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- Implenia is planning layoffs and the sale of parts of the company in the course of the restructuring.
- In total, the construction company wants to lay off about 750 people by 2023, 250 of them in Switzerland.
- Implenia wants to concentrate its activities mainly in Switzerland and Germany.
The restructuring also resulted in high costs and value adjustments, the group announced. A total of up to 2,000 full-time positions will be affected by the restructuring planned for 2023. Implenia currently employs around 9,700 people.
Around 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 will continue in other international markets.
This means that civil engineering and infrastructure projects will be divested. Activities in Sweden, Norway, Austria and Romania are affected. The situation in France is being “monitored,” he said.
The steps are to achieve savings of more than 50 million francs per year by 2023 and the fixed capital will decrease by about 20 percent. The restructuring costs amount to about 60 million francs.
50 million francs costs Covid-19
Added to this are costs estimated by companies of around 50 million francs due to the continued negative effects of Covid-19 in FY2020. Implenia therefore expects an operating loss (EBITDA) of 70 million francs.
Starting next year, the operating profit report will be changed to EBIT from the previous EBITDA. In 2021, the group expects an EBIT of more than 100 million francs, which would correspond to an EBITDA of more than 200 million, as it progresses.
We have solid funding ”, emphasized CEO Wyss. Despite value adjustments, a capital increase is currently not a problem.
