€235 million loss for construction company BAM

The first half of 2020 was rough on construction company BAM, with the company suffering a total loss of 234.5 million euros, according to the interim figures BAM released on Thursday. A combination of the coronavirus, poorly performing businesses, and a settlement claim meant that the company suffered an adjusted pretax loss of 133.6 million euros. Insurers covered most of the 200 million euros BAM was responsible for in the settlement, but the company had to pay 36 million euros from its own accounts. The company also wrote off 116 million euros in deferred tax payments and goodwill - the company's intangible reputation and thus market value.