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TheStreet Open House

Ballast Nedam Annual Figures For 2012: Tough Year, Firm Intervention, Accelerated Profile Change

Strategy

In summary, the strategic objectives for 2013 are:

  1. to acquire more integrated projects and apply the life-cycle management approach more by expanding management, maintenance and renovation;
  2. to strengthen the position in the industrial construction, offshore wind turbines, secondary raw materials and alternative fuels niche markets;
  3. to strengthen the position in, and to develop, the modular building concept;
  4. to achieve the CSR objectives;
  5. to improve the financial position.

In the coming year the financial position will be improved by achieving result, the accelerated administration of claims and the sale of property and other assets.

Ballast Nedam's shares

There were 9,667,500 shares in issue at year-end 2012 out of the 10 million issued shares. At year-end Ballast Nedam held 332,500 shares in portfolio to hedge the obligations arising from the current management option scheme. The average basic earnings per share declined from € 0.93 in 2011 to € 4.24 negative.

The Ballast Nedam share price quoted at the end of 2011 on NYSE Euronext was 13.39 euros. The year 2012 ended with a 27% lower price of € 9.82. The highest closing price of € 14.24 was reached on 16 March 2012. The lowest closing price of € 9.30 was quoted on 27 November 2012. The Amsterdam Small Cap Index (AScX), where the Ballast Nedam shares are included, rose by 7% in 2012. The average equity per share in issue was € 13.55. At year-end the market capitalization was 72% of shareholders' equity. The corresponding figure at year-end 2011 was 75%.

According to shareholdings reported, Hurks group with 20.0%, and Navitas with 15.4%, were the largest shareholders at year-end 2012. Other parties holding 5% or more of the shares or depository receipts for shares in Ballast Nedam at year-end were Delta Lloyd Holdings Fund, Delta Lloyd Levensverzekeringen, Menor Investments, Via Finis Invest and Bibiana Beheer.

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