Royal BAM Group has posted its latest financial results, with a mixed performanceacross key divisions in the UK.
While BAM’s UK construction arm saw revenue depreciate from more than £834 million in 2023 to £755.3 million in 2024, civil engineering posted increased turnover last year of £1.25 billion (FY2023: £1.09 billion), with improved EBITDA.
The group said the result in UK construction reflected a challenging market during the period, including project delays and supply chain issues as well as a loss for Co-op Live in Manchester.
Meanwhile the civil engineering division was supported by a high level of activity, especially in rail and energy transition projects.
The group’s Ventures business and operations in Ireland continued to deliver a solid performance for the period.
“The construction market in the United Kingdom is expected to grow,” said BAM.
“Energy remains a focus of the UK Government, which has recently issued the Clean Power Action plan to speed up planning decisions to help the energy chain gear up for delivery.
“Furthermore, negotiations have begun with the shortlisted bidders for the Small Modular Reactor programme and BAM participates in this process with Rolls-Royce.
“The New Hospital Programme will be put on a more sustainable and deliverable footing.”
It added announcements concerning the 10-year Infrastructure Plan and the outcome of the Strategic Defence Review and Spending Review will impact the market over the next five years.
BAM UK & Ireland posted stable revenue for the period of £2.6 billion, roughly in line with the year prior, with EBITDA of £95.2 million (FY2023: £101 million).
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