This relates to contracts for the 'Elbarkaden' project in Hamburg (including the new head office of Greenpeace), and the new 'Main Gate Porta' office project in Frankfurt am Main.
Gold for Green:
The Hamburg building received a Gold pre-certification in accordance with German Sustainable Building Council (DGNB) standards. The building in Frankfurt undercuts the German Energy Savings Regulation (EnEV) by 25%.
This is about more than just replacing a few light bulbs by LEDs:
The DGNB certification system covers >50 criteria re ecology, economy and technology and processes. The Gold certificate is awarded if all aspects are fulfilled to an outstanding standard. In the 'Elbarkaden' project in Hamburg Imtech is commissioned to realize the entire energy and technology concept based on Imtech's own ‘Active Building’ concept. The goal of this concept is to emit just 34 grams of CO2 per generated kilowatt hour. Hence, the primary energy requirement will be significantly below 100 kWh per m2 per year. To realize this, a large number of innovations are implemented, such as: high energy heat recovery, waste heat usage, cold recovery, thermal storage, special pumping technology, renewable energy (photovoltaics, wind power on the roof, geothermal systems, solar power, biomass) and the use of low-emission materials. Smart building automation allows for an integrated energy approach. Water is used as a resource by use of rain water, water-saving equipment and fittings and more. The property will generate around 1/3 surplus energy, which can be fed into the grid. In the 'Main Gate Porta' office project in Frankfurt Imtech is responsible for the complete sustainable technical infrastructure, incl. hidden heating, ventilation and air conditioning solutions in high-tech ceilings with energy-efficient integrated heating and cooling systems. Beside this, Imtech takes care of all electrical solutions, all water and LED lighting solutions, and complete security and fire safety. An innovative building management system manages all mechanical processes, substantially increasing the building's energy efficiency and resulting in an exemplary low carbon footprint. Besides the complextechnology infrastructure individual temperature control can be adjusted in each office and all windows can be opened allowing fresh air to come in.
We estimate DSO and DPO to be in a range of 75-85 days:
Our estimate is based on the average range of DSO and DPO for the German operations.
Order intake YTD:
The (multi-year adjusted) order intake as announced via press releases stands at € 1,452, vs. € 1,624m in Nov-11 and € 888m in Nov-11. The y/y comparison should be ignored as large orders represent 20-25% of the business, and many press releases involve a combination of smaller orders. The 3Q12 backlog, which was up 12% y/y, is a more reliable indicator.
Positive for backlog, no impact on estimates.