BAM soars on 'solid' EBITDA, outlook reassurance
16/02/2023 09:35
** Shares in BAM Group BAMN.AS soar over 11%, heading for
their best day since March 24 and trading at mid-Sept. highs
** The Dutch construction firm's FY adj. EBITDA rises to
350.2 million euros ($374.68 million)
** Tijs Hollestelle from ING notes the solid EBITDA
performance, and EBITDA margin of 4.5%
** "Above all a comforting outlook statement on 2022, above
our and consensus polls," he adds, "all this in tough market
environments in both the Netherlands and the United Kingdom"
** "We expect the share price to respond positively to the
strong FY22 EBITDA number, the dividend announcement, the solid
balance sheet metrics," Hollestelle adds
** BAM proposes a dividend of 0.15 euro per share, and says
is on track to deliver a performance towards 2023 strategic
targets
($1 = 0.9347 euros)
(Reporting by Vittorio Maresca di Serracapriola)
((Vittorio.MarescadiSerracapriola@thomsonreuters.com))