-2%).

• Operational EBITDA of -46 million euro excluding earlier announced 40 million euro write downs in Benelux and Marine

• Satisfactory order intake of 2,509 million euro

• Net debt end of June, stable at 1,206 million euro compared to Q1 2013 despite cash out for restructuring

• Net proceeds of equity issues of 507 million euro have been used to reduce net debt

• Improvement programs on track:

   – Restructuring program on schedule

   – Continued progress on business controls

   – Working capital reduced by 133 million euro in second quarter

   – 60% of senior management is new

Gerard van de Aast, CEO: ‘The net result in the first half of 2013 at Imtech is largely driven by several one-off items and financial expenses as previously announced. Revenue is slightly down and working capital is beginning to decline in the second quarter. The order intake is satisfactory, given market circumstances, and in line with revenue. Good new orders are won amongst others at Shell in the Netherlands, Carl Zeiss in Germany, Merseytravel (Liverpool based transport authority) in the UK and Marine orders in China. We are well on track with the implementation of the strengthened business controls and the restructuring programs are on schedule and will be finalized in the second half of this year. However, this is just the beginning of the necessary change and business improvements at Imtech. In particular, we need to improve operational performance and further reduce working capital. We will do so with a new senior management team and 29,000 dedicated, highly skilled employees’

Review KPMG

The interim financial statements for 2013 have been reviewed by KPMG Accountants N.V. Their review report is included on page 22 of these financial statements.

Comparative figures HY 2012

The comparative figures for HY 2012 have been adjusted where relevant and appropriate in line with the 2012 financial statements. As previously announced we have consistently allocated the write downs over the quarters pro rata for a more meaningful comparative reference. See also the appendix with the interim financial statements for more information.

Change in cluster reporting

In line with the change in internal reporting and managerial division responsibilities on management board level, we have adjusted our cluster reporting as from Q2 2013. The activities relating to Infra, which were previously reported in the cluster Benelux, are now reported in the segment Traffic & Infra. Furthermore, ICT and Marine, which were previously included in the cluster ICT, Traffic & Marine are shown as separate segments. The comparative figures for the HY 2012 and Q1 2013 have been adjusted accordingly. See also note 5 of the appendix with the interim financial statements for adjusted comparative figures of the segment reporting.

Read more: the complete press release including tables (pdf).