Royal BAM Group

1
Royal BAM Group

• An introduction

2
Dutch construction sector

• 82.000 companies
• 55 billion turnover
• 6 Gross National Product
• 500.000 employees (6 labour force)
• Source CBS, EIB

3
Key figures BAM

• Turnover 8.8 billion
• Net result 162 million
• Employees approximately 29,000
• Operating companies gt 25
• Countries gt 30 worldwide five European home
  markets
• Shares 136 million
• 2008

4
History

• Founded in 1869 Firma J. van der Wal en Zoon
• Large contracts for Bataafsche Petroleum
  Maatschappij (Shell) in The Hague
• 1 January 1928 N.V. Bataafsche Aanneming Mij van
  Bouw- en Betonwerken
• March 1959 share listing

Shell office, The Hague
5
1994
1869
1939
1902
2002
Firma J. van der Wal Zn
Koninklijke BAM Groep
2000
1987
2005
Bredero
NBM- Amstelland
AM
1998
Wilma
HBG
6
Solid European footprint
Netherlands 3.9 billion / 13,000 Number 1 in
building and civil

Ireland 467 million / 1,000 Number 1 in civil,
2 in building

Germany 1.04 billion / 1,500 Large player in
building and civil

Belgium 749 million / 1,800 Top player in
building and civil

United Kingdom 2.1 billion / 5,500 Top 3
building and civil

Worldwide 508 million / 5,100

Data turnover 2008 / number of employees 2008
7
in the European top league
Turnover (construction concession) 2007 (
billion)
8
Construction

Property

PPP

Civil engineering

BAM PPP

Netherlands
BAM Utiliteitsbouw

M E Contracting

BAM Civiel


BAM Infratechniek

BAM Techniek

BAM Vastgoed
BAM Woningbouw

BAM Rail

BAM Wegen

AM

Heilijgers

Pennings

Betonac

Belgium
CEI De Meyer

CEI De Meyer
Immo BAM
BAM Wallonie

BAM Wallonie
Interbuild

Kaïros

UK
HBG UK

HBG Properties
Nuttall

BAM Properties

BAM Construction

BAM Nuttall

BAM Construct UK
Ireland
Ascon

Rohcon
Ascon Property Dev.
BAM Civil

BAM Buiding

BAM Property

BAM Contractors
Germany
WF Ingenieurbau

BAM Deutschland

WF Projektentwicklung

Worldwide
BAM International

Consultancy engineering

BAM International
Tebodin

Van Oord (21,5)

9
Share price and market capitalisation BAM
10
Turnover 2008
By sector (in )
By region (in )
Other 5
World- wide6
Belgium8.5
Non-residential 36
Germany 12
Civil 43
Netherlands 44
Ireland 5
United Kingdom24.5
Residential 10
Property 14
11
Construction
NetherlandsGood results despite sustained
pressure on margins increased order book United
KingdomExcellent result contribution focus on
education and healthcare strong order
book BelgiumExcellent results lower order
book GermanyProfit in line with expectations
increased revenue and order book
12
Property
NetherlandsGood results BAM VastgoedLower
result AM United KingdomNegative result due to
provisions of12 million for adjusted market
yields BelgiumGood performance in changing
market IrelandNegative result 10 million due
to impairment landbank and projects GermanyNegati
ve result on last completed operational project
13
Property Netherlands
Long-term outlook Dutch residential market still
good due to shortage of homes
14
Construction and property market trends
15
Construction and property market trends
16
Civil engineering
NetherlandsStrong results in road building,
energy and telecom sectors United KingdomA good
year once again increased revenue, result and
margin BelgiumModest result contribution Ireland
Results and margin good GermanyPositive result
in line with expectations increased revenue BAM
InternationalExcellent result and margin with
higher revenue
17
Civil engineering market trends
18
Civil engineering market trends
19
Public private partnerships

• Good result from operational PPP contracts
• Result including book profit of 11 million on
  sale of 25-stake in joint venture with DIF
  (comparable to last year)

20
Public private partnerships

• Liefkenshoektunnel new in 2008
• External financing difficult- Banks withdrawn
  from market - Changing conditions like
  equity/debt ratios
• Nine tenders in five home markets more to come

21
Public-private partnerships portfolio
22
Mechanical and electrical contracting

• Strong result BAM Techniek
• Margin on high level
• Steady maintenance client base

23
Consultancy and engineering

• Another excellent year for Tebodin
• Revenue increased while margin remained high
• Buy-out partners Asia Pacific and Hungary

24
Dredging

• Higher contribution to the result
• BAM still intends to sell the minority stake in
  Van Oord
• Discussions with other shareholders are expected
  to resume later this year

25
Geographical spread of revenue and results
26
Key figures income statement
27
Earnings per ordinary share
28
Dividend proposal 2008
29
Key figures balance sheet
30
Key figures balance sheet

• Increase of net debt position
• Increase project financing
• Partial repayment Loan AM
• Partial repayment Loan Terra Amstel
• Less cash/less bank overdrafts
• Increase of working capital
• Increase property development
• Increase pre-financing ongoing work

31
Breakdown of net debt position
32
Financing structure BAM

• Financing facilities agreed in August 2007
• subordinated loan 200 million
• committed financing facility 550 million
• Facility at AM level of 358 million
• Specific ratios were agreed with syndicates of
  banks
• As of 31 December 2008, the Group expects to have
  complied with all ratios

) recourse leverage ratio, recourse interest
cover ratio and recourse capital ratio.
33
Order book as at 31 December

• Strong order book
• Increase in 2008 especially in United Kingdom (in
  GBP), Belgium and Germany
• Quality of order book, excl. Property
  Development, comparable with situation at
  year-end 2007,

34
No outlook 2009
35
Student housing Casa Confetti, Utrecht
(Netherlands)
36
Arena O2 World, Berlin
37
Rodenrijse Zoom, Berkel en Rodenrijs (Netherlands)
38
Office Metro, Manchester
39
N6 Athlone to Kilbeggan, Ireland
40
Pumping station Eupen, België
41
PPP schools Solihull (near Birmingham)
42
Improvement highway A8 near Munich
43
Fire fighting training facility, Qatar
44
Nelson Mandela Bay Stadium, Port Elizabeth,
South-Africa
45
Office Tiensevest, Leuven (Kaïros and Interbuild)
46
Pluto LNG jetty, Australia