OE10 Financiële
rapportages
Robert de Waard 686788
Dennis Boots 691801
1E
21/01/2022
, Koninklijke BAM Groep nv
Integrale bedrijfsanalyse
Door: Robert de Waard 686788
Dennis Boots 691801
Opleiding: Bachelor Business Studies, Finance & Control en Accountancy
Vak: OE10 Financiële rapportages
Docent: Remco van der Pijl
Thema: Business Economics
Inleverdatum: 21/01/2022
2
,Disclaimer
De uitspraken die in dit verslag worden gedaan, dienen voor een onderdeel van onze opleiding. Aan
de inhoud van dit verslag, in het bijzonder het beleggingsadvies, kunnen geen rechten worden
ontleend. Doe altijd zelf onderzoek voor je besluit te investeren.
The statements made in this report serve as part of our study. No rights can be derived from the
content of this report, in particular the investment advice. Always do your own research before you
decide to invest.
3
, Executive summary
This report contains research into the financial and non-financial performances of the Dutch
construction company Koninklijke BAM Groep nv, in short BAM. After the research had been done, a
future expectation is made in the sixth chapter. With all the knowledge gained about BAM, an
investment advice is given in the last chapter.
Many sectors and companies have had a hard time due to the coronavirus. The net result of BAM,
which can be found in the annual report, indicates that this was no different for them. The company
made a loss of €122 million in 2020. As a result, the stock price dropped by 50% to a price of €1,03
per share.
The most important fact from the research into the profile of the company, is that BAM will adjust
the strategy for the next few years. They will stop activities that are barely profitable, or sometimes
even cause a loss. In this way they want to increase the profitability by only focusing on markets
where they have a competitive advantage. The revenue is mainly achieved in the European home
markets of BAM, in particular in the Netherlands and the United Kingdom. 70% of the revenue was
achieved in these countries. In the remaining countries where BAM will stay active, there is potential
growth in the construction of houses and partnerships with the government.
The financial position of BAM is not good either. The key figures which measure this, indicated a
negative development in the last years. In the analysis it became clear that main competitor
VolkerWessels have their finances in better order. BAM wants to improve this with their new
strategy.
Based on the Sustainable Development Goals, BAM has proven that it is commited to solving climate
problems. By putting effort in the SDGs, BAM helps to create a better world. Through innovation and
investing in sustainability, their CO2 emissions have been reduced by 15%. BAM’s purpose is to
reduce the CO2 emissions by 50% in 2030. In addition, BAM is working on the sustainability of their
constructions.
After there was enough information about the Dutch company, the SWOT analysis was made. With
the new strategy, BAM uses a strengh; market power. They will only remain active in countries where
they have a strong position. Opportunities are mainly in residential construction, due to the housing
shortage. The laws and regulations related to sustainability are a threat for this sector. However,
BAM is doing well on this part. They are commited to being sustainable. In bad economic times, such
as the corona crisis, BAM has a hard time. This is one of the weaknesses of the company. By
improving the financial position, BAM can limit the consequences.
Using the fundamental analysis and Excel, a forecast has been made for the next few years. These
figures give a distorted picture, because the new strategy has not been taken into account.
Calculations have been made with the numbers of de last few years.
In the last chapter, an investment advice is given. Because of the new strategy, the advice is to not
invest for the short term. In the first period, BAM will still be working on the changes and they will
only benefit from that later. In addition, the company still has problems due to the corona crisis.
Long-term investment is recommended. As the profit margin will be increased, shareholders will
benefit in the future.
4
rapportages
Robert de Waard 686788
Dennis Boots 691801
1E
21/01/2022
, Koninklijke BAM Groep nv
Integrale bedrijfsanalyse
Door: Robert de Waard 686788
Dennis Boots 691801
Opleiding: Bachelor Business Studies, Finance & Control en Accountancy
Vak: OE10 Financiële rapportages
Docent: Remco van der Pijl
Thema: Business Economics
Inleverdatum: 21/01/2022
2
,Disclaimer
De uitspraken die in dit verslag worden gedaan, dienen voor een onderdeel van onze opleiding. Aan
de inhoud van dit verslag, in het bijzonder het beleggingsadvies, kunnen geen rechten worden
ontleend. Doe altijd zelf onderzoek voor je besluit te investeren.
The statements made in this report serve as part of our study. No rights can be derived from the
content of this report, in particular the investment advice. Always do your own research before you
decide to invest.
3
, Executive summary
This report contains research into the financial and non-financial performances of the Dutch
construction company Koninklijke BAM Groep nv, in short BAM. After the research had been done, a
future expectation is made in the sixth chapter. With all the knowledge gained about BAM, an
investment advice is given in the last chapter.
Many sectors and companies have had a hard time due to the coronavirus. The net result of BAM,
which can be found in the annual report, indicates that this was no different for them. The company
made a loss of €122 million in 2020. As a result, the stock price dropped by 50% to a price of €1,03
per share.
The most important fact from the research into the profile of the company, is that BAM will adjust
the strategy for the next few years. They will stop activities that are barely profitable, or sometimes
even cause a loss. In this way they want to increase the profitability by only focusing on markets
where they have a competitive advantage. The revenue is mainly achieved in the European home
markets of BAM, in particular in the Netherlands and the United Kingdom. 70% of the revenue was
achieved in these countries. In the remaining countries where BAM will stay active, there is potential
growth in the construction of houses and partnerships with the government.
The financial position of BAM is not good either. The key figures which measure this, indicated a
negative development in the last years. In the analysis it became clear that main competitor
VolkerWessels have their finances in better order. BAM wants to improve this with their new
strategy.
Based on the Sustainable Development Goals, BAM has proven that it is commited to solving climate
problems. By putting effort in the SDGs, BAM helps to create a better world. Through innovation and
investing in sustainability, their CO2 emissions have been reduced by 15%. BAM’s purpose is to
reduce the CO2 emissions by 50% in 2030. In addition, BAM is working on the sustainability of their
constructions.
After there was enough information about the Dutch company, the SWOT analysis was made. With
the new strategy, BAM uses a strengh; market power. They will only remain active in countries where
they have a strong position. Opportunities are mainly in residential construction, due to the housing
shortage. The laws and regulations related to sustainability are a threat for this sector. However,
BAM is doing well on this part. They are commited to being sustainable. In bad economic times, such
as the corona crisis, BAM has a hard time. This is one of the weaknesses of the company. By
improving the financial position, BAM can limit the consequences.
Using the fundamental analysis and Excel, a forecast has been made for the next few years. These
figures give a distorted picture, because the new strategy has not been taken into account.
Calculations have been made with the numbers of de last few years.
In the last chapter, an investment advice is given. Because of the new strategy, the advice is to not
invest for the short term. In the first period, BAM will still be working on the changes and they will
only benefit from that later. In addition, the company still has problems due to the corona crisis.
Long-term investment is recommended. As the profit margin will be increased, shareholders will
benefit in the future.
4
