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TPH Bausysteme, sealing, joints, Injection, technology, Concrete, restoration, protection, tunnelling, mining, Abdichtung, Verfuellung, Verfestigen, Sanierung, Tunnelbau, Bergbau

Implenia accelerates Strategy Implementation and sets new Targets after rigorous Risk assessments of Portfolio Featured

  • Implenia finalized strategy implementation reviews for all Divisions, including a re-evaluation of opportuni­ties and risks for all projects. This reinforced the need to sharpen and accelerate strategy execution
 
  • Implenia intends to concentrate its activities on core, solid-margin businesses. This will significantly imp­rove the Group’s risk profile, focusing on integrated construction and real estate services in Switzerland and Germany. Only Tunnelling and related infrastructure projects planned to be conducted also in other markets  
  • As a consequence, Implenia needs to take unavoidable and painful measures such as Portfolio adjust­ments, restructuring including layoffs, as well as write-downs and rightsizing of businesses and functions    
  • Restructuring is planned to affect up to 2,000 FTE by 2023, thereof ~750 layoffs, of which ~250 in Switzerland. The plan is to transfer ~1,250 FTE to new ownership. Implenia expects yearly savings of CHF >50 million and a ~20% reduction in its asset base by 2023, with restructuring costs amounting to CHF ~60 million 
  • In the context of divisional strategy implementation reviews, rigorous risk assessments including re-evalua­tion of claims/litigations for all projects were conducted. This revealed the need for extraordinary write-downs of CHF ~200 million in 2020, for projects that all started before 2019, particularly in sub-unit Civil, and especially in Civil Sweden 
  • Continued negative Covid-19 impact is anticipated at CHF ~50 million for FY 2020 from today’s perspective
  • Reported EBITDA for 2020 is expected to be CHF ~ -70 million. In line with its asset-light strategy, Implenia will report future performance in EBIT. For 2021, EBIT of CHF >100 million (>3%) is expected, an equivalent of CHF >200 million EBITDA (~5.5%). Implenia is solidly financed to achieve these targets
  • Board of Directors and Management are fully convinced Implenia is well positioned to become a strong and profitable company with substantially improved risk profile. Implenia is firmly on its way to realizing its vision of becoming a leading multinational integrated constructionand real estate services provider
  • Source: Implenia

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