Dutch giant’s income goes past €7bn mark

An improved performance from its UK building and civil engineering businesses helped Dutch contractor Bam past the €7bn (£5.8bn) turnover mark last year.

Income was up 7% to €7.3bn (£6bn) with the firm’s UK business posting a combined turnover of just over €2.3bn (£1.9bn).

bam nuttall

The group’s Bam Nuttall civils arm saw revenue jump more than a third to just over £1bn last year

The firm’s civil engineering arm, Bam Nuttall, saw revenue jump from €974m (£814m) to €1.3bn (£1.08bn) helped by its work on the HS2 railway where it is part of a Kier team  building the line in the Chilterns.Earnings at the UK arm were up three quarters to €41m (£34m).

And income at its construction and property arm, which signed a £250m deal to build a new arena in the shadow of Manchester City’s Etihad stadium last year, was also up from €894m (£747m) to €1.06bn (£885m) with the firm shrugging off the impact of a problem university scheme in Sheffield the year before.

Full year earnings from the construction arm were €31m (£26m) from 2020’s €4.3m (£3.6m).

The group said it reported adjusted earnings of €278m (£232m) but restructuring and amortisation costs dragged the number down to €18.1m (£15m) – though this was still a return to the black from last year’s loss of €122m (£102m).