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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


14.11.2014 BAUER AG records higher total Group revenues and EBIT after nine months

Total Group revenues up 5.4 percent to EUR 1,163.2 million
EBIT increases from EUR 12.6 million to EUR 38.3 million
After-tax loss of EUR 5.0 million recorded
After-tax profit forecast concretized

Schrobenhausen – For the first nine months of the current financial year, total Group revenues for BAUER Aktiengesellschaft are up 5.4 percent from EUR 1,103.9 million to EUR 1,163.2 million. EBIT increased substantially over this period, from EUR 12.6 million to EUR 38.3 million. A negative net result of EUR -5.0 million was recorded for the period (previous year: EUR -21.4 million) caused by special effects and market disruptions. These include problems with a dam project in the US, which have caused losses in parallel with substantially higher income tax expense. Year-to-year comparability is not meaningful due to special effects affecting the previous-year after-tax result as well. Solid orders in hand valued at EUR 780.8 million (previous year: EUR 836.7 million) will keep capacity utilization at a good level over the months ahead.


Business segments

With its three segments – Construction, Equipment and Resources – the BAUER Group operates a widely diversified business model and an international network.

Total Group revenues in the Construction segment decreased slightly by 1.7 percent to EUR 533.3 million. The reason was the completion of a number of large projects in the second and third quarters of last year. The effect of this is seen as well in orders in hand, which is somewhat lower at EUR 465.9 million, down 6.4 percent (previous year: EUR 497.7 million). Segment EBIT improved by EUR 2.3 million to EUR 20.3 million. A net profit of EUR 2.4 million was recorded for the period (previous year: EUR 4.0 million).

Total Group revenues in the Equipment segment increased 11.4 percent to EUR 507.5 million. A number of complex machines were delivered in the first nine months of the year, improving margins. Segment EBIT rose from EUR 13.3 million to EUR 25.9 million for a net profit for the period of EUR 4.3 million versus EUR -3.4 million in the previous year. Orders in hand totaling EUR 142.7 million declined slightly relative to the previous-year figure of EUR 162.1 million. The specialist foundation engineering equipment business remains subject to intense competition and short order lead times combined with immediate delivery expectations.

Total Group revenues for the Resources segment rose 9.6 percent to EUR 160.6 million, driven mainly by sales of well construction materials and environmental technology. Our expectations for the Exploration & Mining area were not meet. Order flow has been impacted by severe weakness in the mining markets particularly in Africa. Segment EBIT came to EUR -5.7 million (previous year:
EUR -19.7 million) and the net result to EUR -11.0 million (previous year: EUR -23.9 million). Orders in hand for the segment are solid, valued at EUR 172.2 million (previous year: EUR 176.9 million).


Outlook

The outlook is fundamentally positive for the construction industry due to high worldwide pent-up demand for infrastructure and buildings. Prof. Thomas Bauer, Chairman of the Management Board of BAUER Aktiengesellschaft: "We are able to compensate for the many disturbances in markets like Russia, the Ukraine and Iraq quite well through business in other countries and regions. Our new products and services are on a good track." The Group has sold one of its largest deep drilling rigs, and chances for additional sales are good. Environmental expertise is furthermore in demand.

BAUER AG has concretized its guidance for financial year 2014. The Group continues to estimate total Group revenues of around EUR 1.55 billion and EBIT of around EUR 75 million for the current financial year. The after-tax profit is likely to come in at the lower end of the estimated range of EUR 15 to 20 million. Due to the problems outlined, we will only be able to achieve the target through a non-operating one-time income.

The full interim report, including a detailed analysis of the individual segments and markets, can be found online 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).

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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