Dutch construction services business Royal BAM Group has reported continued financial progress in the third quarter of 2025 and reiterated its outlook for adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin of at least 5% for the full year.
Higher revenues in both the Netherlands and UK/Ireland divisions contributed to this sustained performance, said the group. Order booking stood at €12.5bn ($14.4bn) and an improved solvency position.
The Netherlands division generated increased revenue and adjusted EBITDA during the first nine months of 2025 compared with the previous year, primarily driven by nonresidential construction activities.
The company saw an uptick in home sales during the third quarter and expects overall home sales for the year to surpass the 1,854 units recorded in 2024.
Major project awards supported growth, such as a €600m energy and water supply contract in Limburg for Enexis and Waterleiding Maatschappij Limburg and a €240m energy renewal contract in North Brabant for Enexis.
The division also secured a maintenance contract for the Zeeland Bridge in partnership with SPIE Nederland.
In the UK and Ireland, revenue and adjusted EBITDA rose from 2024 levels.
Construct UK made a significant contribution to these results while Civil Engineering UK and Ireland continued to deliver stable outcomes.
BAM’s Scottish operations expanded their specialist workforce by 300 over the past year to support green energy projects with SSEN Transmission and the Eastern Green Link 2 initiative.
The group’s operations in Belgium reported positive results despite strong competition.
The division’s order backlog fell slightly from mid-2025 due in part to currency effects but remained historically strong.
In the third quarter, BAM secured a place on National Grid’s High Voltage Direct Current Major Works & Civils Framework, worth approximately £9bn across six contractors, and continues to pursue opportunities in the education sector.
Royal BAM Group CEO Ruud Joosten said: “Royal BAM Group delivered a strong performance in the first nine months of the year. This was supported by the structurally enhanced performance of the nonresidential construction activities in both divisions.
“The group continued its upward revenue trend in the first half of the year into the third quarter. BAM continues to make progress with the strategy Building a sustainable tomorrow, which is built on the pillars Focus, Transform, and Expand. In order to benefit from the growing demand for affordable and sustainable housing BAM is investing in land and building rights.
“Our well-diversified order book remains strong, supported by our disciplined approach to contract and risk management, and our focus on selecting clients aligned with our sustainability strategy.”
BAM’s cash reserves reportedly remained robust throughout the period.
