|
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.
|
