12.04.2018 BAUER Aktiengesellschaft  DE0005168108

DGAP-News: BAUER Aktiengesellschaft: BAUER AG significantly increased its operating profitability in the 2017 financial year

DGAP-News: BAUER Aktiengesellschaft / Key word(s): Final Results/Forecast BAUER Aktiengesellschaft: BAUER AG significantly increased its operating profitability in the 2017 financial year 12.04.2018 / 07:00 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- - Total Group revenues grew by 14.0% to EUR 1,772.0 million. Sales revenues increased by 19.4% to EUR 1,667.9 million. - EBIT increased by 27.5% to EUR 89.6 million. Earnings after taxes totaled EUR 3.7 million. - Order intake increased by 11.1% to EUR 1,741.7 million. Order backlog remains high at EUR 977.8 million. - Proposed dividend for 2017: EUR 0.10 per share - Forecast for 2018: Group expects total Group revenues of around EUR 1.8 billion and EBIT of about EUR 90 million. Earnings after tax are expected to be significantly higher than in the previous year. Schrobenhausen/Munich - The BAUER Group has significantly increased its operating profitability. This was the central message regarding the business performance in 2017 at today's annual press conference. "In 2017, we recorded above-average growth and further improved our operating profitability," said Prof. Thomas Bauer, Chairman of the Management Board of BAUER AG. "This enabled us to continue the turnaround that we initiated in 2016 and is a very good foundation for the future development of the company." In 2017, the BAUER Group significantly increased both total Group revenues and sales revenues. Total Group revenues grew by 14.0% to EUR 1,772.0 million. Sales revenues increased by 19.4% to EUR 1,667.9 million. EBIT increased by 27.5% from EUR 70.3 million to EUR 89.6 million. Earnings after tax were EUR 3.7 million (previous year: EUR 14.4 million). Two non-operating effects had a negative impact: significant foreign currency losses and the necessary reassessment of receivables in the balance sheet as a result of the Hong Kong arbitration case (Construction segment). In addition, there were negative results in the Resources segment. The order situation provides a good basis for further development. Order intake increased by 11.1% to EUR 1,741.7 million. As a result, the order backlog at the end of the year was at a high level, totaling EUR 977.8 million (previous year: EUR 1,008.1 million). The Management Board and Supervisory Board will propose to the Annual General Meeting that a unchanged dividend amounting to EUR 0.10 per share should be paid for 2017. Business segments With its three segments - Construction, Equipment and Resources - and more than 110 subsidiaries as well as its broadly diversified business model, the Group operates in some 70 countries around the world. The Construction segment is benefiting from the global growth in construction markets. There is a great need for infrastructure such as roads, bridges, dams or power supply infrastructure. Increasing urbanization brings an increased need for specialist foundation engineering services which enable buildings to be erected in increasingly complex and difficult conditions. In 2017, we succeeded in significantly increasing total Group revenues by utilizing the good market situation and processing the large order backlog. With an increase of 17.1% to EUR 835.0 million, there was significant growth compared to the previous year's EUR 713.1 million. At EUR 19.6 million, EBIT was below the expectations and the previous year's figure of EUR 29.7 million. Earnings after tax were down considerably at EUR -15.2 million, whereas earnings in the previous year were positive at EUR 9.5 million. The outcome of an arbitration case and significant foreign currency losses had a negative impact. As a result, the segment's earnings figures fell well short of expectations. This was caused by a long-standing arbitration case for a project completed in Hong Kong in 2012. Although the verdict was in Bauer's favor, it necessitated a reassessment of the receivables in the balance sheet by more than EUR 20 million. At EUR 492.7 million, the order backlog was 15.8% below the previous year's figure of EUR 585.3 million. This is mainly due to the fact that a number of large projects have been completed. The Equipment segment benefited from the expanding markets in Europe and Asia and has increased sales revenues