BAM reports €53.3 million adjusted EBITDA in Q1, focus on strategy execution
First quarter 2021 trading update
Royal BAM Group nv reports for the first quarter of 2021 an adjusted EBITDA of €53.3 million, a clear improvement versus last year. The focus is on the execution of BAM’s strategy, which will result in a more profitable and predictable company. In addition to improvement of the operational performance and risk profile, the portfolio was strengthened by two small divestments and an add-on acquisition. BAM’s cash position and order backlog remain solid.
- Revenue slightly higher compared to first quarter 2020
- Adjusted EBITDA increased with 28% to €53.3 million in Q1 2021, reflecting an adjusted EBITDA margin of 3.2%
- First quarter results supported by solid contributions from United Kingdom and Netherlands
- BAM International; adjusted EBITDA loss of €12.9 million, wind-down scheduled to be completed before year-end
- Liquidity position of €1.3 billion after repayment €400 million RCF, capital ratio improved to 15.1% (year-end 2020: 13.4%)
- Cost reduction programme completed as planned, continued focus on portfolio improvement and risk reduction
- Solid order book, strong order intake in United Kingdom
- BAM had a satisfactory start to the year which provides confidence for 2021, and will provide the outlook for 2021 in due course
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