DGAP-News: BAUER AG with good start to the financial year
14.05.2019 (www.4investors.de) -
DGAP-News: BAUER Aktiengesellschaft / Key word(s): Quarterly / Interim Statement/Quarter Results
BAUER AG with good start to the financial year
14.05.2019 / 07:00
The issuer is solely responsible for the content of this announcement.
- Total Group revenues increase by 10.8% to EUR 410.9 million, sales revenues increase by 7.4% to EUR 341.9 million.
- EBIT with EUR 10.5 million is slightly lower than the previous year (EUR 11.1 million); earnings after tax are EUR -5.1 million (previous year: EUR -5.8 million)
- Order backlog with EUR 1,022.6 million at high level (previous year: EUR 1,036.0 million)
- Full-year forecast confirmed
Schrobenhausen - The BAUER Group had a good start to the 2019 financial year. After the first quarter, the international construction and machinery manufacturing concern is on target and had a significant increase in total Group revenues. Growth was recorded in particular in the Construction and Resources segments. "The order situation is good and there are many opportunities on the markets that we can use," said Michael Stomberg, Chairman of the Management Board, and confirmed the forecast that the company published for the entire year at the annual press conference a few weeks ago.
The total Group revenues recorded a plus of 10.8% to EUR 410.9 million. Sales revenues rose by 7.4% to EUR 341.9 million. EBIT fell slightly from EUR 11.1 million to EUR 10.5 million. Earnings after tax were EUR -5.1 million (previous year: EUR
-5.8 million). At EUR 1,022.6 million, the order backlog of EUR 1,036.0 million is only slightly below the previous year and somewhat higher than at the end of 2018, when it amounted to EUR 1,013.6 million. Order intake decreased slightly by 2.1%, from EUR 429.0 million to EUR 419.8 million.
With its three segments - Construction, Equipment and Resources - and its broadly diversified business model, the Group operates in more than 110 subsidiaries in some 70 countries around the world.
In the Construction segment, the total Group revenues of EUR 170.2 million are with 12.8% significantly higher than the previous year at EUR 150.9 million, which is due to the general volatility of the portfolio in ongoing projects. After the first three months, EBIT nearly entered the positive range, after an unusually good value of EUR 2.7 million was reached due to projects in the previous year. Order backlog increased significantly by 6.8%, from EUR 511.3 million to EUR 545.8 million. Order intake of EUR 168.7 million was approximately the same as the previous year's level of EUR 169.5 million.
In the first three months, total Group revenues in the Equipment segment increased by 2.7% year-on-year, to EUR 185.8 million. Sales revenues decreased slightly by 2.5% to EUR 125.3 million. EBIT fell from EUR 14.2 million to EUR 8.2 million. Included in this is a non-operating charge in the amount of EUR 4.5 million, which is attributable to an earnings-affecting restructuring of a subsidiary, which was transferred from the Resources segment to the Equipment segment. Order intake decreased by 18.0% from EUR 226.6 million to EUR 185.8 million, meaning that order backlog was EUR 149.9 million (previous year: EUR 195.1 million) at the end of the quarter. Conversations with customers at the Bauma trade fair in Munich in April and the current sales figures mean that it can be expected that the order situation will continue to develop well in the coming months.
Total Group revenues in the Resources segment significantly increased by 33.8% from EUR 51.7 million in the previous year to EUR 69.1 million. EBIT increased from EUR -5.7 million to EUR 2.7 million. This includes the positive non-operative contribution to earnings of EUR 4.5 million, which resulted from the reassignment of a subsidiary to the Equipment segment. Regardless of this effect, the segment also developed better in operational terms. Order backlog was EUR 326.9 million, remaining approximately at the previous year's level of EUR 329.6 million. Order intake increased by 74.8%, from EUR 45.5 million to EUR 79.6 million.
The company confirms its full-year forecast provided at the annual press conference in mid-April. This forecasts total Group revenues of about EUR 1.7 billion and EBIT of around EUR 95 million. Earnings after tax are expected to be significantly higher than in the previous year.
The full quarterly statement is available online at http://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 a high potential for synergy: 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 segment, Bauer focuses on highly innovative products and services in the areas of water, environment and natural resources.
Bauer profits greatly from the collaboration between its three separate business divisions, enabling the Group to position itself as an innovative and 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 2018 it employed some 12,000 people in around 70 countries and achieved total Group revenues of EUR 1.7 billion. BAUER Aktiengesellschaft is listed in the Prime Standard segment of the German stock market.
More information can be found at http://www.bauer.de.
GROUP KEY FIGURES January - March 2019 (IFRS)
in EUR million
in EUR million
Total Group revenues
Earnings after tax
Employees (average number during the year)
86529 Schrobenhausen, Germany
Phone: +49 8252 97-1797
Fax: +49 8252 97-2900
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