BAUER Aktiengesellschaft, DE0005168108

BAUER Aktiengesellschaft, DE0005168108

14.11.2017 - 07:04:12

BAUER Aktiengesellschaft: BAUER AG remains on course after the third quarter

- Total Group revenues rose by 22.0% to EUR 1,398.1 million; sales revenues increased by 27.5% to EUR 1,265.6 million - EBIT improved to EUR 48.9 million (previous year: EUR 38.0 million) and earnings after tax to EUR 6.9 million (previous year: EUR -4.0 million) - Order backlog with EUR 977.3 million at high level (previous year: EUR 1,019.0 million) - Forecast for 2017 confirmed

Schrobenhausen - The BAUER Group remains on course after the third quarter of 2017. The key figures of the international construction and machinery concern are well above the previous year's level after nine months.

The total Group revenues recorded a plus of 22.0% to EUR 1,398.1 million (previous year: EUR 1,146.3 million). Sales revenues grew by 27.5% to EUR 1,265.6 million. EBIT improved from EUR 38.0 million to EUR 48.9 million. Earnings after tax were EUR 6.9 million (previous year EUR -4.0 million). The order backlog with EUR 977.3 million is at a high level (previous year: EUR 1,019.0 million). 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. Without this effect, the orders in hand were higher than the previous year's level.

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.

The three segments have developed differently over the course of the year: while Construction and Resources remained behind expectations with their earnings, the Equipment segment was able to demonstrate a significant increase.

In the Construction segment, extensive projects were processed and the capacity utilization distributed evenly across the globe. This ensured that the total Group revenues rose by 29.1% to EUR 666.5 million. EBIT dropped from EUR 12.6 million to EUR 7.3 million and is consequently below expectations. The reason for this are several unsatisfactory projects in Germany and Australia as well as negative exchange rate effects. The order backlog is still at a high level with EUR 516.5 million, albeit EUR 61.5 million lower than the previous year's figure. If the aforementioned derecognized order backlog is taken into consideration, the figure is above the previous year's level.

The Equipment segment is benefiting from an excellent order intake, meaning that total Group revenues increased by 24.3% from EUR 465.7 million to EUR 579.0 million. Sales revenues rose by 39.0% to EUR 480.8 million. EBIT more than doubled from EUR 22.8 million to EUR 46.7 million and is therefore significantly higher than expectations. This was ensured by the fact that significantly more equipment was sold this year than in the previous year and also by the fact that sales of large machinery and specialist equipment increased. Consequently, the ratio between the fixed costs and sales improved. Orders in hand grew slightly from EUR 150.6 million to EUR 153.1 million, the order intake grew by 20.5% from EUR 488.2 to EUR 588.1 million.

The Resources segment with its forward-looking environment, water and natural resources business has good prospects in the medium term. It is currently being hindered by the slow recovery of the raw material markets and by other required reorganization measures. Total Group revenues with EUR 193.5 million are 5.8% down year-on-year (EUR 205.4 million). EBIT amounted to EUR -5.3 million (previous year: EUR 3.4 million). The segment's order backlog is up by 6.0% to EUR 307.7 million. In the environment business, the company is expecting the contract for a large project in the Middle East in the fourth quarter.

Outlook

All in all, the company confirms its forecast for the year as a whole, which it had slightly raised in August with respect to total Group revenues. Accordingly, the company is predicting total Group revenues of around EUR 1.8 billion, earnings after tax of around EUR 23 to 28 million, and EBIT of around EUR 75 million.

"We are seeing an overall positive trend in our business operations," states Prof. Thomas Bauer, Chairman of the Management Board of BAUER Aktiengesellschaft. "The Construction segment is showing continued stable growth worldwide and the demand for complex specialist foundation engineering projects will continue to grow due to the continuing urbanization and the rising complexity of infrastructures." Due to the sharp increase in business in the current fiscal year, he is anticipating a slight decline in revenues from today's perspective for the Construction segment in 2018. "The construction machinery market is currently recording significant growth and offers short and medium-term opportunities", Bauer continues. He attributes this to the fact that the excess capacities in the machinery market were reduced and the investment backlog is being alleviated. For the Resources segment, he sees a positive development, if the raw material prices continue to stabilize and the reorganization measures take full effect.

The full quarterly statement is available online at http://www.bauer.de.About Bauer

The BAUER Group is a leading provider of services, equipment and products related to ground and groundwater. With over 110 subsidiaries, Bauer operates a worldwide network on all continents.

The operations of the Group are divided into three future-oriented segments with high synergy potential: Construction, Equipment and Resources. The Construction segment offers new and innovative specialist foundation engineering services alongside the established ones, and it carries out foundation and excavation work including cut-off walls and ground improvements on a worldwide basis. Bauer is a global market leader in the Equipment segment and provides a full range of equipment for specialist foundation engineering as well as for the exploration, mining and extraction of natural resources. In the Resources segment, Bauer focuses on highly innovative products and services in the areas of water, environment and mineral reserves.

Bauer benefits greatly from the collaboration between its three separate segments, enabling the Group to position itself as an innovative, highly specialized provider of products and services for demanding projects in specialist foundation engineering and related markets. Bauer therefore offers appropriate solutions for the world's major challenges, such as urbanization, growing infrastructure needs, the environment, and water, oil and gas.

The BAUER Group was founded in 1790 and is based in Schrobenhausen, Bavaria. In 2016 it employed some 10,800 people in around 70 countries and achieved total Group revenues of EUR 1.6 billion. BAUER Aktiengesellschaft is listed in the Prime Standard of the German stock market.

More information can be found at http://www.bauer.de.

GROUP KEY FIGURES January - September 2017 (IFRS)

  2016 2017 Change   in EUR million in EUR million   Total Group revenues 1,146.3 1,398.1 +22.0% of which       - Construction 516.4 666.5 +29.1% - Equipment 465.7 579.0 +24.3% - Resources 205.4 193.5 -5.8% - Other/Consolidation -41.2 -40.9 n/a Sales revenues 992.6 1,265.6 +27.5% Order intake 1,169.6 1,367.3 +16.9% Order backlog 1,019.0 977.3 -4.1% EBITDA 104.6 118.8 +13.5% EBIT 38.0 48.9 +28.7% Earnings after tax -4.0 6.9 n/a Total assets 1,706.7 1,783.5 +4.5% Equity 412.6 423.7 +2.7% Number of employees (average number during the year) 10,662 10,819 +1.5% Contact: Christopher Wolf Investor Relations BAUER Aktiengesellschaft BAUER-Strasse 1 86529 Schrobenhausen, Germany Phone: +49 8252 97-1797 Fax: +49 8252 97-2900 investor.relations@bauer.de www.bauer.de

14.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: BAUER Aktiengesellschaft BAUER-Straße 1 86529 Schrobenhausen

Germany Phone: +49 (0)8252 97 1218 Fax: +49 (0)8252 97 2900 E-mail: investor.relations@bauer.de Internet: www.bauer.de ISIN: DE0005168108 WKN: 516810 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange   End of News DGAP News Service

628655  14.11.2017 

@ dgap.de

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