Ballast Nedam booked huge losses – AD.nl

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1-5-15 – 01:55 Source: Reuters © ANP.

construction company Ballast Nedam last year a net loss of 103 million euros. That made the construction company announced last night.

Ballast came into financial difficulties by huge losses suffered on large infrastructure projects, such as the work on the A15 and the A2. The company, on Wednesday in the fire was helped by banks and partners, in recent months warned of a loss of more than 45 million.

The company himself spoke of a difficult year, in which a ,, dramatic ” operating loss of 65 million euros was recognized. The sales slumped last year by 100 million euros to 1.1 billion euros. The order book shrank by half a billion to 1 billion.

Cost overruns
The pain was mainly suffered by the Infrastructure Division. Who suffered an operating loss of 59 million euros, with a turnover declined by 16

percent. This play especially the cost overruns on the project A15 Maasvlakte-Vaanplein affected the company. Which have already risen to 318 million euros, of which 40 percent is accounted for Ballast.

The construction company sells a large part of its interest in the A15 project partners Strukton and Strabag and will focus only less complex projects. The infrastructuurtak should therefore shrink. Of the practical implications for the staff made the company yesterday unknown.

The market conditions remain difficult for the time being, the company predicted. Only in terms of housing seems to be some improvement is visible, but the effects will certainly not noticeable in 2015.
Revenues and earnings in the first quarter of this year fell short of expectations, Ballast Nedam reported without provide concrete figures. The infrastructure market remained undiminished while ,, bad with high competition and low prices. ”