ARCADIS today announced its results for the fourth quarter and full year 2001 period, which reflect sustained growth in profitability despite difficult economic circumstances.
Net Income – 2001 Full-Year Period>/b>
Full year net income before extraordinary items and before amortization of goodwill grew by 12% to EUR 23.2 million. Net income per share amounted to EUR 1.14, an increase of 10%.
The growth in net income is primarily attributable to autonomous developments and is fully in line with ARCADIS’ financial goals as set out in the revised strategy in 2000. Operating margins (operating income as a percentage of net revenue) improved to 6.9% from 6.4%, also in line with the Company’s financial goals.
During the year under review, the Company booked an extraordinary gain of EUR 2 million, or EUR 0.10 per share, reflecting the balance of an extraordinary gain resulting from the book profit on the sale of a non-consolidated company and an extraordinary charge resulting from a restructuring of the Company’s property valuation activities in the Netherlands.
Including this extraordinary gain, and after goodwill, net income for the full year 2001 increased 21% to EUR 25.1 million from EUR 20.7 million a year ago, while net income per share amounted to EUR 1.24, a 19% increase from net income per share of EUR 1.04 last year.
Management proposes to raise the cash dividend to EUR 0.44 per share, compared to EUR 0.39 per share for 2000 (+13%). Calculated against the closing price of ARCADIS shares on Euronext in 2001, of EUR 9.35, the dividend yield amounts to 4.7%.
(source: Arcadis)
