June 13, 2012

Insolvency of Ararat Prison project company, Australia

Earnings forecast for the Group confirmed despite negative impact in the Concessions business segment

Bilfinger Berger is a shareholder in the project company which has undertaken to complete the Ararat Prison Public Private Partnership project in the Australian State of Victoria. Since the concession was awarded in May 2010, the project has suffered significant delays and additional costs, particularly in recent months. These have led to the insolvency of one of the construction partners in this project and to the stoppage of work on site. Within the short timeframe available, the affected project parties have not been able to agree on a joint way forward and the project company thus appointed a voluntary administrator this morning local time.

Bilfinger Berger holds a 50 percent stake in the project company. Due to these events, the Group will fully write off its equity investment of €15 million. Nevertheless, Bilfinger Berger continues to expect a significant increase in EBITA and net profit for the Group in 2012.