Royal BAM Group

Last updated
Royal BAM Group nv
Native name
Koninklijke BAM Groep nv
FormerlyN.V. Bataafsche Aanneming Maatschappij van Bouw- en Betonwerken v/h Firma J. van der Wal en Zoon (1928-1971)
Company type Public ( Naamloze vennootschap )
Euronext:  BAMNB
Industry Construction
Founded1869
Headquarters Bunnik, Netherlands
Key people
Ruud Joosten (CEO), Henk Rottinghuis (Chairman of the Supervisory Board)
Revenue€7,315 million (2021) [1]
€278.4 million (2021) [1]
€18.1 million (2021) [1]
Number of employees
15,739 (FTE, average 2021) [1]
Website www.bam.com

Royal BAM Group nv (Dutch : Koninklijke BAM Groep nv) is a Dutch construction-services business with headquarters in Bunnik, Netherlands. Based on revenue it is the largest construction company in the Netherlands. [2]

Contents

History

The company was founded by Adam van der Wal as a joiner's shop in 1869 in Groot-Ammers - a rural village in the Alblasserwaard region to the east of Rotterdam. [3] At the end of the 19th century, Adam's son, Jan van der Wal, took over the business and worked as a construction contractor not only in the Alblasserwaard region but at further afield locations, including Vlaardingen and The Hague, where he soon opted to relocate to. Jan's son, Joop van der Wal, studied civil engineering in Delft prior to joining his father’s company in 1926. [4]

During 1927, the business was renamed Bataafsche Aanneming Maatschappij van Bouw- en Betonwerken, in English, Batavian Construction Company for Construction and Concrete Projects plc. ('BAM'); it transitioned from being a family-owned firm into a ‘naamloze vennootschap’ (public limited company). [4] In the interwar period, BAM undertook several large-scale projects, including the office building of the Batavian Petroleum Company in The Hague, the broadcaster AVRO's Amsterdam headquarters, a KEMA laboratory in Arnhem, the Blijdorp Zoo in Rotterdam, and the conversion of Soestdijk Palace on behalf of Princess Juliana and Prince Bernhard. To support these works, area offices were establish in Arnhem (1933) and Amsterdam (1934). [4]

During the Second World War BAM's activities were badly harmed by the German occupation of the Netherlands. [4]

The company was listed on the Amsterdam Stock Exchange in 1959. [3] Starting in 1973, the company traded under the name BAM Holding N.V. During 1973, BAM also adopted its iconic cube-shaped logo. [4]

When the company reached its 125th anniversary on 12 May 1994, it received the right to add 'Royal' to its name. It continued to expand through acquisition, such as its purchase of rival companies Interbuild (in 1998), [5] [6] and Hollandsche Beton Groep ('HBG') (in 2002). [7] [8]

In November 2006 Royal BAM issued a profit warning, and launched an investigation into the incurring of £78m of losses at its German construction subsidiary. [9] In July 2008, HBG was rebranded as Bam Construct UK. [10] [11] In mid-2010 the company's share price was impacted by a rights issue. [12] [13]

Several times during the 2010s Royal BAM produced poor fiscal results, attributed as the cause of job losses and a restructuring effort being launched in 2014. [14] [15] While performance had reportedly recovered in the UK by 2016, [16] [17] losses in both Germany and the Middle East were stated to have been incurred by the business towards the end of the decade. [18]

In July 2020, Royal BAM announced that it was winding down its 600-strong BAM International business due to consequences of the COVID-19 pandemic. [19] [20] Up to 150 jobs were also to be cut at BAM Construct UK. [21] In September 2021 Royal BAM announced the sale of its German interests, which cumulatively produced an annual turnover of €500 million, to the German real estate and construction company Zech Group and the Gustav Zech Foundation. [22] [23] Around this time, the management opted to concentrate on its core businesses in the UK, Ireland and the Netherlands. [24] [25]

In October 2022, Dutch authorities (the Fiscal Information and Investigation Service and the Public Prosecution Service) visited BAM International bv offices in Gouda, in an investigation relating to potential irregularities at some completed projects; Royal BAM was "fully cooperating" with the investigation. [26] In July 2024, Royal BAM reported its UK construction business had suffered a £19.5m loss due to problems at Manchester's Co-op Live Arena, and would be cutting further jobs. [27]

Operations

Construction equipment from Koninklijke BAM Groep in Madurodam in typical green-orange livery BAM groep aan het werk madurodam.jpg
Construction equipment from Koninklijke BAM Groep in Madurodam in typical green-orange livery

The company's major operations include: [28]

Major projects

Road Construction by BAM Groep AsfalterenN346.jpg
Road Construction by BAM Groep
BAM towercrane in Groningen GroningenBAM.JPG
BAM towercrane in Groningen

Projects completed by the company include the Amsterdam Arena football stadium for AFC Ajax in Amsterdam completed in 1996, [29] the Antwerp Law Courts completed in 2005 [30] and the Euroborg football stadium for FC Groningen in Groningen completed in 2006. [31] The company was part of the Infraspeed consortium which handed over the HSL-Zuid high-speed railway line for commercial use in 2009. [32]

