Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Ambitious TMC Closes 2010 Strongly and Proposes Anniversary Dividend


News provided by

TMC Group N.V.

22 Mar, 2011, 06:30 GMT

Share this article

Share toX

Share this article

Share toX

EINDHOVEN, The Netherlands, March 22, 2011 /PRNewswire/ --

    
    RESULTS (x Eur 1,000)       2010    H2**      H1*    2009    H2**    H1*
                                         2010    2010            2009   2009

    Revenues                  42,094   22,805  19,289  37,151  17,487 19,664
 
    Gross profit              15,274    8,427   6,847  12,109  6,357   5,752
    % of the revenues           36.3%    37.0%   35.5%   32.6%  36.4%   29.3%
 
    EBITDA                     5,272    3,223   2,049   2,716  1,611   1,105
    % of the revenues           12.5%    14.1%   10.6%    7.3%   9.2%    5.6%
 
    Result for the period ***) 3,457    2,150   1,307  -4,740    884  -5,624
    % of the revenues            8.2%     9.4%    6.8%  -12.8%   5.1%  -28.6%
 
    * H1: first half year
    ** H2: second half year
    *** Results H1 2009 including impairment loss on goodwill Eur 6.2 
    million, and therefore in full year 2009 as well

Highlights 2010

- Proposed dividend payment of Eur 0.40 per share and Eur 0.10 anniversary dividend per share.

- 94.1% increase in EBITDA to Eur 5.3 million (2009: 2.7 million).

- Increase in revenues of 13.3% from Eur 37.2 million in 2009 to Eur 42.1 million in 2010.

- Improvement of the direct/indirect headcount ratio at year-end 2010 to 7.9 (at year-end 2009: 6.1).

- Increase of basic earnings per share to Eur 0.94 (2009: Eur -1.21).

- Net cash position strongly improved from Eur - 1.4 million at year-end 2009 to Eur 3.1 million at year end 2010.

- Solvency at year-end 2010 of 68.8% (at year-end 2009: 63.3%).

Thijs Manders, Chief Executive Officer of TMC Group:

"We look back very positive on 2010. The year marked a strong recovery for TMC. We exhibited strong growth in both revenues and profitability. This is the result of the dedication and resourcefulness of our people. The organisational improvements which we implemented in 2009 also contributed greatly to the results. We achieved virtually all qualitative targets. At year-end 2010 TMC is a financially sound company.

There have been changes concerning the shareholders as well. The fact that several new institutional investors, one of which is Teslin, bought into TMC, is a vote of confidence in us and our future.

All systems are go for the company to continue to perform well in 2011. Of course, we still see challenges ahead, in the construction industry and civil-engineering in particular, but we are well equipped to take on these challenges. TMC Technology represents a large part of our revenue and I foresee that we will have ample opportunity in 2011 to expand our position even further."

SUMMARY OF THE YEAR 2010

    
    RESULTS (x Eur 1,000)                          2010                 2009
 
    Revenue                                      42,094               37,151
    Growth                                         13.3%               -12.2%
    Gross profit % of the revenues                 36.3%                32.6%
    EBITDA                                        5,272                2,716
    % of the revenues                              12.5%                 7.3%
    Result from operating activities (EBIT)       4,725               -4,010
    % of the revenues                              11.2%               -10.8%
    Result for the period                         3,457               -4,740
    Growth                                        172.9%              -217.3%
    % of the revenues                               8.2%               -12.8%
 
    EMPLOYENEURS & INDIRECT PERSONNEL
    Number of employeneurs end of period            461                  387
    Average number of employeneurs                  423                  408
    Number of indirect employees end of period       58                   63
 
    SHARE INFORMATION
    Earnings per share (Eur)*                      0.94                -1.21
    Cash flow per share (Eur)**                    1.09                 0.51
    Diluted earnings per share (Eur)*              0.93                -1.21
 
    * Calculated on the average number of shares issued.
    ** Result after taxes plus depreciations, amortisation and impairment, 
    calculated on the average number of shares issued.

