Bilfinger Berger sees revenue rise
By Chris Sleight09 August 2012
Bilfinger Berger saw its revenues for the first six months of the year climb +2% compared to the same period last year to € 4.13 billion (US$ 5.04 billion). The company saw a +77% rise in post-tax profits, thanks to several divestments, while its order backlog fell -8% due to these sales.
The first half of the year has seen the company divest stakes in its Nigerian businesses as well as some concession businesses, and these one-off capital gains saw the company's post-tax profits rise +77% on a like-for-like basis to € 161 million (US$ 203 million) in the first half of the year. However, net profits were down -39% on last year due to the sale in 2011 of Bilfinger Berger's Australian business Valemus.
Bilfinger Berger said the 8% fall in its order book to € 7.55 billion (US$ 9.21 billion) was due to the deconsolidation of its Nigerian and the completion of several major construction projects. However, it said its order intake over the first six months of the year was up +9% compared to last year, with all of its business segments seeing growth.
Although the company was bullish about its prospects, forecasting full-year revenues of € 8.4 billion (US$ 10.2 billion) - about level with 2011, it sounded a note of caution. "We will have to continue to work hard in the second half of the year to achieve our financial goals in an increasingly nervous market environment," said CEO Roland Koch.