BAM 2019H1: adjusted pre-tax loss of €27.2m; FY 2019 margin outlook of around 1% confirmed
- As announced on 8 July, results were impacted by higher costs on a civil project and construction projects in Germany, and a BAM International project. The total impact is €94m.
- Construction and Property: strong performance in the Netherlands and UK, offset by project losses in Germany and International
- Civil engineering: negative result includes additional loss of €7.5m at OpenIJ project in 2019H1
- PPP: strong performance and two new projects (one financial close and one preferred bidder)
- Order book: stable compared to 2018 due to focus on quality over volume
- Strong cash position with trade working capital efficiency at -9.1%
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