BAM Releases 2024 Annual Report
Royal BAM Group nv has published its Annual Report 2024, highlighting significant strides in sustainability, financial performance, and diversity and inclusion. This year’s report, the first prepared in accordance with the Corporate Sustainability Reporting Directive (CSRD), underscores BAM’s commitment to its mission of ‘Building a sustainable tomorrow.’
Driving Climate Action
BAM has made considerable progress in reducing its environmental impact, with a focus on lowering carbon emissions across its operations. The company has successfully reduced its Scope 1 and Scope 2 CO2 intensity by 70% compared to 2015 levels, edging closer to its goal of an 80% reduction by 2026. This achievement was driven by the continued electrification of equipment and the optimization of biofuel use, which have significantly cut direct emissions from company-owned and controlled sources.
In addition, BAM reduced its Scope 3 emissions—covering indirect emissions from its value chain—by 18% compared to the previous year. This reduction reflects the company’s collaboration with supply chain partners to adopt more sustainable materials and construction practices. BAM’s ongoing climate action efforts have earned it a place on the CDP Climate A List for the sixth consecutive year, reinforcing its position as a global leader in sustainability.
The company’s environmental initiatives extend beyond carbon reduction. BAM has advanced its circular economy strategy by increasing the use of recycled and renewable materials in its construction projects. In 2024, 35% of the materials used were recycled or renewable, aligning with its goal of reaching 50% by 2030. The company has also prioritized resource efficiency by reducing construction waste and optimizing energy consumption on job sites, further minimizing its environmental footprint.
Commitment to Diversity and Inclusion
BAM recognizes that fostering a diverse and inclusive workplace is essential for driving innovation, enhancing performance, and achieving sustainable growth. The 2024 Annual Report highlights the company’s continued progress in promoting gender diversity across all levels of the organization.
By the end of 2024, BAM’s Supervisory Board achieved 43% female representation, surpassing its objective of 33%. The Executive Committee also exceeded its target of 25%, reaching 40% female representation. Additionally, the proportion of women in BAM’s Senior Leadership Group increased by one percentage point compared to the previous year. These advancements reflect the company’s focus on inclusive recruitment, leadership development, and creating a culture where all employees feel valued and empowered.
To further support diversity and inclusion, BAM has implemented comprehensive training programs to raise awareness of unconscious bias and foster inclusive behaviors. The company has also established employee resource groups to provide a platform for underrepresented groups to share their experiences and contribute to a more inclusive workplace.
Financial Performance
In addition to its sustainability and diversity achievements, BAM delivered solid financial results in 2024, demonstrating resilience and operational excellence. The company reported an increase in revenue, driven by strong performance across its key markets in Europe and beyond. Improved operational efficiency and disciplined cost management contributed to higher profitability, reflecting BAM’s focus on delivering value to its stakeholders.
The company’s order book remained robust, supported by a growing demand for sustainable construction solutions. BAM’s strategic focus on public infrastructure, commercial buildings, and renewable energy projects has positioned it well for continued growth in the coming years. The company’s financial stability enables it to invest in innovation, talent development, and sustainable technologies, ensuring long-term success.
Innovation and Technology
BAM continues to leverage digital technologies to enhance project efficiency, sustainability, and client satisfaction. In 2024, the company expanded its use of Building Information Modeling (BIM) to improve collaboration and reduce waste throughout the construction process. Advanced data analytics and digital twins have also enabled BAM to optimize building performance and minimize energy consumption, supporting its sustainability goals.
The company has invested in innovative construction methods, such as modular and off-site construction, which reduce material waste, shorten project timelines, and lower environmental impact. These approaches align with BAM’s commitment to delivering high-quality, sustainable buildings that meet the evolving needs of its clients and communities.
Health and Safety
Ensuring the health and safety of its employees and stakeholders remains a top priority for BAM. In 2024, the company further strengthened its safety culture by enhancing training programs, implementing advanced safety technologies, and promoting proactive risk management. BAM’s Lost Time Injury Frequency Rate (LTIFR) improved compared to the previous year, reflecting its ongoing commitment to creating a safe and healthy work environment.
The company also focused on supporting employee well-being, offering comprehensive health and wellness programs designed to promote physical, mental, and emotional well-being. BAM’s holistic approach to health and safety underscores its dedication to caring for its workforce and ensuring their long-term success.
Community Engagement
As a responsible corporate citizen, BAM is committed to making a positive impact on the communities where it operates. In 2024, the company continued to invest in local communities through job creation, skills development, and philanthropic initiatives. BAM partnered with educational institutions to promote careers in construction and engineering, inspiring the next generation of talent and addressing the industry’s skills gap.
The company also supported community development projects aimed at improving infrastructure, enhancing public spaces, and promoting social inclusion. By collaborating with local stakeholders and aligning its activities with community needs, BAM strives to create long-lasting benefits that extend beyond its construction projects.
Governance and Compliance
BAM upholds the highest standards of corporate governance, transparency, and ethical conduct. The company’s governance framework is designed to ensure accountability, foster stakeholder trust, and support long-term value creation. In 2024, BAM further strengthened its governance practices by enhancing its risk management processes and aligning its reporting with the Corporate Sustainability Reporting Directive (CSRD).
The company maintains a zero-tolerance policy for corruption, bribery, and unethical behavior. Comprehensive compliance training is provided to all employees, ensuring they understand and uphold BAM’s Code of Conduct. By promoting a culture of integrity and accountability, BAM reinforces its reputation as a trusted partner in the construction industry.
