Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Oranjewoud N.V.    ORANW   NL0000370419

ORANJEWOUD N.V.

(ORANW)
  Report
SummaryQuotesChartsNewsCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Oranjewoud N : Semi-annual financial report 2020

10/07/2020 | 08:50am EST

- Press release -

Oranjewoud N.V. 2020 semi-annual report

Modest decrease revenue; result significantly affected by restructuring costs and limited by Covid-19

  • Revenue from contracts with customers decreased to € 1,019.5 million (2019: € 1,041.8 million)
  • Operating profit (Ebitda) € 41.1 million (2019: € 50.4 million)
  • Net result € 10.3 million loss (2019: € 6.8 million profit)
  • Restructuring costs in the first half year 2020 amounted to € 11.4 million
  • Backlog € 3.2 billion (2019: € 3.4 billion)
  • Solvency 17.0% (end of 2019 and half year 2019: 16.9%)
  • The COVID-19 outbreak has spread rapidly in 2020 and the Group has taken appropriate actions to mitigate the impact of the Covid-19
  • At the moment, the consequences of Covid-19 on the business operations and results are limited

Key figures

2020

2019

Results (in millions of euros)

Half year

Half year

Revenue from contracts with customers

1,019.5

1,041.8

Ebitda

41.1

50.4

Amortization

3.8

4.4

Net result

-10.3

6.8

Net result attributable to

shareholders of Oranjewoud

-10.5

6.7

Employees (headcount)

Number at end of first halfyear

10048

10308

Backlog (in millions of euros)

Total at end of the first halfyear

3,198.5

3,411.5

Equity (in millions of euros)

06-30-2020

12-31-2019

Equity (E)

275.2

285.9

Total assets (TA)

1,622.4

1,689.5

E/TA

17.0%

16.9%

These figures are extracted from the administration of Oranjewoud N.V. and are unaudited.

1

General

Oranjewoud N.V., top holding of Strukton Groep and Antea Group, is a listed enterprise encompassing companies that operate both nationally and internationally. The companies that are part of Oranjewoud N.V. are active in the fields of civil infrastructure, rail systems, technology and buildings, environment, spatial planning, water and recreation. This covers the whole process, from preliminary studies, consultancy, design, planning and organization, right up to realization, management and operation.

Oranjewoud N.V. (Oranjewoud) is a leading partner in the development and application of sustainable and integral solutions for all facets of the environment in which we live, work, play and travel. Oranjewoud N.V. has pinpointed four strategic growth sectors for the medium to long term - environment, water, infrastructure, and spatial planning.

There are no new developments regarding the FIOD investigation. In 2019 the initial police report, and at the beginning of 2020 also the information that was confiscated during the raid, was made available to us digitally. We have determined that this information does not provide any new insights or requires further investigation into the reason for the raid on 15 February 2019.

After a careful process, the auditor issued an unqualified audit opinion on the financial statements 2019 of Oranjewoud N.V. on July 14, 2020. The key points of the audit were discussed with the supervisory board and described in the auditor's report as included in the 2019 annual report.

Covid-19

The COVID-19 outbreak has spread rapidly in 2020. Measures to stem the spread taken by governments across the globe have had a modest impact on the activities of the Group in the first six months of 2020. The developments have led to a positive recurring operating result in the first five months of 2020. Whether or not we will see revenue and profitability improve in the remaining months of 2020 depends on how long the areas in which we operate are exposed to COVID-19 and on the degree to which government measures are extended, amplified or eased. We will continue to abide by the policy and advice of the various national bodies, while at the same time doing everything within our power to proceed with our operations in the best and safest way possible without jeopardizing our workers' health. Although there is still uncertainty, we do not see the impact of the COVID-19 pandemic having a materially negative effect on our financial condition or liquidity.

Revenue and profit

Oranjewoud N.V. aims its activities at five segments.

Consulting and Engineering Services

Half year

Half year

(in millions of euros)

2020

2019

Revenue from contracts with customers

216.7

211.6

Ebitda

14.4

17.5

Backlog

294.5

268.6

Number of employees (half year end)

3272

3251

In the first half of 2019, the segment Consulting and Engineering Services (Antea Group) (the Netherlands, France, the United States, Belgium, Spain, Poland, Brazil and India) has realized in the first half year of 2020, despite the outbreak of the Covid-19 pandemic, higher revenues than the first half of 2019. Due to Covid-19, the operational results in France and the United States are behind plan. The backlog is well filled.

