DGAP-News

BAUER Aktiengesellschaft: BAUER AG confirms a turnaround in business operations in the first quarter

DGAP-News: BAUER Aktiengesellschaft / Key word(s): Quarterly / Interim Statement/Quarter Results BAUER Aktiengesellschaft: BAUER AG confirms a turnaround in business operations in the first quarter 15.05.2017 / 07:00 The issuer is solely responsible for the content of this announcement. - Total Group revenues rose significantly by 18.9 % to EUR 455.7 million; sales revenues increased by 19.3 % to EUR 379.0 million - EBIT improved to EUR 8.5 million (previous year: EUR 4.8 million) and earnings after tax to EUR -3.9 million (previous year: EUR -9.6 million) - Order backlog grew by 4.3 % to EUR 1,044.3 million (previous year: EUR 1,001.0 million)   Schrobenhausen, Germany - Business of the BAUER Group started off extraordinarily well in the first quarter of 2017. The key figures of the international construction and machinery manufacturing concern show significant growth and confirm the turnaround in business operations.

The total Group revenues recorded a plus of 18.9 % to EUR 455.7 million (previous year: EUR 382.2 million). EBIT improved from EUR 4.8 million to EUR 8.5 million. The earnings after tax with EUR -3.9 million were significantly higher than the previous year's value (EUR -9.6 million). The order backlog rose by 4.3 % from EUR 1,001.0 million to EUR 1,044.3 million - a considerable growth, considering that a high double-digit million order backlog was taken off the books after the sale of shares in a real estate company at the end of 2016.

Business segments

With its three segments - Construction, Equipment and Resources - and its broadly diversified business model, the Group operates through more than 110 subsidiaries in some 70 countries around the world.

In the Construction segment, almost all projects began without delay. The total Group revenues increased by 33.5 % to EUR 213.4 million. EBIT declined slightly from EUR 1.0 million to EUR -0.2 million, which has little significance in the first quarter due to seasonality. The order backlog in specialist foundation engineering grew markedly. Due to the derecognized order backlogs described above, the key figure showed a slight decline to EUR 578.3 million (previous year: EUR 584.7 million).