Posted on November 28, 2022
Following DredgeWire’s reporting on various financial issues at Royal IHC, the Netherlands’ leading financial newspaper FD has now weighed in with its own story.
See: https://fd.nl/bedrijfsleven/1458784/overheid-voor-100-mln-geraakt-bij-reddingsactie-voor-ihc
Key points of the FD story include:
– the Dutch government has recorded a €100 million loss on export credit guarantees
– the €100mm was part of the government’s €300 million contribution to IHC’s 2020 €400+ million bail out
– Royal IHC is still “in serious trouble” because “turnover is well below expectations.”
As previously reported on DredgeWire and elsewhere, Royal IHC has announced additional staff reductions of 250 and plans to sell its IQIP subsidiary to improve liquidity.
