BAM 2019H1: adjusted pre-tax loss of €27.2m; FY 2019 margin outlook of around 1% confirmed
August 22, 2019 at 01:48 am EDT
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As announced on 8 July, results were impacted by higher costs on a civil project and construction projects in Germany, and a BAM International project. The total impact is €94m.
Construction and Property: strong performance in the Netherlands and UK, offset by project losses in Germany and International
Civil engineering: negative result includes additional loss of €7.5m at OpenIJ project in 2019H1
PPP: strong performance and two new projects (one financial close and one preferred bidder)
Order book: stable compared to 2018 due to focus on quality over volume
Strong cash position with trade working capital efficiency at -9.1%
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Royal BAM Group NV published this content on 22 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2019 05:47:02 UTC
Royal BAM Group N.V. is a building and public works group. Net sales break down by activity as follows:
- buildings and civil engineering infrastructure construction (88.3%): roads, highways, airports, tunnels, railways, residences, hospitals, schools, offices, businesses, etc. The group also develops subcontracted mechanical and electrical installations implementation activity;
- real estate development (8.7%);
- other (3%).
Net sales are distributed geographically as follows: the Netherlands (47.9%), the United Kingdom (42.7%), Ireland (7.4%), Belgium (1.9%) and other (0.1%).