BAM delivers adjusted EBITDA of €350 million in 2022 and proposes dividend of €0.15 per share

16th February 2023

Royal BAM Group nv meets its financial outlook for 2022, delivering adjusted EBITDA margin of 4.5 per cent excluding the positive result on the Wayss & Freytag Ingenieurbau transaction. The capital ratio further improved to 21.2 per cent. BAM confirms its earlier announced expectation to pay a dividend over the year 2022 and proposes €0.15 per share. 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 performance towards the 2023 strategic targets. 


  • Revenue in Netherlands, United Kingdom and Ireland increased by 2%; total revenue declined by 10% to €6.6 billion due to divestments in Belgium and Germany;
  • Adjusted EBITDA of €350 million (adjusted EBITDA margin of 5.3%); adjusted EBITDA margin excluding €52 million book profit on Wayss & Freytag was 4.5%;
  • Good contribution Dutch residential and further recovery in Dutch civil engineering; in second half-year increased impact of inflation, supply chain issues and project delays on Group result;
  • Net result of €180 million (2021: €18 million), reflecting earnings per share of €0.66 (2021: €0.07);
  • Liquidity position strong at €0.8 billion, after full repayment of Covid-19 deferred VAT and salary tax payments and effect of divestments; revolving credit facility extended to 2026, now also linked to sustainability targets;
  • Capital ratio further improved to 21.2% (year-end 2021: 14.5%);
  • Solid order book of €10.0 billion (2021: €13.2 billion), reduced mainly due to divestments (€2.1 billion), UK government review of regional roads development programme (€0.6 billion) and negative impact of exchange rate (€0.3 billion).


For the full press release click here.

Filed Under:   Financial Results, Royal BAM Group

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