Implenia expects 2020 EBITDA of around CHF -5 million
Based on current information, Implenia expects an EBITDA of around CHF -5 million for FY2020, exceeding the previous forecast of CHF -70 million that was communicated as part of «Way Forward» in October 2020
Dietlikon, 18 February 2021 - 2020 was characterized by a number of one-time effects that had an impact on Implenia's profitability, such as write-downs and re-evaluations of legacy projects and litigations, a restructuring program, the spin-off of part of Implenia's development portfolio to create Ina Invest and a challenging market environment due to COVID-19.
Implenia expects a significantly higher EBITDA than forecasted for the 2020 financial year. Main drivers were positive project developments in all Divisions compared to the estimate in October 2020 and lower than anticipated restructuring costs to achieve the target organization with annual savings of > CHF 50 million by 2023. In addition, positive one-time effects mainly from reduced cost under IAS19 were beneficial.
All other key metrics communicated in relation to "Way Forward" in October 2020 remain unchanged.
A detailed review of the financial year 2020 and the outlook for 2021 will be published on 3 March 2021.
Investors' diary: 03 March 2021: Annual results 2020, analysts and media conference 30 March 2021: Annual General Meeting
As Switzerland's leading construction and real estate service provider, Implenia develops and builds homes, workplaces and infrastructure for future generations in Switzerland and Germany. It also plans and builds complex infrastructure projects in Austria, France, Sweden and Norway. Formed in 2006, the company can look back on around 150 years of construction tradition. The company brings together the know-how of its highly skilled consulting, planning and execution units under the umbrella of an integrated leading multi-national construction and real estate service provider. With its broad offering and the extensive experience of its specialists, the Group can realise complex major projects and provide customer-centric support across the entire life-cycle of a building or structure. It focuses on customer needs and on striking a sustainable balance between commercial success and social and environmental responsibility. Implenia, with its headquarters in Dietlikon near Zurich, employs more than 10,000 people across Europe and posted revenue of over CHF 4.4 billion in 2019. The company is listed on the SIX Swiss Exchange (IMPN, CH0023868554). More information can be found at implenia.com.