BAM reports €182 million adjusted EBITDA in first half-year
Royal BAM Group nv delivered a strong first half-year of 2022, based on a solid operational performance, further de-risking on projects and substantial progress with divestments. The net result improved significantly to €86 million. The cash position and order backlog remain at a good level. For 2022, BAM expects to deliver an adjusted EBITDA margin of at least 4 per cent, excluding the anticipated result on the Wayss & Freytag divestment. BAM expects to propose a dividend over the full-year 2022.
- Revenue increased 2% in Netherlands, United Kingdom and Ireland; total revenue declined 8% versus H1 2021 due to divestments
- Adjusted EBITDA increased 16% to €182 million, reflecting a margin of 5.5%, including positive effect of €16 million following settlement of Museum of the Future (Dubai) in Q2
- Strong improvement of net result to €86 million, earnings per share of €0.31 in first half-year
- Liquidity position of €830 million, excluding €188 million for Wayss & Freytag reported as held for sale
- Capital ratio improved to 17.7% (14.5% year-end 2021 and 13.2% H1 2021), completion of Wayss & Freytag transaction will add 2.3%
- Solid order book of €12.2 billion (including €900 million impact of divestments)
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