European-wide Technical Services Provider Imtech in the fields of Electrical, Mechanical and ICT Engineering and Construction, has published its latest trading update.

With 25,000 employees and an annual revenue in excess of 4 billion Euros across Europe, the company has an annual turnover in excess of £400 million in the UK and Ireland.

Imtech experienced further growth in its order book in the third quarter of 2010, compared to the corresponding period last year. The company is maintaining its full-year outlook for 2010 and expects a further increase in EBITA through organic growth and acquisitions. Since Imtech has nearly attained its long-term targets in the prevailing 2008 - 2012 strategic plan, it will present a strategy update for 2011 - 2015 on 2 November 2010.

René van der Bruggen, CEO Imtech commented:

‘Imtech's order book has showed positive development in the third quarter of 2010. Even though market conditions in general have not improved, Imtech has distinguished itself with an increase in its order book, especially in the German, Nordic and Eastern European markets, as well as European markets for ICT and Traffic.

“To date, there were seven acquisitions in 2010 resulting in annual total revenue of approximately 270 million euro. This will contribute to the continued growth of the company in the coming years. Imtech’s acquisition policy distinguishes itself by focusing on high-performance acquisition candidates. When these are integrated into the Imtech portfolio, they will exhibit additional growth while at the same time ensuring substantial autonomous growth of existing activities. Imtech fully maintains its full-year outlook for a further EBITA increase in 2010. On 2 November, the company will present its long-term objectives for 2015.'

The company said that although in the UK (including Ireland) the economic climate remained uncertain,  Imtech’s strong position in the region had allowed it to maintain stability in its activities - its specific technologies and project management expertise in the British waste water industry combined with sustainable technology made it possible to offer total solutions in this market.

Strong financial position

Imtech's described its current financial position as strong, in part due to the issue of new shares in June 2010 and said that the company remained well within the agreed ratios with its banks.

According to its current views Imtech expects a further increase in EBITA in 2010 through organic growth and acquisitions. Its targets of the prevailing 2008 - 2012 strategic plan - a revenue of 5 billion euro in 2012 (2009: around 4.3 billion euro) while maintaining an operational EBITA margin of 6% (2009: 5.8%) - have nearly been attained.