BAUER Aktiengesellschaft

EANS-News: BAUER Aktiengesellschaft
BAUER AG performing fully to plan after first quarter

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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: christopher.wolf@bauer.de

end of announcement                               euro adhoc 
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company:     BAUER Aktiengesellschaft
             BAUER-Straße  1
             D-86529 Schrobenhausen
phone:       +49 (0)8252-97-1797
FAX:         +49 (0)8252-97-2900
mail:     investor.relations@bauer.de
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
 



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