Thursday 17 October 2019

BAM works on high-profile projects all over the world - like Microsoft HQ here


Building begins: Construction work is under way at the site of the National Children’s Hospital.
Photo: Collins
Building begins: Construction work is under way at the site of the National Children’s Hospital. Photo: Collins
John Mulligan

John Mulligan

A Dutch multinational with an Irish arm, BAM employs about 20,000 people across Europe and farther afield.

It has undertaken a large number of high-profile projects around the world and in Ireland, including Microsoft's huge new European headquarters in south Dublin that opened last year.

BAM - a public company whose shares are listed on the Amsterdam stock market - publishes its annual results for 2018 next week.

Its 2017 results show it generated revenue of €6.6bn and a €58.3m pre-tax profit, underlining how thin the margins are on its activities. Ireland accounted for €421m of its revenue in 2017, the annual report for that year shows.Accounts for its Irish arm, whose chief executive is Theo Cullinane, state that its revenue was €465m in 2017, when the unit made a pre-tax profit of just under €16m.

Its revenue includes sales to Northern Ireland and some other regions.

Those accounts stated that revenue from its construction activities in Ireland jumped in 2017 as it benefited from an improving market. It also noted that it started construction on the National Children's Hospital that year.

So far this year, the group has secured a number of projects around Europe.

It is part of a consortium that will build a new metro line in Paris, and just this week it won a major contract as part of a consortium to build the second phase of a huge business campus for German financial services firm Wüstenrot & Württembergische.

It has also won projects this year in Denmark and the United Kingdom.

Last month, BAM's Irish division also took a stake in modular homes maker Modern Homes Ireland, a Co Cavan firm that makes steel-framed homes and commercial units that are 95pc-completed before they leave the company's factory.

Established in 2016, Modern Homes Ireland has completed more than 400 residential units since then, mainly in the Leinster area, including a combination of social housing and high-end residential developments.

"We are cognisant of the need for an acceleration of output in the housing sector and we are happy that our investment will play a part in the solution to the current housing crisis in the country," said Mr Cullinane, at the time the acquisition was announced.

Irish Independent

Editor's Choice

Also in Irish News