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12.08.2016 07:00:11
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DGAP-News: BAUER AG
DGAP-News: BAUER Aktiengesellschaft: BAUER AG enters the second half of the year with large order backlog
Schrobenhausen - The first half of 2016 went according to expectations for the BAUER Group. Thanks to the solid order situation, the international construction and machinery manufacturing concern remains optimistic for the rest of the fiscal year and reaffirmed its forecast.
Total Group revenues were EUR 757.0 million at the end of the second quarter, down by 3.0 % from the previous year (EUR 780.4 million). In contrast, sales revenues rose slightly by 1.2 % from EUR 642.0 million to EUR 649.8 million. EBIT increased by 14.8 % from EUR 16.0 million to EUR 18.4 million. Earnings after tax were according to plan at EUR -7.9 million (previous year: EUR -6.8 million). The order backlog increased by 14.6 % to EUR 1,010.2 million (previous year: EUR 881.5 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.
Several large projects in the Construction segment were delayed in the start-up phase, resulting in total Group revenues falling by 10.3 % to EUR 331.9 million in the first half of the year compared to the same period last year. As a result, EBIT decreased from EUR 10.4 million to EUR 5.3 million. The company is expected to recover in the second half of the year as a result of several ongoing major projects. The order backlog increased by another 4.4 % compared to the previous year and has reached EUR 574.8 million, a very high level.
Total Group revenues in the Equipment segment decreased by 6.3 % from EUR 333.4 million to EUR 312.4 million. Some large and special machines were delivered at the beginning of the year, resulting in increased earnings. EBIT grew to EUR 13.4 million (previous year: EUR 8.4 million). The order backlog fell from EUR 157.0 million to EUR 141.1 million, which is mainly attributable to business in deep-drilling rigs. The deep drilling business was integrated into the joint venture with Schlumberger at the beginning of the year. Order intake for specialist foundation engineering equipment is on target.
The Resources segment increased total Group revenues by 36.1 % from EUR 102.1 million to EUR 139.0 million as a result of major projects in the environmental business. EBIT was EUR -0.1 million (previous year: EUR -3.2 million). Totaling EUR 294.4 million, the segment's order backlog increased by 69.4 %.
Financing
At the end of July, the BAUER Group replaced the existing syndicated loan agreement, which was concluded in April 2014, with a new agreement. It has a volume of EUR 430 million and a regular term of three years.
Outlook
The company is able to confirm its full-year forecast for 2016, predicting total Group revenues of around EUR 1.65 billion, earnings after tax of around EUR 20 to 25 million, and EBIT of around EUR 75 million. "We are expecting a rise in revenues in the second half of the year, thanks to our good order backlog and projects that were launched in the Construction segment," says Prof. Thomas Bauer, Chairman of the Management Board of BAUER Aktiengesellschaft. "The Resources segment is showing improvement thanks to new orders, but further efforts will also be necessary."
You can read the full half-year financial report online at 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 carries out foundation and excavation work, cut-off walls and ground improvements worldwide. Bauer is a world 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 sector, Bauer focuses on highly innovative products and services in the areas of water, environment and mineral deposit reserves.
Bauer profits 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 suitable solutions to the greatest problems in the world, such as urbanization, the growing infrastructure needs, the environment and water, oil and gas.
The BAUER Group was founded in 1790 and is based in Schrobenhausen, Bavaria. In 2015, it employed some 10,700 people in around 70 countries and achieved total Group revenues of EUR 1.66 billion. BAUER Aktiengesellschaft is listed in the Prime Standard of the German stock market.
More information can be found at www.bauer.de.
