ABO-Group expands in the Netherlands

Ghent, 16 June 2016 - 15.30 hrs - Press release / regulated information

ABO-Group is expanding its geotechnical activities through the acquisition of Geomet, a Dutch expert in geotechnical advice and penetration tests. This now confirms geotechnology as the Core Business of ABO-Group in Europe.

In 2008, ABO-Group took its first steps in the geotechnical market in the Netherlands with the takeover of Goorbergh Geotechniek. Now comes a giant leap ahead through the acquisition of Geomet, a geotechnical advice and fieldwork agency with 20 employees based in Alphen aan den Rijn. By combining forces, ABO-Group expects to be able to exploit market opportunities in the Netherlands and beyond with greater strength. Its strong references and Geomet's geotechnical expertise will contribute towards the market offering of the ABO-Group activities.

ABO-Group is deliberately opting for the Dutch market. Following several crisis years, there have been clear signs of recovery since 2015. Expectations are positive for the next few years too. Frank De Palmenaer, CEO ABO-Group: "Following several years of depression, the revival is only now starting to be noticeable and so it is the ideal time to strengthen our position in the Netherlands. This acquisition enables us to expand our presence in the Netherlands providing high-end geotechnical services. With the combined expertise, in addition to fieldwork, we are now able to offer geotechnical advice in the most complex of cases, just as we have been able to in our two other home countries of Belgium and France for some time now."

Geotechnology, which accounts for approximately 50% of the consolidated group turnover, has already represented a core activity for ABO-Group for years. In France, the group active in geotechnology with approximately 100 employees, spread across offices in Toulon, Marseilles, Nice, Montpellier, Lyons, Paris, Nancy and Lille. In Belgium, the geotechnical activities are performed under the brand name Geosonda through offices in Ghent, Aartselaar, Brussels, Hasselt and Namêche.

At the financial level, in the 2015 financial year, Geomet achieved a consolidated turnover of 2.6 million euro and an operating cash flow (EBITDA) of 380,000 euro. The acquisition sum is 1.4 million euro, including takeover of 1 million euro in financial debts from the bank. Besides the operational working companies, the acquisition also comprises the business premises. The transaction is subject to reserve of rounding off, predicted for early July. No significant impact is expected on the first six months' results.

ABO-Group divides its geotechnical activities into, on the one hand, Consultancy & Engineering (= advice) and, on the other, Testing & Monitoring (= fieldwork). The advice part is accommodated with Geomet. The geotechnical field work of Geomet and Goorbergh Geotechniek (subsidiary of ABO-Group) is centralised and will be named Geosonda. The environmental and archaeological fieldwork remains the domain of Sialtech. In the areas of advice and fieldwork, these subsidiary companies of ABO-Group will combine forces in order to optimise their service provision.
  
The acquisition facilitates further collaboration and cross-pollination between the geotechnical companies in France, Belgium and the Netherlands. Geomet's strong knowledge and quality-driven corporate culture fits in closely with the ABO-Group style. Geotechnical knowledge will be further shared and used in all domestic markets so that customers are able to call on a broader palette of high-grade services. An additional benefit is that geotechnology is not bound by local legislation, so that it is easy to collaborate across borders.

WHat is geotechnOLOGY?
Geotechnology is the study of the soil, with the aim of mapping the bearing strength of the subsoil in order to be able to determine the correct foundation technique and then build in and on the soil. This activity forms one of the spearheads of ABO-Group, having accumulated a great expertise both in hard rocky soils (e.g. France), and in soft soils (Belgium/Netherlands). Various work teams and experts work daily on soil-mechanical land surveys by means of soundings and with the advice about foundation techniques and soil mechanics.

ABOUT ABO-Group
ABO-Group is a collection of integrated Engineering & Testing undertakings operating in soil, the environment, geotechnology, energy and waste management. ABO-Group has the ambition to make its sales larger through internal growth and acquisitions and to expand its palette of activities inside and outside Europe. For a more comprehensive description of the group's activities, please refer to the stock exchange listing document of ABO-Group, issued on 31 July 2014 and available on the ABO-Group website (www.abo-group.eu).

For mORE information:

Frank De Palmenaer                                                                     Johan Reybroeck
CEO ABO-Group Environment NV                                           CFO ABO-Group Environment NV
[e-mail]                                       [e-mail]

T [phone]

Derbystraat 255, Maaltecenter Blok G, B-9051 Ghent (SDW), Belgium

This press release is available on our website www.abo-group.eu

ABO expands in the Netherlands

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Source: ABO-Group via Globenewswire

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