A net profit margin more than five times bigger than it was in 2017 has been reported by Netherlands-based construction group Bam at 2.1%.
A good year in 2018 was reported overall by the group with revenue for the company up by €673 million to €7.208 billion, generating a profit of €153.2 million before tax.
The CEO of Bam group, Rob van Wingerden, said that 2018 was a year of good progress for the group. “Most of our businesses performed well, which reflected the benefits of ongoing improvements in our tendering and project execution.”
Bam’s civil engineering division, alongside the construction and property sectors, reported strong performances. The order book grew to €12.7 billion by the end of the fourth quarter and was said to be driven by multi-year projects with a firm focus on tender discipline.
Van Wingerden said that the company expected revenue to be around €7 billion in 2019, and hoped the adjusted result before tax margin would be in between 2 to 4%. He went on to say that although Brexit uncertainty remained, the firm is focused on delivering its targets.