Belgium: Ackermans & van Haaren Posts Third Quarter Results

Ackermans & van Haaren has announced the third quarter results for 2012.

Marine Engineering & Infrastructure

DEME

DEME (AvH 50%) realized a third quarter in line with expectations.

Due to a delay in the start-up of the major Wheatstone and New Doha Port sites, they will only contribute to the results from the next financial year onwards.

The highly diversified order book was worth 3,298 million euros at the end of September 2012, compared to 3,446 million euros at the end of June 2012 and 2,404 million euros at the end of 2011. The execution of this order portfolio gives DEME the prospect of a high level of activity for the next few years.

As part of the investment programme, the highly powerful jack-up vessel ‘Innovation’ was baptized and put into service at the beginning of September 2012.

Outlook for 2012

Although certain companies of the AvH group are experiencing growing pressure from the slowing economy since 3Q12 and Hertel’s contribution to the results will once more be distorted in 2012 by the impact of reorganizations, the board of directors of Ackermans & van Haaren believes the group is still well positioned.

Ackermans & van Haaren is a diversified group active in 5 key sectors: Infrastructure & Marine Engineering (DEME, one of the largest dredging companies in the world – Algemene Aannemingen Van Laere, a leading contractor in Belgium), Private Banking (Delen Private Bank, one of the largest independent private asset managers in Belgium, and asset manager JM Finn in the UK – Bank J. Van Breda & C°, niche bank for entrepreneurs and liberal professions in Belgium), Real Estate, Leisure & Senior Care (Leasinvest Real Estate, a listed real-estate investment trust – Extensa, an important land and real estate developer focused on Belgium, Luxembourg and Central Europe), Energy & Resources (Sipef, an agro-industrial group in tropical agriculture) and Development Capital (Sofinim and GIB).

In 2011, through its share in its participations, the AvH group represented a turnover of 3.1 billion euro and employed approximately 18.000 people. The group concentrates on a limited number of strategic participations with significant potential for growth. AvH is quoted on the BEL20 index, the Private Equity NXT index of Euronext Brussels and the European DJ Stoxx 600.

More info

[mappress]

Press Release, November 15, 2012