Heijmans (HEIJM) CMD 2026 presentation summary

Strategic progress and market positioning

• Achieved financial targets ahead of schedule, driven by strong execution of the 'Together towards 2030' strategy.

• Benefiting from structural market tailwinds and sustained high demand in the Dutch construction sector.

• Positioned as a leading integrated player with the #2 landbank in the Netherlands and strong client relationships.

• Transitioned to a scalable, process-driven operating model, improving productivity and efficiency.

• Focused on risk management, prudent accounting, and selective project participation.

Financial performance and targets

• Revenue reached €2.7 bln in 2025, with an outlook of around €3.1 bln and a target of €4 bln by 2030.

• Underlying EBIT margin improved to 9.1% in 2025, targeting 8-10% by 2030.

• ROCE at 28% and solvency at 33% in 2025, reflecting a robust balance sheet.

• 50% of net result paid out as cash dividend, with €110 mln distributed over 2024-2025.

• Total shareholder return increased by 635% since January 2024, with a €2.0 bln market cap increase.

Market outlook and sector trends

• Dutch construction market outperforms Europe, with annual growth above 2.5% and high construction density.

• Strong demand drivers include energy transition, climate adaptation, population growth, and infrastructure renewal.

• Housing market faces supply shortages and execution bottlenecks, rewarding scaled, industrialised players.

• Non-residential and infrastructure segments benefit from public investment and regulatory-driven upgrades.

• Energy sector sees persistent grid constraints, driving large-scale investments and integrated solutions.