Brief: BAM Groep Says Outcome Of Dutch Authorities Investigation Could Have Material Impact
15/02/2024 06:59
Feb 15 (Reuters) - Koninklijke BAM Groep NV BAMN.AS :
* BAM ACHIEVES ADJUSTED EBITDA OF €304 MILLION IN 2023
* FOR THE STRATEGIC PERIOD 2024-2026, BAM EXPECTS AN
ADJUSTED
EBITDA MARGIN BETWEEN 4 AND 6 PER CENT
* BAM PROPOSES TO PAY A DIVIDEND OVER THE YEAR 2023 OF €0.20
PER
SHARE
* FY NET RESULT OF €175 MILLION, REFLECTING EARNINGS PER
SHARE OF
€0.65 (2022: €0.66)
* FY ORDER BOOK OF €9.8 BILLION
* FY COMBINED REVENUE OF DIVISION NETHERLANDS AND DIVISION
UK AND
IRELAND INCREASED BY 2% TO €6.1 BILLION
* BAM WILL RETURN €30 MILLION TO ITS SHAREHOLDERS VIA A
SHARE
BUYBACK
* OF THE TOTAL ORDER BOOK, €4.9 BILLION IS EXPECTED TO BE
CARRIED
OUT IN 2024
* CURRENTLY, COST INCREASES AND THE RELATIVELY HIGHER
INTEREST
RATES ARE LEADING TO DELAYS OF SOME PROJECT AWARDS
* MARKET CONDITIONS REMAIN CHALLENGING IN THE SHORT-TERM AS
A
CONSEQUENCE OF HIGHER INTEREST RATES, POLITICAL AND GEOPOLITICAL
UNCERTAINTIES AND THE CONTINUED PRESSURE TO ATTRACT AND RETAIN
STAFF
* FINANCIAL TARGETS 2024-2026 : PREDICTABLE PERFORMANCE ON
>EUR 6
BILLION REVENUE
* ON DUTCH AUTHORITIES INVESTIGATION: POTENTIAL ADVERSE
FINANCIAL
IMPACT OF THE OUTCOME OF INVESTIGATION, IF ANY, CANNOT BE
RELIABLY ESTIMATED AT THIS TIME BUT COULD POSSIBLY BE MATERIAL
* FINANCIAL TARGETS 2024-2026 : STRONG CAPITAL RATIO: ABOUT
25 PER
CENT
* FINANCIAL TARGETS 2024-2026 : RETURN TO SHAREHOLDERS:
30-50 PER
CENT OF NET INCOME FROM OPERATIONS FOR DIVIDEND, POTENTIALLY
ADDITIONAL CASH RETURNS VIA SHARE BUYBACKS
Further company coverage: BAMN.AS
(Gdansk Newsroom)
((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))