Hamon Group

Integrated solutions for a clean environnement

Financial News


22 Apr 2014 TRADING UPDATE Q1 2014

Hamon booked new orders for EUR 204 million during the first quarter (respectively EUR 156
million and EUR 101 million for the same period in 2013 and 2012).

10 Mar 2014 Capital increase Hamon & Cie (International)

28 Feb 2014 Consolidated annual results 2013

Regulated information 28 February 2014, 08:00
2013 consolidated annual results
Historically high booking level with a solid backlog to start 2014.
EBITDA above last year thanks to the excellent performance of our US operations.
Net income affected by Forex accounting losses and high tax burden.

Very successful commercial developments in most Business Units

  • Several big new orders for Wet and Dry cooling systems in China.
  • First large contract booked for a LNG plant by Process Heat Exchangers BU.
  • Record bookings for APC EMEA/Brazil BU, thanks to big contracts in Asia & Europe.
  • First mega order in the US market for the ReACT TM technology.
  • Deltak starting to benefit from the shale gas boom. 

Backlog well above one year of revenue

  • Historically high backlog close to EUR 750 million thanks to record new orders of nearly EUR 680 million.

EBITDA at EUR 19,7 million vs. EUR 17,0 million in 2012. Result before tax of EUR -1,1 million and Net result at EUR-5,7 million (Group share).

  • Sales growth + 11% compared to 2012 but still below our expectations.
  • The Group growth activities (i.e. mostly Dry Cooling and APC outside NAFTA) had a much lower negative impact on the Group’s profitability than in 2012 (EBITDA of EUR -6,7 million compared to EUR -14,0 million in 2012).
  • High tax rates in some countries like the USA and the prudent decision not to recognize Tax Assets in some loss-making subsidiaries lead to an excessive tax burden and a net loss of EUR -5,7 million (Group share).

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Information réglementée Le 28 février 2014, 8h00
Résulats annuels consolidés 2013 
Prises de commandes historiques et carnet de commandes bien rempli pour débuter 2014.
EBITDA supérieur à celui de 2012 grâce aux excellents résultats aux USA.
Résultat net impacté par des pertes sur variations de taux de change et des taxes élevées.

Très bonnes performances commerciales affichées par presque toutes les business units

  • Plusieurs grosses commandes pour des systèmes de refroidissement sec et humide en Chine.
  • Premièr gros contrat pour une usine LNG prise par la BU Echangeurs de chaleur.
  • Prises de commandes record enregistrées par la BU Dépollution de l’air EMEA/Brésil, avec de gros contrats dans le Sud Est asiatique et en Europe.
  • Première méga commande pour la technologie ReACT TM aux USA.
  • Deltak commence à profiter du marché du gaz de schiste, en pleine expansion. 

Le carnet de commandes représente nettement plus d’une année de chiffre d’affaires

  • Carnet de commandes à un niveau historique, à près de EUR 750 millions, grâce à des prises de commandes record, proches de EUR 680 millions.

EBITDA de EUR 19,7 millions contre EUR 17,0 millions en 2012. Résultat avant impôts de EUR -1,1 million et résultat net de EUR -5,7 millions (part du Groupe).

  • Chiffre d’affaires en croissance de 11% comparé à 2012 mais en-deçà de nos attentes.
  • Les activités de croissance du Groupe (principalement le Refroidissement Sec et la Dépollution de l’air hors NAFTA) ont moins pesé sur la rentabilité du Groupe qu’en 2012 avec un EBITDA de EUR -6,7 millions comparé à EUR -14,0 millions en 2012.
  • Le taux d’imposition élevé dans certains pays comme les USA et la décision prudente de ne pas reconnaître des actifs d’impôts différés dans certaines filiales en perte ont résulté en une charge fiscale élevée, débouchant sur une perte nette de EUR -5,7 millions (part du Groupe).

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24 Jan 2014 Hamon successfully completes a bond issue

Hamon & Cie (International) SA (“Hamon”) announces today that it has completed the offering of EUR 55 million senior bonds due in 2020 guaranteed by some of its subsidiaries (the “Bonds”). The offering was oversubscribed.  

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Click here to read the Prospectus (French version only)


11 Dec 2013 Implementation of a liquidity contract - Purchase of own shares

Hamon & Cie (International) SA/NV (NYSE Euronext: HAMO) announces that it has entered into a liquidity contract with a financial institution allowing the trade of the Hamon & Cie (International)  own shares on behalf and for account of Hamon & Cie (International). Those transactions are executed on the central book orders of the regulated market of Euronext Brussels. The purchase of own shares was authorized by the  Extraordinary General Meeting of shareholders of Hamon & Cie (International) SA/NV on April 28, 2009. 

