The Bauer Group has seen a large rise in earnings before tax in the first quarter of 2018 but saw total group revenues decline 17%, according to the group’s first quarter financial results.
Earning before tax improved by 30% to €11.1 million (US$13.2 million) which was mainly the result of the group’s equipment sector. The order backlog for the period decreased by 0.8% year over year, and increased by 6.0% compared to 2017.
The group has three segments – construction, equipment and resources – and operates in more than 110 subsidiaries in approximately 70 countries around the world.
In the construction segment, the group said that it worked on slightly fewer large scale projects than in previous years. Therefore, total group revenues of €150.9 million (US$180.7 million) were 28.5% below the unusually high figure for the previous year of €211.1 million (US$252.7 million).
The group’s equipment segment benefited from continued growth in global construction markets. After the first three months, the total revenues were at a high level of €180.9 million (US$216.8) and sales revenues increased slightly by 1.5% to €128.6 million (US$151.8 million).
The company will confirm its yearly forecast at its annual press conference in April, which is expected to reveal total group revenues of about €1.8 billion (US$2.1 billion).