Arcadis NV (ARCAY.PK)
Latest Key Developments (Source: Significant Developments)
ARCADIS NV:Dutch engineering firm Arcadis said on Thursday an internal investigation into its role in a Brazilian water management project had found no evidence of any wrongdoing - RTRS.In December, the company said it was cooperating with Brazilian police as part of an investigation into suspected misuse of funds at a $6.4 billion water management project in northern Brazil.It was never clear whether the company itself was a target of the Brazilian government's investigation, which has named other suspects, but the government investigation is continuing.At the time, the news led to a major sell-off in Arcadis shares. On Thursday, Arcadis said it had widened its own investigation to look at how it handles several other Brazilian projects. Full Article
ARCADIS NV:In 2016 sees improving EBITA, and generating a strong free cash flow.FY 2015 dividend proposal of 0.63 euro per share.For 2016, expects continued tough conditions in emerging markets.More favorable conditions exist in a number of our end markets including UK, continental Europe and Australia.On Brazil investigation "we have not received any further requests for information and our internal assessment continues". Full Article
ARCADIS NV:Says appointed to WestConnex New M5 project in Sydney, Australia, in association with Australian firms APP and SMEC.The Arcadis fee for project will be in excess of 34 million Australian dollars over 3 years.It is expected to open to traffic in late 2019. Full Article
ARCADIS NV:Mille Arbres project, submitted by the company and its partners, has been selected by the city of Paris as part of the "Reinventing Paris/Réinventer Paris" campaign for the development of the Pershing district located near the Porte Maillot. Full Article
ARCADIS NV:Outlook for FY 2015 net income from operations adjusted from a previously expected approximate 20 pct increase to approximately 10 pct compared to 2014. Full Article
AMSTERDAM The chief executive of Arcadis stepped down on Thursday over what the board called a difference of opinion about the Dutch engineering firm's future following a sharp fall in earnings.