Railsystems

Half year

Half year

(in millions of euros)

2020

2019

Revenue from contracts with customers

339.3

351.6

Ebitda

10.4

16.3

Backlog

1,593.8

1,641.7

Number of employees (half year end)

3618

3849

2

Revenues in the Rail Systems segment decreased modestly compared to the comparable period of the previous year. This is mainly due to a lower production volume in Sweden and Denmark as a result of the Covid-19 pandemic, which is partly compensated by the higher production volume in the Netherlands. Due to reorganizations, the number of employees decreased. The backlog is modestly lower than previous year.

Civil infrastructure

Half year

Half year

(in millions of euros)

2020

2019

Revenue from contracts with customers

184.6

258.9

Ebitda

6.3

9.2

Backlog

530.7

608.1

Number of employees (half year end)

1179

1256

In the Civil infrastructure segment, revenues have decreased due to the problems around both nitrogen/PFAS and Covid-19. Next to this, the revenues and result of the metro project in Riyadh are lower due to Covid-19. The results in the Netherlands are affected by a few reorganizations, but are stable. The backlog of the Civil Infrastructure segment is well filled. The number of employees decreased as a result of reorganizations within the divisions.

Technology and Buildings

Half year

Half year

(in millions of euros)

2020

2019

Revenue from contracts with customers

248.7

186.3

Ebitda

9.8

6.7

Backlog

746.8

850.6

Number of employees (half year end)

1845

1772

The increase in revenue in the Technology and Buildings segment is due to a growth in maintenance contracts as well as the number of large projects. This has resulted in a higher Ebitda. The backlog is well filled. As a consequence of the increase in revenue, the number of employees has increased as well.

Other

Half year

Half year

(in millions of euros)

2020

2019

Revenue from contracts with customers

30.2

33.4

Ebitda

0.1

0.7

Backlog

32.7

42.5

Number of employees (half year end)

134

180

The Other segment consists of Sports, Temporary Staff and Others. The decrease of the revenue and the backlog is realized by both Sport and Temporary Staff and the decrease in Ebitda is realized by Temporary Staff and Other.

Balance sheet and cash flows

The solvency at the end of the first half year 2020 is 17.0%. At the end of 2019 the solvency was 16.9%. The cash flows and cash position are in line with expectations.

Financing

Per June 30, 2020 Oranjewoud N.V. and Strukton Groep N.V. are compliant with respect to the covenants agreed with the banks.

Risks

The description of the main risks is included in the annual report 2019. The projections in this semi-annual statement are the same as those used in the preparation of the consolidated financial statements for the financial year 2019.

3

Outlook

The Board of Oranjewoud N.V. does not make statements with respect to revenues or profit for the whole financial year 2020.

Declaration of the board

This semi-annual report was not subjected to a review by an auditor.

The Board declares that, to the best of its knowledge:

  • this 2020 semi-annual report gives a true and fair view of the assets, liabilities, financial position and profit or loss of Oranjewoud N.V. and its consolidated companies;
  • this semi-annual report issued by the Board of Directors gives a fair view of the information pursuant to section 5:25d, subsection 8 and 9, of the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).

On behalf of the Board of Directors

Mr. G.P. Sanderink

September 25, 2020

4

ABBREVIATED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

(in thousands of euros)

06-30-2020

12-31-2019

Non-current assets

Intangible assets (1)

69,375

72,822

Property, plant and equipment (2)

155,568

163,715

Right-of-use assets

127,298

136,269

Investment property

4,742

4,864

Associates

37,096

41,871

Other financial non-current assets (3)

110,101

82,901

Deferred tax assets

51,174

48,206

555,354

550,647

Current assets

Inventories

30,712

25,905

Receivables (4)

393,758

542,612

Work in progress

342,543

274,903

Income tax receivables

22,809

12,736

Cash and cash equivalents (5)

277,212

282,664

1,067,034

1,138,820

Total assets

1,622,388

1,689,467

Equity attributable to equity

holders of the parent company

275,158

285,887

Non-controlling interests

1,804

1,719

Total equity (6)

