The construction group BAM benefited in the first half of this year from the strong demand for housing in the Netherlands. Business also performed well in countries such as Belgium, Germany, the United Kingdom and Ireland. Buitenbeentje is the Dutch infrastructure branch. Due to the rising costs of large projects, this was the only area where things were not in better shape than they were a year ago.

The demand for new homes in the Netherlands is still strong and that works well for BAM. The construction group delivered 1,446 homes in the first six months. In other countries, such as the UK and Ireland, BAM has won several major projects. This not only concerns homes, but also offices, schools and hospitals, for example.

The infrastructure branch also grew rapidly, but this was mainly due to the UK, where the government invested a lot of money in projects to help the economy emerge from the crown crisis. The Dutch side suffered operating losses. The costs of large projects increased, which meant that they could no longer be repaired due to the agreed prices. BAM does not want to comment on what projects these are.

It is also difficult to get new orders for infrastructure in the Netherlands, the company cautions. There is a lot of competition. Furthermore, the lack of a new government also means that investment decisions are postponed.

In total, the turnover amounted to 3.6 billion euros, compared to just under 3 billion in the first six months of the 2020 crown year. The order book is also very full. With € 13.8 billion in new orders, BAM still has the same order value as at the end of last year.

Adjusted operating profit, which excludes items such as taxes, extraordinary expenses and income and exchange differences, amounts to 157.1 million euros. Below the line was a profit of 20 million euros. A year earlier, it had posted a loss of 234.5 million euros.

BAM looks forward to the rest of the year with confidence, but also sees risks. For example, the situation in the crown remains unclear and the construction company is experiencing material delivery problems, but also higher personnel costs due to shortages. The company is also discussing the timing of paying for a series of “significant” damages, which could affect results in the second half of the year. The company declined to comment further on this.