- Implenia is planning the layoffs and the sale of parts of the company undergoing restructuring, as announced this morning.
- In total, the construction company wants to lay off around 750 people by 2023, 250 of them in Switzerland.
The restructuring also resulted in high costs and value adjustments, as announced by the group today. According to the announcement, up to 2,000 full-time positions will be affected by the planned restructuring by 2023. About 750 layoffs are planned, 250 of them in Switzerland, he says. The remaining positions must be transferred to other owners.
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 continued in other markets.
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 estimated by companies of around 50 million francs due to the ongoing negative effects of Covid-19 in the 2020 financial year. As a result, a loss of 70 million francs is expected for EBITDA.
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.