Sunday 18 August 2019

Construction group Ballast Nedam posts 2014 loss of €103m

WADDINXVEEN-BALLAST NEDAM-LOGOTroubled construction company Ballast Nedam posted a loss of €103m in 2014, more than double its 2013 loss of €41m.

The company, which has postponed publication of the figures twice this year, has been hit hard by three major infrastructure projects: expanding the A15 motorway in Rotterdam port, sinking the A2 underground in Maastricht and a public transport project in Breda.

However, the figures also show losses at the previously profitable residential and office building unit Bouw & Ontwikkeling.

Earlier this week the company came out with a rescue plan including a €20m rights issue and €50m subordinated loan.

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