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31 Oct 2013 Trading Update Q3 2013

Hamon booked new orders for EUR 99.5 million during the third quarter of 2013 (respectively EUR 87.2 million and EUR 141.5 million for the same period in 2012 and 2011).

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30 Aug 2013 Results H1 2013

Record bookings and Backlog. Sales and EBITDA gradually picking up.

Backlog well above one year of revenues

● Record new orders at EUR 432,6 million (6 months).
● Historical high backlog close to EUR 800 million.

EBITDA at EUR 10,0 million. Profit before tax of EUR 1,2 million but Net result at EUR-1,3 million (Group Share).

● Sales growth + 16% compared to H1 2012 but still lower than our expectations.
● Cost of the Group growth activities (i.e. mostly Dry Cooling and APC outside NAFTA) still impacting the Group’s profitability; but to a much lower extent than last year (EBITDA of EUR -2,8 million compared to EUR -7,5 million in H1 2012).
● High tax rates in some countries combined with a lack of global tax consolidation lead to an excessive tax burden causing a net loss of EUR -1,6 million.

Continuous build up for the future

● Systematic R&D and technical developments to offer our customers more competitive products and to keep our technical hedge against our competitors.
● Strong and continuous commercial investments, especially in the highly competitive but very promising Asian markets.
● ReACT TM technology accepted in the US market with a first mega order booked.

Interim dividend

● No interim dividend in September 2013; final dividend will be decided by AGM in April 2014. Hamon confirms its dividend policy of making payouts between 33% and 50% of
the full year 2013 net result. 

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Résultats S1 2013 - texte FR

26 Aug 2013 New CFO for Hamon

After ten years as CFO of the Hamon Group, Bernard Van Diest has decided to pursue new career opportunities outside of the Group. We thank him for the important role he played as Group CFO and his contribution to the success of Hamon during these years.

Effective October 1, Christian Leclercq will join Hamon as Group CFO, where he will be a member of the Executive Committee.

Christian Leclercq has developed an impressive successful career since obtaining his degree in Commercial Engineering from the Solvay Business School, Free University of Brussels in 1989. He is a seasoned senior finance executive who has built during more than 20 years a broad financial experience. Starting his career in audit at PWC, he became the Group Financial Controller at Walibi. Starting in 1996 in the Heidelberg Cement Group, he held several high level finance management functions and was appointed Finance Director in 2010.  He has a large international exposure having worked and lived in Turkey and the UK.

Based in Mont-Saint-Guibert in our corporate headquarters in Belgium, he will be leading his strong and competent team to continue to successfully contribute to the overall success of the Hamon Group.

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23 Apr 2013 Trading Update Q1 2013

Hamon booked new orders for EUR 156 million during the first quarter (respectively EUR 101 million and EUR 106 million for the same period in 2012 and 2011).

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25 Mar 2013 Annual Shareholder Meeting - Invitation

The invitation and other relevant documents for the Annual Shareholder Meeting of April 23 can be downloaded from here.

01 Mar 2013 Two major successes for APC EMEA / Brazil

 Two major successes for APC EMEA / Brazil in France and Asia booked in February 2013

EDF - Cordemais PP

EDF – the French utility – has awarded a major contract to Hamon for the rebuild of ESP’s (electrostatic precipitators).  These ESP’s  will remove 99% of the particulates emitted by three 600 MW coal fired power plants  (1 in Le Havre and 2 in Cordemais).  The contract is a part of the global EDF Q600 project to extend the useful life of EDF’s coal fired power plants to 2035.  

Hamon will rebuild one ESP per year, to be completed in March 2014, 2015 and 2016.  With a value close to EUR 44 million, this contract confirms the continuous leadership of Hamon in the particulate control segment of the Air Pollution Control market for power plants.

Hamon has set up a high quality project team to manage this contract, making use of its best resources from France, Germany and Belgium.


Hamon will supply a Wet Limestone Flue Gas Desulfurization for the future  300 MW fuel-oil boiler of the O Mon II power plant. This EVN (Vietnam Electricity) power plant is located in the south of Vietnam,160km south of Can Tho, in the Mekong Delta. This project, with an approximate value of USD 16 million, will be executed by the Hamon FGD (flue gas desulphurisation) centre of excellence team in Essen, Germany, with the local support of Hamon Asian offices.

Hamon won this contract thanks to the technical excellence of its FGD team in Essen (Hamon Enviroserv) and the commercial efforts of the Asian hub set up during 2012 in Korea and Vietnam. It is the second contract that Hamon has secured since it focused its APC unit on Asia.  For the record, Hamon has won a USD 12 million contract for the supply of two ESP’s (Electrostatic Precipitators)  for a 2x600 MW green field coal fired boiler build by PetroVietnam in Thai Bin in Q4 2012.



