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

Phase 1B of (Y)ours Leiden consists of 117 starters' apartments, 60 of which are for rent and 57 owner-occupied. More than 90% of the owner-occupied homes have been sold. VORM Ontwikkeling, Ballast Nedam and Syntrus Achmea Real Estate & Finance are developing and constructing (Y)ours Leiden, the most sustainable student campus in Europe, with 1900 student apartments, 205 starters' homes, and associated facilities.

On behalf of the Ymere housing association, two of the five apartment buildings on Tugelaweg in Amsterdam-Oost are being replaced by mixed new building. The 157 newly built homes are a combination of 85 social housing units, 33 for market rent, and 39 owner-occupied.

Not yet included in the order book is the integrated performance contract for the operational management and maintenance of all dry infrastructure for the Port of Rotterdam for a five-year period, which Ballast Nedam won in the third quarter. Student accommodation organization DUWO has recently opted for modular construction for the final phase of the Uilenstede campus redevelopment and new construction in Amstelveen. The building of 233 new homes will have exactly the same appearance as the other new campus buildings. Modular building up to eleven floors is a first for Ursem Modular Building Systems.

The net financing position comprised a debt position of € 116 million, which includes net cash of € 44 million. The debt position at half year was € 124 million. The financing requirement is higher in the course of a year than at year-end.

The sale of the raw material company Yvoir was completed in July. This sale is in line with Ballast Nedam's objective to improve the financial position. Negotiations are ongoing regarding the sale of the interest in the raw material company Beheermaatschappij Bontrup. Agreement on terms has yet to be reached with Remex Mineralstoff, which had made a non-binding bid for Feniks Recycling.

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