BAM: €31 million net profit for 2009 caused by property
- Property loss making, all other sectors profitable
- Losses for Property in 2009: €266 million including impairment and goodwill write-downs
- Revenue for 2009: €8.4 billion (2008: €8.8 billion)
- Order book €11.2 billion at year-end 2009 (€13.1 billion at year end 2008)
- Proposed cash dividend of €0.10 per ordinary share (2008: €0.50)
- Rights issue of approximately €250 million to reinforce equity position
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Course of business in 2009
Royal BAM Group has had a difficult year. In nearly all markets, operating companies are facing shrinking volumes, intensifying competition and substantial pressure on pricing. This puts a strain on the results, turnover and order book. Various companies - both in the Netherlands and abroad - have adjusted their organisation to the changes in the market situation. Considering the unfavourable market conditions, most of the operating companies performed decently during 2009. With the exception of property activities in the Netherlands, the United Kingdom and Ireland, all sectors and all countries closed the 2009 financial year on a profit.