Royal BAM Group Reports Half-Year Results
Royal BAM Group today presented the most important key figures of the first half-year 2018, reporting the 1H18 adjusted pre-tax result of €57.8 million.
The company also reported that the total order book rose by €0.2 billion in the first half of 2018, mainly due to the award of the Afsluitdijk project in the Netherlands.
Rob van Wingerden, CEO of Royal BAM Group: “Despite the previously announced €30 million additional cost overrun at sea lock IJmuiden, our first half result was above last year’s. Most of our businesses showed improved results supported by some settlements.”
“The cash outflow for the first half of 2018 was higher than in the first half of 2017 mainly due to IJmuiden and the absence of large non-residential property divestments; our financial position remains solid,” added Rob van Wingerden.
“Conditions in most of our markets are favorable, although challenges like supply chain pressure remain. We reconfirm our outlook for full year 2018 of an adjusted result before tax margin of around 2%,” said the CEO of Royal BAM Group.
Click here for the full version of the 2018 half year report.