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Wed June 19 2019

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BAM turns around half-year losses

20 Aug 15 Dutch construction group Royal BAM has managed to turn around 2014’s loss-making position at the half-year stage into a profit this year.

In the first six months of 2015, BAM made a profit of €3.9m from its UK operations, compared to a loss of €3.8m in the first half of 2014.

UK revenue was up 18% to €1,093m (2014 H1: €927m).

There was also a strong performance in Ireland, where profit was up 36% to €4.5m (2014 H1: €3.3m) on revenue up 26% to €202m (2014 H1: €160m).

The UK is BAM’s second biggest territory, after the Netherlands, and the stronger pound helped the group increase total first-half revenue by 4% to €3,515m. Last year’s half-year pre-tax loss of €1.6m became a profit of €4.0m this time.

Rob van Wingerden, CEO of Royal BAM Group, said: “BAM continued to move in the right direction in the first half of 2015. The Back in Shape programme, which has been underway now for ten months, is making fundamental improvements in our culture, structure and processes. The working capital reduction programme is strengthening our net cash position and the savings from non-project overheads are coming through.”

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