Increase of EBIT by 38.4 percent and quadrupling of consolidated net profit confirmed by auditors - A strong order-book supports positive prospects for 2008
D i e t l i k o n, 11 March 2008 - The provisional figures of the leading Swiss construction services group Implenia announced on 16 February 2008 for the 2007 financial year have been definitely confirmed by the auditors. With sales at an almost unchanged level of CHF 2.771 billion (previous year: CHF 2.810 billion), Implenia was able to strongly improve the operating and net profit. Operating EBIT rose in comparison to the previous year by 38.4 percent to CHF 65.75 million. The EBIT in accordance with IFRS, i.e. after integration costs, amortisation of intangible assets and extraordinary costs in connection with the hostile attack by Laxey, more than doubled and reached CHF 38.67 million (17.04 million). The consolidated net profit quadrupled to CHF 25.53 million (6.14 million). The increase of the order-book to CHF 2,611 billion, a further 13.4 percent in comparison with the previous year, enables the conclusion that the current year will also be satisfactory, given that the industry is expecting a continuation of the favourable economic climate.Based on the good results and the solid outlook for Implenia, the Board of Directors will be recommending to the General Meeting of 8 April 2008 an increased distribution in the form of a partial reimbursement of CHF 0.50 of the share's par value. In addition, the Board of Directors will be recommending to the General Meeting the election of Urs Häner, CEO of Russian Land, as a member of the Board and re-election of Anton Affentranger, Markus Dennler, Claudio Generali, Patrick Hünerwadel, Toni Wicki and Philippe Zoelly as members of the Board.
The General Meeting will also be required to vote on two proposals submitted by the British hedge fund Laxey. It is requesting annulment of the conditional capital and a reduction in the term of office of Board members as foreseen by the articles of incorporation from 2 years to 1 year. The Board of Directors recommends rejection of both proposals.
Contact:
Aloys Hirzel
Hirzel. Neef. Schmid. Konsulenten
Telephone +41 43 344 42 42
Email aloys.hirzel@konsulenten.ch