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Imtech : Imtech: publishes preliminary annual figures for 2012

        Imtech : Imtech: publishes preliminary annual figures for 2012

NOT FOR RELEASE,  DISTRIBUTION OR PUBLICATION  INTO OR IN  THE UNITED  STATES, 
AUSTRALIA, CANADA, OR JAPAN

·Publication of preliminary  annual figures important  next step in  recovery 
plan
·Net loss of 226 million Euro in 2012
·Adjusted annual figures and opening balance sheet for 2011
·Annual report,  definite  annual figures  and  the audited  annual  accounts 
expected early June 2013
·Revenues in 2012 increased by 8% to 5.5 billion Euro

Gouda - Royal Imtech N.V. today  publishes its preliminary annual figures  for 
2012. The annual report, the definite  annual figures, and the audited  annual 
accounts by  the  accountant are  expected  in  early June  2013.  The  annual 
accounts will be discussed  at the Annual General  Meeting of shareholders  on 
June 28, 2013 and presented for adoption to a yet to be planned  Extraordinary 
General Meeting of shareholders at the end of July 2013.

Gerard van  de Aast,  CEO; "With  the publication  of the  preliminary  annual 
figures for 2012, Imtech  makes an important next  step in its recovery  plan. 
Publication of the annual accounts and the investigation report in early  June 
is the next important milestone. We continue to execute our plans announced on
February  27   with  focus   on   organic  growth,   operational   excellence, 
reinforcement of  the  business controls  and  the establishment  of  a  solid 
financial structure."

Preliminary consolidated annual figures 2012
For the preliminary consolidated annual figures 2012 reference is made to  the 
appendix of this  press release. The  preliminary results in  2012 show a  net 
loss of  226 million  Euro.  In these  preliminary  results among  others  the 
effects have  been  included  of  a  later  closing  date  and  the  connected 
progressive insights. Also an appropriate realistic approach has been used  in 
the application of our accounting  principles. The preliminary annual  figures 
for 2012 will be discussed with our lenders. These discussions are focused  on 
obtaining a definite waiver as a logical continuation on the earlier concluded
continuation agreement. After the finalization of the waiver process, expected
early June  2013,  the annual  accounts  audited  by the  accountant  will  be 
available.

Adjustment figures 2011
For the adjusted figures for 2011 and the adjusted opening balance sheet  2011 
reference is made to the appendix  of this press release. The annual  accounts 
2011 published the previous year therefore no longer present the required true
and fair view. This has been announced  earlier in our press release of  April 
23, 2013. The net result of 2011  has been adjusted by 54,6 million Euro.  The 
correction to the shareholders equity on the opening balance sheet amounts  to 
54,7 million Euro. In regards to the  annual accounts 2011, the in art.  2:362 
section 6 Dutch Civil  Code (BW) intended  announcements and auditor's  report 
will be deposited.

Poland and Germany
The investigations  in  Poland  and  Germany  are  in  the  process  of  being 
finalized. As announced earlier, the company will publish the final report  in 
early June 2013. In this report  the findings of these investigations will  be 
presented. The write-offs in Poland and  Germany amount, as reported on  April 
23 2013, to 370 million Euro (pre-tax).

Rights issue
On February  27,  2013  Imtech  announced  the  intention  to  strengthen  its 
shareholders' equity with a rights issue of 500 million Euro. The proceeds  of 
the issue  will, after  the deduction  of costs,  be fully  utilized for  debt 
reduction, resulting in a reinforcement of Imtech's capital structure. A  more 
extensive explanation of  the rights issue  is included in  the agenda of  the 
Annual General  Meeting  of shareholders,  published  on the  company  website 
(www.imtech.com). The decision necessary to  execute the rights issue will  be 
submitted to the Annual General Meeting of shareholders on June 28, 2013.  The 
announced rights issue is expected to be completed this summer.

Appendix: Financial Summaries

More information

Media:                                 Analysts & investors:
Dorien Wietsma                         Jeroen Leenaers
Director Corporate Communication & CSR Director Investor Relations
T: +31 182 54 35 53                   T: +31 182 543 504
E: dorien.wietsma@imtech.com           E: jeroen.leenaers@imtech.com
www.imtech.com                         www.imtech.com

                                       

Imtech profile
Royal Imtech N.V. is a European  technical services provider in the fields  of 
electrical solutions,  ICT  (information  and  communication  technology)  and 
mechanical solutions. With 29,000 employees, Imtech achieves annual revenue of
approximately 5.5  billion  euro. Imtech  holds  attractive positions  in  the 
buildings and  industry  markets  in  the  Netherlands,  Belgium,  Luxembourg, 
Germany, Austria, Eastern  Europe, Sweden, Norway,  Finland, the UK,  Ireland, 
Turkey and Spain, the European  markets of ICT and Traffic  as well as in  the 
global marine market. In total  Imtech serves 24,000 customers. Imtech  offers 
integrated and multidisciplinary total solutions that lead to better  business 
processes and more efficiency for customers  and the customers they, in  their 
turn,  serve.  Imtech  also  offers   solutions  that  contribute  towards   a 
sustainable society - for  example, in the areas  of energy, the  environment, 
water and traffic. Imtech  shares are listed on  the NYSE Euronext  Amsterdam, 
where Imtech is included in the AEX Index. Imtech shares are also included  in 
the Dow Jones STOXX 600 index.
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PDF: Press Release incl. appendix

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Source: Imtech via Thomson Reuters ONE
HUG#1703176
 
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