13.11.2015
BAUER Aktiengesellschaft DE0005168108
DGAP-News: BAUER Aktiengesellschaft: Order backlog of BAUER AG at a record level
DGAP-News: BAUER Aktiengesellschaft / Key word(s): 9-month
figures/Interim Report
BAUER Aktiengesellschaft: Order backlog of BAUER AG at a record level
13.11.2015 / 07:00
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- Total Group revenues increased by 2.7 percent to EUR 1,194.9 million
- The net result for the period was EUR -2.7 million (previous year: EUR
-5.0 million)
- Order backlog increased by 30.3 percent to the record level of EUR
1,017.6 million (previous year: EUR 780.8 million)
- Forecast reaffirmed
Schrobenhausen - As at September 30, 2015, the BAUER Group can announce
that its order backlog has reached a record level: at EUR 1,017.6 million,
it is 30.3 percent up on the previous year, and has broken the billion
barrier for the first time in the company's history. Total Group revenues
amounted to EUR 1,194.9 million, which is 2.7 percent up on the previous
year (EUR 1,163.2 million). EBIT was recorded at EUR 36.4 million in
comparison to EUR 38.3 million for the previous year. The net result for
the period was EUR -2.7 million (previous year: EUR -5.0 million). This was
influenced by charges at individual subsidiaries and by restructuring
measures.
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.
In the Construction segment, business has picked up in almost all regions
of the world. Total Group revenues amounted to EUR 564.4 million, an
increase of 4.0 percent on the previous year. The EBIT decreased by EUR 4.4
million to EUR 12.4 million, while the net result for the period decreased
slightly from EUR -1.3 million to EUR -1.4 million. Delays in the approval
of the Center Hill Dam project in the USA had an additional negative impact
in the current year. This created capacity bottlenecks, which also had a
negative impact on the American subsidiary's other project business.
Restructuring measures also had to be implemented. The order backlog
underwent a positive development, growing by 23.9 percent to EUR 584.3
million (previous year: EUR 471.5 million). Major projects in the pipeline
include construction of a cut-off wall for the Diavik diamond mine in
Canada as well as diaphragm walling works for the Polavaram dam in India -
an order that was received after the balance sheet date. Additionally, we
succeeded in winning further smaller and medium-sized orders worldwide.
The order backlog in the Equipment segment developed satisfactorily in the
first three quarters, increasing from EUR 137.1 million to EUR 159.7
million. The main growth was generated by the deep drilling business and
small equipment. We expect further positive deliveries to our customers in
the fourth quarter. Total Group revenues increased slightly by 0.3 percent
to EUR 496.6 million, sales revenues were up by 1.5 percent from EUR 361.8
million to EUR 367.3 million. EBIT fell from EUR 25.6 million to EUR 24.6
million. The net result for the period was slightly down from EUR 4.3
million to EUR 4.2 million. The result was burdened by restructuring
measures at subsidiaries. The sale of 50 percent of the shares in SPANTEC
Spann- & Ankertechnik GmbH and the revaluation of the remaining 40 percent
of the shares generated a one-time income item to offset against
expenditure.
The total Group revenues of the Resources segment rose 10.4 percent to EUR
177.2 million (previous year: EUR 160.6 million). EBIT totaled EUR -1.2
million (previous year: EUR -1.9 million). The net result for the period
was EUR -7.8 million after EUR -7.2 million in the previous year.
Restructuring measures created significant costs during the current year.
On the other hand, the segment has an excellent order backlog with a volume
of EUR 273.7 million, 58.9 percent up on the previous year. The remediation
order for the former landfill site at Kesslergrube in Grenzach-Wyhlen made
an important contribution to this, amounting to more than EUR 100 million -
the biggest order in the company's history to date.
Outlook
With its high order backlog, the BAUER Group is looking to the future with
confidence. "On the one hand, we have to shoulder the expenditures of the
restructuring measures. On the other hand, we have a very good order
backlog, and there are additional favorable opportunities for the future,"
says Prof. Thomas Bauer, Chairman of the Management Board of BAUER
Aktiengesellschaft. These include a planned joint venture with
Schlumberger, which is intended to foster the deep drilling business. The
joint venture outlines a common approach for the development and
construction of larger deep drilling rigs for the oil, gas and geothermal
sectors. The negotiations are expected to be brought to a close during the
fourth quarter. The sales volume of the planned joint venture could soon
amount to more than one hundred million euros.
The forecast confirmed by the company up to the year-end is predicting
total Group revenues of around EUR 1.6 billion and EBIT of around EUR 75
million. The expected profit after tax of about EUR 18 to 23 million will,
as planned, include non-operating profit, which offset the restructuring
expenses.
The full Interim Report, including a detailed analysis of the individual
segments and markets, can be found online 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 - September 2015 (IFRS)
2014* 2015 Change in EUR in EUR million million Total Group revenues 1,163.2 1,194.9 +2.7 % of which - Germany 348.7 356.5 +2.2 % - International 814.5 838.4 +2.9 % of which - Construction 542.6 564.4 +4.0 % - Equipment 498.1 496.6 -0.3 % - Resources 160.6 177.2 +10.4 % - Other/Consolidation -38.1 -43.3 n/a Consolidated revenues 1,136.4 1,134.8 -0.1 % Sales revenues 1,013.7 1,018.8 +0.5 % Order intake 1,178.8 1,449.8 +23.0 % Order backlog 780.8 1,017.6 +30.3 % EBITDA 105.9 107.0 +1.0 % EBITDA margin (as percent of sales 10.4 % 10.5 % n/a revenues) EBIT 38.3 36.4 -5.0 % EBIT margin (as percent of sales 3.8 % 3.6 % n/a revenues) Net result for the period -5.0 -2.7 n/a Equity 410.6 419.5 +2.2 % Equity ratio 24.2 % 24.5 % n/a Earnings per share in EUR -0.36 -0.24 n/a Employees (average number during the 10,389 10,679 +2.8 % year)* 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 --------------------------------------------------------------------- 13.11.2015 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 --------------------------------------------------------------------- 412655 13.11.2015
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