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Finance
Result 2008
Revenue in 2008 was slightly higher than in 2007 but profit was lower. The low volume of projects in the Netherlands and also in Germany placed pressure on margins. As a result, capacity utilisation was low, especially for the large rail renewal equipment. Nevertheless, rail performed better than the market as a whole, as reflected in its market share.
Consolidated balance sheet
(x EUR 1,000)
| NON-CURRENT ASSETS |
|
|
| Intangible assets |
15,064 |
9,382 |
| Property, plant and equipment |
86,292 |
80,670 |
| Financial assets |
22,441 |
19,654 |
| SUM OF NON-CURRENT ASSETS |
123,797 |
109,706 |
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| CURRENT ASSETS |
|
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| Inventories |
5,319 |
4,781 |
| Construction work in progress |
27,349 |
28,346 |
| Trades and other receivables |
147,872 |
124,571 |
| Cash and cash equivalents |
2,325 |
3,348 |
| SUM OF CURRENT ASSETS |
182,865 |
161,046 |
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| CURRENT LIABILITIES |
|
|
| Trade and other payables |
106,978 |
99,332 |
| Taxation / pensions |
17,827 |
24,271 |
| Provisions |
5,040 |
5,063 |
| Construction work in progress |
22,877 |
19,676 |
| SUM OF CURRENT LIABILTIES |
152,722 |
148,342 |
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| Net work in progress |
4,472 |
8,670 |
| WORKING CAPITAL |
30,143 |
12,704 |
| CAPITAL EMPLOYED |
153,940 |
122,410 |
Other data
| OPERATING INCOME |
531,854 |
496,654 |
| Investments |
19,731 |
21,860 |
| Training costs (out of pocket) |
5,152 |
5,288 |
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