14. Mai 2014, 00:00
Schrobenhausen - BAUER Aktiengesellschaft has made a good start to this year. Mild weather conditions in Germany, the good start made to projects in the international construction sector and improved order receipts in the machinery sector delivered a satisfactory first quarter.
Total Group revenues rose by 14.3 percent from EUR 330.7 million to EUR 378.1 million. The net result for the period improved by EUR 2.2 million against the previous year comparative, showing a loss in line with seasonal norms of EUR 7.4 million (previous year: EUR 9.6 million). EBIT more than doubled from EUR 2.3 million to EUR 4.9 million. This trend is in line with the Group's seasonal performance, whereby a loss is made in the first quarter which can normally be balanced out over the following quarters. Solid levels of orders in hand, with medium-sized and larger projects, will ensure healthy capacity utilization in the months ahead. The orders in hand of EUR 721.1 million were down against the previous year comparative (EUR 803.4 million), as expected, because a number of last year's major projects have now been completed.
With its three segments - Construction, Equipment and Resources - the Group operates a widely diversified yet well-balanced business model and an international network.
The Construction segment improved its total Group revenues by 15.0 percent to EUR 176.5 million. Segment EBIT improved by EUR 1.1 million to EUR 1.4 million. Orders in hand declined to EUR 429.5 million (previous year: EUR 512.6 million) because a number of major projects were completed.
The Equipment segment's total Group revenues increased by 8.8 percent to EUR 165.8 million. The first quarter was characterized by stronger margins and increased sales of large machinery. This had a positive effect on EBIT, which improved from EUR 3.8 million to EUR 5.6 million. Orders in hand of EUR 118.1 million (previous year: EUR 126.2 million) were slightly down. Demand remains lively, though ordering and delivery lead times are still very short.
The Resources segment increased its total Group revenues by 24.0 percent to EUR 48.4 million. Segment EBIT was the same as the previous year comparative of EUR -3.6 million. The segment has high levels of orders in hand totalling EUR 173.4 million, though that figure is somewhat down against the peaks seen in the past. The segment - operating in the fields of water, energy, mineral resources and environmental technology - is currently undergoing a reorganization.
Chairman of the Management Board Prof. Thomas Bauer comments: "We have made a positive start to the new year, and we expect that healthy trend to continue. A further pleasing factor is that we have placed our financing on a new long-term basis." In mid-April, the Group agreed a three-year syndicated loan with its bankers providing a EUR 450 million credit facility.
BAUER AG reaffirms the full-year forecast it made in April 2014, predicting total Group revenues of around EUR 1.55 billion and profit after tax of around EUR 20 to 25 million, equating to EBIT of around EUR 75 million.
Quelle: BAUER Aktiengesellschaft; Bauer Group