Heijmans

Heijmans reports revenue growth of 7.3 percent for 2025 and records an order book of €4.1 billion. The integrated business model in property development, residential and commercial construction, and infrastructure is intended to cover the entire value chain and support long-term growth. No information was provided on profit development or concrete future forecasts. » More on finanzen.net

Heijmans increased revenue in 2025 by 7.3% to €2.77bn and adjusted EBITDA by 26.8% to €252m; net profit grew 44.4% to €130m. The adjusted EBITDA margin improved by 140 basis points to 9.1% and order intake rose sharply to €3.68bn. All business units contributed to the growth, especially Connecting, with adjusted EBITDA up 33%. For 2026 Heijmans forecasts around €3.1bn in revenue and an adjusted EBITDA margin of 9.5%; the dividend is to increase to €2.37 per share. » More on de.investing.com

Heijmans is acquiring Dutch construction group Hegeman in an all-cash transaction for €37.5 million and will integrate Hegeman as a standalone unit within its Utility division. Hegeman is expected to generate around €140 million in revenue and an EBITDA of €7.8 million in 2025, implying an acquisition multiple of about 4.8x (Dutch GAAP) or roughly 4.0x under IFRS. The acquisition will temporarily depress the adjusted margin, as Hegeman’s EBITDA margin of about 6.0% is below Heijmans’ forecasted margin of 8.3%; Heijmans aims to raise the margin by 2027/2028. Hegeman’s order backlog is roughly 1.5 times annual revenue, making it comparable to Heijmans’ Utility division. » More on de.investing.com