Bam UK has rebounded this year with a 40% jump in sales in its construction, real estate and civil engineering divisions for the first half of 2021.
The contractor said the strong performance of its UK business helped the broader group recover to an adjusted EBITDA of £ 134m (EUR 157m) compared to a loss of 46m.
Group sales rose 17% to £ 3 billion, £ 4.3 million (€ 5 million).
Despite the wider group’s construction and real estate backlog falling 6% this year, Manchester’s co-op live arena said $ 253 million.
Bam’s UK construction business increased this year from £ 335m (EUR 392m) in the first half of 2020 to £ 471m (EUR 551m) while Adjusted EBITDA rose from £ 12m (Dec. Million) loss.
And the group stated that the performance of their UK civil engineering division was the main driver behind a 20% increase in sales across the group’s civil engineering division, helped by UK government support for large infrastructure projects.
UK civil engineering sales rose to £ 541 million this year from £ 388 million the previous year, bringing the Group’s total civil engineering sales to more than £ 1.37 billion ) elevated.
This is in stark contrast to the performance of the Group’s Dutch civil business, which posted an EBITDA loss of £ 4.6m (€ 5.4m) and sales of £ 497m (£ 582m £ 3m) . € 5 million) in the first half of last year.
The group blamed the poor performance on cost overruns on large contracts, adding that it had decided not to tender for several new major projects in the Netherlands, including two major motorway projects.
However, an increase in orders in the Netherlands of £ 102 million (€ 120 million) helped to increase the total order backlog by 5% to £ 6.74 billion (€ 7.9 billion).
And the group, which has been in the process of restructuring since February, appears to have strengthened its position in Germany after a problem job in the country contributed to losses of more than £ 100 million in 2020.
Sales in the German construction business rose to £ 184m (€ 216m) from £ 168m (€ 197m) in the first half of last year, with EBITDA of £ 2.8m (€ 3.3m). €) is back in the black after £ 18.5 million (€ 21.7 million) loss in the previous year. However, selective tenders resulted in an order backlog of around £ 171m (€ 200m).
Bam’s German civil engineering business also experienced a significant recovery: sales rose from £ 121 million (€ 142 million) to 149 million in the first half of 2020.