Koninklijke BAM Groep N.V.: BAM reports €176 million adjusted EBITDA in first half-year 2025

Full year outlook for adjusted EBITDA margin upgraded to at least 5%

• Revenue increased by 7% to €3.4 billion
• Adjusted EBITDA €176 million, reflecting a margin of 5.2% (H1 2024: adjusted EBITDA €126 million, margin of 4.0%)
• Net result increased 85% to €102 million, reflecting earnings per share of €0.39 (H1 2024: €0.20)

• Liquidity position solid at €501 million (H1 2024: €453 million), solvency stable at 23.0% (FY 2024: 23.0%)
• Order book maintained at high level of €12.9 billion (FY 2024: €13.0 billion)
• For the full-year 2025, BAM expects to deliver an adjusted EBITDA margin of at least 5%

Royal BAM Group has delivered a strong performance in the first half-year. We reported an adjusted EBITDA of €176 million, 40% higher versus the same period last year. We see attractive market opportunities driven by demand for energy transition, infrastructure, defense and sustainable and affordable housing, all areas where we have demonstrated market-leading capabilities. Delivering complex infrastructure projects and new homes are essential to create thriving communities. This requires stability, clear planning, and commitment beyond short-term political agendas.'

Ruud Joosten, CEO

Read full press release:
https://www.bam.com/sites/bamc/files/2025-07/bam-2025-07-24-q2-2025-en-press-release.pdf