ARCADIS CONTINUES SOLID PERFORMANCE IN 2011
* Net income from operations rose 4%; gross revenues above EUR2 billion
* Net revenues grew 5%, aided by an organic increase of 3%
* Growth mainly came from the US environmental market, South America and Asia
* Margin remained at a good level, despite weak government market in Europe
and US
* Dividend proposal EUR0.47 per share, same as last year
* For 2012 a further increase of revenues and profit is expected
AMSTERDAM -- February 27, 2011 -- ARCADIS (NYSE EURONEXT: ARCAD), the
international consultancy, design, engineering and management services company,
in 2011, again delivered solid results. Net income from operations rose 4% to
EUR81.6 million. Per share this is EUR1.23 compared to EUR1.19 in 2010. Revenues
increased 1% to EUR2,017 million, while net revenues (revenues produced by own
staff) rose 5%, also as a result of 3% organic growth. The weaker dollar against
the euro had a negative effect on revenues and profit of 3%. Despite weak
government markets in Europe and the United States, the operational margin came
to 9.7%, close to the target level of 10%. These solid results have been
achieved thanks to growth in the US environmental market, expansion in Asia and
excellent market conditions in South America, partially offset by lower results
in Europe due to reduced government spending.
It is proposed to maintain the (cash) dividend at EUR0.47 per share. This
represents a payout of 40% of net income from operations, in line with the
dividend policy.
Strategically, important progress was made. The facility management business
(AAFM), no longer considered core, was sold in early June. In July, the
remaining interest in the consulting and engineering activities of ARCADIS Logos
in Brazil was acquired, while in November the merger with EC Harris (gross
revenues EUR290 million, 2,600 staff members) was completed, an international
consultancy with high-end consulting and management services for buildings,
industrial facilities and infrastructure.
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ARCADIS CEO Harrie Noy said: "I am glad we were able to continue to increase
revenues and profit. Our good geographical spread was key to this achievement.
Especially in emerging markets such as Brazil, Chile and China and in the US
environmental market we grew strongly. Although government work is declining,
that is more than compensated for by work for private sector clients. These good
results were achieved due to our consistent focus on activities higher in the
value chain, successful acquisitions, strict cost controls and above all, the
entrepreneurship and client focus of our staff. With EC Harris we got a leading
position in project management and related services, which will allow us to