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BAUER AG
Exchanges: Frankfurt

The Group's principal activity is construction service. The Group operates through three segments. i) Construction segment: The core business of the Construction segment is foundation engineering. Excavation of pits and foundation works are carried out for major infrastructure projects. Their work includes bridges, environmental engineering and remediation projects. ii) Equipment segment: In the Equipment segment, machinery for all foundation engineering processes is developed and manufactured. The equipment can be employed to produce large-diameter and small-diameter bores for piles, diaphragm walls, anchors, injections and wells. Equipment for ramming and soil improvement is also manufactured. iii) Other segment: The Other segment comprises the central services for the Group's business units such as accounting, human resources, IT etc. The Group operates in Germany, Rest of Europe, Middle East, Far East, America and Others.

http://www.bauer.de



11.04.2013 BAUER AG achieves healthy growth and increases orders in hand in 2012

Total Group revenues up 5.4 percent to EUR 1,445.6 million.
Net profit for the period of EUR 25.3 million (previous year: EUR 34.1 million) in line with forecast.
Orders in hand up 4.7 percent to EUR 785.0 million (previous year: EUR 750.0 million).
Forecast for 2013: Total Group revenues expected to rise above EUR 1.5 billion, with after-tax profit of above EUR 30 million and EBIT of around EUR 85 million.
Proposed dividend: EUR 0.30 per share (previous year: EUR 0.50 per share).

Schrobenhausen/Munich  – The international construction and machinery manufacturing company sees itself as strategically well positioned to cope with volatile markets and an uncertain business climate. This was underlined by Chairman of the Management Board of BAUER Aktiengesellschaft Professor Thomas Bauer on the occasion of today's annual press conference. "The fact that our Group has a presence all over the world and offers a broad range of products and services relating to ground and groundwater has proved advantageous to us," he comments. "We have met our forecast targets, and we have to be pleased with the results achieved." Business in the course of the year was hampered by problems on some large projects, and above all by a reluctance to invest on the part of machinery customers.

Total Group revenues rose by 5.4 percent from EUR 1,371.8 million to EUR 1,445.6 million. Net profit of EUR 25.3 million was in line with forecasts but down against the previous year (EUR 34.1 million). EBIT (earnings before interest and taxes) decreased from EUR 82.3 million to EUR 71.4 million.

The Management Board and Supervisory Board propose that a reduced dividend of EUR 0.30 per share be paid (previous year: EUR 0.50). This corresponds to a dividend payout ratio of approximately 21 percent referred to earnings after deducting minority interests.


Business segments
With its three segments – Construction, Equipment and Resources – and its broadly diversified business model, the Group operates in some 70 countries around the world.

The Construction segment improved its performance significantly after a decline in 2011. It handled a number of large projects, enabling it to increase total Group revenues by 8.3 percent to EUR 656.8 million (previous year: EUR 606.6 million). Segment EBIT increased by 21.9 percent to EUR 21.8 million (previous year: EUR 17.9 million). The sale of a real estate development project made a positive contribution to earnings.

The segment's orders in hand at the 2012 year-end reached a record level of EUR 513.1 million. Among the prestige projects on its books, Bauer has been contracted to carry out the foundation works for two buildings which will become respectively the tallest in Europe and in the world: the Lakhta Tower in St. Petersburg and the Kingdom Tower in Jeddah, Saudi Arabia. Work on another major project, the remediation of the Center Hill Dam in the USA, has already started.

The Equipment segment saw its revenues and earnings fall in the past financial year. Total Group revenues decreased by 6.3 percent against the previous year to EUR 596.1 million (previous year: EUR 636.5 million). In view of machinery customers' general reluctance to invest, and with the plants operating at lower capacity, higher fixed costs relative to the fall in revenues impacted negatively on earnings. Segment EBIT decreased by 36.4 percent from EUR 53.0 million to EUR 33.7 million.

In its machinery business, Bauer profits primarily from its strength in large, custom-built, highly specialized rigs. As a large number of units were delivered in December 2012, orders in hand at the year-end of EUR 113.1 million were relatively low, and 2.7 percent down against the previous year. The company expects to see slight growth in 2013 thanks to new developments such as its specialist foundation engineering cranes and deep drilling rigs for oil, gas and geothermal energy extraction. In late 2012, six RB-T 90 rigs were sold to China for drilling of mine rescue shafts. The rigs will be manufactured and delivered in 2013.

Ongoing trends in the Resources segment remain positive. Its total Group revenues increased by 24.8 percent from EUR 211.5 million to EUR 263.9 million. Segment EBIT rose by 39.2 percent to EUR 15.2 million. The major influence on performance came from large-scale projects: While well-drilling projects in Jordan returned significant losses as a result of wide-ranging problems, very healthy earnings were generated in Oman and from mining activities. Orders in hand of EUR 158.8 million (previous year: EUR 168.4 million) were again at a high level.


BAUER AG ends year fully to plan and looking to return to growth in 2011

Total Group revenues up 2.2 percent to EUR 1,304 million 
Profit after tax of EUR 39.8 million (previous year: EUR 42.0 million) to plan 
Orders received up 26.7 percent to EUR 1,410.0 million (previous year: EUR 1,113.1 million) 
Forecast for 2011: Total Group revenues up to EUR 1.4 billion and profit after tax up to over EUR 45 million 
Proposed dividend stable at 0.60 EUR per share
 
Schrobenhausen/Munich – International construction and machinery manufacturing concern BAUER Aktiengesellschaft today published its financial results for 2010. At the press conference in Munich, Chairman of the Management Board Professor Thomas Bauer stated that he was satisfied with the company's revenue and earnings performance, which had been as expected.

Total Group revenues increased slightly, by 2.2 percent from EUR 1,276 billion to EUR 1,304 billion. Earnings before interest and taxes (EBIT) went up by 4.7 percent to EUR 88.4 million (previous year: EUR 84.4 million). Profit after tax was EUR 39.8 million (previous year: EUR 42.0 million). The company has thus succeeded in stabilizing its performance following significant declines in the previous year. "The construction industry was one of the last sectors to achieve turnaround following the financial crisis, and we have made good use of opportunities as they have arisen on global markets," Professor Bauer commented.

The Management Board and Supervisory Board will propose to the Annual General Meeting that a stable dividend of EUR 0.60 per share be paid. This would represent a total payout of EUR 10.3 million, corresponding to around 30 percent of net earnings.
 
 
 
 

 

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