German-based Bilfinger has recorded a 4% increase in its revenues for 2015, at a total of €6,482 million.

The company also recorded orders of €6.83 billion, which represents an increase of 24%, although its earnings before interest, taxes and amortization (EBITA) was down 29% on 2014. The company said that although its EBITA of €186 million was “significantly below” the previous-year’s figure, it nonetheless exceeded the level of €150 to €170 million that was forecast in August 2015.

Bilfinger also said its industrial business segment suffered under the continuing restraint of customers in the oil and gas sector, but the building and facility business segment was able to “extend important service agreements” and gain new customers.

Per Utnegaard, CEO, said, “Although we were able to make good progress on a number of key fronts in the past year, we still have a demanding 2016 ahead of us.

“In addition to the necessary restructuring of the group, we will make targeted investments in growth initiatives in order to make Bilfinger fit for the future.”

The company has recently announced it is selling its water technologies division to Chinese company Chengdu Techcent Environment Group, in a deal said to be worth over €200 million.

Newsletter

Delivered directly to your inbox World Construction Week features the pick of the breaking news stories, product launches, show reports and more!

Sign up for free

Newsletter

Delivered directly to your inbox World Construction Week features the pick of the breaking news stories, product launches, show reports and more!

Go to newsletters