Financial information:

Revenues

In 2010 revenue increased by 13.3% to Eur 42.1 million in comparison with Eur 37.2 million in 2009. In the first half of 2010 we managed to keep revenue at the same level as in the corresponding period in 2009. In the second half of 2010 we managed to generate an increase in revenues in comparison to the corresponding period in 2009 of 30.4%. In November 2010 we established a record amount in revenues in the 10 years we have been in business.

The increase of revenues is primarily the result of the rise in the number of employeneurs as a result of increasing demand in combination with higher productivity. The increase was realised despite continuing pressure on the rates. Productivity rose in comparison to 2009. During 2010 a number of employeneurs was not working at commercial rates as a result of the 'Kenniswerkersregeling' and the deployment of employeneurs on risk bearing projects.

Number of employees

The number of employeneurs increased from 387 at the end of 2009 to 461 at the end of 2010, an increase of 19.1%. The average number of employeneurs increased from 408 in 2009 to 423 in 2010. This was an increase of 3.7%. The number of indirect employees was 63 at year-end 2009. At year-end 2010 it fell to 58. The ratio of direct versus indirect personnel was 7.9 at year-end 2010 (at year-end 2009: 6.1).

Gross profit

The gross profit in 2010 was Eur 15.3 million, an increase of 26.1% in comparison to the 2009 financial year. This increase is partly the result of the increase of revenue and governmental grants. Excluding governmental grants the gross profit 2010 increased by 8.4% in comparison with 2009.

Direct personnel costs increased by 7.1% in comparison with 2009. The gross profit as a percentage of revenue is 36.3% in 2010 compared to 32.6% in 2009. The gross profit as a percentage of revenue excluding governmental grants in 2010 is 28.1% compared to 29.4% in 2009.

Indirect personnel costs

Indirect personnel costs were Eur 6.9 million in 2010. In 2009 these costs were Eur 6.7 million. This increase of 3.3% is the result of several changes in costs, including the increase of bonuses for indirect personnel of around Eur 800 thousand. The indirect personnel costs have decreased due to the lower average number of indirect employees in 2010 compared to 2009, causing a decrease in indirect personnel costs of around Eur 500 thousand. Finally, the costs decreased due to lower redundancy costs for indirect employees, which were Eur 306 thousand in 2010 (2009: Eur 444 thousand). Indirect personnel costs amounted to 16.3% of revenue in 2010 (2009: 17.9%).

Other operating costs

Other operating costs were Eur 3.7 million in 2010 compared to Eur 3.3 million in 2009, excluding the impairment loss on goodwill. The increase of 11.5% was primarily the result of higher marketing costs, IT and telephone costs and audit and consultancy costs. These costs had been curbed in 2009 due to the economic crisis. Other operating costs amounted to 8.7% of revenue in 2010 (2009: 8.9%).

Operating result (EBIT)

The operating result, which was Eur 2.2 million in 2009, excluding the impairment loss on goodwill, rose by 118.9% in 2010 to Eur 4.7 million. The operating result as a percentage of the revenue was 11.2% (2009: 5.8%).

Result for the period

The result before taxation for the period was Eur 4.7 million (2009: Eur -4.2 million). The result per share increased from Eur -1.21 at year-end 2009 to Eur 0.94 at year-end 2010.

Cash flow

The cash flow from operating activities amounts to Eur 4.2 million, an increase of 41.6% in comparison with 2009 (Eur 3.0 million). The cash flow from investing activities amounts to Eur 202 thousand. The total incoming cash flow therefore amounts to Eur 4.4 million, which has partly been used to meet the repayment commitments of Eur 2.8 million. The remaining Eur 1.6 million will be used for the proposed dividend payments.

Financing

Solvency at year-end 2010 was 68.8% compared to 63.3% at year-end 2009. This increase was largely the result of the repayment on loans and the increase of equity by the addition of the results over the 2010 financial year. Due to the increase in equity, the balance sheet total also rose at year-end 2010 compared to year-end 2009. During the 2010 financial year, no external financial sources were called upon to finance operating activities. The dividend payments will not have a significant impact on TMC's financing structure.

