Koninklijke Bam Groep Nv · EURONEXT:BAMNB
Koninklijke Bam Groep Nv — Royal BAM Group — H1 2024 Earnings Presentation
26 slides from Koninklijke Bam Groep Nv's earnings presentation, Jul 25, 2024
Slide 1: First half-year 2024 results
First half-year 2024 results BAM reports €126 million adjusted EBITDA in first half-year Royal BAM Group nv Amsterdam, the Netherlands, 25 July 2024 Ruud Joosten Frans den Houter 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: Headquarters DSM-firmenich, Maastricht
Royal BAM Group nv H1 2024 Results Headquarters DSM-firmenich, Maastricht. The 10,740 square metre headquarters is the first renovated listed building in the Netherlands set to become Paris-Proof 3 for its low operational carbon footprint. Client: Edge and 3W real estate. – BAM Bouw en Techniek
Slide 4: Key points first half-year 2024
Key points first half-year 2024 BAM adjusted EBITDA to €126 million in first half-year, an increase of 6% Revenue Adjusted EBITDA • Revenue increased by 6% versus H1 2023, mainly driven by division Netherlands 2023 H1 2023 H1 €3,149m €2,969m €126.4m €119.4m • Adjusted EBITDA was €126m, reflecting ma
Slide 5: Division Netherlands
Division Netherlands Royal BAM Group nv H1 2024 Results Gashouderkwartier, Arnhem – BAM Wonen 5
Slide 6: Performance division Netherlands
Performance division Netherlands Adjusted EBITDA increased in first half-year 2024, despite impact of two schools in Denmark (x € million) H1 2024 H1 2023 • Revenue increased by 11% to €1.5bn Revenue Result Revenue Result • Adjusted EBITDA €69.9m (H1 2023: €55.1m), reflecting Construction and Proper
Slide 7: Division United Kingdom and Ireland
Division United Kingdom and Ireland Royal BAM Group nv H1 2024 Results Breast Centre, Ystrad Mynach – BAM Construct UK 7
Slide 8: Performance division United Kingdom and Ireland
Performance division United Kingdom and Ireland Lower adjusted EBITDA in first half-year, solid performance of civil engineering, ventures and Ireland (x € million) H1 2024 H1 2023 • Revenue increased by 2%, supported by high activity Revenue Result Revenue Result levels in civil engineering Constru
Slide 9: Financial review
Financial review Royal BAM Group nv H1 2024 Results Schiphol and BAM have started the large-scale replacement of the climate systems on Pier E. BAM will replace the gas-fired boilers by an additional electric heat 9 pump, install new air handling units and renovate the heat and cold storage system –
Slide 10: Income statement
Income statement Adjusted EBITDA of €126 million (+6%), and net result of €55 million in first half-year 2024 (x € million) H1 2024 H1 2023 • Adjusted EBITDA of €126m reflects solid operational Division Netherlands 69.9 55.1 performance in H1 2024, despite negative impact from Division United Kingdo
Slide 11: Cash flow
Cash flow1 Cash and cash equivalents of €453 million at end first half-year 2024 (x € million) H1 2024 H1 2023 • Cash and cash equivalents totalled €453m Cash flow from operations 111 113 Working capital -224 -180 • Cash flow from operations of €111m Provisions and pensions -53 -26 Net cash flow fro
Slide 12: Financial position
Financial position Solid liquidity position and capital ratio further improved (x € million) H1 2024 FY 2023 H1 2023 • Net cash position lower versus year-end 2023 Liquidity position 453 757 661 ̶ Reflects normal seasonal pattern Interest-bearing debt -60 -62 -47 Net cash position 394 695 614 • Trad
Slide 13: Looking ahead
Looking ahead Royal BAM Group nv H1 2024 Results Southam College, Warwickshire – BAM Construct UK 13
Slide 14: Order book and market trends
Order book and market trends Strong order intake in first half-year 2024, continued focus on quality above volume • Total order backlog €11.0bn, 12% increase versus year-end Order book development 2023 6000 • Market conditions are becoming more favorable, except for non- 5000 residential where inves
Slide 15: Outlook 2024
Outlook 2024 • BAM expects to deliver an adjusted EBITDA margin between 4% to 5% Royal BAM Group nv H1 2024 Results Dok & Kaai, Müllerpier, Rotterdam – AM and BAM Wonen 15
Slide 16: Key points first half-year 2024
Key points first half-year 2024 BAM adjusted EBITDA to €126 million in first half-year, an increase of 6% Revenue Adjusted EBITDA • Revenue increased by 6% versus H1 2023, mainly driven by division Netherlands 2023 H1 2023 H1 €3,149m €2,969m €126.4m €119.4m • Adjusted EBITDA was €126m, reflecting ma
Slide 17: Annexes
Annexes Strategy: roadmap 2024-2026 Royal BAM Group nv H1 2024 Results 17
Slide 18: BAM is ready for the next phase in Building a sustainable tomorrow
BAM is ready for the next phase in Building a sustainable tomorrow Royal BAM Group nv H1 2024 Results 18
Slide 19: Building a sustainable tomorrow Strategy 2024-2026
Building a sustainable tomorrow Strategy 2024-2026 Focus Focus on selected markets with favourable risk- reward profile and sustainable impact Transform Transform in markets through differentiation on sustainable and industrialised products and services Expand Expand in growth markets that are align
Slide 20: Focus
Focus Differentiate on Focus on framework Focus on <€150m Focus on selective process capability agreements infrastructure projects multi-asset clients in economic core UK&I and NL Non-residential NL Non-residential and infrastructure Infrastructure NL Non-residential NL Zalmhaven, Rotterdam UK&I Net
Slide 21: Transform
Transform Industrialise housing Transform education and Innovate roads through Unlock advantages through through Flow concept health through standardised sustainable asphalt cross segment collaboration designs Residential NL Non-residential UK&I Infrastructure NL Non-residential UK&I BAM Wood Concep
Slide 22: Expand
Expand Expand in grids and EV Expand in green infra rail Expand in housing Expand in commercial charging and grids renovations renovation and retrofitting Infrastructure NL Infrastructure UK&I Residential NL Non-residential UK&I Transform station Wijk aan Zee Iarnród Éireann Residential renovation P
Slide 23: Financial targets 2024-2026
Financial targets 2024-2026 BAM aims to deliver: • Predictable performance on >€6 billion revenue • Strong capital ratio: ~25 per cent • Adjusted EBITDA margin: 4-6 per cent • Return to shareholders: 30-50 per cent of net income from operations for dividend, potentially additional cash returns via s
Slide 24: Sustainability targets 2026 and 2030
Sustainability targets 2026 and 2030 Royal BAM Group nv H1 2024 Results 24
Slide 25: Building a sustainable tomorrow 2024-2026 and beyond
Building a sustainable tomorrow 2024-2026 and beyond Revenue development BAM in 2030 Leading construction company in selected Rail markets that are Renovation sustainable and profitable Green asphalt Grids and EV Driven by high performance organisation with highly Biobased Residential engaged people
Slide 26: 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 2024 Results 26