BAM records 1Q17 adjusted result of €4.9 million and further improved financial position

• Construction and Property: good results at Dutch property and turnaround in Germany
• Civil engineering: result in Germany lower (strong 1Q16); held back by the Netherlands and oil & gas
• PPP: steady result from existing portfolio
• Order book: quality continues to improve; slightly higher level
• Strong recourse net cash position reflecting ongoing progress in trade working capital efficiency

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