276,962

287,606

Non-current liabilities

Deferred employee benefits

75,269

74,637

Provisions

50,258

50,391

Deferred tax liabilities

6,397

7,696

Lease liabilities

90,953

95,667

Subordinated loans (7)

21,000

11,000

Non-current liabilities (7)

246,667

238,166

Total non-current liabilities

490,544

477,557

Current liabilities

Trade payables

267,425

311,511

Amounts owed to credit institutions

58,358

56,888

Work in progress

152,639

205,398

Corporate income tax payable

2,008

4,667

Provisions

25,709

20,896

Lease liabilities

39,893

42,752

Other current liabilities (8)

308,851

282,193

Total current liabilities

854,882

924,305

Total equity and liabilities

1,622,388

1,689,467

*) Unaudited.

5

CONSOLIDATED STATEMENT OF INCOME

(in thousands of euros)

2020

2019

For the first half year: *)

Revenue from contracts with customers

1,019,483

1,041,841

Other operating income

358

151

Total operating income (10)

1,019,841

1,041,992

Project costs of third parties

(479,971)

(492,490)

Added value

539,870

549,502

Staff costs

(406,999)

(416,605)

Other operating expenses

(91,764)

(82,473)

Depreciation (12)

(41,332)

(36,543)

Total operating expenses

(540,095)

(535,621)

Operating profit

(225)

13,881

Finance revenue (13)

3,662

1,911

Finance costs (13)

(8,651)

(6,745)

Net finance revenue/(costs) (13)

(4,989)

(4,834)

Share in profit of associates

(1,247)

2,889

Profit before taxes

(6,461)

11,936

Income tax (14)

(3,871)

(5,092)

Net profit for the year

(10,332)

6,844

Attributable to:

Equity holders of the parent company

(10,512)

6,662

Non-controlling interests

180

182

EARNINGS PER SHARE (in euros)

Net earnings per share attributable to equity holders

of the parent company (basic and diluted)

(0.17)

0.11

Average number of shares outstanding

62,872,869

62,872,869

*) Unaudited.

6

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(in thousands of euros)

For the first half year: *)

2020

2019

Profit after taxes

(10,332)

6,844

Unrealized gains and losses

-

15,748

Other comprehensive income to be reclassified to

profit and loss in future periods

Currency translation differences

(217)

1,151

(217)

1,151

Other comprehensive income to be reclassified to

profit and loss in future periods

(217)

1,151

Total comprehensive income after taxes

(10,549)

23,743

Attributable to:

Equity holders of Oranjewoud

(10,728)

23,561

Non-controlling interests

180

182

Total comprehensive income after taxes

(10,549)

23,743

*) Unaudited.

7

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

(in thousands of euros)

Total equity

Attributable to equity holders of the parent company

Non-

Total

Issued

Share

Transla-

Hedge-

Actua-

Retained

Profit for

Total

control-

share

premium

tion dif-

reserve

rial

earnings

the finan-

capital

ling in-

capital

ferences

reserve

cial year

and

terests

reserve

reserves

Balance at January 1, 2019

6,287

201,896

3,920

(3,446)

(15,379)

81,191

10,919

285,388

41,727

327,115

Retained earnings for 2018

-

-

-

-

-

10,919

(10,919)

-

-

-

Subtotal

6,287

201,896

3,920

(3,446)

(15,379)

92,110

-

285,388

41,727

327,115

Result for the financial year

-

-

-

-

-

-

6,662

6,662

182

6,844

Unrealized gains and losses

-

-

1,151

-

-

15,748

-

16,899

-

16,899

Total comprehensive

income after taxes

-

-

1,151

-

-

15,748

6,662

23,561

182

23,743

Other changes

-

-

-

-

-

-

-

-

(40,323)

(40,323)

Balance at June 30, 2019 *)

6,287

201,896

5,071

(3,446)

(15,379)

107,858

6,662

308,949

1,586

310,535

Balance at January 1, 2020

6,287

201,896

4,420

(4,116)

(26,067)

107,846

(4,379)

285,887

1,719

287,606

Retained earnings for 2019

-

-

-

-

-

(4,379)

4,379

-

-

-

Subtotal

6,287

201,896

4,420

(4,116)

(26,067)

103,467

-

285,887

1,719

287,606

Result for the financial year

-

-

-

-

-

-

(10,512)

(10,512)

180

(10,332)

Unrealized gains and losses

-

-

(217)

-

-

-

-

(217)

-

(217)

Total comprehensive

income after taxes

-

-

(217)

-

-

-

(10,512)

(10,728)

180

(10,549)

Other changes

-

-

-

-

-

-

-

-

(95)

(95)

Balance at June 30, 2020 *)

6,287

201,896

4,203

(4,116)

(26,067)

103,467

(10,512)

275,158

1,804

276,962

*) Unaudited.

