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| Datum : | 14.05.2014 |
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DGAP-News: BAUER Aktiengesellschaft: BAUER AG improves first-quarter total Group revenues and earnings |
| Meldung : | DGAP-News: BAUER Aktiengesellschaft / Key word(s): Interim Report/Quarter Results BAUER Aktiengesellschaft: BAUER AG improves first-quarter total Group revenues and earnings 14.05.2014 / 07:00 --------------------------------------------------------------------- - Total Group revenues up 14.3 percent to EUR 378.1 million - After-tax result improved by EUR 2.2 million: EUR 7.4 million loss as expected in line with seasonal norms - Solid levels of orders in hand according to expectations: 10.2 percent down against previous year comparative at EUR 721.1 million - Full-year forecast for 2014 reaffirmed Schrobenhausen - BAUER Aktiengesellschaft has made a good start to this year. Mild weather conditions in Germany, the good start made to projects in the international construction sector and improved order receipts in the machinery sector delivered a satisfactory first quarter. Total Group revenues rose by 14.3 percent from EUR 330.7 million to EUR 378.1 million. The net result for the period improved by EUR 2.2 million against the previous year comparative, showing a loss in line with seasonal norms of EUR 7.4 million (previous year: EUR 9.6 million). EBIT more than doubled from EUR 2.3 million to EUR 4.9 million. This trend is in line with the Group's seasonal performance, whereby a loss is made in the first quarter which can normally be balanced out over the following quarters. Solid levels of orders in hand, with medium-sized and larger projects, will ensure healthy capacity utilization in the months ahead. The orders in hand of EUR 721.1 million were down against the previous year comparative (EUR 803.4 million), as expected, because a number of last year's major projects have now been completed. Business segments With its three segments - Construction, Equipment and Resources - the Group operates a widely diversified yet well-balanced business model and an international network. The Construction segment improved its total Group revenues by 15.0 percent to EUR 176.5 million. Segment EBIT improved by EUR 1.1 million to EUR 1.4 million. Orders in hand declined to EUR 429.5 million (previous year: EUR 512.6 million) because a number of major projects were completed. The Equipment segment's total Group revenues increased by 8.8 percent to EUR 165.8 million. The first quarter was characterized by stronger margins and increased sales of large machinery. This had a positive effect on EBIT, which improved from EUR 3.8 million to EUR 5.6 million. Orders in hand of EUR 118.1 million (previous year: EUR 126.2 million) were slightly down. Demand remains lively, though ordering and delivery lead times are still very short. The Resources segment increased its total Group revenues by 24.0 percent to EUR 48.4 million. Segment EBIT was the same as the previous year comparative of EUR -3.6 million. The segment has high levels of orders in hand totalling EUR 173.4 million, though that figure is somewhat down against the peaks seen in the past. The segment - operating in the fields of water, energy, mineral resources and environmental technology - is currently undergoing a reorganization. Outlook Chairman of the Management Board Prof. Thomas Bauer comments: "We have made a positive start to the new year, and we expect that healthy trend to continue. A further pleasing factor is that we have placed our financing on a new long-term basis." In mid-April, the Group agreed a three-year syndicated loan with its bankers providing a EUR 450 million credit facility. BAUER AG reaffirms the full-year forecast it made in April 2014, predicting total Group revenues of around EUR 1.55 billion and profit after tax of around EUR 20 to 25 million, equating to 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 spread 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 carries out specialist foundation engineering work for complex excavation pits and foundations on major infrastructure and building projects all over the world, installing cut-off walls and carrying out ground improvement works as well as providing related project development services. 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 pools the Group's activities in the fields of water, energy, mineral resources and environmental technology. 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. Employing some 10,300 people, the Group's total revenues in 2013 were approximately EUR 1.5 billion (previous year: EUR 1.44 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 2014 (IFRS) 2013* 2014 Change in EUR in EUR million million Total Group revenues 330.7 378.1 +14.3 % of which - Germany 96.0 112.5 +17.2 % - International 234.7 265.6 +13.2 % of which - Construction 153.5 176.5 +15.0 % - Equipment 152.4 165.8 +8.8 % - Resources 39.1 48.4 +24.0 % - Other/Consolidation -14.3 -12.6 n/a Consolidated revenues 309.6 371.1 +19.9 % Sales revenues 262.6 313.4 +19.3 % Orders received 349.1 333.9 -4.3 % Orders in hand 803.4 721.1 -10.2 % EBITDA 23.1 27.5 +19.0 % EBITDA margin (as % of sales revenues) 8.8 % 8.8 % n/a EBIT (earnings before interest and 2.3 4.9 n/a taxes) EBIT margin (as % of sales revenues) 0.9 % 1.6 % n/a Net profit or loss -9.6 -7.4 n/a Shareholders' equity 457.1 405.9 -11.2 % Equity ratio 28.4 % 24.8 % n/a Earnings per share in EUR -0.54 -0.45 n/a Employees (on average over the year) 10,176 10,358 +1.8 % * 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 investor.relations@bauer.de www.bauer.de End of Corporate News --------------------------------------------------------------------- 14.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------- 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: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 268188 14.05.2014 |
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