BAM delivers 2018 outlook with adjusted pre-tax result of €153.2 million
- Adjusted pre-tax margin of 2.1% despite the impact of sea lock IJmuiden project (OpenIJ)
- Construction and Property: good result benefiting from Dutch residential property, UK and Ireland
- Civil engineering: strong performance in UK and Ireland, mainly offset by the Netherlands
- PPP: solid performance from the existing portfolio
- Order book growth driven by multi-year projects with firm focus on tender discipline
- Positive cash flow with strong inflow in second half 2018
- Non cash impairments on Dutch regional property positions in Q3 and Dutch deferred tax asset in Q4
- Dividend proposal of €0.14 (2017: €0.10) per share with scrip alternative and buy-back to offset dilution
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