GlobeNewswire by notified

Arcadis Trading Update Q3 2021


Continued strong organic revenue growth and further strengthened balance sheet

  • Sustained strong client demand driven by climate change, energy transition and urbanization
  • Organic net revenue growth of 4.1% to €636 million
  • Operating EBITA margin of 10.1%
  • Net working capital of 14.0% and DSO of 74 days
  • Free cash flow of €75 million
  • Organic backlog growth year-over-year of 3.1%
  • Successfully re-financed credit facilities into one sustainability-linked, syndicated Revolving Credit Facility of €500 million
  • Arcadis improves Sustainalytics 2021 score and again ranks number one in the ‘Construction & Engineering’ category, featuring 292 companies

Amsterdam, 28 October 2021 – Arcadis (EURONEXT: ARCAD), the leading global Design & Consultancy organization for natural and built assets, reportsan organic net revenue growth of 4.1%and solidoperating EBITA margin of 10.1% for the third quarter. The company was successful in strengthening its balance sheet, with a lower net debt of €47 million.

Peter Oosterveer, CEO Arcadis, comments: “We continue to see strong demand from clients to help mitigate the impact of climate change. We have supported them design and develop energy transition projects and create sustainable assets and livable communities, all of which enabled us to deliver robust overall performance. To accelerate our strategy and even better leverage the global scale of our expertise and asset knowledge, as well as to drive greater efficiency, we are gradually organizing ourselves in three global business areas, Resilience, Places and Mobility”.

“In September, we announced our commitment to accelerate the transition to a net zero world, by rapidly reducing our operational carbon footprint and reach net zero emissions by no later than 2035. An important tenet of our strategy is to put sustainability at the heart of all the solutions we provide, which is why we announced the launch of our global Sustainability Advisory Services, allowing us to consolidate our global capabilities and bring the very best of Arcadis to all our clients. We are steadfast to mitigate the impacts of climate change by offering smarter, cleaner, and greener solutions to our clients and the improved score from Sustainalytics, ranking Arcadis as number one in our sector, confirms that we are on the right path”.

“The increased investments from both public and private sector clients in growth areas such as smart mobility solutions, green places, energy transition and climate change resilience projects create a positive business outlook for the future and will enable Arcadis to secure new projects and maintain a healthy pipeline of opportunities. This, combined with our organic net revenue growth, continued robust performance and strong backlog gives me confidence in our ability to deliver the strategic targets we have set for 2023.”



in € millions
Period ended 30 September
20212020change 20212020change
Gross revenues8297816%2,4892,4840%
Net revenues6366045%1,9121,8901%
Organic growth4.1%-3.2%3.4%-0.9%
EBITDA margin13.5%15.2%13.5%13.0%
Adjusted EBITDA1)7074-5%2041879%
EBITA margin9.6%10.5%9.2%8.2%
Operating EBITA2)6466-3%18116311%
Operating EBITA margin10.1%10.9%9.5%8.6%
Free cash flow1)75119105200
Net working capital %14.0%16.6%
Days sales outstanding7482
Net debt1)47195
Backlog net revenues (billions)2.12.0
Backlog organic growth (y-o-y)3.1%3.7%

1) Excluding IFRS 16 impact, used for Net Debt/EBITDA and Free Cash Flow calculation
2) Excluding restructuring, acquisition & divestment costs


(35% of net revenues)

in € millions
Period ended 30 September 
20212020change 20212020change
Gross revenues3393235%1,0081,036-3%
Net revenues2222182%655671-2%
Organic growth3%4%

Organic net revenue growth increased supported by all business lines. Order intakes remains robust with significant sustainable and digital project wins in Los Angeles (L.A. Metro) and New York (wastewater treatment plants). Our key priority is to retain and attract talent and to expand the usage of our Global Excellence Centers.

Outstanding organic net revenue growth in Latin America, driven predominantly by infrastructure work in Brazil.

(46% of net revenues)

in € millions
Period ended 30 September
20212020change 20212020change
Gross revenues34931810%1,0689937%
Net revenues29226510%9008387%
Organic growth7%7%

Organic net revenue growth in EME was mainly driven by significant growth in the UK and several countries in Continental Europe, compensating for an expected and planned modest decline in the Middle East, driven by our decision to reduce our footprint in this region.

