Specialist foundations contractor and equipment maker Bauer saw its revenues rise +3.7% last year to € 1.56 billion (US$ 1.65 billion). The company achieved a net profit of € 15.7 million (US$ 16.6 million), compared to a loss of € 19.4 million (US$ 20.5 million) in 2013.
The company’s construction segment saw revenues fall -3.9% from € 742 million (US$ 784 million) in 2013 to € 713 million (US$ 754 million) in 2014. However, Bauer highlighted that it had worked on a number of world-class schemes last year.
“The Construction segment was able to complete some unique reference projects successfully, including the foundation works of what will be in future the tallest buildings in the world, the Kingdom Tower in Saudi Arabia, and in Europe, the Lakhta Tower in St. Petersburg, Russia. In addition, there was a section of what will soon be the longest bridge in the world, between Hong Kong and Macau,” said a company statement.
Meanwhile, the company’s equipment business saw revenues rise +3.7% last year to € 652 million (US$ 689 million), compared to € 629 million (US$ 664 million) in 2013. “The markets of the Middle and Far East enjoyed particularly positive development, as did sales of large machinery and cutters,” said the company.
However, the strongest performance last year was seen at Bauer’s Resources segment, where revenues were up +33.9% to € 253 million (US$ 267 million). The business is active in the materials, exploration & mining services and environmental businesses and said the sharp rise in revenues last year was due to increases environment and water treatment work.
Bauer added that the group had orders in hand of € 763 million (US$ 806 million) at the end of 2014 – about the same level as 12 months previously.
Commenting on the results, Professor Thomas Bauer, chairman of the company’s Management Board, said, “We are confident that we will be able to perform well in our challenging markets during the current financial year, even though we will probably still be confronted with numerous geopolitical and global economic risks. In any event, the Group can look back on a company history spanning 225 years in 2015.”
Bauer expects total revenues of € 1.6 billion (US$ 1.7 billion) in 2015.