Implenia achieves a leap in profits in 2022
The net profit of Switzerland's largest construction company increased from CHF 64 million to CHF 106 million. For the first time since 2019, a dividend is to be distributed to shareholders.
Implenia generated EBIT of CHF 138.9 million in the 2022 financial year (previous year: CHF 114.8 million) and increased its EBIT margin from 3.1% to 3.9%. This was announced by the company in a communiqué. By contrast, Group sales fell from CHF 3.8 billion to 3.6 billion, and the order backlog increased to CHF 7.2 billion (previous year: 6.8 billion). Net profit jumped from CHF 64 million to CHF 106 million. The equity ratio was 17.5% at the end of 2022, compared to 11.6% in 2021.
Particularly strong growth in Real Estate
Implenia also reports that all divisions improved their operating performance. The Real Estate division's EBIT climbed particularly strongly. It almost doubled from CHF 42.1 million in 2021 to CHF 81.1 million. This was due to above-average income in the first half of the year from the sale of project developments, Implenia said.
"The significantly improved annual result despite rising interest rates and inflation proves that Implenia is on the right track," says CEO André Wyss, commenting on the figures. Shareholders are also to share in this success: The Board of Directors will propose to the Annual General Meeting on 28 March 2023 that a dividend of CHF 0.40 per share be paid. This will be the first dividend payment since 2019. "The Board of Directors assumes that Implenia will be able to continue paying dividends in the future," Implenia writes in the statement.
EBIT expected to fall again in 2023
For 2023, Implenia expects EBIT to be slightly lower at around CHF 120 million. The Real Estate division's EBIT contribution is expected to be significantly lower than in the previous year, especially in the first half of the year, the construction group said. The equity ratio is expected to rise to over 20%, and the company is aiming for an equity ratio of 25% in the medium term
Changes in the Board of Directors
Implenia also announces that there will be a change on the Board of Directors: Laurent Vulliet, who has been a member of the Board and the Nomination and Compensation Committee since 2016, will not stand for re-election. Raymond Cron is to be elected as a new member of the Board of Directors in his place. Cron was once a member of the executive board of Basel-based Batigroup, which merged with Geneva-based Zschokke to form Implenia in 2006. He was later COO of Orascom Development Holding and a member of the executive board of Allreal from 2013 to 2015. (ah)
