Half Year 2020 Koninklijke BAM Groep NV Earnings Call Transcript
Good morning, everyone, and welcome to this meeting for Royal BAM Group first half results meeting. My name is Frans den Houter, CFO and interim CEO. With me today is our Manager, Investor Relations, Michel Aupers. We have a live audience in Amsterdam with social-distancing measures in place and other participants on the webcast.
This has been a challenging year -- half year. Before going into further details, I have to recognize that the performance we announced this morning to the markets is disappointing. The largest impact on the results came from COVID-19. Q2 was a wild ride in terms of managing our operational efficiency in total unprecedented circumstances. Next to COVID-19, the main other dynamics in the second quarter were the company decided to start to wind down BAM International, we settled the legacy issue for the Cologne metro project. We still report underperformance at construction Germany and civil engineering in the Netherlands. This has our full attention. We strengthened our cash position. Our
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