Bilfinger Berger first half sales rise +13%

Germany's Bilfinger Berger reported a +13% increase in first half (1HY08) sales on the same period last year to € 4,9 billion (€ 4,3 billion).

The figures were buoyed by successes in the concessions business segment, where the company reached financial close in July of three major highway projects. In Germany it will undertake expansion works on the A1 Autobahn, in Hungary it will construct a new section for the M6 motorway and in Canada it will construct (and then hold the operating rights for 30 years) a new 21 km highway.

Bilfinger Berger will invest equity capital of € 103 million across the three projects.

The addition of these projects to Bilfinger Berger’s portfolio means the company now has 23 projects with total committed equity of € 284 million under construction at present.

The six month results were greeted positively by the company, where a spokesperson said, “Bilfinger Berger will once again increase earnings in 2008. In full year, the group expects output volume to increase to over € 10 billion and net profit to rise from € 134 million in 2007 to € 140 million in 2008.”