Implenia makes more sales but less profit

Implenia Ltd. increased its sales by 7.2 percent to CHF 1.5 billion in the first half of the year. However, operating profit fell to CHF 13.8 million, leaving a consolidated result of CHF 8.0 million after deducting all special costs. According to the company, the reason for the drop in profit is special effects from the acquisition of Bilfinger Construction.

(Photo: Implenia AG)

Adjusted EBIT of the business units amounted to CHF21.4 million, CHF500,000 more than in the prior-year period. Including the special acquisition effects and non-recurring integration costs of Bilfinger Construction, EBIT of the business units was CHF5.6 million lower than in the first half of 2014 (CHF21 million) at a value of CHF15.4 million.

The adjusted operating result came to CHF 24.3 million (first half of 2014: CHF 26.4 million). According to Implenia, this figure was also impacted by the special effects of the acquisition.

After deducting all effects from the acquisition (total CHF 10.5 million), an operating result of CHF 13.8 million remains. Despite an improved financial result, the adjusted net result of CHF 15.6 million is 1.4 million lower than in the same period of the previous year. After deduction of all special costs, a consolidated result of CHF 8.0 million remains.

Negative currency effects - particularly from the euro and the Norwegian krone - had a negative impact on sales (-35.8 million CHF) and earnings (-0.7 million CHF).

Changes at the management level

Implenia has also announced that Stephan Wüstemann, Head of the Buildings Business Unit, will no longer be able to assume his responsibilities for private reasons. CEO Anton Affentranger will take over the management of this business unit on an interim basis. Information on the definitive replacement will be provided in due course, it says.

René Zahnd to join Swiss Prime Site in mid-September

Adrian Wyss, previously Head of Implenia's Modernisation Unit, is taking over as the new Head of the Modernisation & Development Business Unit from 1 September 2015. The architect FH with a diploma in business management and graduate of the internal management program "Winning the Future" has been with Implenia for nine years in various management functions and has been driving the development of Implenia's Modernization Unit for the past two and a half years. Prior to that, he was responsible for the realization of construction sites A and C of Europaallee Zurich, among other things as overall manager. Wyss succeeds René Zahnd, who is leaving Implenia in mid-September 2015 to become the new CEO of SPS Swiss Prime Site, as previously announced. (ah)

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