Koninklijke BAM Groep N.V.: BAM reports €44 million adjusted EBITDA in first quarter

First quarter 2024 trading update

Royal BAM Group nv reports an adjusted EBITDA of €44 million in the first quarter 2024, reflecting an adjusted EBITDA margin of 3.1%. BAM's cash position remains solid and the capital ratio further improved. The order intake was strong. For the full-year 2024, BAM expects to deliver an adjusted EBITDA margin within the strategic range between 4 and 6%.

• Revenue of €1.4 billion, 3% below first quarter 2023
• Adjusted EBITDA of €44 million (Q1 2023: €58 million, including result on a UK property divestment)
• Liquidity position solid at €0.5 billion
• Capital ratio further improved to 25.2% (year-end 2023: 23.4%)
• Order book increased by 10% to €10.7 billion

Full press release:
https://www.bam.com/sites/bamc/files/2024-05/bam-2024-05-02-q1-2024-en-press-release.pdf