This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Infrastructure's total assets declined from € 228 million to € 214 million.

The order book contracted from € 1152 million at year-end 2011 to € 900 million because of good progress on several major multiyear projects, and the absence of new large project acquisitions in the past year. In the next few years there will be substantial production from attractive projects, such as the A2 in Maastricht, which was acquired in a new contract form, and the large multiyear PPP project for the Maasvlakte - Vaanplein section of the A15. Among the good news was the completion early this year of the financing for the major Butendiek offshore wind turbine project in Germany. The contract for the design, delivery and installation of eighty foundations for approximately € 250 million was already in the order book at year-end 2011. Also in early 2013, Ballast Nedam acquired a contract for a wind farm in the Northeast Polder. Ballast Nedam is designing, delivering and installing the foundations for 48 water-based wind turbines along the dikes of the polder. Financial close must be reached in the spring of 2014, and the project has yet to be added to the order book.

    Building & Development

    x EUR 1 million          2012   2011

    Revenue                   573    642
    EBIT                     ( 26)     8
    Margin                   (4.6%)  1.2%
    Order book                731    693
    Assets                    314    346

The markets continued to deteriorate in the past year, and we expect a further decline in volume in the coming year, for which reason competition for new projects is stiff, leading to lower prices. The housing market has stalled completely because of low consumer confidence, which is attributable to the now implemented constraints on acquiring home loans, falling prices, and the constantly changing tax treatment of mortgage interest. The housing associations' more limited scope for investment has increased pressure on the volume in the housing market. We are more optimistic about the housing market in the longer term. The sustained population growth, the smaller numbers of occupants in each home, and several years of low housing production are increasing the shortage, in terms of both quantity and quality. The office market will take longer to recover, in view of the current number of vacant properties and the trend towards using ever less office space for each employee. The renovation and maintenance market, and the transformation of vacant property to serve different functions, present good opportunities.

4 of 15

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,583.95 -88.65 -0.50%
S&P 500 2,049.98 -1.84 -0.09%
NASDAQ 4,751.5820 -6.2970 -0.13%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs