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

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     |  15.05.2012, 07:06  |  191 Aufrufe  |   | 
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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

    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

    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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