8

CONSOLIDATED STATEMENT OF CASH FLOWS

(in thousands of euros)

For the first half year: *)

2020

2019

Profit after taxes

(10,332)

6,844

Non-cash movements:

Profit/(loss) of associates

1,247

(2,889)

Corporate income tax

3,871

5,092

Finance revenue and costs

4,989

4,834

Depreciation and gain on sale of property, plant and equipment

41,332

36,543

Other changes lease

1,324

-

Change in provisions

4,004

92

Cash flow from operating activities before

changes in working capital

46,435

50,516

Changes in working capital:

Trade payables

(44,086)

(19,061)

Other current liabilities

14,946

(42,899)

Inventories

(4,806)

(1,079)

Work in progress

(121,796)

(95,471)

Trade receivables

60,877

36,816

Other receivables and prepayments and accrued income

89,664

26,279

Change in working capital

(5,201)

(95,415)

Received dividends of associates

-

2,811

Interest received

882

1,356

Interest leases paid

-

(897)

Income tax paid

(20,713)

(5,263)

(25,032)

(97,408)

Cash flow from operating activities

21,403

(46,892)

Investments in intangible assets

(380)

(933)

Investments in property, plant and equipment

(6,415)

(10,565)

Investments of associates

-

(545)

Investments in consolidated companies

-

(22,853)

Disposal of property, plant and equipment

764

(199)

Disposal of associates

3,075

(4,878)

Change in other financial non-current assets

(26,920)

1,933

Cash flow from investing activities

(29,876)

(38,040)

Drawings subordinated loans

10,000

10,000

Drawings loans

22,463

22,018

Repayments loans

(605)

(1,864)

Leases paid

(23,589)

(18,323)

Interest paid

(6,564)

(6,496)

Cash flow from financing activities

1,705

5,335

Net cash flow

(6,768)

(79,597)

Balance of cash and cash equivalents at January 1

265,776

253,625

Exchange differences on cash and cash equivalents

(154)

661

Balance of cash and cash equivalents

at June 30

note 5

258,854

174,689

*) Unaudited.

9

ACCOUNTING POLICIES

General information

Oranjewoud N.V. is a public limited liability company established under Dutch law in the Netherlands in Gouda, Antwerpseweg 8, and registered in the Dutch Trade Register under number 29030061. The shares of the company are listed on the official market of Euronext N.V. in Amsterdam. Sanderink Investments B.V. holds 98.96% of the shares in Oranjewoud N.V. Sanderink Investments B.V. is wholly owned by Gerard Sanderink's Stichting Administratiekantoor Sanderink Investments.

The semi-annual report 2020 was drawn up on September 25, 2020 by the Board of Directors and approved by the Supervisory Board.

Basis of preparation

The semi-annual report is a summary and does not contain all the information and explanatory notes found in the annual financial statements. It should therefore be read in conjunction with the 2019 financial statements. The semi-annual figures are given in euro's, which is the organization's functional currency.

The semi-annual report was prepared in accordance with the International Financial Reporting Standards (IFRS) as approved by the European Union. The same principles were applied in the preparation of this interim report as were applied in the 2019 financial statements. The 2019 financial statements, which provide a thorough treatment of these principles, are available on our website (www.oranjewoudnv.nl). The 2020 semi-annual report has been prepared in accordance with IAS 34 'Interim Financial Reporting'.

Risks and estimates

The preparation of this semi-annual report in accordance with IAS 34 requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities and of income and expenses. The estimates and associated assumptions are based on past experience and various other factors that are considered reasonable under the circumstances. The actual results may differ from these estimates. The estimates and underlying assumptions are constantly assessed. Revisions to estimates are recognized in the period in which the estimate is revised, or in future periods if the revision relates to future periods. The estimates in this semi-annual report are the same as those applied in the preparation of the consolidated financial statements for the financial year 2019.