Proposal for profit appropriation

TMC's dividend policy, determined by the General Meeting of Shareholders of TMC, is aimed at distributing a portion of the profit as dividend. In addition a portion of the distributable reserves will be set aside to finance further growth and development of the business. Dividend distributions will be proposed annually by the board of directors, subject to the supervisory board's approval, taking into account various factors including the financial results, cash requirements, growth opportunities and the financial position.

In accordance with article 24 of the statutes, TMC's board of directors proposes to the General Meeting of Shareholders to come to the decision of distribution of dividend in cash from the profits of 2010 of Eur 0.50 per share. The board of directors is of the opinion that the strong liquidity and solvency positions of the company make the proposed dividend payments possible.

Financial results TMC Technology

The market in which TMC Technology operates, showed clear signs of recovery in 2010. The results were influenced by the increasing demand for our people. Particularly within the semi-conductor industry, there was a boost in the level of activity. This resulted in an increasing demand for highly skilled specialists. The productivity of the member company Technology recovered compared to 2009. The rates remained relatively low throughout 2010 as a result of the economic crisis. Virtually all business cells contributed to the growth of the member company Technology in 2010.

Revenue rose to Eur 30.6 million in 2010. In 2009 revenue were Eur 24.5 million. This is an increase of 25.0%. The increase in revenue is largely due to the higher number of employeneurs we were able to deploy at our clients successfully. In addition, productivity increased.

The result from operating activities rose from Eur 2.6 million to Eur 4.7 million in 2010 compared to 2009, which is 15.4% (2009: 10.6%) of the revenues. In 2010 Eur 3.5 million was charged on by TMC Holding B.V. and TMC Group N.V. compared to Eur 3.1 million in 2009.

The number of employeneurs increased from 271 at year-end 2009 to 370 at year-end 2010, an increase of 36.5%. The average number of employeneurs increased from 269 in 2009 to 322 in 2010. This is an increase of 19.7%.

Financial results TMC ICT

TMC ICT experienced a period of slight recovery in 2010. The pressure on rates remained unchanged, whilst productivity increased in comparison to 2009. As a result the gross margin rose to a more acceptable level. The savings on costs which were made in 2009 also had a positive effect on the profitability in 2010, increasing the profitability of the member company.

The developments within the Healthcare sector are positive. The number of clients we serve in this sector is large and the revenue realised by TMC ICT, form a substantial part of total revenue.

Revenue remained level in 2010 and were Eur 3.8 million, both in 2009 and in 2010. Revenue in 2009, excluding the activities by TMC Dynamics Professionals B.V., which was sold on 1 July 2009, were Eur 3.4 million. Therefore revenues increased by 12.0% in 2010 compared to 2009, excluding TMC Dynamics Professionals B.V.

The results from operating activities rose in 2010 in comparison with 2009 from Eur -482 thousand to Eur 140 thousand. As a percentage of the revenues this is 3.7%, against -12.8% in 2009. In 2010 Eur 298 thousand was charged on by the holding and the N.V. In 2009 this amount was Eur 422 thousand. The results from operating activities rose as a result of a higher gross profit and a fall in indirect costs.

The number of employeneurs fell from 25 at the end of 2009 to 23 at the end of 2010. This is a decrease of 8.0%. The average number of employeneurs fell from 33 in 2009 to 24 in 2010, or 27.3%.

Financial results TMC Adapte

The market in which Adapte operates was uncertain throughout the whole of 2010. There was a drop in activities across the board, which influenced Adapte's results. Anticipating the fall in revenues, we took measures at the end of 2009 and during 2010 to adjust the cost structure. Management of Adapte by the cell structure according to the TMC model is a consequence of this. In addition the ratio between direct and indirect personnel improved during 2010 as a result of the decline in the number of indirect personnel.

In order to serve our clients better, we placed the activities of the Oil & Gas sector, which originated from the construction and civil-engineering sector, in a separate business cell. This cell is managed from the Utrecht office. It concerns one-off projects, in common with the construction and civil-engineering sector. The employeneurs are (senior) project and risk managers, civil-engineers or structural engineers.

