Royal BAM Group nv delivered an adjusted EBITDA of €333 million in 2024, reflecting a margin of 5.2%. The order book increased by €3.2 billion (+33%) to €13 billion, driven by both divisions. BAM's cash position and solvency remained solid. BAM proposes to increase the dividend over 2024 by 25% to €0.25 per share and plans to return €50 million to its shareholders via a share buyback. This reflects BAM's strong performance, supported by the cash proceeds of the Invesis divestment. For 2025, BAM expects to deliver an adjusted EBITDA margin around 5%.
• Revenue increased by 3% to €6.5 billion
• Adjusted EBITDA of €333 million (margin of 5.2%)
• Invesis contributed €50 million to adjusted EBITDA, including €20 million earn-out for successfully securing new projects and €31 million reclassification of hedge reserves following agreed divestment of Invesis
• Net result of €82 million includes the impact of a non-cash impairment of €107 million related to the divestment of Invesis. Earnings per share is €0.31 (2023: €0.65)
• Liquidity position remained at €0.8 billion while trade working capital normalised
• Solvency remained solid at 23.0% (2023: 23.4%)
• Order book increased by 33% to €13.0 billion (2023: €9.8 billion)
• Leadership in sustainability confirmed by CDP Climate A rating (6th year) and SBTi validation of enhanced emissions targets and net zero 2050 ambition
Ruud Joosten, CEO
'I'm pleased with our 2024 performance, which reflects the success of our growth strategy and our core strengths in energy transition, transportation, and Dutch residential markets. Nearly all of BAM's activities performed strongly, highlighting the resilience and effectiveness of our business model. We're proud of our progress in sustainability like our CDP Climate A rating earned for the sixth consecutive year. For 2025, we see attractive market opportunities in areas where we have demonstrated market-leading capabilities, and we expect an adjusted EBITDA margin of around 5%.'
Full press release:
https://www.bam.com/sites/bamc/files/2025-02/bam-2025-02-13-q4-2024-en-press-release.pdf
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