BAM donates trees to Euronext at sixty years listing
Bunnik, 12 March 2019 – Today Frans den Houter, CFO of Royal BAM Group nv, opened the Euronext Amsterdam stock exchange with the traditional gong beat. The construction group's share was listed on the Amsterdam stock exchange for sixty years on 9 March 2019. Following the gong strike, Frans den Houter offered CEO Maurice van Tilburg and Head of Listing Rene van Vlerken from the Euronext Board sixty so-called one-two-tree-packages, enabling the planting of sixty trees in the Netherlands and sixty trees elsewhere in the world by Trees for All. BAM is working closely with this organisation, which will plant the 150,000 trees, marking BAM's 150th anniversary this year. The 120 trees donated to Euronext will come on top of the previously announced 150,000 trees.
Frans den Houter: 'BAM is one of the large players in the European construction sector and attaches great importance to safety, sustainability and digitalisation. Our listing on Euronext Amsterdam contributes to the recognition of our significance to society. With our donation of one hundred and twenty trees to Euronext, we want to underline the importance of our sustainable cooperation. Euronext and BAM are working together to create value, both on the stock exchange and for the environment'.
BAM's turnover in 1959 was 20 million guilders (more than 9 million euros). BAM had almost a thousand employees. At the time of the introduction, BAM shares of NLG 1,000.00 could be acquired in exchange for three depositary receipts of NLG 350.00, which made the share price NLG 1,050.00. In the days before the introduction a lively trade arose in the BAM-certificates. The dividend grew from 10 percent to 25 percent in the ten years following the introduction (1959-1969).
BAM used the capital raised by the stock exchange introduction to expand its machine park and to build an office in Rotterdam, thereby taking further steps in the field of hydraulic engineering. In the 1950s-1960s, BAM invested heavily in machinery, which proved to be a good investment in view of the company's strong growth in the years following the introduction. In 1959, the order book included 13.5 million guilders for 'projects'. Today, the order book stands at 12.7 billion euros.