Ackermans & van Haaren: Annual Report 2012 (Belgium)
Pursuant to the Royal Decree of 14 November 2007 on the obligations of issuers of financial instruments admitted to trading on a Belgian regulated market, Ackermans & van Haaren is required to publish its annual financial report.
This report contains the combined statutory and consolidated annual report of the board of directors prepared in accordance with article 119, last paragraph of the Company Code.
Ackermans & van Haaren is a diversified group active in 5 key segments:
– Marine Engineering & Infrastructure (DEME, one of the largest dredging companies in the world);
– Private Banking;
– Real Estate, Leisure & Senior Care;
– Energy & Resources;
– Development Capital.
DEME ended the transitional year 2012 with a net profit of 89.4 million euros.
The results of the second half of the year showed a firm recovery. By winning some major new contracts in Australia, Africa, the Middle East and in offshore wind, DEME’s order book closed at 3,317 million euros. Within the Marine Engineering & Infrastructure segment, Rent-A-Port contributed positively thanks to the strong performance of its Vietnamese operations.
In the Marine Engineering & Infrastructure segment, the turnover and EBITDA of DEME increased by 8.5% and 17% to 1,915 million euros (1,766 million euros in 2011) and 351 million euros (300 million euros in 2011) respectively. On the other hand, the net profit decreased to 89.4 million euros (104.1 million euros in 2011), due partially to increased depreciation and financial charges. The record order book of DEME (3,317 million euros at year-end 2012 compared to 2,404 million euros in 2011) constitutes a solid basis for the current year.
The shift of activities to Australia and the Middle East continues. The Western European operations remain stable.
Following the expansion of the fleet with 7 vessels in 2012, DEME now has the necessary state-of-the-art and appropriate capacity to execute its order book in the most productive way. The diversification into wind farms, offshore and jack-up vessels, oil and gas, environment, services and concessions underscores the company’s potential for continuing future growth.
Press Release, March 29, 2013