Heijmans confirms 2003 profit forecast

Heijmans N.V. (construction, property development and related activities) expects that the net profit over 2003 will come out at the previously forecast level of approximately € 75 million. This will put the profit per share after amortisation of goodwill and deduction of cumulative preferential dividend at approximately €3.04. These figures do not take into account the results of investigations by the Public Prosecutions Service and the Netherlands Competition Authority into irregularities in the construction sector.

In his 2003 end-of-year message, Guus Hoefsloot, CEO of Heijmans, will emphasise that the company is now reaping the benefits of the organisation´s efforts to put profit above growth under the current market conditions. Previously, Heijmans has indicated that it was seeking to establish a more prominent presence at both the front end and back end of the value chain in construction: on the front end, by being more involved in the design of construction projects, and on the back end, in part via maintenance activities. A strategic plan to achieve this, with concrete objectives, will be presented in March 2004.

Heijmans´ order portfolio (the total of signed orders) will reach approx. € 2.3 billion at the end of 2003 (compared to € 2.317 billion at the end of 2002). This figure includes approximately € 1.25 billion in living/working in the Netherlands, € 500 million for traffic/transport in the Netherlands, € 75 million for industry/production in the Netherlands and € 475 million for the Belgian, English and German activities. Over all of 2003 the number of residences sold by Heijmans in the Netherlands will be approximately 2,745, up approximately 28% from 2002.

Source: Heijmans N.V.

Related News