BAM Abbreviated Annual Report 2011 - Siteseeing in the world of ...

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116 2011 Ten-year key figures (in € million, unless otherwise indicated) 2011 2010 2009 6 2008 2007 IFRS IFRS IFRS IFRS IFRS Revenue 7,920 7,611 8,324 8,835 8,954 Operating result excluding fines 150.7 (30.3) (68.5) 233.4 340.7 Operating result 150.7 (30.3) (68.5) 233.4 340.7 Result before tax 158.7 26.0 (52.8) 252.5 428.1 Net result attributable to shareholders 126.0 15.3 31.3 161.9 349.0 Net result attributable to holders of ordinary shares 126.0 15.3 31.3 161.9 349.0 Revenue from continuing operations 7,697 7,611 8,324 8,835 8,539 Operating result from continuing operations 135.4 (30.3) (68.5) 233.4 327.2 Result from continuing operations before tax Net result from continuing operations before tax 143.5 26.0 (52.8) 252.5 341.8 attributable to shareholders 113.9 15.3 31.3 161.9 268.3 Earning per ordinary share (in € 1) 7 0.54 0.08 0.18 1.21 2.80 Fully diluted result per ordinary share (in € 1) 7 0.54 0.08 0.18 1.20 2.60 Dividend per ordinary share (in € 1) ² 0.16 0.03 0.10 0.50 0.90 Equity attributable to shareholders 1,162.4 1,099.9 875.0 847.4 993.5 Subordinated loans ³ 200.0 199.9 200.0 200.0 200.0 Preference shares - 1.7 1.7 1.8 23.3 Third-party shareholders AM - - - 49.0 49.0 Convertible subordinated bond loan 3 - - - - - Capital base 1,362.4 1,301.5 1,076.7 1,098.2 1,265.8 Net additions to property, plant and equipment Depreciation/amortisation/impairment of: 57.2 68.5 83.3 89.7 131.7 - Property, plant and equipment 94.9 97.3 93.0 86.0 93.6 - Intangible assets 11.1 10.9 51.3 109.5 7.7 - Other impairments - 127.3 92.7 - - Cash flow before dividend 232.0 250.9 268.3 357.3 450.3 Total impairments - 128.2 134.3 100.0 (1.0) Order book 4 10,400 12,100 11,100 13,100 13,800 Average number of fte 26,639 26,840 28,464 28,544 28,007 Number of fte at year-end 27,007 26,088 27,212 29,050 27,578 Ratios (in %) Result before tax, impairments and fines as % of revenu 5 2.0 2.0 1.0 4.0 4.8 Result before tax and impairment of goodwill as % of revenu 5 Result from continuing operations before tax and impairment 2.0 2.0 (0.2) 4.0 4.8 of goodwill as % of revenue 1.9 0.3 (0.2) 4.0 4.0 Net result as % of revenue 1.6 0.2 0.4 1.8 3.9 Net result as % average equity 11.1 1.6 3.6 17.6 41.4 Capital ratios: - Equity attributable to shareholders as % of total assets 16.1 15.4 12.9 12.6 14.2 - Capital base as % of total assets 18.9 18.2 15.8 16.3 18.1 Current ratio 1.39 1.23 1.21 1.28 1.28 ¹ With effect from 2003, interest on property development has been capittalised; previous year figures are not restated. ² Dividend proposal 2011. ³ Including the current part.