The revenues fell from Eur 8.9 million in 2009 to Eur 7.7 million in 2010. This is a decline of 13.5%. The decline in revenues is largely due to the lower number of employeneurs.

The results from operating activities fell in 2010 in comparison with 2009 from Eur 73 thousand to Eur -138 thousand. As a percentage of the revenues this was -1.8%, against 0.8% in 2009. In 2010 Eur 1.2 million was charged on by the holding and the N.V., the same amount as in 2009. The charge-ons by TMC Holding B.V. and the TMC Group N.V. are based on a budgeted estimate of the average number of indirect personnel at the start of the financial year. The indirect personnel costs include Eur 256 thousand (2009: Eur 20 thousand) of redundancy costs. The rise in redundancy costs is the result of restructuring and improvement of the ratio direct / indirect, which was implemented within Adapte Construction and Civil Engineering in 2010.

The number of employeneurs fell from 91 at the end of 2009 to 68 at the end of 2010, a fall of 25.3%.

The average number of employeneurs fell from 106 in 2009 to 77 in 2010, or 27.3%.

Outlook TMC Group

The financial results in the second half of 2010 improved greatly compared to the same period in 2009 and also compared to the first half of 2010, partly as a result of developments in the technology sector. We are optimistic about the short term outlook.

The prognosis for the activities in the construction and civil-engineering sector is based on the expectations of the Economic Institute for the Construction Industry (EIB). 'After two years with a total production loss of 15% in the Construction industry, we appear to have reached the lowest point. The total production in construction is expected to grow by 1% this year and this is mainly due to the recovery in residential building. Both the non-residential building and the ground and water works and road engineering still exhibit a modest contraction. These sectors are experiencing the consequences of cut backs by governing bodies. In the non-residential building sector the overcapacity of office space will also put growth over the coming years under pressure. As of 2012 construction shows a strong recovery. All this must, of course, be viewed against the backdrop of a production level which will initially remain low. (Source: EIB, 'Expectations of production in construction and employment 2011').

The IT market is expected to grow by 2.0% in 2011. Last year growth was 1.1%. The trend of recovery appears to be continuing. (source: sector organisation ICT~Office).

At the end of 2010 TMC is in a financially sound position and the ratios are solid. At the same time, we expect the pressure on rates to decline, but not to recover to the level they were before the economic crisis. Nevertheless we begin 2011 with a relatively high number of billable employeneurs as a result of the termination of the 'Kenniswerkersregeling'. In 2011 we will also invest in marketing activities and training of our people through the TMC Academy. In 2011 we shall follow our strategy by growing from the existing business cells. The emphasis will be on recruiting new clients in new regions and further expansion of our presence in all the sectors we operate in.

TMC does not intend to make any significant investments in 2011. In order to be able to realise the expected rise in the number of employeneurs, we foresee a rise in the number of indirect employees.

Taking the aforementioned market developments and the (financial) starting point at the year-end 2010 into consideration, we begin 2011 with great confidence.

Financial statements

The financial information is based on International Financial Reporting Standards, as adopted within the European Union (EU-IFRS). The information included in the appendices 2 through to 5 is taken from the audited 2010 financial statements of TMC Group N.V., for which an unqualified independent auditor's report has been issued. The entire financial statements will be available on the TMC Group website as of 22 March 2011. The 2010 financial statements have yet to be approved by the General Meeting of Shareholders, which will be held on 20 April 2011.

Forward-looking statements

This press release contains a number of forward-looking statements. These statements are based on current expectations, estimates and prognoses by management and the information available to the company at the present time. The statements are subject to certain risks and uncertainties which are difficult to assess. Therefore TMC Group accepts no obligation to update the statements made in this press release.

