- Total Group revenues rose significantly by 18.9 % to EUR 455.7 million; sales revenues increased by 19.3 % to EUR 379.0 million
- EBIT improved to EUR 8.5 million (previous year: EUR 4.8 million) and earnings after tax to EUR -3.9 million (previous year: EUR -9.6 million)
- Order backlog grew by 4.3 % to EUR 1,044.3 million (previous year: EUR 1,001.0 million)
Business of the Bauer Group started off extraordinarily well in the first quarter of 2017. The key figures of the international construction and machinery manufacturing concern show significant growth and confirm the turnaround in business operations.
The total Group revenues recorded a plus of 18.9 % to EUR 455.7 million (previous year: EUR 382.2 million). EBIT improved from EUR 4.8 million to EUR 8.5 million. The earnings after tax with EUR -3.9 million were significantly higher than the previous year's value (EUR -9.6 million). The order backlog rose by 4.3 % from EUR 1,001.0 million to EUR 1,044.3 million – a considerable growth, considering that 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.
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.
In the Construction segment, almost all projects began without delay. The total Group revenues increased by 33.5 % to EUR 213.4 million. EBIT declined slightly from EUR 1.0 million to EUR -0.2 million, which has little significance in the first quarter due to seasonality. The order backlog in specialist foundation engineering grew markedly. Due to the derecognized order backlogs described above, the key figure showed a slight decline to EUR 578.3 million (previous year: EUR 584.7 million).
In the Equipment segment, total Group revenues rose by 16.2 % from EUR 165.0 million to EUR 191.7 million, the sales revenues rose by 17.5 % to EUR 126.7 million. The growth in sales and the delivery of several large-scale machines led to a significant improvement in EBIT from EUR 5.9 million to EUR 9.3 million. The growth in the world's construction markets, the adjustment of capacities in these markets and equipment innovations ensured an improved order situation at Bauer. The order intake developed positively in the past few months and led to a growth in the order backlog from EUR 129.2 million to EUR 168.8 million.
The Resources segment is still stabilizing after many reorganization measures in recent years. It closed the first quarter with total Group revenues of EUR 63.4 million, 11.4 % lower than the previous year. As in Construction, the beginning of the year has little significance here. EBIT improved from EUR -1.6 million to EUR -0.3 million. The segment's order backlog is up by 3.5 % to EUR 297.2 million.
The company confirms its full-year forecast from April 2017, predicting total Group revenues of around EUR 1.7 billion, earnings after tax of around EUR 23 to 28 million, and EBIT of around EUR 75 million. "Our companies made a clear turnaround in business operations in the previous year and we now plan to strengthen this recovery", said Professor Thomas Bauer, Chairman of the Management Board of Bauer Aktiengesellschaft, "In a generally volatile market, we see a positive trend from which we should be able to profit. This good start to the year has brought us to a solid starting position."
More information: here
Source: Bauer AG