BAM reports third quarter adjusted EBITDA of €66 million, outlook reiterated

4 November 2021 07:15 - Royal BAM Group nv
BAM reports third quarter adjusted EBITDA of €66 million, outlook reiterated

First nine months 2021 trading update

Royal BAM Group nv reports for the first nine months of 2021 an adjusted EBITDA of €223 million versus an adjusted EBITDA of €38 million in the same period of 2020. In the third quarter there was a strong performance from Dutch Construction and Property, and a satisfactory contribution from most other activities. The large contracts division of Dutch Civil engineering continues to underperform. The order book of €13.5 billion remains high. BAM is making good progress with its new strategy: a continued focus on rebalancing of the portfolio, further de-risking, increasing profitability and creating a sustainable platform for future growth. For 2021, BAM reiterates the outlook of an adjusted EBITDA margin of around 3.5 per cent.

  • Revenue increased by 11% to €5.3 billion and above pre-Covid level of first nine months 2019
  • Adjusted EBITDA: €223 million in first nine months (margin of 4.2%), €66 million in third quarter
  • Divestment BAM Deutschland completed in October
  • Cash position mainly reduced by assets held for sale BAM Deutschland, remains solid at €1 billion
  • Capital ratio improved by 0.7% to 13.9% in third quarter
  • Strong order backlog of €13.5 billion, with improving risk profile

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