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Grontmij N.V.

Grontmij N.V.

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Publicatie datum 04 nov 2013 - 07:08
Statutaire naam Grontmij N.V.
Titel Grontmij Financial press release third quarter 2013
Bericht Grontmij realises significant debt reduction; focus on operational excellence remains key De Bilt, 4 November 2013 - Grontmij N.V., a listed consulting & engineering company with strong European presence, today announces its third quarter 2013 results. Grontmij successfully reached an agreement and finalised the divestment of the French Monitoring & Testing business in the third quarter. With the proceeds being used to pay off debt, a significant net debt reduction was realised in the third quarter, strengthening Grontmij's financial foundation. The reduction of trade working capital is developing in line with the year-end target, with a strong focus on cash. Total and net revenue in the third quarter remained solid, despite challenging market conditions across Europe. Grontmij reports organic growth on net revenue, driven by growth in Sweden, Germany and Other markets. Profitability improved slightly, albeit below our internal expectations, highlighting the necessity of the operational excellence (OPEX) programme that is currently being implemented across the Group.