Deux succès majeurs pour l’APC EMEA / Brazil en France et en Asie enregistrés en février 2013

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01 Mar 2013 Consolidated annual results 2012


Regulated information                                                                                                                                    1st March 2013, 8 AM

Consolidated annual results 2012


Success in traditional activities but weight of new activities impacts – in the short term - Hamon’s profitability and result. Result before tax reduced to EUR +2.6 million in 2012 compared to EUR +5.4 million in 2011.


Backlog representing more than one year of revenue

  • New order bookings amounting toEUR 461.7 million in 2012.
  • Backlog as of 31/12/2012 ofEUR 621.4 million.
  • Important number of pending offers and of « limited notices to proceed ».


EBITDA of EUR 17.1 million – Result before tax of EUR +2.6 million. Net loss of EUR -1.6 million (Equity holders of the Company EUR -2.5 million)

  • Sales increasing by 25% versus 2011.
  • BUs EBITDA increasing by EUR +4.6 million during 2nd half year versus 1st half year of 2012.
  • Result before tax of EUR +2.6 million.
  • Net loss due to heavy taxes because no tax consolidation on worldwide basis.


Encouraging developments for the future

  • Growth of Dry Cooling activities with important commercial and R&D investments.
  • First success of APC in Asia and in Eastern Europe which should allow to bear the redeploying costs of this activity. Good level of bookings of this BU early 2013.
  • Expansion of Deltak sales activities in Asia with positioning in the global heat recovery steam generator market.
  • Progress towards the acceptance of the ReACT© technology on the U.S. market.

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Information réglementée                                                                                                                                     1er mars 2013, 8 h

Résultats annuels consolidés 2012


Succès des activités traditionnelles mais le poids des nouveaux développements pèse – à court terme - sur la rentabilité et le résultat de Hamon, faisant passer le bénéfice avant impôts de  EUR +5.4 millions en 2011 à EUR +2,6 millions en 2012.


Carnet de commandes largement supérieur à une année de chiffre d’affaires

  • Prises de commandes 2012 deEUR 461,7 millions.
  • Carnet de commandes au 31/12/2012 deEUR 621,4 millions.
  • Nombre important d’offres remises et de « limited notices to proceed ».


EBITDA de EUR 17,1 millions – Bénéfice avant impôts de EUR +2,6 millions. Perte nette de EUR -1,6 million (Part du Groupe EUR -2,5 millions)

  • Belle progression des ventes de +25% par rapport à 2011.
  • Les EBITDA des diverses BU sont en progrès de EUR +4,6 millions au second semestre par rapport au premier semestre 2012.
  • Bénéfice avant impôts de EUR +2,6 millions.
  • Perte nette due à une charge d’impôts importante vu l’absence de consolidation fiscale mondiale.


Développements encourageants pour le futur

  • Croissance des activités Dry Cooling avec des investissements en R&D et commerciaux importants.
  • Premiers succès de l’APC en Asie et en Europe de l’Est qui devraient permettre de supporter le redéploiement de cette activité. Bon niveau de bookings de cette BU en ce début 2013.
  • Développement des activités commerciales de Deltak en Asie pour se positionner sur le marché global des chaudières de récupération.
  • Avancées dans l’acceptation de la technologie ReACT© sur le marché américain

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26 Feb 2013 2012 Annual Results - Presentation to Financial Analysts

Please download the pdf in order to get the practical information.

Get the presentation here


31 Aug 2012 H1 2012 - Analyst Presentation Practical Info

26 Jun 2012 Bell Ceremony at NYSE Euronext

After the Bell Ceremony of the "Entreprise de l'Année" last October, Mr. Francis Lambilliotte had again the opportunity on this 25 June to ring the opening bell of the Brussels Stock Exchange. This ceremony was organized for the celebration of the 15th anniversary of Hamon's listing.

Mr. Lambilliotte was accompanied by Mr. Bernard Van Diest, Hamon Group CFO, and Mr. Thierry Tondreau, Hamon Group Risk & Administration Director.

Bell ceremony 2Bell ceremony 1

29 Feb 2012 Analysts Meeting Presentation

29 Feb 2012 2011 Annual Results - Analyst Conference Practical Info

20 Jan 2012 RCDC awarded mega order for 10 ACC in Saudi Arabia

17 Jan 2012 New notification of shareholdership


02 Sep 2011 Hamon completes the Deltak\'s acquisition

01 Sep 2011 Interim Dividend payment on 8 September 2011

01 Sep 2011 Analyst Presentation H1 2011 on line

26 Aug 2011 H1 2011 - Analysts Conference - Practical Info

05 Aug 2011 Trading Update 5 August 2011

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