Imtech see strong upturn post COVID-19 pandemic peak

23 Aug

Imtech see strong upturn post COVID-19 pandemic peak

Added on: 23/08/2021

Following the easing of the remaining COVID-19 related restrictions, Imtech Group has seen a period of strong recovery and growth, starting in the final quarter of 2020 and continuing into 2021. A sharp upturn in new work in Q4 2020 resulted in a closing order book for 2020 of £538m and new contracts worth over £311m have been secured during the first half of 2021.

Each business in the Group has contributed to these wins: Breathe, Imtech’s energy performance contracting arm, has supported a number of NHS Trusts to secure over £100m of funding through the Public Sector Decarbonisation Scheme to deliver carbon reduction projects. These will help meet the net zero ambitions of Imperial College Healthcare, Harrogate District Hospital, Northumbria Healthcare and Northern Lincolnshire & Goole NHS Foundation Trust. Imtech’s Engineering Services has secured projects for the BBC in London, the NHS in the North West and North East, a school in Leeds, a new hotel in Hoxton, London and at the National Manufacturing Institute Scotland in Glasgow, as well as adding to its portfolio of work for parent company, EDF, in the nuclear arena.

Imtech businesses, Inviron and Capula, both celebrated wins with new and existing clients in the first half of 2021. Inviron secured and mobilised two long-term NHS contracts in the South East, worth in the region of £18m and also complemented its work at the Houses of Parliament by being appointed to the MEPFS framework, which will also bring opportunities for the wider Group. Building on a 25-year relationship, Capula has been selected as a strategic supplier on a five-year framework supporting National Grid to deliver the UK’s future energy transmission systems.

As with many of its industry peers, 2020 represented a challenging year for the Imtech Group. The onset of the COVID-19 pandemic in late March and the resulting drop in productivity levels caused by site closures and enforced restrictions particularly impacted its Engineering Services activities.

Notwithstanding this, the Engineering Services business was able to accelerate, and successfully complete, plans to restructure and consolidate its UK regional businesses into a single entity. The new organisation will deliver a consistent approach to drive quality and efficient productivity levels. There is already clear evidence, from the strong start in 2021,  that it is creating a better experience for customers and driving future growth.

Having a strong and supportive parent company in EDF has provided Imtech with financial resilience throughout the past year, ensuring the overall cash position always remained strong and it was able to support employees and supply chain partners during this unprecedented time for the UK and the industry.

Gautier Jacob, CEO, Imtech UK commented: ‘I’m incredibly pleased that we are able to report this exceptional start during the first half of this year and that Imtech is playing a full part in the strong bounce back and recovery of the UK construction industry, which started in the latter part of last year and has continued to gain strength during 2021. Looking forward, we can see many opportunities coming through the pipeline and we anticipate a continued upturn within the industry and economy.

As well as having a very strong forward order book, we remain focussed on our strategy to achieve growth in our targeted sectors including public sector, technology and industry. Our experience and expertise ensure we are in a good position to support our clients achieve their net zero ambitions, as we all work toward the Government’s Ten Point Plan for a Green Industrial Revolution.’

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