HBG: finalised results for 2001 in line with previous announcement

Hollandsche Beton Groep nv, published provisional key figures for 2001 – in connection with the announcement of the proposed offer by Grupo Dragados – on 5 February 2002. The finalised results presented below are broadly in line with those provisional figures.

Result and revenues
HBG’s net profit for 2001 amounted to EUR 110 million [EUR 67 million negative], or EUR 3.10 per share [EUR 1.92 per share negative]. The operating result before exceptional items increased in 2001 to EUR 125 million [EUR 85 million]. Deducting the exceptional result of EUR 18 million [almost entirely as a result of a non-recurring payment of EUR 17 million to the HBG Pension Fund to make up for the funding shortfall resulting from stock exchange movements in 2001] leaves an EBIT figure of EUR 107 million. In the preceding year, EBIT amounted to EUR 51 million negative as a result of non-recurring provisions totalling EUR 154 million. In contrast to preceding years, there was no refund of contributions of the HBG Pension Fund to HBG.

The extraordinary income of EUR 50 million net is made up of the result on the disposal of HBG’s interest in NEM and the book profit on the Ballast Ham Dredging transaction, less the cost of planned restructuring exercises.

Group revenues increased by more than 4 per cent to EUR 5.6 billion [EUR 5.4 billion]. HBG achieved 30% of its revenues in the United Kingdom [2000: 27%], 7% in Ireland [5%], 25% in the Netherlands [28%], 3% in Belgium [4%], 17% in Germany [17%], 8% in the United States [10%] and 10% in the other markets [9%].

For further details please visit www.hbg.nl.

(source: HBG)

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