Koninklijke BAM Groep (BAMNB) Q3 2026 TU earnings summary

Executive summary

• Strong first-nine-month performance, with higher profitability in both divisions YoY, supported by selective growth in high-demand markets and disciplined tendering and cost control.

• Order book remained high at €13.0bn, with focus on quality over volume and improving earnings visibility from longer-term frameworks and partnerships.

Financial highlights

• Netherlands and UK & Ireland delivered higher revenue and adjusted EBITDA than in the same period of 2025.

• Trade working capital developed favourably, driven by UK & Ireland; cash remained robust and solvency improved versus mid-year 2026.

Outlook and guidance

• FY 2026 adjusted EBITDA margin guidance reiterated at at least 6.5%.

• Attractive opportunities cited in energy and water transition, infrastructure, defence and housing; government programmes support markets in the Netherlands, UK, Ireland and Belgium.

• 2027–2029 strategy update planned for Capital Markets Day on 22 March 2027.