ARCADIS Publishes Annual Report 2008
April 1, 2009
ARNHEM,
(EURONEXT: ARCAD), the international design, consulting, engineering and
management services company, announces today that the Annual Report 2008 is
now available digitally on the company website: http://www.arcadis-global.com.
About us:
ARCADIS is an international company providing consultancy, design,
engineering and management services in the field of infrastructure,
environment and buildings. We aim to enhance mobility, sustainability and
quality of life by creating balance in the built and natural environment.
ARCADIS develops, designs, implements, maintains and operates projects for
companies and governments. With more than 14,000 employees and over
billion
that is supported by strong local market positions.
ARCADIS NV
Consolidated Statement of Income
Amounts in EUR millions, Fourth quarter Full year
unless otherwise stated
2008 2007 2008 2007
Gross revenue 485.4 422.3 1,739.9 1,510.2
Materials, services of
third parties and
subcontractors (173.1) (151.3) (578.0) (505.7)
Net revenue 312.3 271.0 1,161.9 1,004.5
Operational cost (261.4) (233.4) (1,008.7) (878.5)
Depreciation (6.3) (6.5) (23.3) (20.4)
Other income - 1.6 1.9 1.6
EBITA 44.6 32.7 131.8 107.2
Amortization identifiable
intangible assets (4.0) (4.1) (12.2) (12.2)
Operating income 40.6 28.6 119.6 95.0
Net finance expense (8.7) (2.3) (23.6) (8.6)
Income from associates (0.2) (0.2) (0.1) (0.8)
Profit before taxes 31.7 26.1 95.9 85.6
Income taxes (11.6) (8.5) (32.9) (28.1)
Profit for the period 20.1 17.6 63.0 57.5
Attributable to:
Net income (Equity holders
of the Company) 17.3 17.8 57.3 54.9
Minority interest 2.8 (0.2) 5.7 2.6
Net income 17.3 17.8 57.3 54.9
Amortization identifiable
intangible assets after taxes 2.5 2.7 8.1 7.9
Non-recurring income, net
of taxes (1.0) (1.0)
Option costs UK share save
scheme - 0.1 0.2 0.1
Net effects of financial
instruments 2.4 (0.4) 4.4 0.4
Net income from operations 22.2 19.2 70.0 62.3
Net income per share (in
euros)(1) 0.29 0.29 0.95 0.90
Net income from operations
per share (in euros) (1) 0.37 0.31 1.16 1.02
Weighted average number of
shares (in thousands) (1) 60,197 60,732 60,519 60,990
(1) The comparison figures have been adjusted to reflect the 3:1 stock
split as effectuated in the 2nd quarter.
ARCADIS NV
Condensed Consolidated Balance Sheet
Amounts in EUR millions December 31, 2008 December 31, 2007
Assets
Non-current assets 362.5 332.9
Current assets 695.9 588.8
Total 1,058.4 921.7
Equity and Liabilities
Shareholders' equity 207.6 187.7
Minority interest 12.3 11.5
Total equity 219.9 199.2
Non-current liabilities 316.4 216.7
Current liabilities 522.1 505.8
Total 1,058.4 921.7
ARCADIS NV
Changes in Shareholders' Equity
Amounts in Share capital Share premium Cumulative translation
EUR millions reserve
Balance at
December 31,
2006 1.0 36.4 (7.6)
Exchange
rate
differences (22.2)
Taxes
related to
share-based
compensation
Income
directly
recognized
in equity (22.2)
Profit for
the period
Total income
/ (expenses)
for the
period (22.2)
Dividends to
shareholders
Own shares
purchased
for granted
options
Share-based
compensation
Options
exercised
Expansion
ownership
Balance at
December 31,
2007 1.0 36.4 (29.8)
Balance at
December 31,
2007 1.0 36.4 (29.8)
Exchange
rate
differences (10.4)
Taxes
related to
share-based
compensation
Income
directly
recognized
in equity (10.4)
Profit for
the period
Total income
/ (expenses)
for the
period (10.4)
Dividends to
