Implenia achieved good EBIT again in the first half-year and confirms targets for 2024

“We achieved another good result in the first half of 2024 and showed a consistent performance,” says André Wyss, CEO of Implenia. “With our wide range of skills and our many years of experience,
we can deliver large and demanding projects reliably and profitably – which puts us in an outstanding position. Meanwhile, our broad-based portfolio of services is also proving its worth in the
current market situation.”

Implenia achieved EBIT of CHF 50.5 million in the first half of 2024; revenue increased; high order book

Implenia reported EBIT of CHF 50.5 million (HY1.2023: CHF 49.9 million). All Divisions contributed to the result as planned. Buildings, Civil Engineering and Specialties improved their EBIT again
compared to the previous year’s period.

At CHF 1,741 million (HY1.2023¹: CHF 1,720 million), revenue was up on the prior-year level. Adjusted for currency effects, the Group increased revenue by 2.7%. At CHF 7.1 billion
(HY1.2023: CHF 7.3 billion), the order book remains at a high level. Strict application of Value Assurance ensures the profitability of Implenia’s projects.

Division Real Estate achieved EBIT of CHF 6.8 million (HY1.2023: CHF 16.1 million), even though no real estate sales took place. Sales of development projects are influenced by their maturity and
by demand. Implenia always aims to sell at the best possible time. For this reason, EBIT is in line with expectations. Transactions are being prepared for the second half of the year. The book
value of the current Real Estate portfolio is CHF 197.0 million (HY1.2023: CHF 158.8 million). This increase resulted from various investments in our real estate portfolio in attractive, urban
locations in the first half of 2024. The partnership with Ina Invest continued to develop successfully.

Division Buildings improved its EBIT to CHF 28.9 million (HY1.2023: CHF 18.2 million); Wincasa made a significant contribution of CHF 8.1 million to this result. The integration of Wincasa went
according to plan: cost synergies have been realised, especially in the Functions, and a joint services offering is being developed. The Division’s revenue rose to CHF 965 million (HY1.20231: CHF
908 million). The order book decreased as expected to CHF 2,311 million (HY1.2023: CHF 2,814 million) due to current market conditions. Thanks to the high volume and good quality of the order book,
the Division was able to continue acquiring projects very selectively using the Value Assurance approach.

Division Civil Engineering increased its EBIT to CHF 12.2 million (HY1.2023: CHF 11.7 million). Despite the marked seasonality of its business, the Division exceeded expectations and again achieved
a strong positive EBIT in the first half of the year. Revenue decreased to CHF 846 million (HY1.20231: CHF 879 million). The order book stood at a record level of CHF 4,593 million (HY1.2023: CHF
4,302 million). The high quality of the order book is due to the focus on a differentiated, resilient project portfolio and on the strategic priority Profitable Growth, including Value Assurance.

Division Specialties further improved its EBIT to CHF 1.8 million (HY1.2023: CHF 1.6 million). It continues to expand its consulting and engineering activities, which offer clients added value and
Implenia a more attractive margin, e.g. through the new Encira business unit (building physics, acoustics, sustainability & energy), which has won its first major orders. The Division’s revenue
increased to CHF 81 million (HY1.20231: CHF 73 million). The order book rose to CHF 178 million (HY1.2023: CHF 166 million).

Equity ratio raised to 20.5%

Implenia increased its equity in the first half of the year by CHF 25.7 million to CHF 601.5 million (FY.2023: CHF 575.8 million). Total assets remained steady at CHF 2,928 million (excluding
short-term time deposits from the proceeds of the bond issuance in April, FY.2023: CHF 2,906 million). The equity ratio increased further to 20.5% as of 30 June 2024 adjusted for short-term time
deposits from the bond. The reported equity ratio was 19.7% (FY.2023: 19.8%). The first-half result marks another step towards sustainably improving the equity ratio to 25%.

The change in cash and cash equivalents in the first half of the year was influenced by industry seasonality and included the second tranche of the payment for Wincasa as well as land purchases. At
CHF -209 million (HY1.2023: CHF -210 million) free cash flow, excluding the payment for Wincasa, was at the previous year’s level. Based on its profitable operating business, Implenia expects
sustained growth in free cash flow. As of 30 June 2024, all syndicated cash limits were unused and fully available to the company.

All Divisions are excellently positioned with their attractive portfolio of services and wide-ranging skills

The market environment remains demanding and is being actively monitored by Implenia in all relevant markets. The situation in the real estate market, especially housing construction, is
challenging in Germany and Switzerland. Implenia’s strategy has also proved its worth in the current situation and allowed to compensate for the weaker order intake in building construction by
acquiring large infrastructure projects.

Inflation and interest rates have fallen slightly in recent months, which will support future growth in the real estate and construction industry. Implenia also expects an increase in new orders in
building construction in the second half of the year. 

There is still high and rising demand for large-scale real estate projects in attractive urban locations, as well as for complex infrastructure projects. This demand is being stimulated by the
megatrends of population growth and urbanisation, as well as by the energy transition and investments in new or modernised transport and energy infrastructure.

With its integrated portfolio of services along the entire value chain, its skills, experience and sector-oriented specialisations (healthcare, research, transport and energy infrastructure, etc.),
Implenia is excellently positioned in these areas. The portfolio mix of sought-after real estate and infrastructure services enables sustainably profitable growth. By combining organic and
inorganic growth, backed by an asset-light strategy, the Group is also tapping into innovative, high-margin business areas. 

For full financial year 2024 Implenia confirms expected EBIT of CHF ~130 million and reaffirms medium-term financial targets

Implenia expects EBIT of around CHF ~130 million for financial year 2024 based on a strong operating business in a challenging market environment. As a mid-term target, the Group is aiming for an
EBIT margin of >4.5% and an equity ratio of 25%.
 

Contact for media:
Corporate Communications, T +41 58 474 74 77, [email protected] 

Contact for Investors and Analysts:
Investor Relations, T +41 58 474 35 04, [email protected] 

Half-Year Report 2024:
You can access and download the 2024 Annual Report via
this link.

Analysts and Media Conference:
An Analysts and Media Conference (webcast)
will take place today from 11.30 to 12.30 a.m. today, at which there will be an opportunity to ask questions.

Dates for investors:
26 February 2025: Annual results 2024, Analysts and Media Conference
25 March 2025: Annual General Meeting

End of Inside Information

1971867  21-Aug-2024 CET/CEST