The UK’s strong performance continued this quarter with excellent organic net revenue growth driven by key clients and sustainability related projects in all business lines. Significant project wins included a commercial partner role for the transformative Oxford-Cambridge railway link and contract framework wins for National Highways.

In Continental Europe we experienced steady organic net revenue growth. Our presence in several major countries positions us well for opportunities presented by public and private clients, related to climate and mobility challenges. This is illustrated by significant project wins including the decommissioning of 28 gas extraction plants for the NAM in the Netherlands, a ten-year contract for energy distributor TenneT to support the energy transition in Germany and a six-year contract to restore bridges and quays in Amsterdam.

(14% of net revenues)

in € millions
Period ended 30 September 
20212020change 20212020change
Gross revenues968810%2692700%
Net revenues888010%2472441%
Organic growth7%0%

Revenues in Asia returned to good organic growth in the quarter, mainly driven by Greater China, while prolonged lockdowns and low vaccination rates continue to impact numerous Asian countries, such as Thailand, Vietnam or Malaysia. In Singapore, we were awarded a significant contract to help strengthen the resilience of the city state’s rail network.

Australia reported good growth in the quarter, benefiting from Arcadis strong market position in infrastructure in major cities, despite repeated regional lockdowns.

(5% of net revenues)

in € millions
Period ended 30 September 
20212020change 20212020change
Gross revenues4452-15%144185-22%
Net revenues3441-16%110138-20%
Organic growth-17%-15%

Organic net revenues are still under pressure due to COVID-19, affecting mainly retail and commercial sectors, especially in Asia. However, CallisonRKTL did secure a number of transformational projects involving collaboration of several practice areas in the US and in China.

Net revenues totaled €636 million and increased organically by 4.1%, and excluding the Middle East 4.8%, while the currency impact was 1%. For the first nine months, net revenues increased organically by 3.4% to €1.912 million.

Operating EBITA in the quarter decreased by 3% compared to last year, to €64 million (Q3 2020: €66 million). The operating EBITA margin of 10.1% decreased compared to Q3 last year (Q3 2020: 10.9%) due to a variety of COVID-19 measures taken last year. Non-operating costs were €3 million, compared to €2 million in Q3 2020.

Year-to-date the Operating EBITA increased by 11% to €181 million, and the operating EBITA margin improved from 8.6% to 9.5%.

Free cash flow in the third quarter was solid at €75 million (Q3 2020: €119 million), leading to a year-to-date free cash flow of €105 million (2020: €200 million). In 2020, the full year free cash flow was exceptionally strong due to the cash program undertaken and a significant improvement in the invoicing process in the U.S. following the Oracle implementation.

Net working capital as a percentage of annualized gross revenues improved to 14.0% (Q3 2020: 16.6%) and Days Sales Outstanding decreased to 74 days (Q3 2020: 82 days), resulting from our ongoing focus on timely cash collection.

The balance sheet was further strengthened resulting in a significantly lower net debt of €47 million (Q3 2020: €195 million), mainly due to the strong cash collection.

Arcadis refinanced its credit facilities into a Sustainability-linked, syndicated Revolving Credit Facility of €500 million. The Sustainability-link allows Arcadis to benefit from an interest discount in case the ESG management score reported by Sustainalytics improves considerably. The lenders in the new Revolving Credit Facility remains the same group of reputable, international banks. The maturity of the new Revolving Credit Facility is October 2026, with two additional options to extend for one year. The terms and conditions have further improved due to the strong financial profile of Arcadis and the more accommodative market circumstances.

Arcadis commenced a share buyback program for 1.85 million shares on February 19, 2021. to cover existing obligations under employee incentive plans and commitments for stock dividend. the program was concluded on August 13, 2021. The 1.85 million shares have been repurchased at a volume-weighted average share price of €34.22, for a total consideration of €63.3 million. Arcadis cancelled 616,854 repurchased shares, which is the same amount as issued for the dividend payment in shares.

At the end of September 2021 backlog was €2.1 billion (Q3 2020: €2.0 billion), representing 10 months of net revenues. Organic backlog increased with 3.1% year-over-year, and 3.7% year-to-date.

