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

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Construction and mechanical and electrical services Key figures for the construction and mechanical and electrical services sector (x €million) 2011 2010 Revenue 3,389 3,459 Result before tax 76.2 102.6 Margin before tax 2.2% 3.0% Order book (year-end) 4,440 5,013 New-build and conversion of Friesland Provincial Government Building, Leeuwarden, the Netherlands. BAM Utiliteitsbouw (in joint venture), BAM Techniek.
Royal BAM Group is active in the construction and mechanical and electrical services sector in the Dutch, Belgian, British, Irish and German markets. In addition to carrying out non-residential construction works in all the home markets, BAM operating companies also carry out residential construction contracts (mainly in the Netherlands, Belgium and Germany). BAM International also carries out non-residential construction projects in the Middle East and Indonesia in particular. Given the difficult market circumstances, the Dutch operating companies in the construction and mechanical and electrical services sector achieved a good result from increased revenues in 2011. The revenues in nonresidential construction, residential construction and mechanical and electrical contracting increased compared to 2010. A number of organisational adjustments were made in different places in the second half of the year, however, with a view to expected ongoing difficulties on the markets. The cooperation between BAM Techniek and other BAM companies results in valuable synergies which are of great benefit for the successful realisation of multidisciplinary, comprehensive projects. This process is being reinforced by the sectoral restructuring announced in November, whereby the mechanical and electrical contracting sector was combined with construction to form the construction and mechanical and electrical services sector from the start of 2012. Generating higher revenues, the Dutch operating companies in the construction and mechanical and electrical services sector recorded a good result in 2011, given the adverse market conditions. Revenues in non-residential construction, residential construction and mechanical and electrical contracting increased in comparison with 2010. Nevertheless, the organisation was adjusted in several places in the second half of the year in view of the expected continuation of difficult market conditions. In 2011, revenues in the United Kingdom, expressed in pounds sterling, fell by nearly 11 percent in comparison with 2010. The margin realised was also lower. BAM Construct UK took significant measures in the second half of 2011 to align the organisation with the lower revenue level expected for the coming years. BAM Deutschland recorded higher revenues and a higher result than in 2010. Despite the selective contracting policy, the order book is healthy. As a result, prospects for the coming year are good. In Belgium, lower revenues were realised at a margin comparable to that in 2010. However, revenues showed an upward quarter on quarter trend and the year-end order book was healthy. As a result, revenues are expected to approximately double in 2012. 73 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
Page 23 and 24: eported in each case on the state o
Page 25 and 26: Multipurpose complex for care and s
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Page 31 and 32: to the financial objectives (maximu
Page 33 and 34: The variable remuneration actually
Page 35 and 36: The graduated scale shown below app
Page 37 and 38: The company has no other remunerati
Page 39 and 40: C.M.C. Mahieu (1959) Ms Mahieu grad
Page 41 and 42: Financial results Report by the Exe
Page 43 and 44: Result per ordinary share The numbe
Page 45 and 46: Oman Botanical Garden, Muscat. BAM
Page 47 and 48: of €16 million and a super divide
Page 49 and 50: financial year and the subsequent f
Page 51 and 52: manner with regard to the other mem
Page 53 and 54: Sporen in Arnhem: modernisation and
Page 55 and 56: Approximately 130 metres-high ‘De
Page 57 and 58: Netherlands with a remaining term m
Page 59 and 60: N218 Hartel canal cycle bridge (600
Page 61 and 62: On the one hand, the operating comp
Page 63 and 64: ensure that it consistently and eff
Page 65 and 66: 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: y 7.7 percent in 2012. On the other
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
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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
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Page 117 and 118: Royal BAM Group nv Royal BAM Group
Page 119 and 120: 2006 2005 2004 2003 1 2002 IFRS IFR
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Royal BAM Group nv Runnenburg 9 398
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