BAM 2014 adjusted pre-tax result €62 million; Back in Shape programme on track

• Adjusted result supported by strong Q4 at PPP and first Back in Shape savings
• Positive cash flow 2014 driven by divestments and improving trade working capital
• Results in operational sectors down in a difficult year; strong results at investment sectors
• Order book stable, quality improving
• Non-cash impairments on Dutch Property land bank and two Irish PPP toll roads
• Back in Shape: good momentum in cost and working capital savings and better project control

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