As announced on our Sustainability Day on September 30th, Arcadis is committed to accelerating the industry’s transition to a net zero world, while improving quality of life for everyone. Our strategy, ‘Maximizing Impact’, lays out how we will embrace sustainability in all that we do. This includes our services and advice to clients, the way we operate our company, and how we engage with our people and communities.

Sustainalytics provides an independent, comprehensive assessment of how well companies are managing material environmental, social and governance (ESG) issues, and thus how well we are putting sustainability core in everything we do. On October 22nd, Sustainalytics published the new score for Arcadis. The ESG risk score further improved to 12.9, with which Arcadis is again leading the “Construction & Engineering” industry, featuring 292 companies.

Jurgen Pullens
Mobile: +31 6 5159 9483

Daan Heijbroek
Mobile: +31 6 1026 1955

Arcadis will hold an analyst meeting and webcast to discuss the Q3 results for 2021. The analyst meeting will be held at 10.00 hours CET today. The webcast can be accessed via the investor relations section on the company’s website at

Arcadis is a leading global Design & Consultancy organization for natural and built assets. Applying our deep market sector insights and collective design, consultancy, engineering, project and management services we work in partnership with our clients to deliver exceptional and sustainable outcomes throughout the lifecycle of their natural and built assets. We are 28,000 people, active in over 70 countries that generate €3.5 billion in revenues. We support UN-Habitat with knowledge and expertise to improve the quality of life in rapidly growing cities around the world.

This press release contains information that qualifies or may qualify as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

Statements included in this press release that are not historical facts (including any statements concerning investment objectives, other plans and objectives of management for future operations or economic performance, or assumptions or forecasts related thereto) are forward-looking statements. These statements are only predictions and are not guarantees. Actual events or the results of our operations could differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements are typically identified by the use of terms such as “may,” “will”, “should”, “expect”, “could”, “intend”, “plan”, “anticipate”, “estimate”, “believe”, “continue”, “predict”, “potential” or the negative of such terms and other comparable terminology. The forward-looking statements are based upon our current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, our actual results and performance could differ materially from those set forth in the forward-looking statements.


To view this piece of content from, please give your consent at the top of this page.
To view this piece of content from, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified


Bid date, 2021-11-30Auction date2021-11-30Settlement date2021-12-01Maturity Date2021-12-08Nominal amount570 billion SEKInterest rate, %0.00Bid times09.30-10.00 (CET/CEST) on the Bid dateConfirmation of bids to e-mailrbcert@riksbank.seThe lowest accepted bid volume1 million SEKThe highest accepted bid volume570 billion SEKAllocation Time10.15 (CET/CEST) on the Bid dateProjected minimum liquidity surplus during the term1140 billion SEKExpected excess liquidity at full allotment570 billion SEK Stockholm, 2021-11-30

Stratio raises $12M Series A to Scale AI-based Predictive Fleet Maintenance Platform using Real-time Augmented Intelligence30.11.2021 09:02:00 CET | Press release

Investment led by Forestay with participation from existing investor Crane Venture Partners to be used to further accelerate global expansion, increase R&D, boost product development, and double headcount by the end of 2022 LISBON, Portugal and LONDON, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Stratio, the world’s leading real-time predictive fleet maintenance platform, today announced a $12M Series A funding round to further accelerate its growth. The investment, led by Forestay Capital, the Deep Tech and SaaS Venture Capital arm of Waypoint Capital, with participation from existing investor Crane Venture Partners, will be used to further accelerate the company’s global expansion, increase its R&D, speed up overall time-to-market, and double its headcount by the end of 2022. Stratio already has its technology deployed in 5 of the top 10 transportation companies in the world and has enabled transportation for 1.3 billion people so far. The company’s Annual Recurring Revenue (ARR) has grown 270

Not intended for U.S. Media – Solvay announces results of its tender offer to purchase bonds for cash30.11.2021 08:32:08 CET | Press release

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA OR TO ANY U.S. PERSON OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT. Solvay SA continues its deleveraging through the early redemption of bonds due in 2022 Brussels, 30 November 2021 --- Solvay SA (the “Issuer”) today successfully closed the tender offer on its outstanding EUR 750 million 1.625% bonds due 2022, by acquiring €372.5 million of senior debt, marking another step in the strong deleveraging that commenced in 2019. As part of its G.R.O.W. strategy, Solvay has prioritised cash generation and, since January 2019, has generated €2.3 billion operationally, both from improving

