Download PDF version English(2664KB) - Hamon

Part 2 - Review by Business Unit
45
■ Hamon D’Hondt, located near Valenciennes (France)
represents the major part of the activities of this
business unit. It is in charge of the design, marketing
& promotion, manufacturing, and after-sales service of
air coolers as well as the manufacturing of welded
steel finned tubes. Hamon D’Hondt also owns 40%
of a joint venture in Jubail in Saudi Arabia, Hamon
D’Hondt Middle East, specializing in the manufacturing
of air coolers for the Persian Gulf market.
■ ACS Anti Corrosion Structure, located in Seneffe
(Belgium). This subsidiary manufactures FRP components
(Fiberglass Reinforced Polyester) like ducts for
flue gas exhaust or acid-proof storage tanks, both in
its plant and on-site. This subsidiary was integrated to
this business unit end of 2010.
■ Hamon D’Hondt BHI, the new joint venture created
mid-2010 with the Korean company BHI. It will focus
on aircoolers for South Korean engineering companies
active in South Korea and on the export market.
Let us mention that Brown Fintube France, which was
part of this business unit, was sold end of June 2010
(see section Review of the year 2010).
The creation of the joint venture with BHI (South Korea)
should allow Hamon to benefit from the successes of
the Korean EPC contractors in the Gulf markets.
Good performance in projects management generated
an EBIT of EUR 2,9 million. This EBIT excludes the
profit on the disposal of BFT, reported under the
unallocated segment, but includes the result from
operations of BFT up to 30 June 2010.
With effect on 31 December 2010, ACS, a small
manufacturing activity based in Seneffe (Belgium) has
been incorporated in the Process Heat Exchangers BU
(previously unallocated).
Prospects for 2011
The activities of this business unit should remain at a
good level in 2011 thanks to its well filled backlog as of
end 2010, to its strong commercial activities early 2011
and to its developments in Korea.
Key figures
in EUR million 2010 2009
New order bookings 43,1 55,6
Revenue 41,9 54,4
Backlog on 31/12 50,7 38,4
EBIT 2,9 5,3
EBIT / revenue 6,9% 9,7%
Average headcount 161 174
Note: the 2010 figures include BFT only till 30 June, date at
which it was sold.
2010 results
New bookings and sales reflect lower material cost
passed through to customers and slow pace of capex
of the Oil & Gas companies during the first half year of
2010.
Among the main new orders let us mention the one
for seven air coolers in Brazil, for the Itaborai new
petrochemical plant. Hamon D’Hondt steps into the
Brazilian market; this market offers very promising
prospects thanks to the important development of its
oil& gas and petrochemical industries.