Koninklijke BAM Groep (BAMNB) investor relations material

Executive summary

• Revenue rose 3% year-over-year to €3.5 billion, with both divisions contributing to growth.

• Adjusted EBITDA increased 36% to €240 million, margin up to 6.9%.

• Net result up 25% to €127 million; EPS at €0.49.

• Strong cash position at €715 million and order book at €12.6 billion.

• Strategic acquisitions and project wins in the Netherlands and UK support future growth.

Financial highlights

• Adjusted EBITDA margin improved to 6.9% from 5.2% year-over-year.

• Cash flow from operations at €211 million; cash and cash equivalents at €715 million.

• Solvency at 22.9%, return on average capital employed at 19.2%.

• Trade working capital efficiency improved to -12.5% from -11.9% at year-end 2025.

• Effective tax rate increased to 18% from 10% in H1 2025.

Outlook and guidance

• Full-year 2026 adjusted EBITDA margin expected at least 6.5%.

• Dutch order book up 7% to €6 billion; UK & Ireland order book at €6.1 billion, with major awards expected in H2.

• Continued focus on order book quality, selective tendering, and risk management.

• Market demand supported by energy transition, infrastructure, and defense investments.

• Home sales for 2026 expected in line with 2025.