BAM reports third quarter adjusted EBITDA of €66 million, outlook reiterated

First nine months 2021 trading update

Royal BAM Group nv reports for the first nine months of 2021 an adjusted EBITDA of €223 million versus an adjusted EBITDA of €38 million in the same period of 2020. In the third quarter there was a strong performance from Dutch Construction and Property, and a satisfactory contribution from most other activities. The large contracts division of Dutch Civil engineering continues to underperform. The order book of €13.5 billion remains high. BAM is making good progress with its new strategy: a continued focus on rebalancing of the portfolio, further de-risking, increasing profitability and creating a sustainable platform for future growth. For 2021, BAM reiterates the outlook of an adjusted EBITDA margin of around 3.5 per cent.