DGAP-News

BAUER Aktiengesellschaft: Order backlog of BAUER AG at a record level - Seite 2

The order backlog in the Equipment segment developed satisfactorily in the
first three quarters, increasing from EUR 137.1 million to EUR 159.7
million. The main growth was generated by the deep drilling business and
small equipment. We expect further positive deliveries to our customers in
the fourth quarter. Total Group revenues increased slightly by 0.3 percent
to EUR 496.6 million, sales revenues were up by 1.5 percent from EUR 361.8
million to EUR 367.3 million. EBIT fell from EUR 25.6 million to EUR 24.6
million. The net result for the period was slightly down from EUR 4.3
million to EUR 4.2 million. The result was burdened by restructuring
measures at subsidiaries. The sale of 50 percent of the shares in SPANTEC
Spann- & Ankertechnik GmbH and the revaluation of the remaining 40 percent
of the shares generated a one-time income item to offset against
expenditure.

The total Group revenues of the Resources segment rose 10.4 percent to EUR
177.2 million (previous year: EUR 160.6 million). EBIT totaled EUR -1.2
million (previous year: EUR -1.9 million). The net result for the period
was EUR -7.8 million after EUR -7.2 million in the previous year.
Restructuring measures created significant costs during the current year.
On the other hand, the segment has an excellent order backlog with a volume
of EUR 273.7 million, 58.9 percent up on the previous year. The remediation
order for the former landfill site at Kesslergrube in Grenzach-Wyhlen made
an important contribution to this, amounting to more than EUR 100 million -
the biggest order in the company's history to date.


Outlook

With its high order backlog, the BAUER Group is looking to the future with
confidence. "On the one hand, we have to shoulder the expenditures of the
restructuring measures. On the other hand, we have a very good order
backlog, and there are additional favorable opportunities for the future,"
says Prof. Thomas Bauer, Chairman of the Management Board of BAUER
Aktiengesellschaft. These include a planned joint venture with
Schlumberger, which is intended to foster the deep drilling business. The
joint venture outlines a common approach for the development and
construction of larger deep drilling rigs for the oil, gas and geothermal
sectors. The negotiations are expected to be brought to a close during the
fourth quarter. The sales volume of the planned joint venture could soon
amount to more than one hundred million euros.

The forecast confirmed by the company up to the year-end is predicting
total Group revenues of around EUR 1.6 billion and EBIT of around EUR 75