and earnings substantially. In particular, the sales figures for large-scale and special equipment were noticeably higher than in the previous year. The improved operating results of subsidiaries also contributed to the improved performance in the past financial year. The competitive environment has gradually returned to normal. While the past few years were dominated by excess capacity in China, fewer Chinese manufacturers are present in the market today. Total Group revenues increased by 18.9% from EUR 634.4 million to EUR 754.5 million. Sales revenues also grew by 21.8%, from EUR 542.7 million to EUR 660.9 million. Accordingly, EBIT increased considerably from EUR 38.4 million to EUR 80.6 million, and earnings after taxes increased from EUR 10.9 million to EUR 41.0 million. Order intake was better than expected in 2017, rising significantly by 16.8% to EUR 759.9 million (previous year: EUR 650.3 million). Due to significantly increased production volumes and fast delivery of equipment, the order backlog was quickly processed on a repeated basis. The order backlog at the end of 2017 was EUR 149.3 million, remaining close to the previous year's level of EUR 144.0 million. The Resources segment fell short of our expectations in the year gone by. The subsidiary in Jordan had a significant negative impact on performance. Excess capacity there led to more substantial financial burdens. In addition, the subsidiary that manufactures equipment for brewing and beverage technology was negatively impacted in 2017 by an unprofitable project that has since been completed. Although many restructurings within the segment are already taking effect, some areas and companies need further measures, which have since been initiated. Total Group revenues decreased by 5.4% from EUR 262.4 million in the previous year to EUR 248.2 million. EBIT decreased from EUR -3.7 million to EUR -10.0 million and earnings after tax were down from EUR -8.5 million to EUR -22.4 million. The order backlog at the end of the year increased by 20.4% to EUR 335.8 million (previous year: EUR 278.8 million). A successful project has had a positive impact here: In October, the expansion of the largest reed bed treatment plant in the world in Oman was commissioned. This large-scale project is worth about EUR 160 million. The construction phase, which accounts for around a quarter of the order volume, will last until the end of 2019. Net debt was significantly reduced Exchange rate fluctuations had a major impact on earnings after tax in the year under review: The balance between gains and losses changed significantly, from EUR -1.9 million in the previous year to EUR -22.5 million. The foreign exchange result is now reported under financial income or expenses instead of other income or other operating expenses, and the figures for the previous year have been adjusted accordingly. Contrary to the strong increase in revenues, the BAUER Group significantly improved the balance sheet structure in 2017. Total assets fell by 3.8% to EUR 1,617.7 million. The increase in sales in the Equipment segment as well as various measures have succeeded in significantly reducing net debt, which fell by 12.3% or EUR 83.2 million to EUR 593.7 million, a level Bauer last recorded in 2012. At 25.9%, the equity ratio was at the previous year's level of 25.8%. Outlook For the current financial year, the Group expects total Group revenues of around EUR 1.8 billion and EBIT of around EUR 90 million. Earnings after tax are expected to be significantly higher than in the previous year. Plannings continue to foresee growth of between 3% and 8% in total Group revenues for the coming years. Digitization is one area that the company will focus on intensively in the coming years. At the beginning of 2018, Bauer expanded the Management Board with Florian Bauer, who also manages the Corporate Culture function. "Digitization is a topic that will affect all economic players in the coming years," says Prof. Thomas Bauer. "It's changing the way we live and work at a tremendous pace. This will change society as well as companies. As a family-run company, Bauer is defined by its values, and these values must be reconciled with the challenges of digital and social change." The full Annual Report, including a detailed analysis of the individual segments and markets, can be found on the website at http://www.bauer.de. About Bauer The