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BAM reports solid third Quarter and reiterates full year Outlook Featured

First nine months 2020 trading update

Royal BAM Group nv reports for the first nine months of 2020 an adjusted loss before tax of €81.8 million, which is a €51.7 million improvement versus the first half year result. The cash position and the order book remained solid. During the third quarter, the situation regarding Covid-19 was generally stable. BAM maintains its outlook of a positive adjusted result before tax for the second half of the year, although the Covid-19 situation still causes uncertainty:

  • Both business lines improved performance in third quarter after being hit hard in second quarter by Covid-19
  • Revenue of €1.7 billion in third quarter 2020, in line with comparable period 2019
  • Adjusted result before tax of €51.7 million in third quarter 2020, a margin of 3.0%
  • Programme to structurally lower BAM’s cost base by €100 million initiated; first benefits in 2021
  • Cash position remained strong at €1.2 billion, which includes fully drawn €400 million revolving credit facility
  • Capital ratio improved to 12.6%
  • Order book at €13.3 billion, stable versus mid-year 2020

Source: Royal Bam Group

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