M&E group Imtech has announced that its full-year results were in line with expectations, and that it is set to grow further this year.

Full-year earnings before the deduction of interest, tax and amortisation (EBITA) were 鈧�156.5 m, compared with 鈧�113.3 m in 2006 on sales of 鈧�3.3 bn, up from 鈧�2.9 bn the previous year. The operational EBITA margin rose to 5.1% from 4.5% in 2006.

Its market position in the UK was strengthened during the financial year by the purchase of Cambridgeshire-based building services firm Aqua Group, which has an annual revenue of 鈧�51 m.

Other European acquisitions included Suir Engineering, one of Ireland鈥檚 largest electrical contractors, and Spanish industrial maintenance company Metubsa. Total cost of Imtech鈥檚 2007 buys was 拢163.5 m.

In the UK, Ireland and Spain, robust growth was reported. EBITA rose 27% to 鈧�28.5 m, and sales increased 25% to 鈧�417 m. Imtech attributed this to 鈥渁 sharp rise in revenue, EBITA and the order portfolio through organic growth and acquisitions鈥�.

The EBITA margin rose from 6.7% to 6.8%, and the firm鈥檚 order portfolio increased by 30.5% to 鈧�3.8 bn.

Alongside the Aqua Group, Imtech businesses in the UK include Imtech Meica, Goodmarriott & Hursthouse and Imtech Process.

The Dutch group hopes for more growth from the Olympics.

Source

Electrical and Mechanical Contractor