2006 2005 2004 2003 1 2002 IFRS IFRS IFRS NL GAAP NL GAAP 8,646 7,425 7,493 7,770 3,579 Revenue 262.6 235.3 232.7 172.6 75.7 Operating result excluding fines 255.2 235.3 192.7 145.2 75.7 Operating result 228.4 229.9 172.3 112.6 70.2 Result before tax 137.0 153.3 106.4 56.0 46.7 Net result attributable to shareholders 137.0 153.3 91.1 38.2 45.9 Net result attributable to holders of ordinary shares 8,150 7,425 7,493 7,770 3,579 Revenue from continuing operations 237.2 235.3 192.7 145.2 75.7 Operating result from continuing operations 209.8 229.9 172.3 112.6 70.2 Result from continuing operations before tax Net result from continuing operations before tax 124.8 153.3 106.4 56.0 46.7 attributable to shareholders 1.11 1.46 1.06 0.52 0.87 Earning per ordinary share (in € 1) 7 1.04 1.28 0.87 0.45 0.74 Fully diluted result per ordinary share (in € 1) 7 0.45 0.40 0.31 0.31 0.31 Dividend per ordinary share (in € 1) ² 692.6 581.7 435.1 441.1 404.1 Equity attributable to shareholders 150.0 155.1 121.3 125.9 30.5 Subordinated loans ³ 48.2 53.6 - - - Preference shares 49.0 - - - - Third-party shareholders AM - - - 17.4 33.2 Convertible subordinated bond loan 3 939.8 790.4 556.4 584.4 467.8 Capital base 119.2 101.0 92.9 86.0 54.3 Net additions to property, plant and equipment Depreciation/amortisation/impairment of: 96.5 97.6 92.5 134.1 43.5 - Property, plant and equipment 3.4 8.0 2.7 35.4 8.7 - Intangible assets - 1.0 - - - - Other impairments 230.9 259.9 201.6 225.4 98.8 Cash flow before dividend 1.0 16.0 4.0 2.9 - Total impairments 13,100 10,400 8,900 9,100 10,200 Order book 4 28,330 26,914 26,801 29,551 14,972 Average number of fte 30,338 27,190 26,651 26,837 30,588 Number of fte at year-end 2.7 3.3 2.9 2.3 2.2 Ratios (in %) Result before tax, impairments and fines as % of revenu 5 2.6 3.1 2.3 1.9 2.2 Result before tax and impairment of goodwill as % of revenu 5 Result from continuing operations before tax and impairment 2.6 3.1 2.3 1.9 2.2 of goodwill as % of revenue 1.6 2.1 1.4 0.7 1.3 Net result as % of revenue 21.5 37.8 28.2 13.2 29.2 Net result as % average equity 10.7 11.7 9.2 14.1 10.5 Capital ratios: - Equity attributable to shareholders as % of total assets 14.5 15.9 11.7 18.7 12.1 - Capital base as % of total assets 1.16 1.09 0.99 0.92 0.77 Current ratio 4 The orderbook comprises both signed contracts and verbally agreed upon orders. 5 Including goodwill amortisation in the years 2002 and 2003. 6 In 2009 revenu, operating result and order book are adjusted due to IFRIC 12. 7 2009 adjusted for rights issue. 117 2011
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2011 Abbreviated Annual Report
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Key figures (in €million, unless
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Foreword Royal BAM Group nv hereby
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Outlook Royal BAM Group started 201
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Construction and mechanical and ele
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Better results are generally accomp
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2. Optimum exploitation of strength
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24 22 20 18 16 14 12 10 8 6 4 2 0 S
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Dividend policy Dividend policy and
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Report by the Supervisory Board to
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Fotobijschrift: 19 2011
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eported in each case on the state o
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Multipurpose complex for care and s
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and reported to the Supervisory Boa
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27 2011
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to the financial objectives (maximu
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The variable remuneration actually
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The graduated scale shown below app
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The company has no other remunerati
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C.M.C. Mahieu (1959) Ms Mahieu grad
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Financial results Report by the Exe
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Result per ordinary share The numbe
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Oman Botanical Garden, Muscat. BAM
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of €16 million and a super divide
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financial year and the subsequent f
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manner with regard to the other mem
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Sporen in Arnhem: modernisation and
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Approximately 130 metres-high ‘De
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Netherlands with a remaining term m
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N218 Hartel canal cycle bridge (600
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On the one hand, the operating comp
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ensure that it consistently and eff
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carrying out this project but was n
Page 67 and 68: Corporate Social Responsibility Pol
Page 69 and 70: Green walls and roofs of the BSH In
Page 71 and 72: Worker participation European Works
Page 73 and 74: y 7.7 percent in 2012. On the other
Page 75 and 76: Royal BAM Group is active in the co
Page 77 and 78: 18 homes in the Elzenhagen neighbou
Page 79 and 80: The company continued to perform st
Page 81 and 82: Four school buildings for Alfons Ke
Page 83 and 84: Royal BAM Group operates in the Dut
Page 85 and 86: Underground high-voltage link for t
Page 87 and 88: Design of quay wall and mooring jet
Page 89 and 90: Renovation and expansion of Tottenh
Page 91 and 92: Silberberg Railway Tunnel (7.4 kilo
Page 93 and 94: Laela-Sumbawanga road improvement p
Page 95 and 96: The Dutch property activities recor
Page 97 and 98: Redevelopment of a former domestic
Page 99 and 100: 97 2011
Page 101 and 102: BAM PPP is responsible for Royal BA
Page 103 and 104: Tebodin Consultants & Engineers is
Page 105 and 106: Financial statements 2011 104 Conso
Page 107 and 108: Consolidated income statement (x
Page 109 and 110: Consolidated statement of equity (x
Page 111 and 112: Company balance sheet at 31 Decembe
Page 113 and 114: The Supervisory Board shall determi
Page 115 and 116: 113 2011
Page 117: Royal BAM Group nv Royal BAM Group
Page 121 and 122: 119 2011
Page 124: Royal BAM Group nv Runnenburg 9 398
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