Outlook

Partly in view of our increased order book, Heijmans expects to record higher revenue in the full-year 2023. Revenue is rising at Infra and Building & Technology, more than compensating for the decline in revenue at Property development. In our previous outlook for 2023, we stated we expected slightly higher revenue with underlying EBITDA comparable to 2022 (at a level of € 107 million). On the basis of the solid progress we have made in the first half of the  year, we now believe we can achieve this as a minimum, taking into account the one-off costs related to 100 years of Heijmans. The outlook for 2023 together with our well-filled order book also gives us confidence for 2024. 

The long-term outlook for our sector remains good, given the significant investments required to solve the housing shortage, protect against rising sea levels, changing climate conditions and to shape the energy transition. In addition, we are on the eve of a major replacement and renovation drive for the Dutch road network, including bridges and viaducts. Given the challenges facing the Netherlands, it would be good to have another cabinet soon that can count on fruitful cooperation with parliament.

The acquisition of Van Wanrooij announced on 21 June is pending approval from the Dutch Consumer & Market Authority and this is expected in the third quarter of 2023. The extent to which this acquisition contributes to Heijmans' revenue and EBITDA in 2023 will depend on the date the transaction is effectuated.