BAM rises on H1 beat, FY outlook

Koninklijke BAM Groep NV

18/08/2022 09:29

** Shares in BAM  BAMN.AS  rise 7.1% to 2.67 euros, on track
for their best day since mid-March 
    ** Dutch construction firm's H1 EBITDA up 16% year-on-year
at 182 million euros and 10% above consensus
    ** Also raises full-year forecast
    ** Tijs Hollestelle from ING notes the more concrete
predictions the group provides, with FY adjusted EBITDA outlook
raised to at least 4% vs 3.8% previously, the more healthy BAM's
liquidity position looks 
    ** "Absence of significant losses on projects from the past,
and two positive claim settlements add to the positive
sentiment," the broker adds
    ** BAM says it expects to pay a dividend in 2022 and is
committed to its 2023 objectives
    

 (Reporting by Olivier Cherfan)
 ((olivier.cherfan@thomsonreuters.com))