Financial risk management

The Group has a strict policy that is aimed at limiting and controlling current and future risks as much as possible and minimizing the financial costs. This is achieved through general control measures, such as internal procedures and instructions and specific measures focusing on managing specified risks. The Group's financial risks mainly relate to interest rate risks, currency risks, credit risks and supplier risks. The risk of fluctuations in exchange rates and interest rates are partly hedged using various derivatives, as a result of which risks to which the primary financial instruments are subject are transferred to other contract parties. Interest rate and exchange risks are largely managed centrally. No speculative positions are taken. The manner in which these risks are hedged has not changed compared to year-end 2019.

Seasonal effects

The development of revenue and operational results in a calendar year is influenced by seasonal effects. Traditionally the revenue and profits show stronger growth in the second half of a calendar year. This seasonal pattern is particularly evident in the Rail systems, Civil infrastructure and Technology and Buildings segments as well as in Sports (in the segment Other).

10

1. Intangible fixed assets

Acquired participations generate cash flows either independently or with other components of the cash flows segment and are therefore defined internally as cash generating unit (CGU) either independently or together with these segment components. An impairment test is conducted on the capitalized goodwill once a year in accordance with IAS 36. We have considered the changes in economic and market circumstances due to Covid- 19 and considered it not necessary to impair goodwill of the CGUs.

2. Tangible fixed assets

The first half of 2020 saw € 6.4 million in investments in tangible fixed assets (10.6 million in the first half of 2019) and € 0.3 million in disposals (first half of 2019: € 0.3 million). These disposals involved a total purchase value of

  • 9.5 million (first half of 2018: € 3.3 million).

3. Other financial non-current assets

Non-cur-

Ppp-

Invest-

Financial

Total

rent recei-

recei-

ments

deri-

vables

vables

vatives

Carrying amount at January 1, 2019

26,122

34,933

1,810

14

62,879

Loans

286

22,647

-

-

22,933

Loan repayments

(5,278)

(453)

-

(14)

(5,745)

Accretion

-

2,145

-

-

2,145

Other changes

424

265

-

-

689

Carrying amount at December 31, 2019

21,554

59,537

1,810

-

82,901

Carrying amount at January 1, 2020

21,554

59,537

1,810

-

82,901

Loans

-

30,572

-

-

30,572

Other changes

(3,372)

-

-

-

(3,372)

Carrying amount at June 30, 2020

18,182

90,109

1,810

-

110,101

The ppp receivables are outstanding payments arising from concession agreements in the Netherlands. The term of the various ppp receivables is approx. 25 years. The majority (of the sum of the receivables) has a term of over five years. Given the nature of the contracting parties the credit risk has been estimated at zero.

4. Receivables

06-30-2020

12-31-2019

Receivables from affiliated companies

13

9

Trade receivables

314,865

375,742

Taxes and social security

10,190

18,814

Other receivables

14,654

96,226

Prepayments and accrued income

54,037

51,821

393,758

542,612

11

5. Cash and cash equivalents

06-30-2020

12-31-2019

Banks

277,201

282,579

Cash

11

85

277,212

282,664

Amounts owed to credit institutions:

Part of the cash management system of the Group

18,358

16,888

Not a part of the cash management system of the Group

40,000

40,000

58,358

56,888

For the statement of cash flows:

Cash and cash equivalents

277,212

282,664

Subtracting: amounts owed to credit institutions part of the

cash management system of the Group

18,358

16,888

Balance of cash and cash equivalents

258,854

265,776

A market-based interest is paid on bank balances.

The sum of cash and cash equivalents includes bank balances, deposits and cash balances. Bank debts that are payable on demand and that constitute an integral part of the cash management system of the company are included in the cash and cash equivalents in the cash flow statements.

Liquid assets include cash from construction consortiums in the amount of € 118.4 million (2019: € 172.6 million)

and cash received on blocked accounts in the amount of € 1.3 million (2019: € 1.6 million). This cash is not at the disposal of the company.

The funds included in construction consortiums relate to funds in joint ventures whereby it is contractually stipulated that the liquid assets may not be freely available. The cash received on blocked accounts mainly concerns the G-accounts within the framework of the Dutch Chain Liability Act (Wet Ketenaansprakelijkheid). The remaining liquid assets are entirely at free disposal.

