BAM: early and full payment of €115 million of Covid-19 government support
Bunnik, the Netherlands, 14 December 2022 – Royal BAM Group nv has paid the remaining VAT and salary tax, which had been deferred using arrangements granted by the Dutch tax authorities in response to Covid-19 in 2020. The amount of €115 million, which had been due for payment in monthly installments until 2027, has been paid in full.
Frans den Houter, CFO Royal BAM Group: ‘I am pleased to announce that BAM has paid all remaining Covid-19 related government support, which was meaningful to the Group at a moment of substantial uncertainty. Meanwhile, BAM’s capital ratio has improved strongly, the cash position is solid and we have recently renewed our revolving credit facility. As such, BAM has sufficient financial flexibility to further execute our strategy Building a sustainable tomorrow.’