15.05.2013
BAUER Aktiengesellschaft DE0005168108
DGAP-News: BAUER Aktiengesellschaft: BAUER AG reaffirms full-year forecast after first quarter results
DGAP-News: BAUER Aktiengesellschaft / Key word(s): Quarter
Results/Interim Report
BAUER Aktiengesellschaft: BAUER AG reaffirms full-year forecast after
first quarter results
15.05.2013 / 07:00
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- Total Group revenues of EUR 331.2 million 2.6 percent down against
previous year
- Orders in hand up 6.9 percent to EUR 803.4 million
- After-tax loss of EUR 9.6 million as expected in line with seasonal
factors
- Full-year forecast for 2013 reaffirmed
Schrobenhausen - BAUER Aktiengesellschaft has seen a somewhat slow start to
the present financial year. First-quarter results were hampered by delayed
starts to some major projects, bad weather, and the usual seasonal effect
of low machinery orders at the start of the year.
The total Group revenues of the global construction engineering and
machinery manufacturing concern were reduced slightly, down 2.6 percent at
EUR 331.2 million (previous year: EUR 340.0 million). The net loss for the
period of EUR 9.6 million (previous year: EUR 4.7 million) was normal in
line with seasonal factors. EBIT (earnings before interest and taxes)
decreased from EUR 6.4 million to EUR 2.3 million. This was likewise in
line with the seasonal trend in Group performance normally reflecting a
weak start to the year. Orders in hand increased by 6.9 percent against the
previous year mainly due to the Construction and Resources segments, to EUR
803.4 million.
Business segments
With its three segments - Construction, Equipment and Resources - the Group
operates a widely diversified yet well-balanced business model and an
international network.
The total Group revenues of the Construction segment totalling EUR 153.6
million were reduced slightly, down 2.1 percent against the previous year.
The key factors in this were the slow starts to some major projects.
Segment EBIT decreased from EUR 2.3 million to EUR 0.3 million, as a result
of bad weather on a number of markets among other factors. Orders in hand
increased by 10.7 percent to EUR 512.6 million, being on the levels seen in
the boom year of 2008.
The Equipment segment improved its total Group revenues by 8.5 percent to
EUR 152.6 million. Segment EBIT decreased slightly, from EUR 5.0 million to
EUR 3.8 million. Orders in hand totalling EUR 126.2 million remained on the
ordinary lower levels seen since 2010. Orders and delivery lead times
continued to be very short. The trend in service business and spare parts
sales is rising.
In the Resources segment, the construction phase of the large-scale project
in Oman was completed ahead of time last year. No follow-up contracts have
yet been signed. As a result, the segment's total Group revenues fell by
32.6 percent to EUR 39.2 million and EBIT of EUR -2.4 million deteriorated
markedly by comparison to the previous year (EUR -0.6 million). Orders in
hand at the end of March were at a healthy level of EUR 164.6 million.
Outlook
The Group's orders in hand increased by 6.9 percent to EUR 803.4 million
during the reporting period.
Chairman of the Management Board Professor Thomas Bauer comments: 'There
are large numbers of major projects all around the world for which our
expertise is in demand. A major investment backlog has built up in
infrastructure, and that will provide healthy revenues for the construction
business over the years ahead, despite public-sector budget constraints.'
He also believes the construction machinery market will be able to profit
from increasing replacement demand. The company is well positioned thanks
to its range of specialist machinery. New products for drilling underwater
and for deep drilling in the oil, gas and geothermal energy sectors, as
well as for emergency mine recovery, offer the Group good opportunities.
Professor Bauer continues: 'Our new developments are attracting great
interest. We saw clear signs of that at Bauma.' At the world's largest
construction machinery trade fair held in Munich in mid-April, Bauer won
the Innovation Award in recognition of its underwater drilling technique.
The company sees opportunities for its Resources segment primarily in the
Middle East, where negotiations on a number of major projects are currently
ongoing.
BAUER AG is confident of being able to realize its growth plans and to meet
the full-year forecast it made in April 2013, predicting total Group
revenues of more than EUR 1.5 billion and profit after tax of above EUR 30
million, equating to EBIT of around EUR 85 million.
Our full Interim Report, including a detailed analysis of the individual
segments and markets, can be found on our website at http://www.bauer.de.
About Bauer
Bauer is a provider of services, machinery and ancillary products in the
ground and groundwater fields. The Group markets its products and services
all over the world. Its global spread allows it to remain largely
unaffected by fluctuating business cycles.
Its business is divided into three segments: Construction, Equipment and
Resources. The Construction segment carries out specialist foundation
engineering work for complex excavation pits and foundations on major
infrastructure and building projects all over the world, installing cut-off
walls and carrying out ground improvement works as well as providing
related project development services. Bauer's Equipment segment, a world
market leader, offers a comprehensive range of construction machinery,
equipment and tools for the specialist foundation engineering sector as
well as for other underground drilling operations, such as for mines, water
wells, geothermal energy sources, and oil and gas extraction. The Resources
segment bundles the Group's activities in the fields of water, energy,
mineral resources and environmental technology.
Bauer profits greatly from the collaboration between its three separate
segments, enabling the Group to position itself as an innovative, highly
specialized provider of complete solutions and services for demanding
projects on the specialist foundation engineering and related markets.
Founded in 1790, Bauer today generates around three quarters of its total
revenues outside of Germany. Employing some 10,300 people, the Group's
total revenues in 2012 were approximately EUR 1.45 billion (previous year:
EUR 1.37 billion). BAUER Aktiengesellschaft has been listed on the official
market of the Frankfurt Stock Exchange since July 4, 2006 (Prime Standard,
ISIN DE0005168108).
You can also visit us on YouTube: http://www.youtube.com/BAUERGruppe
GROUP KEY FIGURES January - March 2013 (IFRS)
2012* 2013 Change in EUR in EUR million million Total Group revenues 340.0 331.2 -2.6 % of which - Germany 82.2 96.3 +17.2 % - International 257.8 234.9 -8.9 % of which - Construction 156.9 153.6 -2.1 % - Equipment 140.7 152.6 +8.5 % - Resources 58.1 39.2 -32.6 % - Other/Consolidation -15.7 -14.2 n/a Consolidated revenues 328.4 310.1 -5.6 % Sales revenues 286.2 262.6 -8.3 % Orders received 341.6 349.6 +2.3 % Orders in hand 751.6 803.4 +6.9 % EBITDA 28.4 23.1 -18.6 % EBITDA margin (as % of sales revenues) 9.9 % 8.8 % n/a EBIT (earnings before interest and 6.4 2.3 n/a taxes) EBIT margin (as % of sales revenues) 2.3 % 0.9 % n/a Net profit or loss -4.7 -9.6 n/a Shareholders' equity 447.9 457.4 2.1 % Equity ratio 28.5 % 28.4 % n/a Earnings per share in EUR -0.26 -0.54 n/a Employees (on average over the year) 10,032 10,176 +1.4 %* Previous year figures adjusted; first-time adoption of IAS 19 R Contact: Contact Christopher Wolf Investor Relations BAUER Aktiengesellschaft BAUER-Strasse 1 86529 Schrobenhausen, Germany Phone: +49 8252 97-1797 Fax: +49 8252 97-2900 [email protected] www.bauer.de End of Corporate News --------------------------------------------------------------------- 15.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: BAUER Aktiengesellschaft BAUER-Straße 1 86529 Schrobenhausen Germany Phone: +49 (0)8252 97 1218 Fax: +49 (0)8252 97 2900 E-mail: [email protected] Internet: www.bauer.de ISIN: DE0005168108 WKN: 516810 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 211098 15.05.2013
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