Royal BAM Group : Not the expected start of the year in Q1
>Miss on EBITDA, faster deterioration trade working capital - BAM reported Q1 sales of €1.4bn, exactly in line with our estimate (no css available). Adj. EBITDA came in at €44m, a clear miss versus our expectation of €59m (Q1 2023 €58m), representing a margin of just 3.1% versus 4.2% expected (Q1 2023 4.1%). The orderbook came in at €10.7bn, roughly €1bn higher than our estimate, which was more or less in line with the orderbook at year-end. This is encouraging as it ...Koninklijke Bam is a construction group based in the Netherlands. Co. is active in the sectors construction, property, civil engineering, public private partnerships, mechanical and electrical contracting, consultancy and engineering, and facilities management. Co. maintais market positions in the Netherlands, Belgium, the United Kingdom, Ireland and Germany. Co. undertakes specialist construction and civil engineering projects in niche markets worldwide. Co.'s consultancy and engineering company provides services to global clients with their international operations.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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