All Stories
Subscribe to BAUER Aktiengesellschaft

BAUER Aktiengesellschaft

Bauer starts 2007 with good first quarter

Schrobenhausen, May 15, 2007 - (euro adhoc) -

. Increase in total Group revenues to around EUR 263 million
. Improvement in first quarter profit to EUR 3.6 million
. Confirmation of positive outlook for 2007 financial year
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
The construction and
equipment manufacturing group BAUER Aktiengesellschaft, which since 
July 4, 2006 has been listed in official trading (Prime Standard) on 
the Frankfurt Stock Exchange, has sustained its previous year 
performance into the first quarter of the current financial year 
(January 1 to March 1, 2007), achieving healthy increases in revenue 
and earnings in virtually all areas.
Bauer increased first quarter total Group revenues by just under 24 
percent to around EUR 263 million (previous year: EUR 212 million). 
Earnings before interest and taxes (EBIT) increased even more 
strongly, by more than EUR 8 million, to around EUR 11.9 million 
(previous year: EUR 3.5 million). Consolidated profit increased 
substantially to EUR 3.6 million (previous year: EUR -0.3 million).
The strong growth again results from the outstanding performance of 
the Group's Equipment segment. Based on much higher demand for 
machinery, total revenues in that segment increased by 45.8 percent 
in the first quarter to around EUR 143 million (previous year:  EUR 
98 million) and earnings before interest and taxes (EBIT) improved 
substantially to around EUR 15.7 million (previous year: EUR 6.8 
The Construction segment increased its first quarter total revenues 
by around 9 percent to EUR 131 million (previous year: EUR 120 
million). First quarter performance was boosted, especially in 
Germany, by the mild weather at the beginning of the year. In line 
with seasonal trends in the construction industry, however, EBIT was 
slightly negative, at EUR -0.9 million (previous year: EUR -2.6 
million). The main reason for this result was the still 
unsatisfactory level of prices in Germany, particularly on 
large-scale projects. Over the full year Bauer expects its German 
construction operations to return a profit.
Orders in hand increased by less than revenues in the reporting 
period, because of the company's cautious approach to taking on new 
work in Germany, though attractive projects outside of Germany did 
result in an increase of just under 5 percent, to EUR 419.2 million 
(previous year: EUR 399.6 million).
Alongside substantial investments to expand equipment manufacturing 
capacities in Germany and internationally, Bauer will be driving 
forward its move into new market segments throughout the current 
year. The companies of the newly acquired German Water and Energy 
GmbH (GWE) group will be merged with Bauer's existing environmental, 
geothermal and mining businesses to form a new, third, segment named 
"Resources". "We see this as a major opportunity to grow our business
without abandoning our core competencies. It will reduce the 
dependence of our existing segments on specific business cycles 
because the new segment, though needing to apply the same technology 
as the existing segments, will be subject to its own entirely 
independent business cycle", states Chairman of the Management Board 
Professor Thomas Bauer.
Bauer expects Group performance to sustain its upward trend in 2007, 
with total Group revenues set to rise by over 20 percent to around 
EUR 1.2 billion and profit after tax at a minimum of EUR 45 million.
About Bauer
Bauer is a global provider of specialist foundation engineering and 
related services as well as a leading international vendor of 
specialist foundation engineering machinery, equipment and tools and 
related services.
The Group's operations are managed in two segments: Construction and 
Equipment. The Construction segment provides specialist foundation 
engineering services and also operates in the related fields of 
environmental technology, structure remediation, bridge-building and 
project development. In its Equipment segment, Bauer offers an 
extensive range of machinery, equipment and tools for specialist 
foundation engineering. The Group markets its products and services 
worldwide, through local sales companies and project management 
networks. The BAUER Group profits from the collaboration between its 
two segments. This means Bauer is able to offer innovative and highly
specialized complete solutions for specialist foundation engineering 
projects, providing all the necessary services and specialist 
Founded over 200 years ago, the BAUER Group today generates over two 
thirds of its total revenues outside of Germany. Employing over 5,500
people, the Group's total revenues were EUR 980 million (previous 
year: EUR 824 million) in 2006.
|                            |Q1 2006      |Q1 2007         |Change      |
|                            |in EUR       |in EUR million  |            |
|                            |million      |                |            |
|Total Group revenues*,      |212.3        |263.1           |+   23.9 %  |
|of which                    |             |                |            |
|-Construction               |119.9        |131.0           |+    9.3 %  |
|-Equipment                  | 98.3        |143.3           |+   45.8 %  |
|-Consolidation / Other      |- 5.9        |-11.2           |     n/a    |
|Consolidated revenues       |202.2        |252.6           |+   24.9 %  |
|Orders in hand              |399.6        |419.2           |+    4.9 %  |
|EBITDA                      | 14.8        | 23.5           |+   59.1 %  |
|EBIT,                       |  3.5        | 11.9           |+  244.3 %   |
|of which                    |             |                |            |
|-Construction               |- 2.6        |- 0.9           |     n/a    |
|-Equipment                  |  6.8        | 15.7           |+ 131.9 %   |
|-Consolidation / Other      |- 0.7        |- 2.9           |     n/a    |
|Profit**                    |- 0.3        |  3.6           |     n/a    |
|Earnings per share in EUR***| -0.03 EUR   |  0.20 EUR      |     n/a    |
|Employees                   |  5,353      |  5,830         |+   8.9 %   |
*     At variance with the consolidated revenues presented in the Group income
   statement, the total Group revenues presented here include portions of
   revenues from associated companies as well as revenues of non-consolidated
   subsidiaries and joint ventures.
**    Before minority interests.
***   Diluted and basic, following share split.
end of announcement                               euro adhoc 15.05.2007 08:00:00

Further inquiry note:

Bettina Mestenhauser
Head of Investor Relations
Telefon: +49(0)8252 97 1918

Branche: Construction & Property
ISIN: DE0005168108
WKN: 516810
Index: CDAX, Classic All Share, Prime All Share, SDAX
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade

Original content of: BAUER Aktiengesellschaft, transmitted by news aktuell

More stories: BAUER Aktiengesellschaft
More stories: BAUER Aktiengesellschaft