DGAP-News

BAUER Aktiengesellschaft: BAUER AG increases total Group revenues and starts the new financial year with an excellent order backlog - Seite 2

major subway construction sites in Doha, Riyadh and Cairo, and are also
involved in projects relating to the expansion of the Suez Canal. The
segment also maintained its high standard of the previous year in the
German construction market. Losses were recorded in Russia, where
construction has practically come to a standstill due to sanctions and the
depreciation of the rouble. Overall, the segment generated total Group
revenues of EUR 742.9 million in 2015. This figure is 2.4 % up on the
previous year (EUR 725.6 million). EBIT fell back from EUR 26.0 million to
EUR 13.9 million. The net result for the period was negative at EUR -7.3
million in the reporting year (previous year: EUR 2.5 million). This is
chiefly due to problems with the Center Hill dam project in the USA. As in
the previous year, the project, which was completed in 2015, created a
great financial burden and the US subsidiary had to implement restructuring
measures as a result. The order backlog increased further by 29.8 %
compared with 2014 (EUR 455.5 million), reaching the record level of EUR
591.1 million. Several major projects were also acquired as well as small
and medium-sized projects in all regions around the world.

Sales in the Equipment segment increased despite a difficult market
environment and the operating result reached a healthy level. Total Group
revenues rose by 17.8 % to EUR 753.1 million (previous year: EUR 639.2
million). This significant increase was primarily caused by exceptional
earnings. These were generated on the one hand by the sale and revaluation
of shares in SPANTEC Spann- und Ankertechnik GmbH. Another exceptional
result arose from the joint venture agreement with Schlumberger, the
world's leading supplier of technology, integrated project management and
information solutions for oil and gas industry customers. Schlumberger
invested 49 % each in two subsidiaries as part of a cash capital increase.
The sales revenues grew by 2.9 % to EUR 548.0 million (previous year: EUR
532.7 million). As a result of the exceptional earnings, the segment's EBIT
also increased significantly from EUR 36.0 million to EUR 99.4 million. The
net result for the period rose correspondingly from EUR 8.8 million to EUR
65.4 million. When disregarding the special effects, sales revenues
increased and EBIT reached a healthy level despite a difficult market
environment. New developments have also established themselves well in the
market. The deep drilling rigs business, which depends on crude oil prices,
proved a bigger concern, which is also reflected in the order backlog. It