Koninklijke Bam Groep Nv · EURONEXT:BAMNB
Koninklijke Bam Groep Nv — Royal BAM Group — FY2025 Earnings Presentation
20 slides from Koninklijke Bam Groep Nv's earnings presentation, Feb 19, 2026
Slide 1: Annual results 2025
Annual results 2025 BAM delivers adjusted EBITDA of €400 million in 2025 Dividend proposal of €0.30 per share and announcement of €40 million share buyback Replace picture Ruud Joosten Henri de Pater CEO CFO Amsterdam, the Netherlands, 19 February 2026 Fotografie: Evabloem
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: Replace picture
Replace picture Fotografie: Evabloem
Slide 4: Key points 2025
Key points 2025 BAM delivers adjusted EBITDA of €400 million in 2025 Dividend proposal of €0.30 per share and announcement of €40 million share buyback FY 2025 versus FY 2024 Revenues Adjusted EBITDA • Revenue increased by 9% to €7.0 billion • Adjusted EBITDA rose by 20% to €400 million (margin of 5
Slide 5: Shareholder remuneration
Shareholder remuneration €240 million returned to shareholders in 2023-2025, and intention for an additional €117 million in 2026 Overview dividend and share buybacks • BAM will return circa 55% of net result 2025 to shareholders In € million - Dividend proposal of €0.30 over 2025 (2024: €0.25), pay
Slide 6: Division Netherlands
Division Netherlands Royal BAM Group nv FY 2025 results Residential development Hart van Nijmegen (AM, Netherlands) 6
Slide 7: Performance Division Netherlands
Performance Division Netherlands Strong performance of the Division Netherlands, number of homes sold accelerated by 27% Full-year 2025 Full-year 2024 (x € million, unless otherwise indicated) • Revenue increased by 8% to €3.5bn Adj. Adj. Revenue Revenue EBITDA EBITDA • Adjusted EBITDA €250m, reflec
Slide 8: Residential development portfolio (NL)
Residential development portfolio (NL) Strong growth of residential development pipeline to circa 30,000 homes (including Gebroeders Blokland) Some key projects secured in 2025 • In 2025, BAM added circa 5,500 development positions and building rights to the portfolio - Includes key projects like Dr
Slide 9: Division United Kingdom and Ireland
Division United Kingdom and Ireland Royal BAM Group nv FY 2025 results The North Quays Sustainable Transport Bridge, part of the Waterford North Quays Public Infrastructure Project (Ireland) 9
Slide 10: Performance Division United Kingdom and Ireland
Performance Division United Kingdom and Ireland Substantial improvement Construction UK, robust performance Civil engineering UK and Ireland (x € million) Full-year 2025 Full-year 2024 • Revenue increased by 10% Adj. Adj. Revenue Revenue EBITDA EBITDA Construction UK 1,120 31.1 1,049 -27.4 • Adjuste
Slide 11: Financial review
Financial review Royal BAM Group nv FY 2025 results Tennet Borselle Rilland (Civil engineering, Netherlands) 11
Slide 12: Income statement
Income statement Net result of €211 million, reflecting earnings per share of €0.81 (x € million) FY 2025 FY 2024 • Adjusted EBITDA increased by 20% to €400m Division Netherlands 249.6 160.8 Division United Kingdom and Ireland 160.0 114.1 - Supported by the performance of both divisions Germany, Bel
Slide 13: Cash flow
Cash flow Strong liquidity position of €0.9bn, trade working capital stabilised • Strong cash flow from operations of €354 million (x € million) FY 2025 FY 2024 • Trade working capital stable Cash flow from operations 354 284 - TWC efficiency at -11.9% (2024: -11.7%), TWC focus in tenders Cash flow
Slide 14: Financial position
Financial position Solvency solid at 23.4% while returning €116 million to shareholders via dividend and buyback (x € million) FY 2025 FY 2024 • Net cash position increased to €792 million Cash position 883 763 • Shareholders equity €62 million higher Borrowings -91 -67 - Net result of €211 million
Slide 15: Looking ahead
Looking ahead Replace picture with other project Belgium? Royal BAM Group nv FY 2025 results Deleers, Anderlecht (BAM Kairos, BAM Interbuild, Belgium) 15
Slide 16: Order book and market trends
Order book and market trends Order book remained at high level of €13.0bn Order book development (5 year) • Orderbook remained at high level of €13.0bn (2024: €13.0bn) In € million 8000 - Increase of 5% in the division Netherlands 7000 - Decrease of 4% in the division United Kingdom and Ireland expl
Slide 17: Outlook 2026
Outlook 2026 • For 2026, BAM expects to deliver further growth in revenue and adjusted EBITDA Other picture Replace picture Royal BAM Group nv FY 2025 results 17
Slide 18: Key points 2025
Key points 2025 BAM delivers adjusted EBITDA of €400 million in 2025 Dividend proposal of €0.30 per share and announcement of €40 million share buyback FY 2025 versus FY 2024 Revenues Adjusted EBITDA • Revenue increased by 9% to €7.0 billion • Adjusted EBITDA rose by 20% to €400 million (margin of 5
Slide 19: 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 FY 2025 results 19
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