Bilfinger Slides to Net Loss in Q1, Orders Rise; Confirms FY22 outlook

(RTTNews) – German industrial services provider Bilfinger (BFLBY.PK) reported on Wednesday that its first-quarter net loss was 6 million euros, compared with a profit of 10 million euros a year earlier. The loss per share amounted to 0.16 euros, against a profit of 0.26 euros a year ago.

EBITA remained stable at €9 million, while EBITA margin fell to 0.9% from 1.1% the previous year.

Turnover increased by 15% to 961 million euros against 833 million euros last year. Revenue grew 14% organically as customer demand was driven by higher energy prices and changing energy mix.

Orders received increased by 12% to €1.12 billion, the highest quarter since the second quarter of 2019. Orders received increased by 10% organically.

Furthermore, as previously announced, the Management Board and the Supervisory Board have proposed to the Ordinary General Meeting an ordinary dividend of 1.00 euros per share in addition to an exceptional dividend of 3.75 euros per share.

Looking ahead, the company confirmed its outlook for fiscal 2022. Bilfinger expects significant revenue growth from 3.74 billion euros last year. and a significant increase in EBITA compared to 121 million euros last year.

Lower special item charges will also contribute to a higher EBITA margin in 2022, compared to 3.2% a year ago.

Meanwhile, despite improved EBITA, net profit is expected to be significantly lower than the previous year’s EUR 130 million due to a financial result without positive special items and a standard taxation.

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