Annual Report 2009 Royal BAM Group nv

More documents

Recommendations

Info

Construction MAS - Museum aan de Stroom, Antwerp (Belgium). Design: Neutelings Riedijk Architecten, Rotterdam. Interbuild (in joint venture).
Royal BAM Group is active in the construction sector in the Netherlands, Belgium, Germany, the United Kingdom and Ireland. BAM’s operating companies in this sector achieved positive results in 2009. Turnover in the year under review fell to €3,528 million (2008: €3,826 million) and the result before tax dropped to €77.7 million (2008: €144.7 million), which represented a margin of 2.2 percent (2008: 3.8 percent). The year-end 2009 order book stood at €4,468 million (year-end 2008: €5,268 million). In the Construction sector, the Dutch operating companies posted positive, but lower results with a slightly lower turnover compared to 2008. Non-residential construction achieved a lower, though still good result. Owing to the acquisition of a number of substantial contracts in the first half of the year, the order book for non-residential construction is at a higher level than at year-end 2008. Turnover from residential construction dropped sharply compared to the previous year. Nevertheless, residential construction managed to close the year on a small profit. The residential construction order book dropped by almost 30 percent during the reporting year and matches the projected annual turnover. The capacity of the company was gradually adjusted during 2009 to match the changing market situation. At BAM Construct UK, revenue (measured in pounds sterling) rose by three percent compared with 2008. Exchange rate differences meant, however, that revenue in euros was actually reduced. Given the difficult market, the United Kingdom’s contribution to the result for 2009 was good, although less than the excellent contribution last year. Prices for new contracts are under a great deal of pressure, caused by a higher level of competition and in anticipation of an expected cut in government spending following the 2010 elections. Although the order book has diminished, it remains higher than the projected annual turnover. BAM Construct UK was selected for five new framework contracts in 2009. Those framework contracts offer a solid starting position for the coming years. As expected, BAM Deutschland recorded higher profits in 2009 from diminished revenue. BAM Deutschland’s order book is sufficiently large. In Belgium, Interbuild again achieved a good result from reduced revenues. The non-residential construction company very successfully completed a number of projects from previous years during 2009. The volume of the order book decreased compared to the favourable situation at year-end 2008, though it remains at a satisfactory level. 65 2009
Page 2 and 3:
2009 10,000 8,000 6,000 4,000 2,000
Page 4 and 5:
Annual Report 2009 Soccer City foot
Page 6 and 7:
Fire service and ambulance station,
Page 8 and 9:
6 2009 Netherlands Belgium United K
Page 10 and 11:
8 2009 Core of BAM’s strategy Mis
Page 12 and 13:
10 2009 Horseshoe-shaped Saendelft
Page 14 and 15:
12 2009 Stock exchange listing Roya
Page 16 and 17: 14 2009 According to the register o
Page 18 and 19: 16 2009 Information per ordinary sh
Page 20 and 21: 18 2009 The members possess the exp
Page 22 and 23: 20 2009 The Supervisory Board gave
Page 24 and 25: 22 2009 Meeting decided in favour o
Page 26 and 27: 24 2009 External auditor Both in it
Page 28 and 29: 26 2009 Remuneration report The fol
Page 30 and 31: 28 2009 The way in which the remune
Page 32 and 33: 30 2009 Rules governing securities
Page 34 and 35: 32 2009 W.K. Wiechers (1940), Chair
Page 36 and 37: 34 2009 J.A.P. van Oosten (1948), C
Page 38 and 39: 36 2009 Result before tax, excludin
Page 40 and 41: 38 2009 In addition to the movement
Page 42 and 43: 40 2009 Wft declaration In accordan
Page 44 and 45: 42 2009 procedure for appointing me
