Koninklijke BAM Groep (BAMNB) Q1 2026 TU earnings summary

Executive summary

• Revenue and adjusted EBITDA increased year-over-year in Q1 2026, marking a solid start to the year.

• Both divisions and Belgium contributed to higher adjusted EBITDA, with Construction UK showing improved profitability.

• The acquisition of Gebroeders Blokland strengthened the Dutch residential development pipeline to about 30,000 homes.

• Order book remained robust at €13.0 billion, with key project wins in energy transition and defence.

Financial highlights

• Revenue and adjusted EBITDA rose compared to Q1 2025.

• Solvency further improved and cash position remains robust.

• Trade working capital efficiency remained largely unchanged.

Outlook and guidance

• Outlook for 2026 reiterated, expecting further growth in revenue and adjusted EBITDA.

• Strong market opportunities anticipated in energy transition, infrastructure, defence, and sustainable housing.