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Grontmij N.V.

Grontmij N.V.

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Publicatie datum 04 aug 2014 - 07:09
Statutaire naam Grontmij N.V.
Titel Financial press release - Grontmij improves operating margin in first half 2014; Cost reductions and French divestment process progressing well
Bericht De Bilt, 4 August 2014 - Grontmij N.V. a listed consulting & engineering company with strong European presence, today announces its results for the second quarter and first half of 2014. In the second quarter, markets across Europe on average developed moderately positive, thereby continuing the first signs of recovery reported in the first quarter. EBITA margin excluding exceptional items improved in the first half of 2014 to 3.5% (HY 2013: 2.4%), despite a slightly lower operating margin in the second quarter. Margin increase is mainly driven by improved performance in the Netherlands and cost savings. Good progress is made on the divestment process of the French activities, with interest from both financial and strategic parties. In the second quarter, € 19.5 million of convertible cumulative preference shares ('Cumprefs') were issued, further strengthening Grontmij's financial position.