Royal BAM Group maintains turnover and profit forecast; order book steady
Bunnik, 4 December 2003 – On the strength of the results for the third quarter, Royal BAM Group nv reaffirms the expectation of achieving a higher profit per ordinary share in 2003 (2002: €4.35), corresponding to a net profit of approximately €80 million on a turnover of around €7.7 billion.
On the assumption that the transaction involving Ballast Ham Dredging will be completed before the end of the year, Royal BAM Group's capital base as at year-end 2003 will increase to 18-19% of the balance sheet total.
As at 30 September 2003, the order book stood at €10.1 billion. As at 30 June 2003, the Group reported an order book of €10.3 billion. Excluding the BHD order book for the next few years, the figures are €9.6 million and €9.7 billion, respectively. Although the volume of work on order in the Netherlands is down, the order books of the international operating companies have improved. An amount of approximately €4.6 billion of the work on order is expected to be executed in 2004, meaning that roughly 67% of next year's expected turnover is already secured.
Commencing in 2004, Royal BAM Group will be publishing quarterly figures (before the start of trading in Amsterdam) on regular dates. The calendar for 2004 is:
- Thursday, 25 March: 2003 results
- Thursday, 3 June: first-quarter results
- Thursday, 16 September: half-year results
- Thursday, 9 December: third-quarter results
Other important dates in the 2004 financial calendar are:
- Friday, 7 May: Annual General Meeting of Shareholders
- Tuesday, 11 May: ex-dividend quotation
Further information:
- Press: A.C. Pronk, +31 (0)30 659 86 21, ac.pronk@bamgroep.nl
- Analysts: P. Verbraeken, +31 (0)30 659 88 56, p.verbraeken@bamgroep.nl