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EANS-News: BAUER Aktiengesellschaft
BAUER AG performing fully to plan after
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Financial Figures/Balance Sheet/quarterly report/3-month report Subtitle: Total Group revenues up 10.6 percent to EUR 340.0 million Orders in hand up 12.0 percent to EUR 751.6 million After-tax loss of EUR 4.8 million as expected due to seasonal factors; EBIT of EUR 6.2 million slightly down year-on-year Full-year forecast for 2012 reaffirmed Schrobenhausen (euro adhoc) - International construction engineering and machinery manufacturing concern BAUER Aktiengesellschaft is performing fully to plan as at the end of first quarter 2012. Total Group revenues rose in the first three months of the year by 10.6 percent from EUR 307.5 million to EUR 340.0 million. Orders in hand increased by 12.0 percent to EUR 751.6 million (previous year: EUR 671.3 million). The increase is primarily related to large-scale construction projects. As expected, the BAUER Group had to combat the after-effects of last year's disturbances, which hampered results. Weather conditions also had an effect, as did the usual seasonal tendency of customers to be cautious in placing orders at the start of the year. This is a trend that has increased due to the financial turbulence of recent years. As a consequence, earnings were slightly down against the previous year comparative period. While EBIT (earnings before interest and taxes) of EUR 6.2 million was only slightly down on the previous year comparative of EUR 6.7 million, an after-tax loss of EUR 4.8 million was made (previous year: after-tax loss of EUR 2.6 million). This is in line with the normal seasonal trend in the Group's business, featuring a weaker start to the year which is then balanced out over the subsequent months. 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 has had a good start to the year. Major projects in Hong Kong and Malaysia, especially, contributed to a 26.1 percent rise in total Group revenues from EUR 124.4 million to EUR 156.9 million. A further factor was that massive disturbances relating to the "Arab Spring" had resulted in relatively low revenues last year. A better ratio of fixed costs to revenues resulted in an improvement in EBIT from EUR -1.3 million to EUR 2.2 million. The Equipment segment continued to feel the impact of customers showing restraint in their investments. The machinery business booked slightly fewer orders in the first quarter, and its total Group revenues of EUR 140.7 million were 12.0 percent down against the previous year comparative quarter. Segment EBIT fell by EUR 4.4 million to EUR 4.9 million. The Resources segment increased its total Group revenues by 48.6 percent to EUR 58.1 million (previous year: EUR 39.1 million). Segment EBIT was depressed by problems on a well-drilling project in Jordan, and at EUR -0.6 million was slightly down against last year. Orders in hand and outlook Orders in hand increased in the reporting period by 12.0 percent to EUR 751.6 million (previous year: EUR 671.3 million). This growth was driven mainly by the Construction segment, which increased its orders in hand by 25.2 percent to EUR 463.0 million thanks to ongoing large-scale projects. Orders in hand in the Equipment segment totalling EUR 133.6 million were virtually unchanged against the previous year comparative quarter (EUR 133.8 million). Chairman of the Management Board Professor Thomas Bauer comments: "The growth in the Equipment segment is being driven primarily by new products. We see particularly high potential in our large-diameter rotary drilling rigs, in our new deep drilling rigs for extracting oil, gas and water, and in our new developments for offshore foundations. The great interest in our specialist machinery was demonstrated by the in-house exhibition we held in early May at our home base in Schrobenhausen, which attracted 2,200 visitors." The Resources segment has outstandingly high levels of orders in hand: as at the end of the first quarter they totalled EUR 155.0 million, compared to EUR 167.8 million at the same date last year. All in all, the Group recorded a healthy order intake totalling EUR 341.6 million (previous year: EUR 363.9 million). BAUER AG has reaffirmed its full-year forecast for 2012, and according to the performance data currently available expects to achieve total Group revenues of EUR 1,450 million, profit after tax of around EUR 35 million, and EBIT of around EUR 85 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 ancillary 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. Its business is 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 9,700 people, the Group's total revenues in 2011 were approximately EUR 1.4 billion (previous year: EUR 1.3 billion). BAUER Aktiengesellschaft has been listed on the official market of the Frankfurt Stock Exchange since July 4, 2006 (Prime Standard, ISIN DE0005168108). You can also visit us on YouTube: http://www.youtube.com/BAUERGruppe GROUP KEY FIGURES January - March 2012 (IFRS) | |2011 |2012 |Change | | |in EUR million |in EUR million | | |Total Group revenues |307.5 |340.0 |+10.6 % | |of which | | | | |- Germany |70.2 |82.2 |+17.0 % | |- International |237.3 |257.8 |+8.7 % | |of which | | | | |- Construction |124.4 |156.9 |+26.1 % | |- Equipment |159.8 |140.7 |-12.0 % | |- Resources |39.1 |58.1 |+48.6 % | |- Other/Consolidation |-15.8 |-15.6 |n/a | |Consolidated revenues |301.0 |328.4 |+9.1 % | |Sales revenues |255.4 |286.2 |+12.1 % | |Orders received |363.9 |341.6 |-6.1 % | |Orders in hand |671.3 |751.6 |+12.0 % | |EBITDA |25.5 |28.1 |+10.2 % | |EBITDA margin (as % of sales |10.0 % |9.8 % |n/a | |revenues) | | | | |EBIT |6.7 |6.2 |-7.5 % | |EBIT margin (as % of sales |2.6 % |2.2 % |n/a | |revenues) | | | | |Net profit or loss |-2.6 |-4.8 |n/a | |Shareholders' equity |430.7 |462.2 |+7.3 % | |Equity ratio |30.7 % |29.5 % |n/a | |Earnings per share in EUR |-0.19 |-0.27 |n/a | |Employees (on average over the |9,653 |10,032 |+3.9 % | |year) | | | | Further inquiry note: Christopher Wolf Investor Relations Tel.: +49 8252 97 1797 E-Mail: firstname.lastname@example.org end of announcement euro adhoc -------------------------------------------------------------------------------- company: BAUER Aktiengesellschaft BAUER-Straße 1 D-86529 Schrobenhausen phone: +49 (0)8252-97-1797 FAX: +49 (0)8252-97-2900 mail: email@example.com WWW: http://www.bauer.de sector: Construction & Property ISIN: DE0005168108 indexes: SDAX, CDAX, Classic All Share, Prime All Share stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English