Financial calendar:

    
    - 20 April 2011 General Meeting of Shareholders
    - 26 April 2011 Ex-dividend date
    - 28 April 2011 Registration date dividend right
    - 10 May 2011 Passing for payment dividend
    - 23 August 2011 Publication half-year figures 2011
    - 20 March 2012 Publication annual report 2011
    - 18 April 2012 General Meeting of Shareholders

Mnemo : ALTMC

ISIN : NL0000290997

http://www.tmc.nl

TMC GROUP

TMC deploys highly skilled professionals in technical environments. We distinguish ourselves by supplying rare competencies needed for the development of complex products and projects. Our focus lies with projects of vital importance to our clients. In addition we contribute to the project continuity and flexibility of our clients and we are able to supply them continually with strategic knowledge. We work for clients who are specialised in high-tech, R&D, ICT en construction & civil-engineering.

TMC manages to bind the right specialists to the company, with the employeneurship model, which combines employment and entrepreneurship in a new working relationship.

Employeneurship: the business model of the 21st century!

The driving force behind TMC Group is our distinctive and proven business model. This business model, the so-called employeneurship model, is based on the entrepreneurship of our direct (employeneurs) and indirect employees. The model features the following five principles:

- Long-term employment relationship

- Individual profit sharing

- 1-on-1 career coaching

- Specialised business cells

- Entrepreneurial lab

This unique employeneurship enables us to bind enterprising professionals to our company who are frequently deployed by our clients to the most vital and critical projects.

Appendices:

1) Key figures

2) Consolidated statement of comprehensive income

3) Consolidated statement of financial position

4) Consolidated statement of cash flows

5) Segment Reporting

6) Multi-year overview

Appendix 1: Key figures

    
    RESULTS (x Eur 1,000)                               2010           2009
 
    Revenues                                          42,094         37,151
    Growth                                              13.3%         -12.2%
    Gross profit                                      15,274         12,109
    % of the revenues                                   36.3%          32.6%
    Result from operating activities before 
    depreciation, amortisation and impairment (EBITDA) 5,272          2,716
    % of the revenues                                   12.5%           7.3%
    Result from operating activities (EBIT)            4,725         -4,010
    % of the revenues                                   11.2%         -10.8%
    Result for the period                              3,457         -4,740
    Growth                                             172.9%        -217.3%
    % of the revenues                                    8.2%         -12.8%
    Total cash flow                                    1,582           -298
 
    BALANCE SHEET DATA (x Eur 1,000)
    Shareholders' equity                              18,607         15,068
    Balance sheet total                               27,038         23,803
 
    EMPLOYENEURS & INDIRECT PERSONNEL
    Number of employeneurs end of period                 461            387
    Average number of employeneurs                       423            408
    Number of indirect employees end of period            58             63
 
    SHARE INFORMATION
    Number of shares issued at year-end            3,314,845      3,314,845
    Number of shares in issue and shares issued A 
    (convertible shares)                             372,921              -
    Number of convertible shares at acquisition - 
    fixed purchase price portion                           -        311,127
    Basic earnings per share (Eur) *                    0.94          -1.21
    Cash flow per share (Eur) **                        1.09           0.51
    Number of convertible shares at acquisition - 
    variable purchase price portion                        -         61,794
    Diluted earnings per share (Eur)*                   0.93          -1.21
    Market capitalisation at end of period (x Eur 1,000) 
    (excluding convertible shares)                    31,491         24,861
    Highest closing price (Eur)                         9.50          10.37
    Lowest closing price (Eur)                          6.25           4.80
    Closing price at year end (Eur)                     9.50           7.50
 
    * Calculated on the average number of shares in issue.
    ** Result after taxes plus depreciations, amortisation and impairment, 
    calculated on the average number of shares in issue.




    Appendix 2: Consolidated statement of comprehensive income
 
    Amounts x Eur 1,000                                       2010      2009
 
    Revenues                                                42,094    37,151
 
    Direct personnel costs                                 -26,820   -25,042
    Gross profit                                            15,274    12,109
 
    Indirect personnel costs                                -6,868    -6,650
    Other operating costs                                   -3,681    -9,469
    Result from operating activities (EBIT)                  4,725    -4,010
 
    Finance income                                              42        48
    Finance costs                                              -79      -218
    Result before income tax                                 4,688    -4,180
 
    Income tax expense                                      -1,231      -560
    Result for the period                                    3,457    -4,740
 
    Result attributable to:
    Owners of the company                                    3,457    -4,740
    Non controlling interest                                     -         -
    Result for the period                                    3,457    -4,740
 
    Earnings per share (Eur)
    Basic earnings per ordinary share*                        0.94     -1.21
    Diluted earnings per ordinary share*                      0.93     -1.21
 
    * Calculated on the average number of shares in issue.



