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Ballast Nedam News



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 Monday December 3 2001
Ballast Nedam buys stake in Bontrup
Ballast Nedam has bought a 30% stake in Dutch holding company Bontrup. Bontrup owns a sandstone quarry in Bremanger in Norway and has a 65% stake in Granietimport Benelux. The sandstone quarry contains an almost inexhaustible quantity of sandstone that is suitable for the top layer in road construction and as ballast material for the railways.

Thursday November 22 2001
First contract for Ballast Ham Dredging
Ballast Ham Dredging bv has been awarded its first contract. In Mesaieed Port, Qatar, a transshipment yard of quarry rock is to be constructed for Qatar Petroleum. The total value of the contract is around EUR 30 mln. Ballast Ham Dredging will carry out the project in joint venture with Italian contractor Grandi Lavori Fincosit.

Wednesday September 19 2001
Dutch Enterprise Chamber refuses to lift HBG, Ballast Nedam link-up suspension
The Enterprise Chamber of the Amsterdam Court has turned down the request by Hollandsche Beton Groep and Ballast Nedam to annul the temporary suspension of the planned merger of HBG's dredging unit HAM with Ballast Nedam, the companies said in separate press releases. The Dutch Enterprise Chamber said that more research needs to be done because the facts are insufficient to reach a "sound judgement".

Thursday September 13 2001
Ballst Nedam worried about HBG
Ballast Nedam said on Thursday it was anxious to proceed with the planned merger of its dredging arm with HBG's dredging unit HAM. Through its lawyer, Ballast Nedam said that it hoped HBG 'can fulfill its obligation to merge with our dredging division,' adding that a delay in the merger would disadvantage Ballast Nedam's shareholders.

Tuesday July 17 2001
Ballast Nedam receives final payment from Saudi Arabia
Last week Ballast Nedam received the final payment for a large order from Saudi Arabia. The order relates to the airfield contract for which payments have been delayed since 1997. At the end of 2000 the delay amounted to 108 million Euros. With this recent payment the complete receivable has been paid.

Thursday July 12 2001
Half-Year results 2001 BallastNedam: Strong profit growth
The results of the improvement process, which started in 2000, are visible. Ballast Nedam is on the way to further profit growth. The profit per share was Euro 1.30 (half-year 2000: Euro 1.04). Progress made in the first half-year: - strong profit growth - in the organization significant changes were implemented - the improvement process pays off in several areas - through an intensive process focus in the United Kingdom is being shifted to more profitable segments in the market.

Wednesday June 27 2001
Ballast Nedam Dredging merges with HAM
Yesterday 26 June 2001 Ballast Nedam and HBG signed the contract for the merger of their dredging companies. In the new company Ballast HAM Baggeren b.v. (Ballast HAM Dredging), Ballast Nedam holds 1/3 of the shares. With this merger Ballast Nedam realizes its objectives to expand the size of its dredging activities and to stay involved in the well performing dredging market.

Monday June 25 2001
Ballast Nedam to acquire Zomers Bouwbedrijf
Ballast Nedam said it agreed to acquire Zomers Bouwbedrijf BV, with the takeover expected to add to earnings this year. Zomers is predominantly active in the Dutch province Drenthe in the housing and utilities construction market. The group has around 70 employees and NLG 30 mln in annual sales. The company will remain under the same management with no consequences for employment.

Friday June 22 2001
Ballast Nedam constructs light rail in dublin
Ballast Nedam takes part in an international combination that will construct a light rail project in Dublin. On Wednesday 20 June the contract is accepted by the Irish client Coras Iompar Eireann (CIE) of Dublin The combination consists of Ballast Nedam International, Ansaldo Transporti of Italy and MVM Rail Pty of Australia.

Wednesday June 20 2001
Ballast Nedam still sees dredging ops with HBG's HAM as best solution
Ballast Nedam still sees Ballast HAM Baggeren, the company to be formed through the merger of Ballast Nedam's dredging operations with HAM, the dredging activities of Hollandsche Beton Groep, as "the best solution" for both parent companies, according to Ballast Nedam spokswoman Nel de Geus. In a reaction to the announcement Heijmans is considering a bid for HBG on the basis that Royal Boskalis Westminster will declare its previously announced offer for HBG's dredging activities unconditional, the spokeswoman noted she expects the merger to be completed before the end of this month.

Tuesday June 19 2001
Ballast Nedam to acquire Dutch concrete specialist Spankern
Ballast Nedam said it agreed to acquire Spankern Materieel BV, a Dutch company specialized in light, pre-stressed concrete. The group will be merged with Ballast Nedam's Spanstaal, which specializes in heavy stressed concrete. The combined unit will have annual sales of around NLG 40 mln, Ballast Nedam said. Financial details of the transaction were not released.

