schreef:
Calm After The Storm: Royal BAM Group Offers Value At The Bottom Of The Well
Aug. 22, 2014 11:07 AM ET | About: Koninklijke BAM Groep NV (KBAGF)
Disclosure: The author is long KBAGF.
Summary
•Profit warning on July 7, 2014 in relation to one-time item, initial civil engineering project losses estimate €75 million.
•Drop in share price to multi-year low in anticipation of publication half-year results,
results came in better than expected.
•Half-year results published August 21, 2014: final project losses €68 million instead of €75. Company's total results still break-even (€3.9 million) for H1 2014.
Koninklijke BAM Groep NV (OTC:KBAGF) is a European construction group, uniting operating companies in 5 home markets, and headquartered in the Netherlands. The company has its primary listing on Euronext Amsterdam, and is US OTC listed. BAM is active in the sectors construction and mechanical and electrical services, civil engineering, property and public private partnerships.
The Group ranks among the largest companies in Europe, with top market positions in the Netherlands, Belgium, the UK, Ireland and Germany, and a widespread regional network. The Group also undertakes specialist construction and civil engineering projects in niche markets worldwide through BAM International.
With around 25,000 employees,
BAM is responsible for the implementation of thousands of projects every year. Some are spectacular due to their size or technical complexity, but many others are more modest construction contracts.