M&E specialist Imtech plunges into a £ 27m loss

The losses forced the French parent company to pay € 30 million.

In 2020, the group, which employs over 2,800 people, had sales declined 4% to £ 443 million.

To support employees on leave, Imtech received £ 3 million in aid from the Covid job retention program.

Chief Executive Gautier Jacob, who took over from founder Paul Kavanagh in late 2020, said: “The UK engineering business suffered a number of significant project losses during the year due to the poor performance of a limited number of projects in the housing sector carried out by the Pandemic were negatively affected. “

The Central Region made a profit across the major engineering services sector, with North, London and South falling into the red.

In London projects, productivity dropped to just 30% at the height of the pandemic due to tight working conditions.

The engineering services business has been reorganized after thorough scrutiny with 50 downsizing in a single business unit at a cost of around £ 2 million.

Jacob said, “We have merged the management and operational structures to create a more coherent customer offering.”

A sharp spike in new orders in the final quarter of 2020 resulted in a closed order book of $ 538 million.

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 the National Manufacturing Institute Scotland in Glasgow and its work portfolio for parent company EDF in the nuclear sector.

Divisional sales 2020 (2019)

  • Engineering services £ 298m (£ 359m)
  • Technical FM £ 79m (£ 69m)
  • Systems integration £ 31m (£ 33m)
  • Energy services £ 34m (-)

Imtech companies Inviron and Capula both celebrated profits with new and existing customers in the first half of 2021.

Inviron secured and mobilized two long-term NHS contracts in the Southeast valued at around £ 18 million and complemented its work in the Houses of Parliament by being appointed to the MEPFS framework, which also opens up opportunities for the broader group.

Building on a 25 year relationship, Capula has been selected as the strategic supplier for a five year framework to assist National Grid in delivering the UK’s future energy transmission systems.

Jacob said: “I am incredibly pleased that we can report an exceptional start in the first half of the year

“Looking to the future, we see many opportunities in the pipeline and expect a further upswing in the industry and in the economy.

“Not only do we have a very strong forward order book, but we continue to focus on our strategy to achieve growth in our target sectors including the public sector, technology and industry.”

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