DGAP-Adhoc: Bilfinger SE: Preliminary figures for March 31,

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Apr 22, 2015 at 1:00 PM

DGAP-Adhoc: Bilfinger SE: Preliminary figures for March 31, 2015: Negative earnings in first quarter; earnings expectations for 2015 reduced; comprehensive measures for efficiency enhancement and capacity adjustments planned

Bilfinger SE / Key word(s): Quarter Results/Change in Forecast 22.04.2015 18:27 Dissemination of an Ad hoc announcement according to Â§ 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- The first three months of financial year 2015 were disappointing for Bilfinger. Preliminary figures show that adjusted EBITA amounted to minus EUR8 million (previous year: EUR47 million). Adjusted net profit from continuing operations of minus EUR21 million was also well below the prior-year figure (EUR26 million). Output volume amounted to EUR1,763 million (previous year: EUR1,715 million). In the Industrial business segment, with an output volume of EUR835 million (previous year: EUR833 million), earnings declined from EUR31 million to EUR9 million, due in particular to the difficult situation in the European and US oil and gas sectors. As a result of a lack of demand in the power plant business in Germany and in other European countries, the Power business segment reported an EBITA of minus EUR18 million (previous year: EUR16 million) with an output volume of EUR287 million (previous year: EUR320 million). The reason for the weak development in these two segments was the underutilization of capacities in a number of areas as well as worsened earnings in individual projects. The Building and Facility business segment, on the other hand, continued to develop positively. Output volume was EUR658 million (previous year: EUR584 million) and EBITA increased from EUR12 million to EUR18 million as a result of acquisitions. Orders received in the Group in the first quarter of 2015 amounted to EUR2,046 million (previous year: EUR1,870 million). In the Industrial business segment, orders received of EUR840 million were at the level of the previous year (EUR834 million). In the Power business segment, orders received declined to EUR325 million (previous year: EUR422 million). By contrast, orders received in the Building and Facility business segment increased significantly to EUR917 million (previous year: EUR636 million). Order backlog of EUR5,913 million was below the previous year figure of EUR6,638 million. Bilfinger is reacting to this business development with a range of measures: these include further efficiency improvements in administrative functions as well as capacity adjustments in selected areas of the Industrial business segment. In the Power business segment, on top of capacity adjustments that have already been carried out, an extensive restructuring and a fundamental realignment will also be undertaken. The objectives of these measures include the achievement of additional savings, a further reduction of over-capacity, a greater level of cost flexibility and a lowering of project risks. In addition, the portfolio will be further focused in the course of Group development. Bilfinger will not meet the output volume and earnings forecast it issued for financial year 2015. The company expects a considerable decrease in adjusted EBITA as compared to the prior-year figure of EUR270 million. Primary reasons include the negative development of the oil and gas business which was more pronounced than expected, especially in the USA as well as ongoing weakness in demand in the Power business segment. The Building and Facility business segment is developing in line with the forecast. For the same reasons, adjusted net profit from continuing operations will also be substantially below the prior-year figure of EUR175 million. Further, a range of special items will also have an impact on net profit, especially restructuring expenses. In the case of further upheaval in the power plant sector in financial year 2015 and depending on the future strategic alignment of the Power business segment, a goodwill impairment of the divisions in this segment cannot be ruled out. Bilfinger intends to issue a quantitative forecast for financial year 2015 as soon as the change in the Executive Board Chairmanship has been completed and the new committee has had an opportunity to carefully analyze and evaluate the prospects for the current financial year. The complete Interim Report Q1 2015 with the final figures will be published on May 7, 2015. 22.04.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Bilfinger SE Carl-ReiÃ-Platz 1-5 68165 Mannheim Germany Phone: +49 (0621) 459-0 Fax: +49 (0621) 459-23 66 E-mail: sabine.klein@bilfinger.com Internet: http://www.bilfinger.com ISIN: DE0005909006 WKN: 590900 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich End of Announcement DGAP News-Service ---------------------------------------------------------------------------

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Uber Data Breach: Class Action Investigation Begins

When Tech Meets Trouble: Uber's Data Breach Picture this: the hum of Uber rides weaving through your city, drivers none the wiser that personal info has been pried from the vaults thanks to their tech partner, Fireworks AI. Uber, folks, is in hot water once again. This isn’t just another tech hiccup; it's a legal whirlwind brewing up courtesy of Edelson Lechtzin LLP, a...

