Full Year 2024 Koninklijke BAM Groep NV Earnings Call Transcript
Key Points
- Koninklijke Bam Groep NV (FRA:BGPA) reported an adjusted EBITDA of EUR333 million, reflecting a margin of 5.2%, indicating strong financial performance.
- The company's order backlog increased by 33% to EUR13 billion, showcasing a robust pipeline of future projects.
- A dividend of EUR0.25 per share is proposed, reflecting a 25% increase from the previous year, along with a EUR50 million share buyback plan.
- The company received a CDP Climate A rating for the sixth consecutive time, highlighting its commitment to sustainability.
- The Dutch residential market showed strong performance with an 11% increase in home sales, contributing positively to the company's results.
- Challenges in the UK construction sector, particularly with the Co-op Live project in Manchester, resulted in an adjusted EBITDA loss of EUR48 million.
- The Danish schools projects negatively impacted the company's EBITDA, highlighting ongoing challenges in non-residential construction in Denmark.
- The effective tax rate was unusually low at 6%, which may not be sustainable in the long term, with expectations to rise to 17%-19% in the coming years.
- The divestment of Invesis resulted in a non-cash impairment of EUR107 million due to increased interest rates.
- The UK construction market remains under pressure, with commercial construction facing challenges, impacting overall profitability.
Good morning everyone. I'm Michel Aupers, Investor Relations manager at Royal BAM Group. Welcome to everyone joining this analyst meeting here in Amsterdam or in the audio webcast.
The meeting is hosted by our CEO, Ruud Joosten and our CFO, Frans den Houter. They will give a short presentation on key points of BAM's resales for the full year 2024. Afterwards, we will take your questions.
I will draw your attention on the disclaimer here. Ruud out to you.
Thank you, Michel, and good morning all. Here in the room is also Henri de Pater. In March, he will succeed Frans den Houter as CFO. Here you see the completed Destiny Bridge, the centerpiece of the Cross Tay Link Road project in Scotland, which will ease congestion, unlock development, and create smooth journey for drivers, residents and visitors.
Let's start with the key points over the full year. I'm pleased with
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