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Bauer AG withdraws its Forecast for the Year 2020 due to the Effects of the Corona Pandemic

The Management Board of Bauer Aktiengesellschaft decided to withdraw the forecast for the 2020 financial year made on April 9, 2020 when the annual report was published.

Current reviews of projections for the end of 2020 suggest that the corona pandemic will have a greater impact on the Construction and Equipment segments.

In the Construction segment, the Bauer Group has experienced obstructions or even complete standstills of construction activities in countries with exit restrictions or curfews. However, there are still markets and projects that are proceeding according to plan.

In the Equipment segment, both order intake and sales revenues fell significantly. Customers worldwide are reluctant to invest due to the continuing uncertainties caused by the corona pandemic.
At present, it is not possible to predict reliably how the pandemic will affect further construction activity in the world and customer demand for equipment, and thus ultimately the development of revenues and earnings. However, it is foreseeable that the forecast made so far for the 2020 financial year cannot be maintained.

Until now, a slight increase in the total Group revenues, a significant increase in EBIT and a significant increase in earnings after taxes to the positive area compared to year-end 2019 had been expected. It is therefore not possible for the Management Board to make a reliable planning and consequently to give a new concrete forecast for the 2020 financial year. The Management Board is therefore currently refraining from publishing a new forecast for the 2020 financial year.

Source: Bauer AG

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