Sampo plc’s share buybacks 29/11/202130.11.2021 08:30:00 CET | Press release

SAMPO PLC STOCK EXCHANGE RELEASE 30/11/2021 at 08:30 am Sampo plc’s share buybacks 29/11/2021 On 29/11/2021 Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI0009003305) as follows: Sampo plc’s share buybacksAggregated daily volume (in number of shares)Daily weighted average price of the purchased shares*Market (MIC Code)33,86443.34AQEU34,08143.27CEUX4,67243.25TQEX109,28243.26XHELTOTAL181,89943.28 *rounded to two decimals On 1 October 2021, Sampo announced a share buyback programme of up to a maximum of EUR 750 million in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. The programme, which started on 4 October 2021, is based on the authorization granted by Sampo's Annual General Meeting on 19 May 2021. After the disclosed transactions, the company owns in total 5,631,827 Sampo A shares representing 1.01 per cent of the total number of shares in Sampo plc. Detai

Aino Health AB (publ): Världsledande tillverkare väljer Aino Healths SaaS-lösning HealthManager30.11.2021 08:30:00 CET | Pressemelding

Stockholm 30 November, 2021. Ett världsledande tillverkningsföretag och global marknadsledare inom aggregat-, mineralbearbetnings- och metallraffineringsindustrin har valt att utöka användningen av Aino Healths SaaS-lösning HealthManager. Avtalet innehåller totalt 2 400 licenser, varav 1 300 är nya licenser. "Vi är mycket glada och stolta över att fortsätta och utöka en nyckelaktör inom tillverkningsindustrin som kund. Vi ser fram emot att tillsammans öka personalens välbefinnande och engagemang", säger Jyrki Eklund, VD Aino Health. HealthManager är Ainos egen SaaS-lösning som stödjer chefer med interna hälsorelaterade processer och frånvarohantering. Det erbjuder också rapporterings- och analysverktyg för att följa viktiga mätvärden relaterade till företagets hälsohantering. Målet med lösningen är att digitalisera arbetsförmågasprocesser och öka medarbetarnas engagemang. Om Aino Health (publ) Aino Health är den ledande leverantören av Software as a Service-lösningar inom Corporate Hea

Aino Health AB (publ): World leading manufacturer chooses Aino Health's SaaS-solution HealthManager30.11.2021 08:30:00 CET | Press release

Stockholm 30 November, 2021. A world leading manufacturing company and global market leader for sustainable technologies in the aggregates, minerals processing and metals refining industries, has chosen to extend the usage of Aino Health’s SaaS-solution HealthManager. The agreement contains a total of 2 400 licenses, out of which 1 300 are new licenses. ”We are very happy and proud to continue and extend a key player in the manufacturing industry as a customer. We look forward to together increase their personnel’s’ wellbeing and engagement”, says Jyrki Eklund, CEO Aino Health. HealthManager is Ainos own SaaS solution that supports managers with internal health-related processes and absence management. It also offers reporting and analytic tools to follow key metrics related to corporate health management. The goal of the solution is to digitalize working ability processes and to increase employee engagement. About Aino Health (publ) Aino Health is the leading supplier of Software as a

PCI Biotech and Immunicum Announce an Extension to Their Research Collaboration to Explore Novel Cancer Vaccination Treatments30.11.2021 08:00:00 CET | Press release

Oslo, Norway, November 30, 2021 - PCI Biotech Holding ASA (OSE: PCIB), a cancer focused biopharmaceutical company with a unique intracellular delivery technology via Photochemical Internalisation and Immunicum AB (publ; IMMU.ST), a biopharmaceutical company focused on hard-to-treat established tumors and the prevention of cancer recurrence, announced today an extension of their current collaboration. The companies jointly research the possibility to overcome current hurdles in cancer immunotherapy by introducing tumor independent immune targets into the tumor microenvironment, in combination with vaccination or adoptive immunotherapies. The so-called Tumor Independent Antigen concept, which has been invented by Immunicum, could benefit from PCI Biotech’s antigen delivery technologies based on Photochemical Internalisation. Following the encouraging results of the first set of in vitro experiments, during which the delivery protocol of the combination treatment has been optimized, the c