Implenia: "Financing is secured".
The construction group Implenia points out that it is solidly financed, even if the equity ratio is temporarily falling in the course of restructuring.
Implenia announced a comprehensive restructuring at the end of October: The company intends to divest various business divisions and investments, with around 2,000 full-time positions affected. The company anticipates EBITDA of around -70 million for the 2020 financial year. In particular, extraordinary value adjustments on projects amounting to 200 million, restructuring costs (60 million) and costs resulting from the coronavirus pandemic (50 million) will have a negative impact. The equity ratio will fall to just over 10% in the short term in 2020, it was reported at the time.
Implenia has now announced that it is "solidly financed even with a temporarily lower equity ratio". According to the Group, it has a valid syndicated loan agreement with Swiss banks for 800 million. Following amicable discussions with the banks, the agreement has been confirmed by them, Implenia said. The revolving credit limit contained therein is unused. Together with a "solid cash position", Implenia is well positioned to achieve its targets, it added. (ah)
