Half Year 2020 Koninklijke BAM Groep NV Guidance Call Transcript
Good morning, ladies and gentlemen. Thank you for holding, and welcome to the Royal BAM Group event call. (Operator Instructions) I would like to hand over the conference to Mr. Frans den Houter. Please go ahead, sir.
Good morning, and welcome to the call for the Royal BAM Group trading update we published today. My name is Frans den Houter, CFO and Interim CEO. And with me is our Investor Relations Manager, Michel Aupers. Thank you all for joining at such short notice.
We issued a trading update this morning to report major impact on our first half results from 3 factors.
In order of impact: first, there is a negative effect of COVID-19 on our operations; second is the underperformance at BAM International and our decision to start the process of winding down the company. Obviously, this is a process that is subject to discussions with BAM's works councils and trade unions; and third, the settlement of a legacy issue in Cologne, which we shared with
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