BAM Ireland, Leading Civil Engineering, Building and Property Development Company

Royal BAM Group nv meets its financial outlook for 2022, delivering adjusted EBITDA margin of 4.5 per cent excluding the positive result on the Wayss & Freytag Ingenieurbau transaction. The capital ratio further improved to 21.2 per cent. BAM confirms its earlier announced expectation to pay a dividend over the year 2022 and proposes €0.15 per share. BAM is in good shape to benefit from its strong market positions and structural growth opportunities. Despite the headwinds created by the uncertain macro-economic and geopolitical situation, the Group remains on track with the execution of its strategy and is aiming to deliver a performance towards the 2023 strategic targets. 

 

• Revenue in Netherlands, United Kingdom and Ireland increased by 2%; total revenue declined by 10% to €6.6 billion due to divestments in Belgium and Germany;
• Adjusted EBITDA of €350 million (adjusted EBITDA margin of 5.3%); adjusted EBITDA margin excluding €52 million book profit on Wayss & Freytag was 4.5%;
• Good contribution Dutch residential and further recovery in Dutch civil engineering; in second half-year increased impact of inflation, supply chain issues and project delays on Group result;
• Net result of €180 million (2021: €18 million), reflecting earnings per share of €0.66 (2021: €0.07);
• Liquidity position strong at €0.8 billion, after full repayment of Covid-19 deferred VAT and salary tax payments and effect of divestments; revolving credit facility extended to 2026, now also linked to sustainability targets;
• Capital ratio further improved to 21.2% (year-end 2021: 14.5%);
• Solid order book of €10.0 billion (2021: €13.2 billion), reduced mainly due to divestments (€2.1 billion), UK government review of regional roads development programme (€0.6 billion) and negative impact of exchange rate (€0.3 billion).

 

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