Report
Martijn Den Drijver

Royal BAM Group : Preview Q1 23: Headwind in some markets

>Headwinds and divestments result in lower Q1 23 sales and EBITDA - BAM will publish Q1 23 results on May 4th at 07.15h CET. We forecast sales of €1.4bn (down from €1.55bn a year earlier but Q1 22 still included the results of Wayss & Freytag (W&F), BAM Galere and BAM Contractors. We forecast an adjusted EBITDA of €52.9m or a margin of 3.8%, which is significantly lower than the adjusted EBITDA (cleaned for BAM International and one-offs) of 1Q22 which was 4.5% and 6...
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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