Koninklijke Bam Groep Nv · EURONEXT:BAMNB
Koninklijke Bam Groep Nv — Royal BAM Group — FY2022 Earnings Presentation
26 slides from Koninklijke Bam Groep Nv's earnings presentation, Feb 16, 2023
Slide 1: Annual results 2022
Annual results 2022 BAM delivers adjusted EBITDA of €350 million in 2022, and proposes dividend of €0.15 per share Ruud Joosten Frans den Houter CEO CFO Amsterdam, the Netherlands, 16 February 2023
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: Fotografie: Evabloem
Fotografie: Evabloem
Slide 4: Key points 2022
Key points 2022 Adjusted EBITDA improved to €350m, proposal to pay dividend of €0.15 per share FY 2022 versus FY 2021 • Revenue in Netherlands, UK and Ireland increased by 2%, total Revenues Adjusted EBITDA revenue declined by 10% due to divestments €6,618m €7,315m €350.2m €278.4m • Adjusted EBITDA
Slide 5: Strategic development in 2022
Strategic development in 2022 Reshaping portfolio and investments in sustainable solutions Portfolio: de-risking and business improvement initiatives • Divestment BAM Galère and BAM Contractors, both in Belgium, and Wayss & Freytag Ingenieurbau in Germany • Launch new operating model per 1 January 2
Slide 6: Key performance indicators
Key performance indicators Further progress in 2022, on track for 2023 2022 2021 2020 Target 2023 • Adjusted EBITDA margin of 4.5% (2021: 3.8%) Adjusted EBITDA margin * 4.5% 3.8% 2.9% Approx. 5% • Revenue of activities in the Netherlands, UK and Ireland Revenue €6 6bn €7.3 bn €6.8 bn Approx. €5.5bn
Slide 7: Division Netherlands
Division Netherlands Royal BAM Group nv FY 2022 results BAM continues to invest in electric equipment. 7
Slide 8: Performance division Netherlands
Performance division Netherlands Improved performance Civil engineering, solid contribution of residential (x € million, unless otherwise indicated) Full-year 2022 Full-year 2021 • Revenue stable at €2.9bn Revenue Result Revenue Result Construction and Property 1,978 105.5 2,015 144.8 • Adjusted EBI
Slide 9: Division United Kingdom and Ireland
Division United Kingdom and Ireland Royal BAM Group nv FY 2022 results Dawlish Sea Wall – BAM Nuttall. 9
Slide 10: Performance division United Kingdom and Ireland
Performance division United Kingdom and Ireland Contribution Construction UK improved; Civil engineering UK impacted by supply chain issues (x € million) Full-year 2022 Full-year 2021 Revenue Result Revenue Result • Revenue increased by 5% versus FY 2021, in Ireland Construction UK 1,062 35.6 988 28
Slide 11: Financial review
Financial review Royal BAM Group nv FY 2022 results Dendermonde Prison accommodates 444 inmates in four separate building sections – Invesis, BAM Interbuild and BAM FM. 11
Slide 12: Income statement
Income statement Net result improved substantially to €180 million (2021: €18 million) (x € million) FY 2022 FY 2021 • Adjusted EBITDA of €350m, +26% versus FY 2021 Division Netherlands 172.5 139.8 Division United Kingdom and Ireland 81.6 89.2 • Germany, Belgium and International includes €52m resul
Slide 13: Invesis – Global investor developer in sustainable infrastructure
Invesis – Global investor developer in sustainable infrastructure Solid operational performance and healthy bidding pipeline Solid portfolio performance • 48 PPP projects / platform investments (FY 2021: 47), of which 5 under Invesis portfolio construction • Financial close on Egied van Broeckhoven
Slide 14: Cash flow
Cash flow 1 Strong cash flow from operations, solid cash position (x € million) 2022 FY 2021 FY • Strong cash flow from operations Cash flow from operations • Working capital increased 246 222 Working capital -466 142 - Early and full repayment of Covid-19 deferred VAT and Provisions and Pensions 24
Slide 15: Financial position
Financial position Strong improvement of capital ratio and of return on average capital employed (x € million) FY 2022 FY 2021 • Net cash position lower versus year-end 2021 Cash position 841 1,285 - Trade working capital increased, still at good level of -15.8% Interest-bearing debt -53 -66 (2021:
Slide 16: BAM’s sustainability strategy
BAM’s sustainability strategy Royal BAM Group nv FY 2022 results 16
Slide 17: Contributing to Sustainable Development Goals (SDGs)
Contributing to 8 Sustainable Development Goals (SDGs) • BAM’s sustainability themes aligned with United Nations Sustainable Development Goals (SDGs). • UN SDGs provide blueprint for peace and prosperity for people and planet, now and into the future. • BAM has selected eight SDGs that BAM can most
Slide 18: Looking ahead
Looking ahead Royal BAM Group nv FY 2022 results High-quality residential complex with 600 studio apartments for working youth and a green entrance for social concept developer Change=, Leidsche Rijn, Utrecht – BAM Wonen 18
Slide 19: Order book and market trends
Order book and market trends Solid order book, BAM well positioned while market conditions are mixed Order book development • Solid order backlog of €10bn (2021: €13.2bn), of which €5.1bn to be carried out in 2023 7000 6000 - Reduction of €2.1bn due to divestment of subsidiaries 5000 - Reduction of
Slide 20: Outlook 2023
Outlook 2023 • BAM is in good shape to benefit from its strong market positions and structural growth opportunities. • 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 pe
Slide 21: Key points 2022
Key points 2022 Adjusted EBITDA improved to €350m, proposal to pay dividend of €0.15 per share FY 2022 versus FY 2021 • Revenue in Netherlands, UK and Ireland increased by 2%, total Revenues Adjusted EBITDA revenue declined by 10% due to divestments €6,618m €7,315m €350.2m €278.4m • Adjusted EBITDA
Slide 22: Annexes
Annexes Strategy: roadmap 2021-2023 Performance divisions Netherlands and UK and Ireland on half-year basis Royal BAM Group nv FY 2022 results 22
Slide 23: Strategy 2021-2023: Building a sustainable tomorrow
Strategy 2021-2023: Building a sustainable tomorrow Focus on profitable Continue Accelerate opportunities growth platform de-risking for future growth • Platform for growth • Market choices • Towards process and • Manage for value • Avoid disproportionate product leadership risk in project portfolio
Slide 24: Performance on half-year basis
Performance on half-year basis Full year Full year Revenue / Adjusted EBITDA 2022 H2 2022 H1 2022 2021 H2 2021 H1 2021 EUR x 1 m Division Netherlands Revenue Construction and Property [1] 1,978 1,014 964 2,015 1,018 997 Civil engineering 967 531 436 950 509 441 Other, eliminations and miscellaneous
Slide 25: 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 2022 results 25
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