Ackermans & van Haaren: 2013 Half-Year Results

Ackermans & van Haaren today announced its 2013 half-year results. The half-year profit of Ackermans & van Haaren increased to 94.8 million euros (1H12: 67.8 million euros) due to higher profits recorded by Delen Investments, DEME and Bank J.Van Breda & C°, and the capital gain that was realized on the sale of the participation in Spano Group.

In the second quarter, DEME managed to make up the ground it had lost at the beginning of the year. As a result, both turnover (1,207 million euros, +34%) and net profit (34.4 million euros, +24%) are at a higher level than in the first six months of 2012. Rent-A-Port continued to develop its international projects and was able yet again to record a nice profit in Vietnam.

DEME

DEME (AvH 50%) realized a strong turnover growth to 1,207 million euros in the first six months of 2013, compared to 904 million euros in the same period last year. In Belgium, the works for the Northwind offshore wind farm and the implementation of the remediation and management measures of the disaster site following the train derailment in Wetteren were started up, while the third phase of the construction of the C-Power offshore wind farm continued.

Several other large sites were also started up in the course of the first six months (New Doha Port in Qatar, Wheatstone in Australia) or were continued (Gladstone in Australia), thereby ensuring a good occupancy of the fleet from the second quarter onwards. The EBITDA increased to 181.1 million euros (1H12: 144.6 million euros) and the net profit to 34.4 million euros (1H12: 27.7 million euros).

Despite the technical complexity in the execution of certain projects for demanding customers, such as the Northwind wind farm in Belgium and the construction of the SARB energy islands in Abu Dhabi, DEME realized an EBITDA in the first six months of 2013 in line with the 18% that was attained over the whole of 2012, taking into account the fact that part of the turnover in 1H13 consists of major subcontracts and supplies such as steel foundations, cables and rocks for wind farms.

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Press Release, August 28, 2013