Page 46 and 47: 44 2009 or candidates the Board and
Page 48 and 49: 46 2009 anonymous list, broken down
Page 50 and 51: 48 2009 third-party bidder to exami
Page 52 and 53: 50 2009 Decision on Article 10 Take
Page 54 and 55: 52 2009 or of depositary receipts i
Page 56 and 57: Temporary steel structure under old
Page 58 and 59: 56 2009 construction partners. A qu
Page 60 and 61: 58 2009 proceedings and of AGIV’s
Page 62 and 63: 60 2009 Rustenburg city centre proj
Page 64 and 65: 62 2009 Construction barometer The
Page 68 and 69: 66 2009 Restoration of Beverweert C
Page 70 and 71: 68 2009 Office complex, 3 Assembly
Page 72 and 73: 70 2009 BAM South Woningbouw Thames
Page 74 and 75: Property Approximately 300 luxury h
Page 76 and 77: 74 2009 BAM City Link Woningbouw of
Page 78 and 79: 76 2009 > Kaïros has been operatin
Page 80 and 81: Civil engineering Pedestrian bridge
Page 82 and 83: 80 2009 BAM Reconstruction Woningbo
Page 84 and 85: 82 2009 BAM Renovation Woningbouw o
Page 86 and 87: 84 2009 BAM Water Woningbouw purifi
Page 88 and 89: 86 2009 BAM Railway Woningbouw viad
Page 90 and 91: St. Peter the Apostle High School (
Page 92 and 93: Mechanical and electrical contracti
Page 94 and 95: Permit procedure for a natural gas
Page 96 and 97: 94 2009 Ukraine, so the local Tebod
Page 98 and 99: 96 2009 8 9 10 11 12 20 21 23 13 14
Page 100 and 101: 98 2009 20 Net result for the year
Page 102 and 103: 100 2009 29 8 9 9, 26 8, 26 28 28 1
Page 104 and 105: 102 2009 3. Summary of significant
Page 106 and 107: 104 2009 3.3 Segment reporting The
Page 108 and 109: 106 2009 Gains and losses on dispos
Page 110 and 111: 108 2009 Contracts containing the c
Page 112 and 113: 110 2009 3.17 Derivative financial
Page 114 and 115: 112 2009 3.20 Deferred taxes Deferr
Page 116 and 117:
114 2009 If a variable interest rat
Page 118 and 119:
116 2009 If the interest rates (EUR
Page 120 and 121:
118 2009 The composition of the exp
Page 122 and 123:
120 2009 5. Critical accounting est
Page 124 and 125:
122 2009 Sector reporting Revenue a
Page 126 and 127:
124 2009 Assets ¹ Netherlands Unit
Page 128 and 129:
126 2009 PPP projects The total pos
Page 130 and 131:
128 2009 Tangible assets on order a
Page 132 and 133:
130 2009 9.1 Goodwill Goodwill pred
Page 134 and 135:
132 2009 10. PPP receivables At 1 J
Page 136 and 137:
134 2009 12. Other financial fixed
Page 138 and 139:
136 2009 Trade receivables and impa
Page 140 and 141:
138 2009 16. Share capital At 1 Jan
Page 142 and 143:
140 2009 19. Borrowings 2009 Subord
Page 144 and 145:
142 2009 The financing expense on c
Page 146 and 147:
144 2009 19.10 Financial lease agre
Page 148 and 149:
146 2009 At 31 December 2009, the G
Page 150 and 151:
148 2009 The actuarial assumptions
Page 152 and 153:
150 2009 The total of employer cont
Page 154 and 155:
152 2009 22. Provisions At 1 Januar
Page 156 and 157:
154 2009 Deferred tax liabilities A
Page 158 and 159:
156 2009 Impairments in 2009 were m
Page 160 and 161:
158 2009 Allowing for dilution, the
Page 162 and 163:
160 2009 33. Commitments At year-en
Page 164 and 165:
162 2009 2009 Property The Group ex
Page 166 and 167:
164 2009 36. Related party transact
Page 168 and 169:
166 2009 38. Service concession arr
Page 170 and 171:
168 2009 40. Research and developme
Page 172 and 173:
170 2009 Notes to the statutory fin
Page 174 and 175:
172 2009 2. Tangible assets At 1 Ja
Page 176 and 177:
174 2009 4. Financial assets At 1 J
Page 178 and 179:
176 2009 The specification of movem
Page 180 and 181:
178 2009 12. Employees During the y
Page 182 and 183:
180 2009 Anti-takeover measures The
Page 184 and 185:
182 2009
Page 186 and 187:
184 2009 Principal subsidiaries and
Page 188 and 189:
186 2009 Revenue Operating result e
Page 190:
188 2009 21 April 2010 General Meet
show all

Annual Report 2009 Royal BAM Group nv

Create successful ePaper yourself

Delete template?

Save as template?