Thursday May 31 2001
HBG and Ballast Nedam merge dredging activities
Ballast Nedam and HBG will merge their dredging activities into a new joint venture that will be made up of Ballast Nedam Baggeren bv (BNB) and Hollandsche Aanneming Maatschappij bv (HAM). Ballast Nedam and HBG have signed a memorandum of understanding, as a result of intensive negotiations conducted in recent months.

Thursday March 8 2001
Ballast Nedam sees 'strong' 2001 profit growth; FY net rises to EUR 22.4 mln
Ballast Nedam said it expects "strong" profit growth in 2001, as the company reported a rise in full-year 2000 net profit to EUR 22.4 mln from 9.4 mln a year earlier. Sales rose 5% to EUR 2.1 bn, and Ballast Nedam noted the "substantial" recovery in Southeast Asia, where sales rose 40%. The order book increased by 58% during the year to EUR 2.7 bn, and Ballast Nedam noted the quality of the order book also improved, "which gives reason for positive prospects".

Thursday December 14 2000
Ballast Nedam receives payment from Saudi Arabia
Ballast Nedam has received a quarter of the outstanding payments from Saudi Arabia. There has been a payment delay for a substantial period of time in relation to a large airfield project. The government of Saudi Arabia has promised that the remaining part of the receivable will be paid in the beginning of 2001. Ballast Nedam appreciates the assistance of the Dutch government in the efforts to reduce the payments delay.

Wednesday October 18 2000
Ballast Nedam to acquire Netherlands' Lingen Beton
Ballast Nedam said it reached agreement to acquire Lingen Beton BV of the Netherlands. Lingen Beton, which employs 60 people and has sales of over NLG 20 mln, is active in designing, producing and installing prefab concrete construction panels for housing, commercial and industrial building, hydraulic engineering and road construction, Ballast Nedam said. No financial details were disclosed.

Monday July 17 2000
Ballast Nedam wins new orders
Ballast Nedam said it won new orders worth NLG 1 bn, with most of these orders relating to the construction of the high-speed train track in the Netherlands. The total order portfolio totals NLG 6 bn compared to NLG 3.7 bn at the end of December, it said.

Friday July 14 2000
Ballast Nedam expects Saudi payment this year
Ballast Nedam expects the government of Saudi Arabia to pay some NLG 261 mln to the company this year for an outstanding debt on a construction contract, chief financial officer Geert Wirken said on the sidelines of a press conference. The CFO based this expectation, however, on promises similar to past promises which remained unfulfilled, noting, "I cannot provide an absolute guarantee."

Ballast Nedam cuts profit forecast
Ballast Nedam said it lowered its pre-tax profit forecast to NLG 70 mln as a result of a month-long layoff of a dredger in Indonesia and high interest costs from delayed payments in Saudi Arabia. Earlier the company said it saw full-year pre-tax profit at NLG 100 mln. Ballast Nedam posted a lower first-half net profit of NLG 23 mln compared to 24 mln a year ago.

Tuesday July 11 2000
Ballast Nedam fined in Indonesia
Ballast Nedam said it was fined USD 6 mln and its dredger will be confiscated by a local Indonesian judge who ruled on an ongoing dispute about a sand-extraction permit. The dredger's captain, who was not present at the ruling, was sentenced to 3 years in prison. The company said that confiscation of the ship is not possible as it is no longer in Indonesian waters.

Monday March 13 2000
Ballast Nedam '99 profit plunges
Ballast Nedam reported on Monday net profit for 1999 fell to EUR 9.4 mln, compared with net profit of EUR 47.7 mln the company booked in the comparible period of 1998. Turnover decreased 3% from EUR 2,067.5 mln to EUR 1,997.7 mln. Operating income fell 70% from EUR 59.7 mln to EUR 18.2 mln. Earnings per share for 1999 fell EUR 3.83 to EUR 0.94, compared with earnings per share of EUR 4.77 for 1998.

Ballast Nedam eyes partner for dredging ops
Ballast Nedam said it is considering seeking a joint venture partner for its dredging operations because of the need for consolidation in the industry. However, the company would like to continue to benefit from the high margins that are typical for the sector, chairman Rene Kottman said following a news conference on the company's annual results.

Monday January 31 2000
Ballast Nedam orders dredger from IHC Caland
Ballast Nedam announced on Monday that its UK subsidiary Anglo Dutch Dredging Company has placed an order for a large trailing suction hopper dredger with IHC Holland for an amount of approximately NLG 200 mln. The new dredger can win sand up to depths of 110 metres. This mega suction hopper dredger with a capacity of over 38,000 tonnes will be the second largest suction hopper dredger in the world.