BAUER Group is a leading provider of services, equipment and products related to ground and groundwater. With over 110 subsidiaries, Bauer operates a worldwide network on all continents. The operations of the Group are divided into three future-oriented segments with high synergy potential: Construction, Equipment and Resources. The Construction segment offers new and innovative specialist foundation engineering services alongside the established ones, and it carries out foundation and excavation work including cut-off walls and ground improvements on a worldwide basis. Bauer is a global market leader in the Equipment segment and provides a full range of equipment for specialist foundation engineering as well as for the exploration, mining and extraction of natural resources. In the Resources segment, Bauer focuses on highly innovative products and services in the areas of water, environment and mineral reserves. Bauer benefits greatly from the collaboration between its three separate segments, enabling the Group to position itself as an innovative, highly specialized provider of products and services for demanding projects in specialist foundation engineering and related markets. Bauer therefore offers appropriate solutions for the world's major challenges, such as urbanization, growing infrastructure needs, the environment, and water, oil and gas. The BAUER Group was founded in 1790 and is based in Schrobenhausen, Bavaria. In 2017 it employed some 11,000 people in around 70 countries and achieved total Group revenues of EUR 1.8 billion. BAUER Aktiengesellschaft is listed in the Prime Standard of the German stock market. More information can be found at http://www.bauer.de. GROUP KEY FIGURES 2017 (IFRS) 2016* 2017 Chang- e in EUR in EUR million million Total Group revenues 1,554.7 1,772.0 +14.0- % of which - Germany 472.9 477.8 +1.1% - International 1,081.8 1,294.2 +19.6- % of which - Construction 713.1 835.0 +17.1- % - Equipment 634.4 754.5 +18.9- % - Resources 262.4 248.2 -5.4% - Other/Consolidation -55.2 -65.7 n/a Sales revenues 1,396.9 1,667.9 +19.4- % Order intake 1,567.1 1,741.7 +11.1- % Order backlog 1,008.1 977.8 -3.0% EBITDA 160.3 182.6 +13.9- % EBIT 70.3 89.6 +27.5- % EBIT margin (as percent of sales 5.0% 5.4% n/a revenues) Earnings after tax 14.4 3.7 -74.6- % Total assets 1,681.8 1,617.7 -3.8% Equity ratio 25.8% 25.9% n/a Earnings per share in EUR 0.66 0.16 -75.8- % Employees (average number during the 10,771 10,913 +1.3% year) * The previous year's figures were adjusted; see 2017 Annual Report, page 93. Contact: Christopher Wolf Investor Relations BAUER Aktiengesellschaft BAUER-Strasse 1 86529 Schrobenhausen, Germany Phone: +49 8252 97-1797 Fax: +49 8252 97-2900 investor.relations@bauer.de www.bauer.de --------------------------------------------------------------------------- 12.04.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at 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: investor.relations@bauer.de Internet: www.bauer.de ISIN: DE0005168108 WKN: 516810 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 673667 12.04.2018

Die wichtigsten Finanzdaten auf einen Blick
  2013 2014 2015 2016 2017 2018 2019 2020e
Umsatzerlöse1 1.404,17 1.375,68 1.378,99 1.396,88 1.667,86 1.589,09 1.470,92 1.500,00
EBITDA1,2 124,00 171,00 185,10 158,39 182,55 198,62 123,05 140,00
EBITDA-Marge3 8,83 12,43 13,42 11,34 10,95 12,50 8,37 9,33
EBIT1,4 32,08 76,43 90,72 68,35 89,57 100,06 22,48 60,00
EBIT-Marge5 2,28 5,56 6,58 4,89 5,37 6,30 1,53 4,00
Jahresüberschuss1 -19,43 15,73 28,99 14,41 3,67 24,09 -36,55 5,00
Netto-Marge6 -1,38 1,14 2,10 1,03 0,22 1,52 -2,48 0,33
Cashflow1,7 45,44 115,40 32,43 124,88 183,33 147,44 168,88 0,00
Ergebnis je Aktie8 -0,99 0,85 1,73 0,66 0,16 1,32 -2,17 0,25
Dividende8 0,00 0,15 0,15 0,10 0,10 0,10 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2019 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

WKN Kurs in € Einschätzung Börsenwert in Mio. €
516810 9,000 Halten 154,18
KGV 2021e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
13,85 16,19 0,841 17,51
0,40 0,91 0,10 6,567
Dividende '19 in € Dividende '20e in € Div.-Rendite '19e
in %
0,00 0,00 0,00 25.06.2020
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
13.05.2020 13.08.2020 13.11.2020 09.04.2020
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-3,13% -17,23% -40,40% -36,97%
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