6. Group equity

Equity capital attributable to parent company shareholders Capital

On June 30, 2020 the authorized capital amounted to € 10,000,000, consisting of 100,000,000 A and B shares of

  • 0.10 each. The issued and paid capital amounted to 62,872,869 shares of € 0.10 each. On June 30, 2020 the issued capital consists of € 2,955,307 A shares and € 3,331,980 B shares. Unlike with A shares, no stock exchange listing has been requested for the B shares. There is no difference in terms of control or profit between the A shares and the B shares.

The articles of association of the company stipulate that the issue of shares takes place pursuant to a decision by management. The company may acquire fully paid-up shares, but only for no consideration. Acquisition other than for no consideration can only take place if the general meeting has authorized the board to do so.

Unrealized gains and losses

The increase of the unrealized gains and losses is the result of exchange rate differences.

12

Dividend

No dividend was paid in the reporting period.

  1. Subordinated loans and non-current liabilities Subordinated loans
    The subordinated loans concerns loans granted by associated party Sanderink Investments B.V., with a term of
  1. years. Early repayment is possible. Interest on the loan is payable at a rate of 5.0%.

Subordination applies to all obligations of the Group towards the lender (Sanderink Investments B.V.), ensuing from this subordinated loan in relation to all current and future receivables of Rabobank under the Rabobank Loan Agreement, both in cases of bankruptcy as suspension of payments on the part of the borrower.

Non-current liabilities

06-30-2020

12-31-2019

Total current and non-current liabilites

267,141

245,283

Less:

Current portion of non-current liabilities

(20,474)

(7,117)

Non-current liabilities

246,667

238,166

Property, plant and equipment financing

532

533

Term loan

31,254

31,186

Debts financing real estate projects

1,453

1,679

Bankloans

43,015

32,880

Groupe IRH

1,117

1,117

Non-recoursePpp-financing

169,286

170,383

Other non-current liabilities

10

388

246,667

238,166

8. Other current liabilities

30-06-2020

31-12-2019

Repayment obligations

20,474

7,117

Debts to affiliated companies

406

339

Debts in respect of other

taxes and contributions

73,553

70,952

Pension obligations

6,883

2,959

Other liabilities

114,117

113,464

Accrued liablities

93,417

87,362

308,851

282,193

The other debts and the accrued liabilities mainly consist of invoices to be received for completed work and accrued holiday pay and accrued leave.

13

9. Financial instruments

The main financial instruments of the Group include bank loans and credits and cash and cash equivalents. The Group also uses interest rate swaps and inflation swaps to hedge the interest and inflation risks arising from corporate and project financing. The main purpose of the financial instruments is to attract financing for the Group's operating activities. In addition, there are various other financial fixed assets and liabilities, such as trade receivables and debts to suppliers, which arise directly from the operating activities. No derivatives or financial instruments are held for trading purposes.

All financial assets and liabilities with the exception of the ppp receivables, annuity loans and derivatives valued at fair value are valued in accordance with the category "loans and receivables" as referred to in IAS 39.

10. Segmented information

The distribution of revenue and profit/loss, as well as the balance sheet item distribution by company segment are as follows:

In millio ns o f euro s

Consulting

Rail

Civil

Technolo gy

Other

Eliminatio ns

To tal

Total

and Engineering

and Buildings

Services

F o r the firs t ha lf yea r:

20 20

2019

2 02 0

2019

20 2 0

2019

2 0 20

2019

2 02 0

2019

20 20

2019

2 011

2010

20 2 0

2019

Revenue from pro jects

2 16

.7

211.6

2 11.4

234.5

170

.5

242.3

151.6

99.5

2 7 .1

28.7

7 77

.3

816.6

Revenue from seco ndment

3 .1

4.7

3 .1

4.7

Revenue from maintenance

119

.8

114.8

1.3

9 7

.0

86.8

216

.8

202.9

Revenue from inventory

3

.7

4.3

3

.7

4.3

Revenue o ther

8 .1

2.3

10

.4

11.0

0 .1

18

.6

13.3

Revenue from co ntracts

with custo mers (external)

