BAM UK delivers steady first half growth

In the UK alone, combined revenue at BAM Nuttall, BAM Construction and the newly-formed BAM Ventures business, which includes property investments, remained steady at around £1bn.

On EBITDA profitability, BAM Construction outperformed the civils business with an 18% uplift to £19m, while BAM Nuttall continued to trade as the biggest UK business by volume with revenue edging up to £515m in the first half of the year.

BAM divisions UK and Ireland
EBITDA H1 22: 21 Revenue H1 22: 21
Construction UK £19m £16m £433m £432m
Civil engineering UK £16m £13m £515m £511m
Ventures UK (incl property) £5m £5.5m £91m £81m
Ireland £5m £6m £297m £227m

Ruud Joosten, CEO of Royal BAM said: “The contribution of Construction UK was impacted by supply chain issues on some larger contracts while civil engineering UK showed a solid performance supported by a high activity level.

He said the newly-established Ventures business, which includes property UK, Ritchies (geotechnical engineering), facility management, site solutions and EV charging solutions, had made a satisfactory start to the year.

The order book for the combined UK and Irish operations declined 7% to £5.15bn.

Major awards in the first half of the year included phase one of Nuneaton town centre’s Abbey Street development and several schools.

BAM was also named a partner for the framework agreements for the Devonport Royal Dockyard 10 Dock refurbishment, Northern Ireland Water’s Major Project Partnership Framework and was reappointed on Manchester Airport Group’s Major Capital Works Framework.

 

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