shareholders
Stock split 0.2 (0.2)
Own shares
purchased
for granted
options
Share-based
compensation
Options
exercised
Expansion
ownership
Balance at
December 31,
2008 1.2 36.2 (40.2)
- Table Continued -
Total
Amounts in EUR millions Retained shareholders' Minority Total
earnings equity interest equity
Balance at December 31, 2006 159.1 188.9 11.8 200.7
Exchange rate differences (22.2) 0.7 (21.5)
Taxes related to share-based
compensation (0.1) (0.1) (0.1)
Income directly recognized in
equity (0.1) (22.3) 0.7 (21.6)
Profit for the period 54.9 54.9 2.6 57.5
Total income / (expenses) for
the period 54.8 32.6 3.3 35.9
Dividends to shareholders (20.4) (20.4) (2.0) (22.4)
Own shares purchased for
granted options (19.8) (19.8) (19.8)
Share-based compensation 4.2 4.2 4.2
Options exercised 2.2 2.2 2.2
Expansion ownership (1.6) (1.6)
Balance at December 31, 2007 180.1 187.7 11.5 199.2
Balance at December 31, 2007 180.1 187.7 11.5 199.2
Exchange rate differences (10.4) (2.8) (13.2)
Taxes related to share-based
compensation (0.7) (0.7) (0.7)
Income directly recognized in
equity (0.7) (11.1) (2.8) (13.9)
Profit for the period 57.3 57.3 5.7 63.0
Total income / (expenses) for
the period 56.6 46.2 2.9 49.1
Dividends to shareholders (24.8) (24.8) (1.2) (26.0)
Stock split - -
Own shares purchased for
granted options (9.1) (9.1) (9.1)
Share-based compensation 6.0 6.0 6.0
Options exercised 1.6 1.6 1.6
Expansion ownership (0.9) (0.9)
Balance at December 31, 2008 210.4 207.6 12.3 219.9
ARCADIS NV
Condensed Consolidated Statement of Cash Flows
Amounts in EUR millions Full year
2008 2007
Net income 57.3 54.9
Depreciation and amortization 35.5 32.6
Gross cash flow 92.8 87.5
Net working capital (15.9) (0.8)
Other changes 3.6 (7.8)
Net cash provided/(used) by operating activities 80.5 78.9
Investments/divestments (net) in:
(In)tangible fixed assets (26.6) (19.1)
Acquisitions/divestments (73.2) (87.7)
Financial assets (0.5) (8.7)
Net cash used in investing activities (100.3) (115.5)
Net cash provided by financing activities 60.4 34.2
Change in cash and equivalents less bank overdrafts 40.6 (2.4)
Exchange rate differences (0.6) (4.3)
Cash and cash equivalents less bank overdrafts at
January 1 71.7 78.4
Cash and cash equivalents less bank overdrafts at
December 31 111.7 71.7
Attachment to Press Release Annual Results 2008 of ARCADIS NV
Geographical information
Amounts in EUR millions or %
Gross revenue
2008 2007
Netherlands 404 374
Other European
countries 378 342
United States 791 656
Rest of world 167 138
Total 1,740 1,510
Geographic mix (gross revenue)
2008 2007
Netherlands 23% 25%
Other European
countries 22% 23%
United States 45% 43%
Rest of world 10% 9%
Total 100% 100%
EBITA, recurring
2008 2007
Netherlands 8.9% 10.3%
Other European
countries 9.5% 8.2%
United States 11.3% 10.9%
Rest of world 25.0% 19.6%
Total 11.3% 10.5%
Margin, recurring
2008 2007
Netherlands 24.5 26.2
Other European
countries 28.3 22.6
United States 56.0 44.6
Rest of world 23.0 12.5
Total 131.8 105.9
Information about business lines
Gross revenue
2008 2007
Infrastructure 646 622
Environment 643 537
Buildings 451 351
Total 1,740 1,510
Activity mix (gross revenue)
2008 2007
Infrastructure 37% 41%
Environment 37% 36%
Buildings 26% 23%
Total 100% 100%
Margin, recurring
2008 2007
Infrastructure 11.4% 8.8%
Environment 13.7% 13.5%
Buildings 8.7% 9.9%
Total 11.3% 10.5%
Visit us on the internet at: http://www.arcadis-global.com
SOURCE ARCADIS NV
Source: newswire