Operational restructuring measures

Reduction in workforce
Grontmij is accelerating its comprehensive restructuring plan as announced on 8 November 2011. The actions include a reduction of the direct and indirect workforce with approx. 150 to 200 employees, impacting mainly the Netherlands, and the corporate head office in De Bilt. The flexible layer (e.g. agency staff, temporary staff) in our workforce allows for some reductions, but forced redundancies can not be ruled out. The company has started the consultation process with the Dutch Works Council and the relevant trade Unions. The expected charge in the fourth quarter 2011 in relation to the workforce reduction amounts to approx. € 9 million.

Office space reduction
Following the previously announced office reduction program, various offices will be merged and relocated (mainly in the Netherlands). As a result of these actions and staff redundancies, the company will have obsolete office space and is expected to incur additional housing charges of approx. € 3 million in the fourth quarter of 2011.

In addition to these measures, as well as the ongoing review of its financial structure as announced on 29 November 2011, Grontmij continues to explore all possible options and measures to align its organisation with the current market environment and create a solid foundation for 2012 and beyond. The company will provide updates accordingly and at the latest upon publication of the 2011 annual results on 9 March 2012.
 
Update on outlook
Based on current trading, Grontmij expects its full year 2011 EBITA, excluding restructuring charges, revaluation and results from investments in equity accounted investees (EAI), to be between € 36 – 40 million (2010: € 46.5 m). As a result of the accelerated restructuring and related costs to be taken in the fourth quarter of 2011, Grontmij will incur a net loss for the full year 2011.

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Note to editors

Grontmij is the third largest engineering consultancy in Europe with nearly 10,000 professionals and almost 300 offices across the region and a further 50 offices globally. At the heart of our business is the sustainability by design principle. It is a leading value proposition for our customers delivered by four business lines: Planning & Design, Transportation & Mobility, Water & Energy, Monitoring & Testing.

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Grontmij provides update on restructuring programma

Grontmij geeft update ten aanzien van herstructureringsprogramma