Ballast Nedam reports strong first-half 2026 results

Ballast Nedam achieved revenue of €991.0 million in the first half of 2026, compared with €599.5 million in the same period last year. Underlying EBITDA amounted to €85 million, excluding the sale of Ballast Nedam Development, compared with €37.8 million in the first half of 2025. The order book stood at €4.3 billion, compared with €3.3 billion in the same period last year.

Eric van Zuthem, CEO of Ballast Nedam, said: “These strong results underline the strength of our businesses and project portfolio.  They are the result of the craftmanship, entrepreneurial spirit and dedication of our colleagues, supported by the confidence of our clients place in us and the strong, long-term relations we maintain with our partners, suppliers and other stakeholders.  Together, we are delivering project that create lasting value for society and all those involved”.

Ballast Nedam secured several new contracts during the first half of 2026 and continues to benefit from a healthy order book. Ballast Nedam Large Infra, together with Fluor in the ALSÉÉN joint venture, signed the Phase 2 certificate for the Merwede Bridge and completed various elements of the A27 Everdingen–Hooipolder infrastructure project. Irrevocable permits were granted for Cartesius plots 2, 4 and 5 in Utrecht, and Heddes, Hurks and Ballast Nedam West started construction preparations for these respective plots. Additional project awards included Avenue 2 Phase 6 along the Groene Loper development in Maastricht and the landmark Roman Museum Thermen project secured by Laudy. Heddes will begin work on Horizons, a major urban development located at the western tip of Zeeburgereiland in Amsterdam. Within Ballast Nedam Wind & Marine, a contract was signed for the renewal and modernisation of the quay walls in Saint Lucia.

In the first half of the year, several projects were completed or progressed into new phases. Across our Dutch construction activities, our regional operating companies reached important milestones, including the completion of the renovation and sustainability upgrade of 141 homes in Nieuwenhagen and Landgraaf by Laudy, and the completion of Boston Scientific's new facility in Kerkrade by Willems Bouwbedrijf. Heddes and Ballast Nedam West also began installing modules, including façades, for Waldorp Four in The Hague, the tallest and largest modular building in the Netherlands. In addition, Heddes successfully completed its first timber construction projects using both 2D and 3D construction methods.

During the first half of the year, Hurks successfully completed and commenced several residential development projects. In Eindhoven, the Haagdijk project was completed, and construction started on 115 homes in Tussen de Leijen in Rijen. Furthermore, the first project within WoonST commenced, a unique partnership involving 11 housing associations and 12 municipalities aimed at delivering affordable, sustainable and social housing.

At Eleven Square, a new vibrant urban district in Amsterdam-Zuidoost, Heddes commenced piling works in June. Ballast Nedam West's timber construction project Bredius Amsterdam is progressing steadily. Within modular construction, investments have been made to further scale up operations. Following the acquisition of a property in Wognum, Ursem Modular Building Systems will be able to increase production capacity from four to eight modules per day.

Haitsma Beton supplied new concrete girders for the Groeneweg viaduct in Hoogblokland across the A27, featuring a main span of 46 metres. In addition to the ongoing major asphalt replacement works on the A27 and the A15 Maasvlakte–Vaanplein, Ballast Nedam Infra Regionaal contributed to improved safety in Papendrecht, Leerdam and Spoordonk through the delivery of new asphalt surfacing, road markings and cycle paths.

The Rijnkade project in Arnhem, delivered entirely as a zero-emission project, was officially opened. Ballast Nedam Infra Technologies assumed responsibility for the routine maintenance of the Noordtunnel as preparation for the renovation works under the South Holland Tunnel Renovation Project.

At Project One for INEOS in the Port of Antwerp, Ballast Nedam Industriebouw is one of the main contractors. The company is responsible for complex civil concrete works and the construction of the Cracker Flare and Chemicals Block of the new ethane cracker.

Ekinetix further strengthened its position as a specialist in hydrogen, CO₂ and sustainable energy infrastructure during the first half of 2026. The consultancy worked on projects for the industrial, aviation and maritime sectors, supported public authorities in developing safety frameworks for new energy carriers, and introduced a new market approach for hydrogen logistics. Trailer filling solutions developed by Ekinetix were deployed for the first time in Europe, supporting the further growth of reliable and sustainable hydrogen value chains.

Ballast Nedam International continues to strengthen its international position through the delivery and development of complex infrastructure and construction projects across Africa, Europe and the Caribbean. During the first half of 2026, Ballast Nedam International successfully completed the Five Bridges Project in Conakry, Guinea, a landmark infrastructure program that significantly improves urban mobility, accessibility and economic connectivity across the capital. The project was developed in close partnership with Invest International, the Dutch state-backed development finance institution, demonstrating the value of long-term international partnerships in delivering sustainable infrastructure with a meaningful social and economic impact.

Work also continues on the new European Investment Bank (EIB) Headquarters in Luxembourg, one of the Group’s flagship projects in Europe. The project reflects the highest ambitions in sustainable construction and environmental performance, with a targeted BREEAM Excellent certification and a strong focus on energy efficiency, circular construction principles and long-term operational sustainability.

The breadth of the portfolio provides valuable experience in delivering technically complex and multidisciplinary projects in diverse international environments.  Progress is also being made on the hospital project in Kokshetau, Kazakhstan, a major healthcare development that will provide modern medical facilities and advanced treatment capacity for the region while meeting the highest international standards for healthcare infrastructure.

Looking ahead, Ballast Nedam remains confident in its ability to create sustainable long-term value through disciplined growth, operational excellence and strong collaborative partnerships. By leveraging its expertise in complex, integrated projects and the strength of its relationships with clients, stakeholders and strategic partners, the company will continue to play a leading role in shaping the built environment of tomorrow and delivering solutions that contribute to housing, mobility, energy security and climate resilience in the Netherlands and beyond.