BAM Ireland shows strong recovery in 2021
Kill, Co. Kildare, 22 September 20222 - BAM Ireland, one of the country’s leading construction firms, has recovered from the impact of Covid-19 restrictions and has shown strong improvement in its annual report for 2021. The company had a consolidated turnover of €626.2 million for 2021 compared to €460.8 million in 2020, resulting in a turnaround to a pre-tax profit of €10.7 million from a pre-tax loss of €16.9 million in 2020.
2021 Highlights
- Completion of New Children’s Hospital satellite sites at CHI Tallaght
- Significant milestone in ‘topping out’ of main structure at principal NCH site
- Won prestigious awards for Rose-Fitzgerald Kennedy Bridge and Dublin Airport Visual Control Tower
- Retained place on Carbon Disclosure Project A-List – only construction company in Ireland with this rating
| BAM Ireland | 2021 | 2020 |
|---|---|---|
| Turnover | €626.2m | €460.8m |
| Profit/(Loss) before tax | €10.7m | (€16.9m) |
| Total equity | €84.4m | €74.7m |
The Covid-19 pandemic made 2020 particularly challenging for the construction sector, and this spilled over into 2021 as all non-essential construction projects remained closed in Q1. Having weathered this storm, the company returned to all sites, and its turnover in Ireland was generated from its strong presence in all market segments, particularly private commercial and industrial, health and education.
Despite the challenges faced throughout 2021, BAM continued to progress a number of key projects, including the National Children’s Hospital, which achieved the significant milestone of the substantial completion of the Outpatient & Emergency Care Units for CHI at Tallaght, a satellite site to the principal Dublin 8 campus. Work also continued on the main hospital, achieving ‘topping out’ of the main structure at its highest point. Work has continued to progress well on this vital national project throughout 2022.
Future order book strength and quality were improved with a number of awards including the Athy Distributor Road, a package of new-build national schools in Dublin and Cork as part of a Department of Education’s Design and Build Framework Schools Bundle in joint venture with Glasgiven and, more recently as a Kier BAM Joint Venture, a position on the £1.2 billon Major Project Partnership Framework for Northern Ireland Water.
BAM was honoured to receive industry recognition in 2021, including the prestigious IABSE – International Association for Bridge and Structural Engineering Outstanding Structure Award for the iconic Rose Fitzgerald Kennedy Bridge, and Building of the Year – Commercial at the Building and Architect of the Year Awards for the Visual Control Tower at Dublin Airport.
In its continued sustainability efforts, the company once more maintained its place on the Carbon Disclosure Project’s Global Ranking’s A-List, unique amongst the Irish construction sector, while also becoming a Platinum Member of the Irish Green Building Council.
Commenting on these results, Alasdair Henderson, Executive Director, BAM Ireland, said: ‘After a challenging 2020, these are good results which underline our commitment to customer success in what continues to be a highly competitive market. As a purpose-led business, our people have worked closely with our customers and supply chain partners to improve project delivery and increase our resilience in 2021. In 2022 we continue to work with these strategic customers and partners to improve project performance and sustainability, further investing in customer relationships, R&D, and digital construction as platforms for growth in a low-carbon future. As the industry prepares to deliver the modern infrastructure and built environment required by Irish society, we continue to take an active part in ensuring the necessary skills, technologies and procurement reforms are in place to drive more effective, more sustainable, and more predictable outcomes for our customers.’