Bilfinger revenue rises

German-based Bilfinger has recorded revenues of €4.7 million for the first nine months of the year – a 5% increase on the same period last year.

Orders received grew by 23% to €4.9 million, which the company said was attributed primarily to the extension of significant service contracts in the first half of 2015. Earnings before interest, taxes and amortization (EBITA) was down 26% to €121 million, which Bilfinger said it expected.

However, the company said its restructure in October would ensure it achieved its annual forecast after the fourth and final quarter of 2015.

Per Utnegaard, chairman of the executive board, said, “Bilfinger is on course to reach the forecast issued for 2015. As a result of the strategic repositioning that has now been initiated, we will lead the company back to a path of profitable growth in the medium term.”

The company announced last month that it would narrow the focus of its business from three segments to two, which it hopes will increase sustainability as a result.