BAM starts a 2009 with low results due to low point residential market
- Net result for the first quarter of 2009: €8.3 million
- 90% of forecast turnover for 2009 in the order book
- Worsening of Property and Construction markets
- AM financing facility to Group level
- Order book stays at a high level: €12.7 billion as at 31 March 2009
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Course of business in the first quarter of 2009
At the start of 2009, Royal BAM Group is experiencing the radical change in market conditions. Furthermore - as in previous years - seasonal influences affect the interpretation of the results for the first quarter. Revenue reduced by about 5% to €1.78 billion (2008: €1.87 billion). However, taking account of the impact of currency exchange rate fluctuations, revenue remained at the same level as in the first quarter last year. The consequences of the economic crisis are reflected the most in the Property and Construction sectors. The results were lower than last year in virtually every sector; in the Property sector was a loss. The total result before tax decreased to €9.6 million (2008: €65.7 million). Net results for the first quarter of 2009 amounted to €8.3 million (2008: €51.6 million).