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 Trading Update For The Third Quarter Of 2013: Disappointing Third-Quarter Operations

NIEUWEGEIN, The Netherlands, October 25, 2013 /PRNewswire/ --

  • Ongoing reorganization affects approximately 250 jobs
  • Stable order book of € 1 630 million
  • Revised forecast for 2013: operational loss

Construction and infrastructure markets were under sustained pressure. As a consequence, competition and price pressure have continued to increase. We expect this situation to persist for some time.

The third-quarter results were disappointing. Unfavourable results were achieved on a major project and several regional infrastructure projects. These had started before the restructuring of the regional infrastructure companies concerned that was set in motion at the end of last year. The risk profile has also increased because of uncertainty surrounding substantial additional work on a major project. There were also substantial losses at two specialized companies.

The regional construction companies, the specialized companies and the head office will be further reorganized in the fourth quarter, with the loss of some 250 jobs, and a reorganization expense of approximately € 7 million. Management changes have been made in the regional construction companies and specialized companies.

The order book grew in the third quarter from € 1 567 million at half year to € 1 630 million, because of the Zaanstad Penitentiary PPP project, the E and F piers at Schiphol Amsterdam Airport, the development of (Y)ours Leiden, and 157 newly built homes in Amsterdam.

The Pi2 consortium, a joint undertaking of Ballast Nedam (65%) and Royal Imtech (35%), reached financial close for the Zaanstad Penitentiary PPP project. Pi2 is responsible under the DBFMO contract with the Government Buildings Agency for the design, new construction, financing, maintenance and technical facilities management for a 25-year period after the penitentiary becomes available. Financial close was also reached for the work for Schiphol Amsterdam Airport's transition to central security. Ballast Nedam is constructing an overlay on the E and F piers and a terminal extension between these.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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