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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Royal BAM Group N.V.    BAMNB   NL0000337319

ROYAL BAM GROUP N.V.

(BAMNB)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 11/25 04:06:15 am
1.975 EUR   -8.31%
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Royal BAM N : History in the re-making as BAM is asked to bring new life to Bath's quayside heritage

10/02/2020 | 02:30am EST
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Bath, 1 October 2020 - TCN has appointed BAM Construction to breathe new life into an historic landmark in Bath. The £7m contract for the development of Newark Works, is part of the Bath Quays South, which BAM is already delivering next door (valued separately at over £21 million). Newark Works was the old home of one of Bath's most famous industrial firms - Stothert and Pitt.

The contract covers the full refurbishment of the historic buildings including new roof structures, replacement windows, and full internal reconfiguration to create 40,000 sq ft of workspace with ancillary retail and leisure facilities.

When this is completed it will provide a creative campus with a mix of units to suit 40-50 small and medium size companies. Along with individual units there will be a range of meeting areas, break out facilities, and amenities to engender a collaborative and inspiring environment.

The 16-month build programme has just commenced and it is scheduled to be completed and ready for businesses to move in by December 2021.

BAM's Construction Director, Neil Dorrington, said:
'BAM are already instrumental in the regeneration of Bath South Quays as a whole. Current work includes a new office block (No1 Bath Quays), flood defences and foundations for the new pedestrian footbridge. The latter will link Bath South Quays to the recently upgraded North Bank and the future Bath Quays North redevelopment. As Newark Works abuts our existing scheme we are delighted to assist in breathing new life into them. The new scheme involves refurbishing the old Newark Works building, which is a difficult site, with dilapidated buildings, sensitive planning and conservation issues.

We will create new floors and roofs, install lifts and rejuvenate the four buildings, two of which are listed. Although we use digital construction techniques to create modern buildings such as off-site manufacture and assembly, drone surveys and more, as a firm that has traded for over 150 years we understand the significance of such historic buildings and can also bring to it the sensitivity that is requires.'

Richard Pearce, CEO of TCN, said: 'Newark Works will once again be the entrepreneurial pride of Bath. We are delighted to have reached this point and welcome BAM on board to help us deliver our vision.'

Historic England recognises how iconic Newark Works is, stating on its website: 'The Newark Works are the last surviving historic works of Stothert & Pitt Ltd, 'cranemakers to the world', an internationally renowned firm which was founded in Bath. Cranes produced by the company survive throughout the World, particularly within the former Empire. Stothert & Pitt Ltd had its origins in George Stothert's (1755-1818) ironmongery business in 1785. As the firm of Stothert & Pitt became established it developed a reputation for heavy engineering, particularly the designing and construction of dockside and offshore cranes.'

It adds: 'Stothert & Pitt closed in January 1989, bringing to an end a celebrated commercial enterprise which was a major employer in Bath.'

A key part of Bath's Enterprise Zone, Bath Quays South will offer spaces for the digital, technology and creative companies who can deliver the right type of jobs for Bath's economic future.

Disclaimer

Royal BAM Group NV published this content on 02 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 October 2020 06:29:07 UTC


© Publicnow 2020
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Financials
Sales 2020 6 454 M 7 686 M 7 686 M
Net income 2020 -90,9 M -108 M -108 M
Net cash 2020 218 M 260 M 260 M
P/E ratio 2020 -8,62x
Yield 2020 -
Capitalization 589 M 699 M 701 M
EV / Sales 2020 0,06x
EV / Sales 2021 0,05x
Nbr of Employees 19 517
Free-Float 94,8%
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 1,66 €
Last Close Price 2,15 €
Spread / Highest target 0,74%
Spread / Average Target -23,2%
Spread / Lowest Target -44,3%
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Managers
NameTitle
Ruud Joosten Chief Executive Officer
Henk Th. E. M. Rottinghuis Chairman-Supervisory Board
Frans den Houter Chief Financial Officer
Henry M. M. van de Ven Chief Information Officer
Carla M. C. Mahieu Member-Supervisory Board
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