Royal Heijmans positive on the first half of 2026 

Highlights H1 2026

• Revenue rises to € 1.517 billion (H1 2025: € 1.310 billion). 

• Underlying EBIT increases to € 104 million; margin 6.9% (H1 2025: € 82 million; margin 6.3%). 

• Order book increased to € 4.1 billion (H1 2025: € 3.0 billion) and of good quality. 

• Number of homes sold declines: 1,506 (H1 2025: 1,634 homes). 

• Net cash position: € 51 million (H1 2025: net debt € 40 million). 

• Increased financial flexibility thanks to the renewal of the Revolving Credit Facility and an accordion clause for potential acquisitions. 

• Outlook for 2026 remains in line with previous guidance; the margin is now presented on an EBIT basis. Revenue of around € 3.1 billion; underlying EBIT-margin heading towards 7.3%. 

Ton Hillen, CEO Heijmans

"Royal Heijmans is positive about the first half of the year, given the increased profitability and growth in revenue. We are seeing growth in the energy sector, especially within the Connecting business segment. Heijmans is playing an active role in the renewal and expansion of the high-voltage grid in the Netherlands. This is not only necessary to prevent grid congestion, as the Netherlands cannot afford an infrastructure policy that is forced to respond to one incident after another. Neither underground nor above ground. The maintenance challenge is too big, too important and too closely intertwined with our country’s future. 

I would like to express my confidence in the government, the Dutch public works agency Rijkswaterstaat and the approach that prioritises safety and urgency. At the same time, we must be honest: the fact that such tough prioritisation is required shows that the Netherlands is structurally under-investing in its infrastructure. Yet this infrastructure is the lifeblood that provides the Netherlands with the oxygen it needs to remain safe and accessible and to generate economic growth. The choice now is between investing in large-scale maintenance or carrying out much more expensive repairs later. This is partly due to future labour shortages. And partly because we know that we will not suddenly be able to resolve everything later on. The maintenance challenge requires a structurally adequate budget, smart prioritisation and close cooperation between the government and the private sector. The effective coordination of planning, capacity, funding and innovation has never been more important if the Netherlands is to make sure the maintenance challenge remains manageable. Together, it is possible."

The maintenance challenge requires a structurally adequate budget, smart prioritisation and close cooperation between the government and the private sector.

Outlook 2026: focus on underlying EBIT-margin 

Heijmans reiterates its Outlook for 2026, in which we forecast a strong financial performance. We expect revenue to continue to grow this year to around € 3.1 billion. As announced at the most recent Capital Markets Day (new window), Heijmans has decided to report the underlying EBIT-margin as a performance indicator from now on, rather than the underlying EBITDA-margin. Converted to underlying EBIT-margin, the outlook for 2026 is heading towards 7.3% (for comparison purposes: Heijmans previously forecast underlying EBITDA (new window) heading towards 9.5%). Our strong order book, valued at € 4.1 billion, has grown compared with the same point in time a year earlier and is of high quality. We remain committed to a careful selection of projects in which we are able and willing to participate. This is based on a good balance between risk acceptance and profitability, as well as sufficient capacity and the quality of our deliverables. It goes without saying that we also look at the added value we can deliver in the areas where Heijmans has clear expertise. The five pillars of our strategy ‘Together towards 2030’ (new window) – Well-being (new window), Sustainability (new window), Connection (new window), Producibility (new window) and Team (new window) – give us focus and are future-proof. 

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