13.05.2015
BAUER Aktiengesellschaft DE0005168108
DGAP-News: BAUER Aktiengesellschaft: BAUER AG recorded a good start of the business year
DGAP-News: BAUER Aktiengesellschaft / Key word(s): Quarter
Results/Interim Report
BAUER Aktiengesellschaft: BAUER AG recorded a good start of the
business year
13.05.2015 / 07:00
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- Total Group revenues up 8.2 percent at EUR 409.1 million
- Net loss for the period according to plan at EUR -8.6 million (previous
year: EUR -7.4 million)
- Orders in hand grow by 17.6 percent to EUR 848.2 million (previous year:
EUR 721.1 million)
Schrobenhausen, Germany - Business at the BAUER Group started off well in
the first quarter. The international construction and machinery
manufacturing concern benefited from strong construction markets in nearly
all regions of the world.
Total Group revenues were EUR 409.1 million at the end of March - an 8.2
percent increase against the previous year (EUR 378.1 million). EBIT was
recorded at EUR 1.2 million in comparison to EUR 4.9 million for the
previous year's corresponding quarter. Net loss for the period was in line
with expectations at EUR -8.6 million (previous year: EUR -7.4 million).
Orders in hand rose by a significant 17.6 percent from EUR 721.1 million to
EUR 848.2 million.
Business segments
With its three segments - Construction, Equipment and Resources - and its
broadly diversified business model, the Group operates through more than
110 subsidiaries in some 70 countries around the world.
The Construction segment saw business pick up in nearly all regions of the
world and is currently marked by a large number of small and medium-sized
projects. Total Group revenues increased by 8.4 percent to EUR 193.5
million. EBIT improved from EUR 1.5 million to EUR 4.9 million. A net
profit of EUR 1.1 million was recorded for the period (previous year: a
loss of EUR -3.4 million), which is unusual for the seasonal nature of the
business. The company now expects that the problematic projects in the past
will no longer negatively impact its result. Although large projects have
been completed, the trend in orders in hand has been very healthy, rising
by 17.8 percent to EUR 513.3 million.
The Equipment segment saw strong demand; however less large and complex
equipment was delivered in the first quarter. There was a positive
development in the number of orders received, which increased by 6.8
percent to EUR 176.7 million in the first three months. Much of the
equipment will however only be delivered in the coming weeks, meaning that
the sales and earnings figures are behind in comparison. Total Group
revenues increased by 6.1 percent against the previous year to EUR 173.8
million, while sales revenues were down 2.4 percent at EUR 100.5 million.
EBIT decreased significantly from EUR 5.6 million to EUR 0.9 million. Net
loss for the period worsened from EUR -0.9 million to EUR -5.9 million.
Orders in hand increased significantly from EUR 111.8 million to EUR 161.6
million. This growth has come mainly from business with deep drilling rigs.
At the four-day in-house exhibition at headquarters in Schrobenhausen at
the end of April, which was visited by 1,700 customers from more than 70
countries, particular interest was shown in new developments and deep
drilling rigs for oil and gas.
The materials and environment areas are progressing well in the Resources
segment. It was mainly thanks to them that total Group revenues rose by
12.1 percent to EUR 54.3 million. EBIT was recorded at EUR -2.9 million
(previous year: EUR -2.1 million), and net loss for the period amounted to
EUR -4.7 million (previous year: EUR -3.6 million). Orders in hand for the
segment are solid, valued at EUR 173.3 million. The segment needs to keep
working on reorganization, but it has very good chances for getting new
projects.
Outlook
"We had a good start in the business year and remain on track," says Prof.
Thomas Bauer, Chairman of the Management Board of BAUER Aktiengesellschaft.
The company confirms its full-year forecast from April 2015, predicting
total Group revenues of around EUR 1.6 billion, profit after tax of around
EUR 18 to 23 million, and EBIT of around EUR 75 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 products for ground and
groundwater. The Group markets its products and services all over the
world. Its global presence allows it to remain largely unaffected by
fluctuating business cycles.
The operations of the Group are divided into three segments: Construction,
Equipment and Resources. The Construction segment is involved in special
foundation engineering works for complex excavation pits and foundations
for large infrastructure projects and buildings, cut-off walls and ground
improvements all over the world, as well as engineering construction
services and project development. 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 covers the activities of the Group in the areas of water,
environment and natural resources.
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. In 2014, the Group with its workforce of about
10,400 people achieved total Group revenues of approx. EUR 1.56 billion
(previous year: EUR 1.5 billion). BAUER Aktiengesellschaft has been listed
on the official market of the Frankfurt Stock Exchange since July 4, 2006
(Prime Standard, ISIN DE0005168108).
GROUP KEY FIGURES January - March 2015 (IFRS)
2014* 2015 Change in EUR million in EUR million Total Group revenues 378.1 409.1 +8.2 % of which - Germany 112.5 124.1 +10.3 % - International 265.6 285.0 +7.3 % of which - Construction 178.5 193.5 +8.4 % - Equipment 163.8 173.8 +6.1 % - Resources 48.4 54.3 +12.1 % - Other/Consolidation -12.6 -12.5 n/a Consolidated revenues 371.1 391.5 +5.5 % Sales revenues 313.4 299.6 -4.4 % Orders received 333.9 494.6 +48.1 % Orders in hand 721.1 848.2 +17.6 % EBITDA 27.5 24.2 -12.0 % EBITDA margin (of sales revenues) 8.8 % 8.1 % n/a EBIT 4.9 1.2 -74.9 % EBIT margin (of sales revenues) 1.6 % 0.4 % n/a Net profit or loss -7.4 -8.6 n/a Shareholders' equity 406.3 417.5 +2.8 % Equity ratio 24.8 % 24.0 % n/a Earnings per share in EUR -0.45 -0.52 n/a Employees (on average over the year) 10,358 10,593 +2.3 %* Previous year's figures adjusted 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 --------------------------------------------------------------------- 13.05.2015 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. 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: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 356831 13.05.2015
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