Heijmans at almost 16-yr highs on H1 beat, outlook hike

Koninklijke Heijmans NV

26/07/2024 09:26

** Shares in Heijmans  HEIJ.AS  rise 9.6%, touching their
highest price in almost 16 years after the Dutch construction
services company released what ING calls a "very strong set of
interim results" 
    ** Heijmans' H1 revenue rises to 1.22 bln euros ($1.32
billion), while underlying EBITDA is up at 91 mln euros
    ** ING says EBITDA beats its forecasts by 35%, also flagging
much bigger-than-expected debt reduction underscoring FCF
generation
    ** Heijmans also ups FY underlying EBITDA margin to around
7.5% from at least 6.5% previously
    ** "We expect the share price to increase on this set of
numbers today," ING says
     

($1 = 0.9217 euros)

 (Reporting by Piotr Lipinski)
 ((piotr.lipinski@tr.com))