BAM reports €58 million adjusted EBITDA in first quarter
First quarter 2023 trading update
Royal BAM Group nv reports an adjusted EBITDA of €58 million in the first quarter 2023, reflecting an adjusted EBITDA margin of 4.0 per cent. BAM’s order book and cash position remain solid and the capital ratio further improved. Despite the headwinds created by the uncertain macro-economic and geopolitical situation, the Group remains on track with the execution of its strategy and is aiming to deliver a performance towards the 2023 strategic targets.
- Revenue in division Netherlands and division UK and Ireland increased by 4%; total revenue declined by 6% due to divestments in 2022
- Adjusted EBITDA of €58 million (Q1 2022: €97 million, included €16 million settlement sea lock IJmuiden, €11 million revaluation of hedge instruments, and €10 million from divested companies)
- Liquidity position of €0.7 billion, despite higher trade working capital
- Capital ratio further improved to 22.6% (year-end 2022: 21.2%)
- Order book maintained at solid level of €10 billion
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