Koninklijke Bam Groep Nv · EURONEXT:BAMNB
Koninklijke Bam Groep Nv — Royal BAM Group — H1 2025 Earnings Presentation
18 slides from Koninklijke Bam Groep Nv's earnings presentation, Jul 24, 2025
Slide 1: First half-year 2025 results: BAM reports €176 million adjusted EBITDA
First half-year 2025 results BAM reports €176 million adjusted EBITDA Royal BAM Group nv Amsterdam, the Netherlands, 24 July 2025 Ruud Joosten Henri de Pater CEO CFO
Slide 2: Disclaimer
Disclaimer • This presentation contains ‘forward-looking statements’, based on currently available plans and forecasts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future, and B
Slide 3: New 380 kV high voltage connection between Borssele and Rilland
Royal BAM Group nv New 380 kV high voltage connection between Borssele and Rilland. H1 2025 Results 3
Slide 4: Key points first half-year 2025
Key points first half-year 2025 Adjusted EBITDA of €176 million in first half-year 2025, 40% higher versus same period last year Revenue Adjusted EBITDA • Revenue increased by 7% versus H1 2024 2024 H1 2024 H1 • Adjusted EBITDA was €176m, reflecting a €3,380m €3,149m €176.4m €126.4m margin of 5.2% (
Slide 5: Division Netherlands
Division Netherlands Royal BAM Group nv The new electric tractor, developed in-house, is currently in operation at Schiphol Airport, where BAM has a long-term maintenance and operations framework H1 2025 Results contract 5
Slide 6: Performance division Netherlands
Performance division Netherlands Strong increase of adjusted EBITDA in the first half-year 2025 (x € million, unless otherwise H1 2025 H1 2024 indicated) Adj. Adj. Revenue EBITDA Revenue EBITDA • Revenue increased by 10% to €1.6bn Construction and Property 1,155 82.7 1,063 40.5 • Adjusted EBITDA €11
Slide 7: Division United Kingdom and Ireland
Division United Kingdom and Ireland Royal BAM Group nv H1 2025 Results Woodmill High School, part of the Dunfermline Learning Campus – BAM Construct UK 7
Slide 8: Performance division United Kingdom and Ireland
Performance division United Kingdom and Ireland Further increase of EBITDA in first half-year, Construction UK returned to profitability (x € million) H1 2025 H1 20241 • Organisation simplified in first half-year by integrating Revenue Adj. Revenue Adj. Ventures UK into the other three businesses EB
Slide 9: Financial review
Financial review Royal BAM Group nv Amsterdam Central Station, further expanding the capacity for passengers and trains of this monument and one of the busiest stations in the Netherlands, for H1 2025 Results ProRail – BAM Infra Nederland (Photo: ProRail/Shane van Hattem Duckdev Fotografie) 9
Slide 10: Income statement
Income statement Adjusted EBITDA of €176 million (+40%), and net result of €102 million in first half-year 2025 (x € million) H1 2025 H1 2024 • Adjusted EBITDA €50m higher to €176m, driven by 7% Division Netherlands 110.1 69.9 revenue increase and increase of adjusted EBITDA Division United Kingdom
Slide 11: Cash flow
Cash flow Cash and cash equivalents of €501 million (30 June 2025) (x € million) H1 20251 H1 20241 • Cash and cash equivalents totalled €501m Cash flow from operations 151 111 Working capital -266 -224 • Cash flow from operations of €151m Provisions and pensions -20 -53 Net cash flow from operating
Slide 12: Financial position
Financial position Solid liquidity position and solvency stable (x € million, unless otherwise H1 2025 FY 2024 H1 2024 indicated) Liquidity position 501 763 453 • Net cash position lower versus year-end 2024 Interest-bearing debt -93 -67 -60 Net cash position ̶ Reflects normal seasonal pattern 408 6
Slide 13: Looking ahead
Looking ahead Royal BAM Group nv H1 2025 Results Transpennine Route Upgrade: one of the largest investment in England’s rail infrastructure – BAM Nuttall 13
Slide 14: Order book and market trends
Order book and market trends Order book maintained at high level of €12.9 billion, continued focus on risk/reward balance Order book development (in € million) • Total order book €12.9bn with further increase in division United Kingdom and Ireland, and Belgium 7360 7181 • We expect demand in our mar
Slide 15: Outlook 2025
Outlook 2025 • BAM expects to deliver an adjusted EBITDA margin of at least 5% Royal BAM Group nv H1 2025 Results 15
Slide 16: Key points first half-year 2025
Key points first half-year 2025 Adjusted EBITDA of €176 million in first half-year 2025, 40% higher versus same period last year Revenue Adjusted EBITDA • Revenue increased by 7% versus H1 2024 2024 H1 2024 H1 • Adjusted EBITDA was €176m, reflecting a €3,380m €3,149m €176.4m €126.4m margin of 5.2% (
Slide 17: Annex: division United Kingdom and Ireland (pro forma)
Annex: division United Kingdom and Ireland (pro forma) Pro-forma results, with activities Ventures United Kingdom integrated in the other businesses (x € million) H1 2025 H1 2024 FY 2024 Adj. Adj. Adj. Revenue Revenue Revenue EBITDA EBITDA EBITDA Construction UK 519 8.1 540 -15.3 1,049 -27.4 Civil e
Slide 18: Contact
Contact Michel Aupers (Investor Relations) Runnenburg 9 PO Box 20 +31 (0)30 659 89 88 3981 AZ Bunnik 3980 CA Bunnik ir@bam.com The Netherlands The Netherlands www.bam.com Royal BAM Group nv H1 2025 Results 18