Ackermans & van Haaren Achieves Net Profit of EUR 293.9 M
- Business & Finance
Ackermans & van Haaren ended the 2013 financial year with a consolidated net profit of 293.9 million euros. This result includes a remeasurement income of 109.4 million euros which AvH had to recognize under the IFRS rules on the contribution of its 50% stake in DEME to CFE when it acquired control over CFE in December 2013.
Excluding that remeasurement income, the net profit amounts to 184.5 million euros (5.51 euros per share), which is a 10% increase on the net profit of 167.3 million euros in 2012. 2013 at a glance.
The particularly high level of activity at DEME was reflected in a turnover that for the first time topped 2.5 billion euros as well as in a higher net profit (109.1 million euros). As of 24 December 2013, AvH exercises exclusive control over CFE (and therefore over DEME as well) with a 60.4% stake.
Since this transaction took place just a few calendar days before the year-end, the impact on the income statement of AvH in 2013 is limited to the remeasurement under IFRS of the 50% stake in DEME which AvH contributed to CFE in the amount of 550 million euros.
Press Release, April 1, 2014