In announcing the group’s results in 2020, the company reported better deals in the second half of the year, both in the UK civil and construction business as work and orders were received after the first Covid closure.
The UK order has recovered over the past few months with major project orders in both infrastructure and building operations, and the company reports that downtime has been minimal since the launch of a new UK/EU trade agreement.
However, the problem at Sheffield University, where BAM had to tear off the concrete frame of the 65m Department of Social Sciences project during the summer, paid off last year for the construction sector, which fell 2.9m in deficit. .
The division’s sales also declined 16 percent to $855 million.
Royal BAM Group CEO Ruud Joosten said that the end of the period for Covid-19 and the UK/EU transition has led to increased UK competition.
“Public sector clients have a mixed picture of the private sector as they continue to compete for key new frameworks for health and education,” Joosten said.
Nonetheless, BAM recently secured large orders for the Salford Royal Hospital project under the Procure22 Health Framework and Sky Studios Elstree, the world’s most sustainable film and TV studio.
Civil engineering in 2020 was less affected by the Covid-19 blockade compared to construction and real estate and is currently the largest of the two UK operations.
Additional costs for working methods and supply chain adjustments fell 46% to 10.7 million, with revenues increasing by 11% to 844 million.
Civil orders increased by 700m or 24% with the help of HS2 and SMART Motorways programs.
Announcing Royal BAM’s new strategic plan by 2023 and running a major cost reduction program, Joosten said, “BAM will focus on growing its business in the Netherlands, the UK and Ireland.
“This is BAM’s largest market so far.
“In these countries, BAM starts with the construction and real estate sector (and top 3 positions in the civil engineering business and a strong and growing position in the Public Private Partnership (PPP)).
“In the UK, the expected growth in all infrastructure sectors is intensifying.
“In December, the government released a construction playbook explaining how it works with the construction sector to ensure that public sector work is delivered faster, better, and greener.
“As a leader in UK construction, BAM will support the UK’s recovery from the epidemic and its progress towards a net zero carbon.”
The entire Royal BAM Group lost 260 million to 5.9 billion in sales in 2020, a 6% decline.
Joosten said: “Today we are announcing a new strategy for 2021-2023, building a sustainable tomorrow.
“Under this initiative, the Group will restructure its business portfolio to focus on markets and projects that can leverage its proven competitiveness and meet the growing demand for sustainable solutions in the construction sector while also significantly lowering its project risk profile.
“BAM is a client and service oriented business that will structurally improve the profitability and predictability of the group. As a first step, we have a cost reduction program targeting 100 million per year.
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