Review

The average number of shares traded each day fell to around 91,000 in 2020, compared with 100,000 in the previous year. This reduced the average daily trading volume by CHF 0.3 million to CHF 3.0 million (from CHF 3.3 million). Implenia’s closing share price at the end of 2020 was CHF 24.04 (closing price 2019^¹: CHF 39.26), a decline of around 30%.

Source: Bloomberg

1 Share price before 2020 adjusted for Ina Invest spin-off

No dividend to be paid after an extraordinary year

Owing to the necessary and unavoidable write-downs, restructurings and other measures taken in 2020, the Board of Directors of Implenia is proposing to the General Meeting of Shareholders of 30 March 2021 that the company pays no dividend for the 2020 financial year. Implenia shareholders received a dividend in kind from the Ina Invest transaction amounting to a maximum CHF 1.20 per share in 2020.

Index membership

• SPI
• SPI ESG
• SPI ESG Weighted
• SPI ex SLI
• SPI EXTRA
• Swiss All Share

1 Share price before 2020 adjusted for Ina Invest spin-off

2 2019: Plus dividend in kind from the Ina invest transaction of max. CHF 1.20 per share; 2020: Subject to approval by the General Assembly

3 Based on number of outstanding shares at 31.12.

Coverage of Implenia’s shares

Investment specialists continuously analyse Implenia’s business performance, results and market situation. Five analysts regularly publish studies on Implenia shares.

Status: 26.2.2021

Credit ratings

Implenia Ltd. has no official credit rating from a credit rating agency. The listed ratings are based on each bank’s internal criteria. Please note that credit ratings can change at any time.

Status: 26.2.2021

Outstanding bonds

The CHF 175 million issue (0.500% coupon) is a subordinated convertible bond, which has had a reduced conversion price of CHF 66.15 since 12 June 2020 because of the Ina Invest transaction (conversion price before reduction: CHF 75.06). The convertible bond is convertible into 2.3 million registered shares of Implenia Ltd., equivalent to around 12.6% of outstanding registered shares. The shares to be delivered on conversion will be made available by providing new shares from conditional capital.

Outstanding promissory note loans

In June 2017, Implenia issued a promissory note loan (private placement), for a total amount of EUR 60 million. The three EUR-denominated tranches have fixed interest rates and maturities of four, six and eight years.

Syndicated loan agreement

On 22 August 2012, Implenia signed an agreement for a revolving syndicated credit facility of CHF 800 million. The unsecured facility consists of a revolving loan and a guarantee facility with a term to 31 December 2023. It was confirmed by the banking syndicate on 10 November 2020. No liquidity was drawn down from the usable portion of the credit facility by the balance sheet date. The size of the facility was adjusted with the lenders after the balance sheet date. The guarantee facility of CHF 550 million is unchanged. In order to align the loan with short-to-medium-term activities and to save on commitment fees, the cash portion of the credit facility was reduced to CHF 100 million.

1 Incl. subordinated convertible bond

2 Excl. temporary staff

1 Basis: consolidated revenue

Increasing value through sustainability

Sustainability is an integral component of our business and our value system. This makes Implenia’s shares and bonds attractive to investors who take a socially responsible approach to investment (SRI).

Certification and ratings

Implenia is certified under the ISO 14001 standard – Environmental Management – and has pursued its own sustainability strategy since 2009. Our sustainability reporting is based on the Global Reporting Initiative (GRI).

Our commitment has been recognised in a series of external ratings. We are one of the leading construction companies for sustainability. Implenia received an AA rating from MSCI ESG and is covered by sustainability research units at various Swiss banks.

Pioneer of “green” credit financing

The world’s leading provider of research and ratings on environmental, social and governance (ESG) issues currently puts Implenia on an outstanding 79 points. This makes Implenia an industry leader, as well as a pioneer of “green” credit financing. Implenia is the first industrial company in Switzerland to have a syndicated loan partially linked to its Sustainalytics rating. Thanks to its current good rating, Implenia enjoys better borrowing conditions.

More information can be found in Insight “Sustainably into the future”and in Implenia’s latest Sustainability Report sustainabili​​​​​​​ty.implenia.com ​​​​​​​

The fact that Implenia’s many years of sustainability work are having a clear monetary impact on its funding situation marks a very important milestone.

Communications

Implenia follows an open, transparent and timely information policy in the interests of its shareholders, investors and the general public. In its periodic and ad hoc reporting, Implenia is committed to equal treatment of all stakeholder groups with regard to timing and content. Comprehensive information is available to all investors, journalists and interested members of the public on the “Investors” and “Media” pages of www.implenia.com.

Interested parties can subscribe to our ad hoc communications by clicking through to the “Media/News Service” page on the site. As in previous years, in 2020 the CEO, CFO and Investor Relations presented the company to institutional investors at roadshows, conferences and meetings, as well as at a Capital Market Day. On 27 October 2020, Implenia also provided information about write-downs, the impact of COVID-19 and the accelerated implementation of the “portfolio” and “profitable growth” strategic priorities. As is traditional, Implenia held two conferences for analysts and the media on the half- and full-year results in 2020, as well as organising a Capital Market Day that focused on Implenia and the Ina Invest transaction.

Contacts

For ongoing communication with shareholders, investors, journalists and analysts:

Franziska Stein

Head Investor Relations

T +41 58 474 35 04

ir@implenia.com

Silvan Merki

Chief Communications Officer

T +41 58 474 74 77

communication@implenia.com