BAM reports €97 million adjusted EBITDA in first quarter
First quarter 2022 trading update
Royal BAM Group nv had a strong operational performance in the first quarter of 2022, including the sea lock IJmuiden (OpenIJ) settlement and an exceptional contribution from the PPP joint venture. BAM’s cash position and order book remain solid. For 2022, BAM expects an improvement of the adjusted EBITDA margin, compared to the full-year 2021 of 3.8 per cent.
- Revenue declined by 6% versus Q1 2021 due to divestments; increased by 5% in the Netherlands, United Kingdom and Ireland
- Adjusted EBITDA increased to €97.3 million in Q1 2022, reflecting an adjusted EBITDA margin of 6.3%
- Q1 results supported by €16 million settlement sea lock IJmuiden and €11 million from PPP joint venture due to positive changes in fair values of hedge instruments
- Liquidity position of €1 billion, capital ratio improved to 16.0% (year-end 2021: 14.5%)
- Solid order book of €12.4 billion (€400 million impact of divestments)
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