According to the latest announcement from Royal BAM Group, the company is expecting project losses totaling approximately €75 million.
The main reasons for the losses are:
Nico de Vries, Chairman of the Executive Board said: “ I am extremely disappointed to have to announce these negative developments. Our underlying strategy is the right one, but our delivery has not been good enough. It is fully clear to the Executive Board that BAM must act urgently and decisively to get all parts of the Group to contribute positively to our results. That is why we are taking the actions being announced today. ”
BAM is now intensifying, accelerating and enlarging its programmes to improve the Group’s operational and financial performance.
[mappress]
Press Release, July 7, 2014