BAM expects project losses of approximately €75 million; announces major cost reduction and working capital improvement programmes

Bunnik, the Netherlands, 7 July 2014 - Based on the latest available information, Royal BAM Group nv expects project losses totalling approximately €75 million, due to:

• Deterioration of a large civil engineering project in Germany which is one of the handful of lossmaking projects reported last year. The problems are due to adverse ground conditions; technical solutions have been implemented to keep this project on schedule but these are more costly than anticipated.
• Unexpected problems at a mid-sized UK civil engineering project which was bid for in 2012. This is due to a combination of adverse ground conditions and bad weather.

Press here for the full press release.