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BAM reports 281 million adjusted EBITDA in first nine months, reiterates 2022 outlook

Royal BAM Group nv reports for the first nine months of 2022 an adjusted EBITDA of 281 million, including a non-operational book profit of 52 million on the Wayss & Freytag transaction which was completed in September. BAM's operational performance in the third quarter was held back by inflation and supply chain constraints. The cash position remains solid and the capital ratio improved to over 21 per cent. BAM reiterates its outlook to deliver an adjusted EBITDA margin of at least 4 per cent for the full-year 2022, excluding the result on the Wayss & Freytag divestment. BAM expects to propose a dividend over 2022.

Revenue increased in first nine months by 3% in Netherlands, United Kingdom and Ireland; total revenue declined by 8% to 4.9 billion due to divestments;
Adjusted EBITDA of 281 million in first nine months (adjusted EBITDA margin of 5.7%); adjusted EBITDA margin excluding 52 million book profit on Wayss & Freytag was 4.7%;
Adjusted EBITDA of 99 million in third quarter, including result on Wayss & Freytag transaction;
Solid order book of 10.0 billion (H1: 12.2 billion), reduced by 1.2 billion due to divestment Ways & Freytag and 600 million in UK highways, mainly following government review of regional roads development programme;
Liquidity position of 0.9 billion, capital ratio improved to 21.1% (mid-year 2022: 17.7%).

Royal BAM Group nv designs, builds and maintains high quality, sustainable buildings, homes, and infrastructure for public and private sector clients. Using the latest industry innovations, our 13, 50 employees reduce the carbon footprint of the built environment, whilst delivering increased well-being and social value to the communities we serve. The Group supports clients through two main divisions (Netherlands, and United Kingdom and Ireland) and a PPP business. Royal BAM Group nv is listed on the Amsterdam Euronext exchange. Building a sustainable tomorrow.

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