Arcadis H1 Profit Climbs, Says Confident Of H2; Names Virginie Duperat-Vergne CFO

(RTTNews) - Dutch design, engineering and consultancy company Arcadis NV (ARCAY.PK) reported Tuesday that its first-half net income climbed 68 percent to 62 million euros from last year's 37 million euros.

Net income from operations or NIFO was 53 million euros, compared to 46 million euros a year ago. NIFO per share was 0.59 euro, up from 0.53 euro a year ago.

Operating EBITA dropped 1 percent from last year to 97 million euros, and operating EBITA margin dropped to 7.6 percent from 7.7 percent a year ago.

Gross revenues was 1.70 billion euros, same as last year. Net revenues grew 1 percent to 1.29 billion euros.

In the second quarter, operating EBITA fell 1 percent to 49 million euros, while operating margin improved to 7.8 percent from 7.7 percent last year.

Net revenues dropped 3 percent to 628 million euros, as a consequence of COVID-19.

Backlog at the end of the first half was 2.0 billion euros, compared to 2.1 billion euros last year.

Looking ahead, the company said, "Although our backlog remains stable, we do see the impact of COVID-19 in some parts of the business, in particular in our work for private sector clients as well as in our architectural business where we have experienced a weaker demand....Overall, we have demonstrated a strong ability to adapt to the COVID-19 reality which gives us confidence for our performance in the second half of the year."

Separately, Arcadis announced that its Supervisory Board has nominated Virginie Duperat-Vergne for the position of Chief Financial Officer and member of the Executive Board. Duperat-Vergne succeeds Sarah Kuijlaars, who left Arcadis effective March 4.

The Board will propose the appointment at an extraordinary General Meeting to be held on September 14.

The company also announced that Peter Oosterveer remains available for re-appointment as CEO when his current term expires in 2021.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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