Heijmans (HEIJM) Q3 2025 TU earnings summary

Executive summary

• Continued positive trend in Q3, aligning with H1 forecasts for underlying EBITDA margin of around 9.0% for FY2025.

• Strong focus on addressing housing shortages and infrastructure needs in the Netherlands.

• Ongoing execution of the 'Together towards 2030' strategy, targeting residential construction, network congestion, and water quality challenges.

Financial highlights

• Year-to-date newly built homes sold: 2,313, slightly up from 2,284 in 2024.

• Order book increased to €3.3 billion from €2.7 billion in 2024, with improved quality.

• Revenue outlook for FY2025 reaffirmed at approximately €2.75 billion.

• Underlying EBITDA margin expected to remain around 9.0% for the full year.

Outlook and guidance

• FY2025 revenue expected to be around €2.75 billion, with an underlying EBITDA margin of about 9.0%.

• Continued investment in infrastructure seen as essential for reducing housing shortages.