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- Implenia is planning layoffs and the sale of parts of the company undergoing restructuring.
- In total, the construction company wants to lay off around 750 people by 2023, 250 of them in Switzerland.
- Implenia wants to focus its activities mainly on Switzerland and Germany.
The restructuring also involved high costs and value adjustments, the group announced. A total of up to 2,000 full-time positions will be affected by the planned restructuring by 2023. Currently Implenia employs approximately 9,700 people.
About 750 layoffs are planned, 250 of them in Switzerland, he says. The remaining positions will be transferred to other owners through the sale of the units in question, CEO André Wyss said in a conference call.
Focus on Switzerland and Germany
Implenia wants to focus its business on integrated construction and real estate services in Switzerland and Germany. Only tunnel construction and related infrastructure projects need to be pursued in other international markets.
This means that civil engineering and infrastructure projects must be divested. Activities in Sweden, Norway, Austria and Romania are affected. The situation in France is “monitored,” he said.
The measures should make it possible to save over 50 million francs per year by 2023 and the tied capital will decrease by around 20 percent. The restructuring costs amount to around 60 million francs.
50 million francs Covid-19 costs
Added to this are the costs of around 50 million francs estimated by companies due to the continuing negative effects of Covid-19 in fiscal 2020. Implenia therefore expects an operating loss (EBITDA) of 70 million francs.
Starting next year, the reporting of operating profit will be transferred to EBIT from the previous EBITDA. In 2021, the group expects an EBIT of over 100 million francs, which would correspond to an EBITDA of over 200 million as it goes on.
We are solidly funded, “said CEO Wyss. Despite the value adjustments, a capital increase is currently not a problem.
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