GROUP KEY FIGURES January - June 2016 (IFRS)
2015 2016 Change
in EUR million in EUR million
Total Group revenues 780.4 757.0 -3.0 %
of which
- Construction 369.9 331.9 -10.3 %
- Equipment 333.4 312.4 -6.3 %
- Resources 102.1 139.0 +36.1 %
- Other/Consolidation -25.0 -26.3 n/a
Sales revenues 642.0 649.8 +1.2 %
Order intake 899.2 771.6 -14.2 %
Order backlog 881.5 1,010.2 +14.6 %
EBITDA 63.0 62.7 -0.5 %
EBIT 16.0 18.4 +14.8 %
Earnings after tax -6.8% -7.9 n/a
Equity 425.2 417.3 -1.9 %
Equity ratio 25.2 % 24.3 % n/a
Earnings per share in EUR -0.44 -0.56 n/a
Employees (average number 10.642 10.609 -0.3 %
during the year)
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
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12.08.2016 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
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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 ---------------------------------------------------------------------------
491917 12.08.2016
DGAP-News: BAUER Aktiengesellschaft / Key word(s): Half Year
Results/Financing
BAUER Aktiengesellschaft: BAUER AG enters the second half of the year with
large order backlog
12.08.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
- Total Group revenues fall by 3.0 % to EUR 757.0 million; sales revenues
increase by 1.2 % to EUR 649.8 million
- EBIT improves by 14.8 % to EUR 18.4 million (previous year: EUR 16.0
million); earnings after tax according to plan at EUR -7.9 million
(previous year: EUR -6.8 million)
- Order backlog grows by 14.6 % to EUR 1,010.2 million
- Syndicated loan agreement is renewed
Schrobenhausen - The first half of 2016 went according to expectations for the BAUER Group. Thanks to the solid order situation, the international construction and machinery manufacturing concern remains optimistic for the rest of the fiscal year and reaffirmed its forecast.
Total Group revenues were EUR 757.0 million at the end of the second quarter, down by 3.0 % from the previous year (EUR 780.4 million). In contrast, sales revenues rose slightly by 1.2 % from EUR 642.0 million to EUR 649.8 million. EBIT increased by 14.8 % from EUR 16.0 million to EUR 18.4 million. Earnings after tax were according to plan at EUR -7.9 million (previous year: EUR -6.8 million). The order backlog increased by 14.6 % to EUR 1,010.2 million (previous year: EUR 881.5 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.
Several large projects in the Construction segment were delayed in the start-up phase, resulting in total Group revenues falling by 10.3 % to EUR 331.9 million in the first half of the year compared to the same period last year. As a result, EBIT decreased from EUR 10.4 million to EUR 5.3 million. The company is expected to recover in the second half of the year as a result of several ongoing major projects. The order backlog increased by another 4.4 % compared to the previous year and has reached EUR 574.8 million, a very high level.
Total Group revenues in the Equipment segment decreased by 6.3 % from EUR 333.4 million to EUR 312.4 million. Some large and special machines were delivered at the beginning of the year, resulting in increased earnings. EBIT grew to EUR 13.4 million (previous year: EUR 8.4 million). The order backlog fell from EUR 157.0 million to EUR 141.1 million, which is mainly attributable to business in deep-drilling rigs. The deep drilling business was integrated into the joint venture with Schlumberger at the beginning of the year. Order intake for specialist foundation engineering equipment is on target.
The Resources segment increased total Group revenues by 36.1 % from EUR 102.1 million to EUR 139.0 million as a result of major projects in the environmental business. EBIT was EUR -0.1 million (previous year: EUR -3.2 million). Totaling EUR 294.4 million, the segment's order backlog increased by 69.4 %.
Financing
At the end of July, the BAUER Group replaced the existing syndicated loan agreement, which was concluded in April 2014, with a new agreement. It has a volume of EUR 430 million and a regular term of three years.
Outlook
The company is able to confirm its full-year forecast for 2016, predicting total Group revenues of around EUR 1.65 billion, earnings after tax of around EUR 20 to 25 million, and EBIT of around EUR 75 million. "We are expecting a rise in revenues in the second half of the year, thanks to our good order backlog and projects that were launched in the Construction segment," says Prof. Thomas Bauer, Chairman of the Management Board of BAUER Aktiengesellschaft. "The Resources segment is showing improvement thanks to new orders, but further efforts will also be necessary."
You can read the full half-year financial report online at 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 carries out foundation and excavation work, cut-off walls and ground improvements worldwide. Bauer is a world 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 sector, Bauer focuses on highly innovative products and services in the areas of water, environment and mineral deposit reserves.
Bauer profits 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 suitable solutions to the greatest problems in the world, such as urbanization, the growing infrastructure needs, the environment and water, oil and gas.
The BAUER Group was founded in 1790 and is based in Schrobenhausen, Bavaria. In 2015, it employed some 10,700 people in around 70 countries and achieved total Group revenues of EUR 1.66 billion. BAUER Aktiengesellschaft is listed in the Prime Standard of the German stock market.
More information can be found at www.bauer.de.
GROUP KEY FIGURES January - June 2016 (IFRS)
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
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12.08.2016 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
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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 ---------------------------------------------------------------------------
491917 12.08.2016
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