BAM reports 1H18 adjusted pre-tax result of €57.8 million and reconfirms full year outlook
- Construction & Property: Dutch residential property development drives margin improvement
- Civil engineering: cost overrun IJmuiden largely offset by improved results outside the Netherlands
- PPP: solid result from existing portfolio supported by project transfer to PGGM joint venture
- Order book: stable and developing in line with markets
- Higher cash outflow in first half 2018; trade working capital efficiency reduced from -11.1% to -10%
- Adoption IFRS 15 accounting change: restatement 2017 opening shareholders’ equity and result
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