Ballast Nedam, (BLSNF.PK), a construction and engineering firm, Friday said in a trading update that revenues and results for the first quarter would be lower than the previous year. The company does not expect an operating profit for the first year, but sees profit for the second half on the back of execution of large projects. The firm also confirmed the previously announced full year forecast.
The company reaffirmed its previously announced forecast for the full year of an operating profit of approximately 15 million euros. The company had reported an operating loss of 31 million euros last year.
The Dutch firm stated that the positive first-quarter results were achieved from major projects and in the alternative fuels and secondary raw materials markets, which was offset by loss produced by the regional companies, specialized companies and the supply companies, reflecting poor market conditions.
The net financing position decreased in the first quarter to 127 million euros, which includes net cash of 47 million euros, compared with a negative net financing position of 153 million euros, the company said in a statement.
The firm recorded that the order book remained stable at 1,732 million euros, compared with 1,761 million euros last year.
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