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4-Traders Homepage  >  Equities  >  Xetra  >  BAUER AG    B5A   DE0005168108

BAUER AG (B5A)
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08/08BAUER AG : half-yearly earnings release
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DGAP-News: BAUER Aktiengesellschaft: BAUER AG has a significant revenue increase in the first half of the year

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08/11/2017 | 07:01am CEST

DGAP-News: BAUER Aktiengesellschaft / Key word(s): Half Year Results/Forecast
BAUER Aktiengesellschaft: BAUER AG has a significant revenue increase in the first half of the year

11.08.2017 / 07:00
The issuer is solely responsible for the content of this announcement.


- Total Group revenues increased by 21.1% to EUR 916.4 million; sales revenues grew by 27.8% to EUR 830.2 million
- EBIT increased by 39.7% to EUR 25.7 million (previous year: EUR 18.4 million); earnings after tax are already positive at EUR 0.1 million (previous year: EUR -7.9 million)
- Order backlog with EUR 1,044.7 million (previous year: EUR 1,010.2 million) still at a high level.
- Forecast for total Group revenues raised from about EUR 1.7 billion to about EUR 1.8 billion.


Schrobenhausen - The first half of 2017 has gone according to plan for the BAUER Group. For the total Group revenues, the international construction and machinery concern has increased its forecast from about EUR 1.7 billion to about EUR 1.8 billion.

The total Group revenues have developed better than expected and amounted to EUR 916.4 million at the end of the second quarter. This figure is 21.1% up on the previous year (EUR 757.0 million). The sales revenues increased by 27.8% from EUR 649.8 million to EUR 830.2 million. EBIT increased by 39.7% from EUR 18.4 million to EUR 25.7 million. The earnings after tax were already in a positive range with EUR 0.1 million (previous year: EUR -7.9 million). The order backlog grew by 3.4% to EUR 1,044.7 million (previous year: EUR 1,010.2 million) and is still at a high level.


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, excellent capacity utilization in all of the world's markets ensures a significant increase in revenues. The fact that, from the start of the year, most projects were able to start without delay also contributed to this. The total Group revenues of the segment increased by 31.6% to EUR 436.6 million. EBIT decreased from EUR 5.3 million year-on-year to EUR 2.9 million for the period. This figure was negatively impacted by effects related to exchange rate fluctuations as well as by individual unsatisfactory projects in Germany and Australia - projects which have been completed as far as possible in the meantime. Earnings after tax of EUR -4.2 million were identical to the previous year (EUR -4.2 million). The order backlog is still at a high level with EUR 526.4 million but 8.4% lower than the previous year's figure. This is because, at the end of 2016, a high double-digit million order backlog was taken off the books after the sale of shares in a real estate company. If this is taken into account, the order backlog has risen.

The Equipment segment benefited from significantly more sales as well as successful deliveries of large machinery and specialist equipment. Therefore, the total Group revenues increased by 21.8% from EUR 312.4 million to EUR 380.7 million. Sales revenues increased by 40.1% to EUR 312.3 million. The EBIT increased from EUR 13.4 million to EUR 22.3 million as a consequence of the increase in sales. Earnings after tax improved from EUR -0.1 million to EUR 6.6 million. The trend toward increased and more stable order intake from virtually all regions of the world, which started in the fall of 2016, continued. Order backlog increased from EUR 141.1 million to EUR 201.7 million.

In the Resources segment, the slow recovery of the raw materials market has had an effect on revenues and earnings. A project of our brewery business and other necessary reorganization expenses are also having an negative impact. Nevertheless, even in this segment, the key financial figures meet expectations. The total Group revenues in the first half of the year were EUR 128.2 million (previous year: EUR 139.0 million). EBIT amounted to EUR 0.2 million (previous year: EUR -0.1 million) and earnings after tax to EUR -4.0 million (previous year: EUR -4.4 million). The segment has a order backlog with a volume of EUR 316.6 million, 7.6% up on the previous year.


Outlook

"The good start to the year has continued into the second quarter and we assume that the dynamics will last into the second half of the year," says Prof. Thomas Bauer, Chairman of the Management Board of BAUER Aktiengesellschaft. "That's why we are raising our expectations regarding the total Group revenues from about EUR 1.7 billion to about EUR 1.8 billion." The earnings forecast for the whole year remain unchanged: earnings after tax of about EUR 23 to 28 million and EBIT of about EUR 75 million. The currently known positive and negative factors, financial provisions and other discernible effects are also to be considered.

You can read the full Half-Year Interim 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 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 2016 it employed some 10,800 people in around 70 countries and achieved total Group revenues of EUR 1.6 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 2017 (IFRS)

  2016 2017 Change
  in EUR million in EUR million  
Total Group revenues 757.0 916.4 +21.1%
of which      
- Construction 331.9 436.6 +31.6%
- Equipment 312.4 380.7 +21.8%
- Resources 139.0 128.2 -7.7%
- Other/Consolidation -26.3 -29.1 n/a
Sales revenues 649.8 830.2 +27.8%
Order intake 771.6 953.0 +23.5%
Order backlog 1,010.2 1,044.7 +3.4%
EBITDA 62.7 72.5 +15.5%
EBIT 18.4 25.7 +39.7%
Earnings after tax -7.9 0.1 n/a
Equity 417.3 422.4 +1.2%
Equity ratio 24.3% 23.8% n/a
Earnings per share in EUR -0.56 -0.08 n/a
Number of employees (average number during the year) 10,609 10,890 +2.6 %


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


11.08.2017 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: [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, Tradegate Exchange

 
End of News DGAP News Service

600717  11.08.2017 

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© DGAP, source Corporate News

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Financials (€)
Sales 2017 1 627 M
EBIT 2017 78,0 M
Net income 2017 24,9 M
Debt 2017 636 M
Yield 2017 0,70%
P/E ratio 2017 19,48
P/E ratio 2018 14,03
EV / Sales 2017 0,69x
EV / Sales 2018 0,66x
Capitalization 485 M
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Number of Analysts 4
Average target price 25,1 €
Spread / Average Target -11%
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Managers
NameTitle
Thomas Bauer Chief Executive Officer
Klaus Reinhardt Chairman-Supervisory Board
Hartmut Beutler Chief Financial Officer
Manfred Nußbaumer Member-Supervisory Board
Robert Feiger Vice Chairman-Supervisory Board
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