Motphys Unleashes MotrixSim 1.0, Aiming at Simulation Dominance

Motphys Breaks into the Global Simulation Scene The tech world just got slammed with what might be a seismic shift: Motphys, a bold outfit hailing from China, has dropped its brand-new, homegrown simulation engine, MotrixSim 1.0. It's causing quite the stir, unveiling at the Conference on Robot Learning 2026 (CoRL) and throwing down the gauntlet to Western titans like...

Greenberg Traurig's Brad Kaufman: A Mentor of Resolute Impact

A Milestone for Mentorship at Greenberg Traurig In the often cutthroat jungle of law, finding someone who actually gives a damn about you is as rare as finding a unicorn. Yet, there it is—Brad Kaufman, at the helm of Greenberg Traurig's professional development, proving that mentorship can be more than just a checkbox on a quarterly review. Award for Exceptional...

Manhattan Associates Faces Investigation by KSF Law Firm

KSF Digs Into Manhattan Associates' Claims In the swirl of the financial world, you rarely see an investigation that doesn’t raise a few eyebrows. This time, it's Manhattan Associates, Inc. (NasdaqGS: MANH) squarely in the crosshairs of Kahn Swick & Foti, LLC (KSF), a pivotal player in securities litigation. You’ve got to wonder what dirt might be uncovered here,...

MV Transportation Celebrates Leadership Nomination for FTA

MV Throws Support Behind Aesch for FTA Role In this wild world where public transit feels the heat from financial burdens, MV Transportation's recent move to support Mark Aesch for the Federal Transit Administration's top spot isn’t just a nod of approval—it's a full-blown trumpet blast. They're not just doling out a basic endorsement here; they're practically waving...

BETR's Slide: Investors Face Big Losses, Leadership Shift

BETR Investors Left in the Lurch It's a real trainwreck, folks. Better Home & Finance Holding Company, trading under NASDAQ:BETR, is in the spotlight for all the wrong reasons. The company expanded the class period for its investor lawsuit to include even more dates between March and August 2026, reflecting a torturous ride for shareholders. Their stock cratered by a...

Novo's Research Unlocks New Insights into Food Noise

Unpacking the Science Behind Food Noise When folks think about losing weight, most picture shedding pounds and fitting into those elusive smaller jeans. But get this—there’s a curveball called ‘food noise’ that’s making waves in obesity treatment. Novo Nordisk’s semaglutide injections are shaking things up, cutting down on those persistent thoughts about food....

LaserAway Expands to 244 Clinics Over 20 Years

A Milestone in Aesthetic Dermatology Twenty years, folks. That's a long haul for most businesses, let alone one in the fickle field of aesthetic dermatology. LaserAway, the juggernaut in this arena, has just opened its 244th clinic at 6300 Kingery Hwy in Willowbrook, IL. Nothing to be sneezed at. Imagine running a business, let alone one that's been amping up aesthetic...

Webull Faces Class Action: Key Details for Investors

What's Really Going on With Webull? When you hear there's a class-action lawsuit brewing, you know something's gone real sideways. Webull Corporation (NASDAQ: BULL) finds itself neck-deep in a securities fraud class action alleging some dicey dealings with China. If you've got skin in the game—and if you bought Webull stock between April 26, 2025, and October 6,...

CARsgen's CAR-T Breakthrough on China's Insurance List

A Game Changer for CAR-T Therapies There's a breeze of optimism blowing from Shanghai these days—a rare sensation in this market of endless skirmishes. CARsgen Therapeutics Holdings Limited, a company entrenched in the development of cutting-edge CAR T-cell therapies, just notched a victory. They've announced that their CAR T-cell therapy product, satricabtagene...