ARCADIS TRADING UPDATE Q1 2017
Gross revenues €818 million, -3% vs. Q1 2016. Net revenues €628 million, organically -1%
EBITDA €52 million (Q1 2016: €56 million); operating EBITA €47 million, higher than in previous three quarters (Q1 2016: €51 million)
Net working capital 19.9% (Q1 2016: 18.9%); net debt €556 million (Q1 2016: €541 million); impacted by a stronger US dollar and working capital in the Middle East where important milestones are expected to be reached in Q2 and Q3 leading to cash collections in 2017
Backlog €2.3 billion, representing 11 months of net revenues. Strong order intake in Q1 led to a 5% year-to-date increase (Q1 2016: 3%)
New CEO Peter Oosterveer nominated; appointment subject to approval by shareholders at the AGM to be held on 26 April 2017
Amsterdam, 20 April 2017 - Arcadis (EURONEXT: ARCAD), the leading global Design & Consultancy firm for natural and built assets, reported a 1% organic decrease in net revenues for Q1 2017. The operating EBITA was €47 million, a decrease of 9% versus Q1 2016.
"The priorities we set in October last year are now resulting in meaningful signs of improvement in large parts of our business," commented Arcadis' interim CEO and CFO Renier Vree: "Arcadis' operating EBITA in Q1 was higher than the previous three quarters, and we have increased our backlog in North America, the UK, Continental Europe, and Australia. We see a healthy pipeline of market opportunities across our businesses. Our operating model has been simplified and we realized the associated structural cost savings. We see a positive business sentiment in most geographies, but we remain cautious about market developments in Brazil, the Middle East, and parts of Asia. We will continue to focus on winning work with our clients, reducing working capital and sustaining our momentum."