Record orders for Bilfinger Berger
By Chris Sleight07 March 2008
Bilfinger Berger saw its net profit rise +46% in 2007 to € 134 million. Revenues were up +16% to € 9,22 billion – a new record for the company. Bilfinger Berger also says that its order book is the strongest it has ever been. Over the course of last year it received € 11,3 billion of orders - +13% more than 2006, driving its backlog to € 10,8 billion, +23% higher than it was at the end of 2006.
In terms of output last year, Bilfinger Berger saw big rises in activity for its civil engineering (+23%) and services (+25%) divisions – Bilfinger Berger described its civil business segment’s capacity as being “fully utilised in 2007.” However, the growth in orders received rose most sharply for its other main division – building & industrial, where there was a +26% rise in incoming work.
Although the value of incoming orders to its civil engineering business fell a modest –1% in 2007 compared to the previous year, this division represents the majority of Bilfinger Berger’s portfolio of outstanding work. The backlog for this division stood at € 5,51 billion at the end of the year – just over 50% of the group’s total of € 10,8 billion order book.
The services business brought in most profit for the company, with earnings before interest, tax and amortisation (EBITA) of € 180 million, out of a group total of € 242 billion. Profits also grew in the civil and building & industrial divisions, while losses for Bilfinger Berger’s concessions arm fell from -€ 4 million in 2006 to -€ 2 million last year.
Following the strong performance in 2007, Bilfinger Berger’s executive board is proposing to increase its dividend. The proposal, which is subject to ratification by its supervisory board and annual general meeting, is for a +44% increase in the payout to € 1,80 per share. The dividend relating to the 2006 financial year was € 1,25.