Worsening economic conditions contributed substantially to negative result.
The improvement is the riskprofile of the companyÂ's portfolio was already the central theme in BallastÂ's strategy. Apropriate measurements were taken during 2000 and 2001. The risks on the foreign markets increased tremendously as a result of the economic and political environment during the autumn of 2001.
Ballast Nedam increased its efforts to re-organize its activities outside Europe. Together with the re-organization of its UK construction division this resulted in substantial financial provisions for projects and reaorganization costs. The company therefore finished 2001 with a negative result.
For further details please visit www.ballastnedam.com.
(source: Ballast Nedam)