Monday December 13 1999
Ballast Nedam downgrades forecast again
Ballast Nedam announced on Monday that it would take a provision of NLG 50 mln in regard to a project in Berlin due to due to disappointing developments of the negotiations with the client on the subject of payments for extra work done. As a consequence the 1999 profit will show a larger decrease than was foreseen at the presentation of the half-year figures in September, Ballast Nedam said.

Friday September 10 1999
Ballast Nedam H1 net profit down 35%
Ballast Nedam reported on Friday net profit for the first-half of 1999 fell 35% to NLG 24.0 mln, compared with net profit of NLG 37.0 mln the company booked in the comparible period of 1998. Turnover decreased 10% from NLG 1,959 mln to NLG 1,767 mln. Turnover at the group's international division was down 40%.

Monday August 2 1999
Ballast Nedam reaches finance arrangement with Suriname
Ballast Nedam said on Monday that it has reached an arrangement with the government of Suriname on the payment arrears for bridges over the Cappename river and the Suriname river. According to media reports, the government of Suriname is using revenue from its bauxite and oil sector as security for the payments arrangement. The bridge over the Coppename river was completed three months ahead of schedule. Ballast Nedam said the arrangement would enable it to complete the project.

Wednesday June 2 1999
Ballast Nedam issues profit warning
Ballast Nedam said on Wednesday it expects lower net profit for full-year 1999 than the NLG 105.2 mln the company booked for 1998. Ballast Nedam said it has difficulty receiving new orders outside of Europe. In the Netherlands the company has received new orders in the past months with a value of over NLG 900 mln. In the UK its subsidiary Ballast Wiltshier has received new orders with a value of NLG 400 mln, while new orders are pending as well.

Friday March 5 1999
Ballast Nedam net profit up 5%
Ballast Nedam reported on Friday net profit for 1998 increased 5% to NLG 105.2 mln, compared with net profit of NLG 100.3 mln the company booked in the comparible period of 1997. Turnover increased 6% from NLG 4,310.0 mln to NLG 4,556.0 mln. Operating income increased 16% from NLG 113.4 mln to NLG 131.5 mln.

Tuesday July 28 1998
Ballast Nedam unit takes over Sterna
Ballast Nedam Kabels en Leidingen, a subsidiary of Ballast Nedam Grond en Wegen, has acquired building contractor Sterna through an assets transaction. Sterna is specialised in laying out and maintaining cables. Sterna, which booked 1997 turnover of some NLG 5 mln and employs 41 workers, will continue to operate as an independent unit.

Thursday July 16 1998
Ballast Nedam H1 net profit up 6%
Ballast Nedam reports net profit for the first half of 1998 increased with 6% to NLG 37 mln, compared with NLG 35 mln the company booked in the comparible 1997 period. Earnings per share increased with 6.4% from NLG 3.46 to NLG 3.68. Operating result rose by 23% to NLG 43 mln from NLG 35 mln. Ballast Nedam's order portfolio fell from NLG 3.3 bn to NLG 3 bn.

Friday June 19 1998
Ballast Nedam aiming to takeover Hoco
Ballast Nedam is aiming to takeover Hoco of Weert. Hoco is a supplier of precast concrete elements for housing and infrastructure. The company books annual sales of some NLG 35 mln. Hoco would continue its operatings under its own identity within the Ballast Nedam group.

Friday March 6 1998
Ballast Nedam reports net profit up 10%
Ballast Nedam reports net profit for 1997 increased with 10% from NLG 91.5 mln to NLG 100.3 mln. The company booked turnover of NLG 4.3 bn, compared with NLG 3.8 bn for 1996. Operating result rose 24% from NLG 91.7 mln to NLG 113.4 mln. Earnings per share grew to NLG 10.03, compared with NLG 9.15 for 1996. The company expects to make one or more acquisitions this year. It is currently in talks with several candidates.

Wednesday January 21 1998
Ballast Nedam consortium wins order of NLG 33 mln
The combination Ballast Nedam/Hollandia will probably win an order of NLG 33 mln to build a new bridge over the river IJssel near Kampen. Construction is planned to commence in April and to be finished at the end of next year.

Hebels Financial Website believes the information herein was obtained from reliable sources but does not guarantee its accuracy. Neither the information nor any opinion expressed constitutes a solicitation of the purchase or sale of securities, derivatives or commodities. © 2002 Hebels Financial Website