Report
Martijn Den Drijver

Royal BAM Group : Preview 4Q22: An okay but no great quarter expected

>2022 adj. EBITDA margin target of >4% achieved - BAM will report Q4 22 and full year 2022 results on February 16. We forecast full year sales of € 6.65bn (cons at € 6.53) and an adjusted EBITDA of € 361m (margin 5.5%) with cons at € 351m. But if we strip out the one offs and settlements (Afsluitdijk settlement, Museum of the Future settlement, one off PPP gain and the € 52m gain on the sale of Weiss & Freystag), the full year underlying EBITDA is expected to be € 263...
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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