The company is also responsible for the new children's hospital in Dublin which is facing significant time and cost overruns. [33] [34] [35]

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References

  1. 1 2 3 4 "Annual Report 2021". Koninklijke BAM Groep. Retrieved 23 November 2022.
  2. ↑ Published by Lars Kamer (9 January 2020). "• Netherlands: biggest construction companies based on revenue 2017". Statista. Retrieved 20 February 2020.
  3. 1 2 "History". Royal BAM Group. Archived from the original on 16 December 2010.
  4. 1 2 3 4 5 "History". Royal BAM Group. Retrieved 3 August 2024.
  5. ↑ "Company profiles: Interbuild". NBM-Amstelland. 2000. Archived from the original on 10 July 2011.
  6. ↑ "BAM buys NBM's construction arm". Hebels. 1 September 2000. Archived from the original on 24 July 2011.
  7. ↑ "Royal BAM NBM completes takeover of HBG". Europe Real Estate. 15 November 2002. Archived from the original on 10 July 2011.
  8. ↑ "HBG chief leaves following restructure at parent BAM". building.co.uk. 23 April 2004.
  9. ↑ Cushnie, Lorraine (23 November 2006). "Royal BAM posts profit warning". building.co.uk.
  10. ↑ Rogers, David (29 July 2008). "HBG rebrands as Bam". Construction News. Retrieved 28 June 2024.
  11. ↑ "Royal Bam Group to rebrand HBG and Edmund Nuttall". building.co.uk. 1 August 2008.
  12. ↑ LOWERY, DAVE (1 June 2010). "BAM parent company in £216m cash call". constructionnews.co.uk.
  13. ↑ Glackin, Michael (1 June 2010). "Cut price rights issue sinks Royal Bam share price". building.co.uk.
  14. ↑ Pitt, Vern (8 October 2014). "Royal Bam axes 650 jobs". building.co.uk.
  15. ↑ Withers, Iain (11 August 2014). "Royal Bam reassures investors after share price fall". building.co.uk.
  16. ↑ Withers, Iain (18 February 2016). "Royal Bam back in the black". building.co.uk.
  17. ↑ Champ, Hamish (23 August 2018). "Bam sees UK profits rise". building.co.uk.
  18. ↑ Champ, Hamish (21 February 2020). "Royal Bam's profit halves in 2019". building.co.uk.
  19. ↑ PRICE, DAVID (3 July 2020). "Royal Bam suffers £133m half-year loss as coronavirus bites". constructionnews.co.uk.
  20. ↑ Rogers, Dave (6 July 2020). "Covid-19 blamed as losses pile up at Royal Bam". Building. Retrieved 6 July 2020.
  21. ↑ Weinfass, Ian (6 July 2020). "Bam Construct axes up to 150 jobs". Construction News. Retrieved 6 July 2020.
  22. ↑ Rogers, Dave (10 September 2021). "Bam offloads German business". building.co.uk.
  23. ↑ PRICE, DAVID (9 September 2021). "Royal Bam sells German arm as it sharpens UK focus". constructionnews.co.uk.
  24. ↑ Rogers, Dave (26 November 2021). "Bam rejigs group structure to focus on growing UK business". building.co.uk.
  25. ↑ KNOTT, JONATHAN (17 February 2023). "Bam sees rising UK revenue despite civils challenges". constructionnews.co.uk.
  26. ↑ "Dutch authorities investigate Bam projects". The Construction Index. 17 October 2022. Retrieved 17 October 2022.
  27. ↑ Morby, Aaron (25 July 2024). "BAM plans wave of job cuts at UK Construction arm". Construction Enquirer. Retrieved 25 July 2024.
  28. ↑ "Organisation | Koninklijke BAM Groep / Royal BAM Group". Bam.com. Retrieved 2020-02-20.
  29. ↑ "The making of Amsterdam Arena" (PDF). amsterdamarena.nl. Archived from the original (PDF) on 3 December 2010.
  30. ↑ "Antwerp Law Courts (Interbuild are part of Royal BAM Group)". richardrogers.co.uk. Archived from the original on 19 July 2011.
  31. ↑ "10 million euro orders for Olympic Stadium in Berlin and Euroborg Stadium in Groningen". imtech.eu. 8 April 2004. Archived from the original on 28 December 2010.
  32. ↑ "HSL-Zuid Organisation". hslzuid.nl. Archived from the original on 14 February 2008.
  33. ↑ Kelleher, Olivia (6 October 2024). "National children's hospital: Construction firm BAM commits to June completion date". The Irish Times.
  34. ↑ "Cost of children's hospital could top €2bn, cttee told". 2023-07-12.
  35. ↑ Wall, Martin (14 January 2019). "Oireachtas to begin hearings into soaring cost of National Children's Hospital". The Irish Times.
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