Strong year for Imtech

M&E group Imtech has announced that its full-year results were in line with expectations, and that it is set to grow further this year.

Full-year earnings before the deduction of interest, tax and amortisation (EBITA) were €156.5 m compared with €113.3 m in 2006 on sales of €3.3 bn up from €2.9 bn the previous year. The operational EBITA margin rose to 5.1% from 4.5% in 2006.

Its market position in the UK was strengthened during the financial year by the purchase of Cambridgeshire-based building services firm Aqua Group, which has an annual revenue of €51 m.

Other European acquisitions included Suir Engineering, one of Ireland’s largest electrical contractors and Spanish industrial maintenance company Metubsa. The total price of Imtech’s 2007 acquisitions was €163.5 m.

In the UK, Ireland and Spain, robust growth was reported. EBITA rose 27% to €28.5 m and sales increased 25% to €417 m. Imtech attributed this to “a sharp rise in revenue, EBITA and the order portfolio through organic growth and acquisitions.” The EBITA margin rose from 6.7% to 6.8% and the firm’s order portfolio increased by 30.5% to €3.8 bn.

Alongside the Aqua Group, Imtech businesses in the UK also include Imtech Meica, Goodmarriott & Hursthouse and Imtech Process.

The Dutch group, which has operations across Europe, hopes that additional growth will be achieved due to the 2012 Olympic Games.

Its objectives are to achieve revenue of €5 bn by 2012 and to maintain the EBITA margin objective of 6%.