Ballast Nedam Increases Forecast 2010

Dec 16, 2010, 02:37 ET from Ballast Nedam NV

NIEUWEGEIN, December 16, 2010 /PRNewswire-FirstCall/ -- The Board of Management is increasing its 2010 forecast to an operating profit of EUR 15 million to EUR 20 million, due to the progress of a number of procedures.

In this forecast, we have taken into account the progress of claims on a limited number of projects, the fine imposed by the English competition authorities in 2009 and a settlement with persons associated with a former director in long year civil proceedings.

In the fourth quarter the single largest infrastructure project that was ever awarded by The Dutch Directorate-General for Public Works and Water Management was signed and entered into the order book.

It concerns the widening of the A15 between the Maasvlakte and the Vaanplein and the construction of a new Botlek bridge. This concerns a DBFM contract (Design, Build, Finance and Maintain) in which the consortium A-Lanes A15 is responsible for the design, construction, financing and maintenance of the project with a value of approximately EUR 1.5 billion. Ballast Nedam participates for 24% in this consortium and is responsible for one third of the design, the construction and the 20 year maintenance. With this project Ballast Nedam confirms its leading position in the market for public-private partnerships in The Netherlands.

The forecast expressed in March of this year was an operating profit of EUR 10 million to EUR 15 million.

SOURCE Ballast Nedam NV