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- Implenia is planning layoffs and the sale of parts of the company in the course of the restructuring, as the company announced this morning.
- In total, the construction company wants to lay off about 750 people by 2023, 250 of them in Switzerland.
The restructuring will also result in high costs and value adjustments, as the group announced today. According to the announcement, up to 2,000 full-time positions will be affected by the planned 2023 restructuring. Around 750 layoffs are planned, 250 of them in Switzerland, he says. The remaining positions will be passed on 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 will continue in other markets.
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 continuing negative effects of Covid-19 in FY2020. Consequently, a loss of 70 million francs is expected for EBITDA.
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.
