Bam has announced its first-quarter figures with progress as forecast. The order book is up by almost 5% at €9.5 billion and the 2004 projection of a net result between approx. €75 million and €85 million is maintained.
With effect from 2004, Royal BAM Group will be publishing its results four times a year. Turnover is usually lowest in the first quarter, reflecting the impact of winter weather. The first quarter of 2004 represents only about 20% of the expected turnover for the year, which means that fixed costs are not completely covered. This, along with other factors, leads to a clearly observable seasonal pattern in profitability as well. The first quarter always produces a modest result.
Progress in the first quarter of 2004
Turnover in the first quarter of 2004 amounted to €1.5 billion, a decline of 14.6% compared with the first quarter of 2003. The principal factor behind the lower figure (