    Appendix 3: Consolidated statement of financial position
    (before profit appropriation)

    Amounts x Eur 1,000                                        2010     2009
 
    ASSETS
 
    Tangible fixed assets                                       717      927
    Intangible assets                                        11,004   11,298
    Trade and other receivables                                 649      852
    Total non-current assets                                 12,370   13,077
 
    Trade and other receivables                              10,548    6,466
    Current tax assets                                            -        6
    Other taxes and social security premiums                    178        -
    Other current assets                                        535    2,429
    Cash and cash equivalents                                 3,407    1,825
    Total current assets                                     14,668   10,726
 
    TOTAL ASSETS                                             27,038   23,803


 
    Amounts x Eur 1,000                                        2010     2009
 
    EQUITY
 
    Share capital                                               315      315
    Share premium                                            14,439   14,439
    Reserves                                                 -1,995   -1,995
    Retained earnings                                         5,848    2,309
    Total equity attributable to shareholders of the Company 18,607   15,068
 
    LIABILITIES
 
    Loans and borrowings                                          -      338
    Deferred tax liabilities                                    487      562
    Total non-current liabilities                               487      900
 
    Loans and borrowings                                        338    2,844
    Trade and other payables                                    918      506
    Tax liabilities                                             196        -
    Other taxes and social security premiums                  2,847    2,269
    Other liabilities and accruals                            3,645    2,216
    Total current liabilities                                 7,944    7,835
 
    TOTAL EQUITY AND LIABILITIES                             27,038   23,803



    Appendix 4: Consolidated statement of cash flows
 
    Amounts x Eur 1,000                                      2010     2009
 
    Result for the period                                   3,457   -4,740
    Adjustments for:
    Depreciation                                              253      263
    Amortisation of intangible assets                         294      294
    Impairment losses on intangible assets                      -    6,169
    Net finance costs                                          37      170
    Equity-settled share-based payment transactions            82        -
    Income tax expense                                      1,231      560
                                                            5,354    2,716
 
    Change in trade and other receivables                  -4,082    1,930
    Change in other current assets                          1,894       69
    Change in trade and other payables                        412     -285
    Change in other taxes and social security premiums        400      170
    Change in other liabilities and accruals                1,429     -494
                                                            5,407    4,106
 
    Interest paid                                             -79     -218
    Income tax paid                                        -1,104     -904
    Net cash from operating activities                      4,224    2,984
 
    Interest received                                          42       48
    Acquisition of tangible fixed assets (minus disposals)    -43      -45
    Loans granted                                             203      118
    Net cash from investing activities                        202      121
 
    Dividends paid                                              -   -1,575
    Repurchase of own shares                                    -   -1,995
    Proceeds from loans                                         5    2,097
    Repayment of borrowings                                -2,849   -1,930
    Net cash used in financing activities                  -2,844   -3,403
 
    Cash flow during the period                             1,582     -298
 
    Cash and cash equivalents at 1 January                  1,825    2,123
    Cash flow during the period                             1,582     -298
    Cash and cash equivalents at 31 December                3,407    1,825

     

    Appendix 5: Segment Reporting
 
    INFORMATION BY SEGMENT
    Amounts x Eur 1,000                                        2010    2009
 
    TMC Technology                                           30,626  24,501
    TMC ICT                                                   3,781   3,761
    Adapte Construction & Civil Engineering                   7,687   8,883
    Other                                                         -       6
    Revenues                                                 42,094  37,151
 
    TMC Technology                                            4,723   2,606
    TMC ICT                                                     140    -482
    Adapte Construction & Civil Engineering                    -138      73
    Other                                                         -  -6,207
    Result from operating activities (EBIT)                   4,725  -4,010
 
