- Setbacks on challenging projects led to a net loss of € 80.6 million in 2018.
- Concrete actions have been taken to restore profitability:
o focus applied and transformation intensified
o management team strengthened
o raising of € 120 million in additional financing, including € 30 million from shareholders.
For Royal IHC (IHC) 2018 proved to be a difficult year. Due to cost overruns in the execution of a number of challenging innovative projects, the loss for 2018 ultimately amounted to € 80.6 million.
IHC has initiated a number of clear actions in order to restore profitability. For example, the organisation has applied focus to – and accelerated – the transformation that has already begun by concluding contracts under better conditions, and strengthening its management and improving processes, among others. At the same time, IHC has been reinforced with € 120 million in additional financing.
IHC’s CEO Dave Vander Heyde said: “We’re convinced that, after a difficult period, we have taken the right steps and necessary measures to safeguard our quality, innovative strength and strong relationships that have made IHC a leading player in its market for the future. “The trust and commitment we have received from our stakeholders underlines the support for our strategy, which is now bearing fruit in a high-quality order book. This lays the foundation on which IHC can achieve a positive result in 2019.” Read more