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Imtech's order book grows by 11%

Imtech's global order book grew by 11% in the first half of 2009, aided by green technology demands and government investment, and its UK order book fell by only 2% when compared to 2008.
Performance in the UK, Ireland & Spain shows for the first six months in 2009 revenue rose by 14% to 270 million euro (when compared to HY 2008) and its order book fell by 2% (to 542 million euro). In the UK, Imtech stated the steep decline in the property market was offset by the breadth of Imtech's portfolio, a focus on energy and water and investment related to the 2012 Olympic games.

Overall, the building services firm acheived an order book of 4.8 billion euro in the first six months of 2009, up 11% from 4.3 billion euro the previous year.

René van der Bruggen, CEO of the European technical services provider Imtech N.V said: 'Even in the UK, Ireland & Spain where the effects of the economic crisis are very obvious Imtech succeeded in maintaining its position. This was possible thanks to the clear focus on energy, water and maintenance in the (petro)chemical industry plus the positive effects of the 2012 London Olympic Games'.

In the buildings market the lower investment level in commercial buildings was partly offset by growth in green buildings, the care & cure sector, the airport market and education.

He added: 'In the first half of 2009 difficulties with financing meant a number of orders were postponed and, in some cases, the scope of maintenance contracts was changed. The competition increases, partly due to the fact that customers tender new projects in segments rather than an integrated whole. On the other hand the demand for technology has not decreased. In fact, there has been a considerable increase in the demand for 'green' technology that contributes towards more energy-efficient and sustainable processes'

Imtech is noticing the first positive effects of increasing government investment. These government activities account for around 30% of Imtech's total activities.

London's hosting of the 2012 Olympic Games has cleared the way for an investment programme in which Imtech has pre-qualified for technology solutions in a number of sporting venues and accommodation projects.

Imtech's multi-year maintenance contract with Transport for London for the 'Keeping London Moving' programme generated extra activities. Imtech is responsible for the maintenance and upgrading of all the traffic systems in the eastern region of London, including the Olympic area. This involves around 40% of all the technical traffic solutions in London.

Education is one of the market segments in the UK that,thanks to increasing government investment, is showing substantial growth. Imtech projects include the expansion of Nottingham Trent University, the redevelopment of the Colchester Institute and the technology in a Cambridge University R&D centre.

Imtech said the overall picture is one of organic growth and a still growing order book.

The firm's long-term plan is to achieve revenue of 5 billion euro in 2012.

Imtech N.V. is a European technical services provider in the fields of electrical engineering, ICT and mechanical engineering. With more than 22,500 employees, Imtech achieves annual revenue of around 3.8 billion euro.
11 August 2009

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