Slide 1: Annual results 2024
Annual results 2024 BAM delivers adjusted EBITDA of €333 million in 2024 Dividend proposal of €0.25 per share and announcement of €50 million share buyback 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
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 2024
Key points 2024 BAM delivers adjusted EBITDA of €333 million in 2024 Dividend proposal of €0.25 per share and announcement of €50 million share buyback FY 2024 versus FY 2023 Revenues Adjusted EBITDA • Revenue increased by 3% • Adjusted EBITDA of €333m (margin of 5.2%) €6,455m €6,270m €333.3m €304.3
Slide 5: Strategic development in 2024
Strategic development in 2024 Advanced to the next phase of our strategy 2024-2026 Focus, Transform and Expand • Focus: Emphasis on profitability and key clients and divestment remaining 50% of Invesis to PGGM • Transform: Driving innovation with the opening of Flow factory for modular sustainable w
Slide 6: Division Netherlands
Division Netherlands Royal BAM Group nv FY 2024 results Installation of Flow homes on site 6
Slide 7: Performance Division Netherlands
Performance Division Netherlands All Dutch activities performed strong; results impacted by Danish school projects Full-year 2024 Full-year 2023 (x € million, unless otherwise indicated) • Revenue increased by 7% to €3.2bn Revenue Result Revenue Result Construction and Property 2,255 85,7 2,072 111.
Slide 8: Division United Kingdom and Ireland
Division United Kingdom and Ireland Royal BAM Group nv FY 2024 results Aberaeron Coastal Defence Scheme 8
Slide 9: Performance Division United Kingdom and Ireland
Performance Division United Kingdom and Ireland Strong contribution Civil Engineering, Ventures and Ireland while Construction UK disappointed (x € million) Full-year 2024 Full-year 2023 • Revenue stable versus FY 2024, higher revenues in Revenue Result Revenue Result Civil engineering UK and lower
Slide 10: Financial review
Financial review Royal BAM Group nv FY 2024 results BAM Kilsyth office, United Kingdom 10
Slide 11: Income statement
Income statement Net result of €82 million, reflecting earnings per share of €0.31 (x € million) FY 2024 FY 2023 • Adjusted EBITDA increased by 10% to €333m, including Division Netherlands 160.8 179.0 €20m earnout for successfully securing new projects and Division United Kingdom and Ireland 114.1 1
Slide 12: Cash flow
Cash flow Liquidity position remained at €0.8bn while trade working capital normalised (x € million) FY 2024 FY 2023 • Cash flow from operations further improved • Trade working capital bottomed out in H2 2024 Cash flow from operations 284 276 Cash flow from working capital 3 -99 - TWC efficiency at
Slide 13: Financial position
Financial position Solvency solid at 23.0% while returning €92 million to shareholders via dividend and buyback (x € million) FY 2024 FY 2023 • Net cash position in line with 2023 Cash position 763 757 • Shareholders equity slightly decreased Borrowings -67 -62 - Payment of dividend (-26m) and share
Slide 14: Looking ahead
Looking ahead Royal BAM Group nv FY 2024 results Entrance Rubenshuis, Antwerp 14
Slide 15: Order book and market trends
Order book and market trends Order book increased by €3.2bn (+33%) to €13 billion Order book development • Substantial increase of order backlog to €13.0bn (2023: €9.8bn) 8000 - Increase of 7% in the division Netherlands 7000 - Increase of 58% in the division United Kingdom and Ireland 6000 5000 • C
Slide 16: Outlook 2025
Outlook 2025 • For 2025, BAM expects to deliver an adjusted EBITDA margin of around 5%, which is in the middle of the target range for the strategic period 2024-2026 Other picture Replace picture Royal BAM Group nv FY 2024 results New electric roadbuilding machine, BAM Infra Netherlands 16
Slide 17: Key points 2024
Key points 2024 BAM delivers adjusted EBITDA of €333 million in 2024 Dividend proposal of €0.25 per share and announcement of €50 million share buyback FY 2024 versus FY 2023 Revenues Adjusted EBITDA • Revenue increased by 3% • Adjusted EBITDA of €333m (margin of 5.2%) €6,455m €6,270m €333.3m €304.3
Slide 18: Annex: Performance on half-year basis
Annex: Performance on half-year basis Full year Full year Revenue / Adjusted EBITDA 2024 H2 2024 H1 2024 2023 H2 2023 H1 2023 EUR x 1 m Division Netherlands Revenue Construction and Property 1 2.255 1.192 1.063 2.072 1.110 962 Civil engineering 1.005 559 446 964 564 400 Other including eliminations
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 2024 results 19
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