Koninklijke BAM Groep NV
AEX:BAMNB

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Koninklijke BAM Groep NV Logo
Koninklijke BAM Groep NV
AEX:BAMNB
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Price: 11.75 EUR 1.21% Market Closed
Market Cap: €3.2B

Koninklijke BAM Groep NV
Investor Relations

Koninklijke BAM Groep NV is a Dutch construction and infrastructure company. It builds and renovates homes, offices, schools, hospitals, roads, rail projects, and other public works, and it also carries out maintenance and engineering services tied to those assets. Its work sits in the middle of the construction chain: it turns plans and engineering designs into finished buildings and infrastructure. BAM mainly sells project-based construction services to governments, developers, housing associations, utilities, and commercial property owners. It makes money by winning contracts and then charging for the labor, materials management, design coordination, and delivery of each project. A smaller part of the business comes from long-term maintenance and asset management work, which can provide steadier recurring income than one-off building projects. What makes BAM’s business model different is that it is not a product maker; it is a large contractor that combines civil engineering, building, and maintenance under one roof. That gives it exposure to both private real estate spending and public infrastructure budgets, and it can take part in projects where execution, safety, scheduling, and technical know-how matter as much as raw construction volume.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Jul 30, 2026
AI Summary
Q2 2026

Strong half: BAM reported first-half revenue of EUR 3.5 billion, adjusted EBITDA of EUR 240 million, and a 6.9% margin, with profit up across both divisions.

Outlook raised: Management now expects a full-year 2026 adjusted EBITDA margin of at least 6.5%, up from the prior 5% target discussed a year ago.

Netherlands led: Dutch operations posted especially strong results, with adjusted EBITDA up 25% to EUR 138 million and home sales up 35% to 935 units.

U.K./Ireland improved: The U.K. and Ireland division delivered higher revenue and a 48% jump in adjusted EBITDA to EUR 98 million, though Ireland was held back by extra costs on the National Children's Hospital.

Balance sheet solid: BAM ended the period with EUR 750 million in cash, solvency of 22.9%, and an order book of EUR 12.6 billion.

Demand backdrop: Management said demand remains strong, supported by infrastructure, energy transition, defense, and housing needs, while noting some uncertainty around grid connections and broader market conditions.

Key Financials
Revenue
EUR 3.5 billion
Adjusted EBITDA
EUR 240 million
Adjusted EBITDA margin
6.9%
Net result
EUR 127 million
Earnings per share
EUR 0.49
Cash position
EUR 750 million
Solvency
22.9%
Order book
EUR 12.6 billion
Netherlands adjusted EBITDA
EUR 138 million
Netherlands adjusted EBITDA margin
8.2%
Homes sold
935
U.K. and Ireland adjusted EBITDA
EUR 98 million
U.K. and Ireland adjusted EBITDA margin
5.7%
Cash flow from operations
EUR 211 million
Working capital outflow
EUR 150 million
Trade working capital efficiency
minus 12.5%
CapEx
EUR 80 million to EUR 85 million
Effective tax rate
18%
Net cash position after lease liabilities
EUR 300 million
Dividend paid
EUR 77 million
Share buyback
EUR 32 million
Total distributions to shareholders
55% of 2025 net income
Dutch order book
EUR 6 billion
U.K. and Ireland order book
EUR 6.1 billion
Earnings Call Recording
Other Earnings Calls

Management

Mr. R. J.M. Joosten
Chairman of Executive Board & CEO
No Bio Available
Mr. L. F. den Houter
CFO & Member of Executive Board
No Bio Available
Mr. S. Capper
Chief Information Officer
No Bio Available
Mr. Joost van Galen
Head of Investor Relations
No Bio Available
Mr. S. H. A. J. Beckers
General Counsel & Company Secretary
No Bio Available
Mr. Walter Swinkels
Director of Governance, Risk & Compliance
No Bio Available
Mr. Pim Gillissen
Group Communications Director
No Bio Available
Ms. Sabine van Hooijdonk-Verboom
Chief Human Resources Officer
No Bio Available
Mr. Arno C. Pronk
Head of Public Relations
No Bio Available
Mr. Simon Finnie
Chief Business Excellence Officer
No Bio Available

Contacts

Address
UTRECHT
Bunnik
Runnenburg 9
Contacts
+31306598988.0
www.bam.com
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