Report
Martijn Den Drijver

Royal BAM Group : Preview 1H22: Solid results expected, some clouds on the horizon

>1H21 sales down because of M&A, underlying EBITDA margin stable - BAM will report 1H22 results on August 18 at 07.15h CET. An analyst meeting and webcast is planned for 10h CET. We forecast sales of €3.35bn, which is a decline of 7.8% yoy. That decline is solely caused by the divestments of BAM Deutschland (Sep 2021), BAM Galere (Feb 2022) and BAM Contractors (May 2022) . We forecast an adjusted EBITDA of €169m, up from €157m in 1H21. That €169m represents a margin o...
Underlying
Koninklijke BAM Groep NV

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Martijn Den Drijver

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