BAM reports €203 million adjusted EBITDA in first nine months
First nine months 2024 trading update
- Revenue increased by 2% in first nine months, driven by division Netherlands
- Adjusted EBITDA of €203 million in first nine months; adjusted EBITDA margin of 4.4%
- Adjusted EBITDA of €76 million in third quarter, including €9 million revaluation of earnout Invesis
- Liquidity position remained solid at €457 million
- Capital ratio further improved to 25.0% (H1 2024: 24.5%)
- Order book increased to €11.7 billion (H1 2024: €11.0 billion)
Over the first nine months of 2024, Royal BAM Group nv delivered an adjusted EBITDA of €203 million, reflecting a margin of 4.4%. Over the same period the order book increased by 19%, supported by a strong order intake in Civil Engineering UK. For the full-year 2024, BAM reiterates its outlook to deliver an adjusted EBITDA margin between 4% and 5%.
Ruud Joosten, CEO
‘I am pleased that we made further progress with our strategy ‘Building a sustainable tomorrow’, based on Focus, Transform and Expand, with sustainability and people as key drivers. Recent developments within these pillars include a programme to further enhance the safety of our employees and supply chain partners, and the official opening of our factory for the industrial and circular production of wooden Flow homes. Our expansion in the energy transition and rail infrastructure markets is illustrated by some major multi-year project wins in Civil Engineering UK; the Orkney-Caithness link project (energy transmission) and the Transpennine route upgrade (rail infrastructure).’