2 16

.7

211.6

3 3 9

.3

351.6

184

.6

258.9

24 8

.7

186.3

30

.2

33.4

1,019

.5

1,041.8

B etween segments

7

.6

9.2

4 .1

3.1

7

.6

5.7

6 .1

3.8

4

.8

3.2

- 3 0 .2

-25.0

Net pro fit

2

.2

7.1

- 12

.8

-1.4

- 0 .9

3.0

3

.7

0.7

- 2

.5

-2.6

- 10 .3

6.8

To tal assets

4 10

.5

390.1

7 0 9

.8

714.9

28 1.0

444.4

43 6

.2

419.1

- 9

.8

-3.3

- 20 5 .3

-140.6

1,6 22 .4

1,824.6

The geographical spread is as follows:

In millio ns o f euro s

The Nether-

Italy

Sweden

Other

US

So uth-A merica

A sia

M iddle East

To tal

lands

Europe

F o r the firs t ha lf yea r:

2 0 20

2019

20 2 0

2019

2 02 0

2019

2 0 20

2019

20 2 0

2019

2 02 0

2019

20 2 0

2019

2 02 0

2019

2 0 20

2019

Revenue fro m projects

5 23

.9

503.4

6 2

.8

67.2

17

.7

27.5

88

.6

110.9

3 4.7

35.0

2 .4

1.7

1.0

1.2

4 6 .2

69.7

7 77

.3

816.6

Revenue fro m seco ndment

3.1

4.7

3.1

4.7

Revenue fro m maintenance

149

.8

129.6

6 7

.0

73.7

-0.4

2 16

.8

202.9

Revenue fro m inventory

3

.7

4.3

3

.7

4.3

Revenue o ther

12

.5

13.3

0

.5

5

.6

18

.6

13.3

Revenue fro m co ntracts

with custo mers (external)

6 93

.0

655.3

6 3

.3

67.2

9 0

.3

101.2

88

.6

110.5

3 4.7

35.0

2 .4

1.7

1.0

1.2

4 6 .2

69.7

1,0 19

.5

1,041.8

To tal assets

9 30

.0

1,104.0

29 1.9

264.7

112

.6

114.0

2 08

.7

207.9

5 0.9

34.8

2 .5

4.7

4 .1

0.3

21.7

94.2

1,6 22

.4

1,824.6

11. Related parties

Sanderink Investments B.V., with its participations is identified as a related party. Oranjewoud N.V. is owned for 98.96% by Sanderink Investments B.V. Sanderink Investments B.V. is 100% owned by Stichting Administratiekantoor Sanderink Investments of Gerard Sanderink. The related parties of the Group comprise the associates and joint ventures, the directors and other related parties.

Related party purchases are procured at normal market prices and comprise IT-related purchases in the normal course of business of both Oranjewoud N.V. and the other companies that are part of the Group. The total sum of these purchases amounts to € 1.7 million in the first half of 2020 (first half 2019: € 1.9 million). At June 30, 2020 the balance of outstanding receivables and liabilities resulting from transactions with Sanderink Investments B.V. amounted to a debt of € 0.4 million (on December 31, 2019: a debt of € 0.3 million).

Outstanding balances as at the half-year end are not covered by collateral securities, are not interest bearing and will be settled in cash. Current account relationships with related parties abroad are interest bearing, with an interest that deviates slightly from the prevailing variable market rate. No guarantees have been offered or received for receivables from or liabilities to related parties.

Additionally, on June 30, 2020 there are subordinated loans by Sanderink Investments B.V. of € 21 million (December 31, 2019: € 11 million).

14

12. Depreciation

Depreciation consists of depreciations on intangible fixed assets (amortization) and depreciations on tangible fixed assets. The structure of depreciation costs is as follows:

2020

2019

Intangible fixed assets (amortization)

3,827

4,444

Tangible fixed assets

13,843

13,535

Right-of-use assets

23,662

18,564

41,332

36,543

13. Finance revenue and costs

2020

2019

Finance revenue:

Interest income

3,147

1,537

Result on investments

10

-

Exchange gains

505

374

3,662

1,911

Finance costs:

Interest expense for bank debt and

affiliated companies

(6,936)

(5,838)

Interest costs leases

(1,006)

(898)

Exchange losses

(709)

(9)

(8,651)

(6,745)

Total finance revenue and costs

(4,989)

(4,834)

14. Taxation

The reported corporate income tax differs from the amount that theoretically would have been due if the nominal tax rate had been applied. The difference in tax burden is due to the fact that no deferred tax asset has been accounted for in loss making areas.

