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After the disappointing first half year Royal BAM Group recorded an adjusted result before tax of €168 million over the second half of 2020, supported by €118 million of the BAM PPP transaction. For the full year, BAM reports a net loss of €122 million, mainly driven by Covid-19 and the loss of €110 million at BAM International. Apart from Dutch Construction and Property, and BAM PPP, the operational performance was not satisfactory. The execution of the €100 million cost reduction programme announced in September is on schedule. During the second half year, there was further improvement of the cash position and the order book. The new strategy for 2021-2023 will lead to a smaller but profitable and predictable company, while creating a sustainable platform for future growth. BAM will provide its outlook for 2021 in due course.

• Good results from Dutch Construction and Property, mainly driven by residential, and BAM PPP
• BAM PPP transactions contributed €132 million to the full year adjusted result before tax, going forward BAM PPP is classified as joint venture
• Strong positive cash flow development; year-end cash position at €1.8 billion (including €400 million RCF)
• Order backlog maintained at high level with continued focus on risk/reward balance
• Capital ratio improved to 13.4% versus 11.3% in first half-year, supported by the BAM PPP transaction
• Cost reduction programme on schedule to reach annual savings of €100 million
• New strategy 2021-2023: restructure portfolio, increase profitability and create sustainable platform for future growth

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Hemel Hempstead, 15 February 2021 - New health facilities to improve the treatment experience of West Country patients for a range of conditions have taken a major step forward in Cornwall.

(Press release Leeds College of Building:) Leeds, 9 February 2021 - Leeds College of Building and construction partner, BAM, is celebrating student diversity figures as they join the rest of the country in marking National Apprenticeship Week (#NAW2021), taking place between 8 and 14 February 2021.

Hemel Hempstead, 8 February 2021 - BAM Construct UK has chosen the British Heart Foundation (BHF) as its national charity partner for the next two years.

Hundreds of businesses learn how to build a sustainable future with Highways England

(Press release Supply Chain School and Highways England:) London, 2 February 2021 - Highways England, in partnership with the Supply Chain School have launched a sustainability support programme to accelerate learning, knowledge and performance improvement across its Regional Delivery Partnership (RDP) Framework.

The Femern Link Contractors joint venture began work on the world's longest immersed tunnel. Up to 9-meter high and 43-metre wide, the 18 km-long combined road and rail tunnel linking Germany and Denmark will foster trade and tourism in Northern Europe. Works have started on the Danish side, with the construction of the factory that will manufacture the 200-metre precast concrete box girders that will be immersed to form the fixed link between Denmark’s Lolland Falster region and Germany’s Schleswig Holstein Land. The project will have a workforce of 2,000 employees at the peak of activity. This new infrastructure facility, one of the most ambitious ongoing projects in Europe, will shorten the journey between the German and Danish coasts to just 7 minutes by train and 10 minutes by car from the current travel time of one hour by ferry or a 160 km detour by car! Delivery is scheduled for mid-2029.

Hemel Hempstead, 29 January 2021 - BAM Construction is to return to Middlesborough’s digital zone after being asked by Middlesbrough Council to create the new Boho X building. BAM will initially operate under a pre-construction services agreement working closely with the developer, Beijing Construction Engineering Group.

Hemel Hempstead, 26 January 2021 - BAM Construction is progressing with the second phase of the redevelopment and extension of Central House, Whitechapel, London. BAM has been working for around 18 months under an extensive PCSA (pre-contract service agreement).

Hemel Hempstead, 22 January 2021 - BAM Construction has been appointed to create a £29 million high school in Dartford, Kent. Stone Lodge School is now making good progress on site following a pre-construction period. The team has already conducted ecological investigations, translocated wildlife and diverted public rights of way.