Q2 2019 Koninklijke BAM Groep NV Earnings Call Transcript
Good morning, and welcome to the results meeting of the Royal BAM Group for the first half 2019. My name is Rob van Wingerden, CEO, and with me is Frans den Houter, our CFO.
Let's start with the main points of the results. We announced on 8th of July that we are facing higher costs for some construction projects and a civil project in Germany and an international construction project, which we regret. It's a very disappointing second quarter and therefore a first half year.
The total amount involved is EUR 94 million, which is a bit higher than the provisional numbers we originally told you. EUR 65 million relates to the projects in Germany and EUR 29 million to the international project. In the press release today, we also gave you the breakdown of the EUR 94 million by sector and by country. We are confident that we will recover a significant part of this amount through settlements, but at this stage we are uncertain about the amount and the timing. There are 2 main reasons for these reported
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