15. Subsequent events

There are no subsequent events.

15

SHAREHOLDER INFORMATION

Dutch Disclosure of Major Holdings Act (Wet Melding Zeggenschap)

Up to and including June 30, 2020 the following notification of share ownership has been received:

Sanderink Investments B.V.

98.87%

Sanderink Investments B.V. is 100% owned by Gerard Sanderink's Stichting Administratiekantoor Sanderink Investments.

Transaction summary issued share capital

As of June 30, 2020 and December 31, 2019 the authorized share capital consisted of 100,000,000 ordinary shares of € 0.10 each.

2020

2019

Balance at January 1

62,872,869

62,872,869

Dividend

-

-

Balance at June 30

62,872,869

62,872,869

Changes second half year

-

Balance at December 31

62,872,869

NOT INTENDED FOR PUBLICATION

For further information:

Oranjewoud N.V.

Telephone: + 31 (0)36 530 81 91

email: ir@oranjewoudnv.nl

About Oranjewoud N.V.

Oranjewoud N.V., the top holding of Strukton Groep and Antea Group, is a listed enterprise encompassing companies operating both nationally and internationally. The companies belonging to Oranjewoud N.V. operate in the areas of civil infrastructure, railsystems, technology and buildings, the environment, spatial development and water. This covers the whole process, from preliminary studies, consultancy, design, planning and organization, right up to realization, management and operation.

Oranjewoud N.V. is listed on the official Euronext NV stock exchange in Amsterdam and is 98.96% owned by Sanderink Investments B.V. It employs around 10,000 people with a total revenue from contracts with customers of € 2.4 billion in 2019.

For further information, please visit www.oranjewoudnv.nl

16

Disclaimer

Oranjewoud NV published this content on 07 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2020 12:49:04 UTC


© Publicnow 2020
All news about ORANJEWOUD N.V.
2020ORANJEWOUD N : Semi-annual financial report 2020
PU
2020ORANJEWOUD N : Annual report 2019
PU
2020ORANJEWOUD N.V. : Corporate Officers and Executives' transactions in the company..
CO
2020ORANJEWOUD N : 2019 Annual Figures for Oranjewoud N.V. (press release)
PU
2020ORANJEWOUD N.V. : Corporate Officers and Executives' transactions in the company..
CO
2020ORANJEWOUD N.V. : Corporate Officers and Executives' transactions in the company..
CO
2019ORANJEWOUD : Corporate Officers and Executives' transactions in the company's se..
CO
2019ORANJEWOUD : Corporate Officers and Executives' transactions in the company's se..
CO
2019ORANJEWOUD : Corporate Officers and Executives' transactions in the company's se..
CO
2019ORANJEWOUD : Corporate Officers and Executives' transactions in the company's se..
CO
More news
Financials
Sales 2019 2 366 M 2 860 M 2 860 M
Net income 2019 -4,38 M -5,29 M -5,29 M
Net Debt 2019 169 M 204 M 204 M
P/E ratio 2019 -87,6x
Yield 2019 -
Capitalization 368 M 445 M 445 M
EV / Sales 2018 0,17x
EV / Sales 2019 0,23x
Nbr of Employees -
Free-Float 1,04%
Chart ORANJEWOUD N.V.
Duration : Period :
Oranjewoud N.V. Technical Analysis Chart | ORANW | NL0000370419 | MarketScreener
Technical analysis trends ORANJEWOUD N.V.
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Managers and Directors
NameTitle
Gerard P. Sanderink Chief Executive Officer
Herman G. B. Spenkelink Chairman-Supervisory Board
Wim G. B. te Kamp Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
ORANJEWOUD N.V.0.86%445
VINCI SA-5.56%52 242
CHINA STATE CONSTRUCTION ENGINEERING CORPORATION LIMITED-1.41%31 655
LARSEN & TOUBRO LIMITED5.74%26 147
CHINA RAILWAY GROUP LIMITED3.61%19 137
FERROVIAL, S.A.-10.93%17 618