    Finance income and expense                                  -37    -170
    Income tax expense                                       -1,231    -560
    Result for the period                                     3,457  -4,740

 
    Amounts x Eur 1,000                                        2010    2009
 
    TMC Technology                                           10,314   7,141
    TMC ICT                                                   1,060     937
    Adapte Construction & Civil Engineering                   1,530   2,052
    Other                                                    14,134  13,673
    Assets                                                   27,038  23,803
 
    TMC Technology                                            4,905   2,815
    TMC ICT                                                     637     481
    Adapte Construction & Civil Engineering                     869     967
    Other                                                     2,020   4,472
    Liabilities                                               8,431   8,735
 
    TMC Technology                                                -       -
    TMC ICT                                                       -       -
    Adapte Construction & Civil Engineering                       -      25
    Other                                                        43      45
    Investments                                                  43      70
 
    TMC Technology                                                -       -
    TMC ICT                                                       -       -
    Adapte Construction & Civil Engineering                      52      41
    Other                                                       495   6,685
    Depreciations, amortisation and impairment losses 
    intangible assets                                           547   6,726


    Appendix 6: Multi-year overview

    Amounts x Eur 1,000                         2010    2009    2008   2007*    
 
    Revenues                                  42,094  37,151  42,336  27,355  
    Growth                                      13.3%  -12.2%   54.8%   94.7% 
 
    Gross profit                              15,274  12,109  14,302  10,111 
    % of the revenues                           36.3%   32.6%   33.8%   37.0% 
 
    Operating result before depreciation,
    amortisation and impairment (EBITDA)       5,272   2,716   6,137   5,136  
    % of the revenues                           12.5%    7.3%   14.5%   18.8%  
 
    Operating result (EBIT)                    4,725  -4,010   5,612   4,877  
     % of the revenues                          11.2%  -10.8%   13.3%   17.8%  
 
    Result for the period                      3,457  -4,740   4,040   3,561  
    % of the revenues                            8.2%  -12.8%    9.5%   13.0%  
 
    Cash flow                                  1,582    -298     -68  -2,808 
 
    Balance sheet (x Eur 1,000)
    Trade and other receivables               10,548   6,466   8,396   5,779  
    Equity                                    18,607  15,068  23,378  19,511   
    Liabilities                                8,431   8,735   9,515  11,179   
    Total equity & liabilities                27,038  23,803  32,893  30,690  
 
    Employees
    Number of employeneurs at 31 December        461     387     460     384    
    Number of indirect employees at 31 December  
                                                  58      63      76      56    
    Ratio direct / indirect                      7.9     6.1     6.1     6.9   

    (table continued)


    Amounts x Eur 1,000                           2006   2005   2004   2003
 
    Revenues                                    14,050  6,100  3,719  2,874
    Growth                                       130.3%  64.0%  29.4%  -0.8%
 
    Gross profit                                 4,814  2,099  1,374  1,070
    % of the revenues                             34.3%  34.4%  36.9%  37.2%
 
   Operating result before depreciation,     
    amortisation and impairment (EBITDA)         2,853    977    525     81
    % of the revenues                             20.3%  16.0%  14.1%   2.8%
 
    Operating result (EBIT)                      2,827    970    520     79
    % of the revenues                             20.1%  15.9%  14.0%   2.7%
 
    Result for the period                        1,913    637    300     34
    % of the revenues                             13.6%  10.4%   8.1%   1.2%
 
    Cash flow                                    4,717      1    230    193
 
    Balance sheet (x Eur 1,000)                       
    Trade and other receivables                  3,469  1,420    820    428
    Equity                                       6,804    490     73    -51
    Liabilities                                  3,220  1,829  1,370    803
    Total equity & liabilities                  10,024  2,319  1,443    752
 
    Employees
    Number of employeneurs at 31 December          175     70     33     23
    Number of indirect employees at 31 December     21     14      9      4 
    Ratio direct / indirect                        8.3    5.0    3.7    5.8 
 
    * Including takeover of Adapte as of 1 July 2007.

PRN NLD

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.