Ackermans & van Haaren Posts Strong Results

Ackermans & van Haaren, 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 and Development Capital, ended the 2014 financial year with a consolidated net profit of 215.1 million euros, or a 30.6 million euro increase (+16.6%) on the previous year (184.5 million euros, excluding remeasurement).

This profit increase illustrates the strength of the results of the subsidiaries. The board of directors will propose to the next General Meeting to increase the dividend to 1.82 euros per share.

DEME recorded a strong result for 2014. A net profit of 169.0 million euros was realized on an (economic) turnover of 2,587 million euros, making a contribution of 103.0 million euros to AvH’s group result.

The major projects in Australia, Russia, Egypt and Qatar were successfully executed, while the many other projects on the different continents also contributed to the good result. In the first few weeks of 2015, DEME added new orders worth a total of 1.6 billion euros to its order book of 2.4 billion euros at year-end 2014.

By controlling capital expenditure (net 145.6 million euros) and a favorable development of the working capital, DEME was able to reduce its net financial debt to 213 million euros at year-end 2014. CFE realized a 10.5% turnover increase to 1,073.3 million euros in its construction activities (incl. multitechnics, rail & road).

Although there was an improvement in the net result, it still remained -14.5 million euros in the red owing to problems in Nigeria, Hungary and a few sites in Belgium. Although the real estate development and concession activities made a positive contribution, this was still insufficient to offset the losses in the contracting division.

After reduction of the amount for contingent liabilities provided for at the acquisition of control in 2013, CFE’s contribution (excluding DEME and Rent-A-Port) to AvH’s group result came to -3.4 million euros.

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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