Bilfinger Berger sees net profit jump15 February 2012
Bilfinger Berger (BB) announced last month it had met all finance-related goals for 2011. Net profit increased from EUR 284M (USD 376M) in 2010 to EUR 394M (USD 521.7M) with a resultant dividend per share increase of EUR 0.9 (USD 1.2). The scale of the increase was largely due to the sale of Valemus Australia to Australian construction group Lend Lease in the first quarter.
A BB spokesman said, “Austerity measures initiated by the public sector will lead to weaker demand for civil engineering. Regardless of this development, output volume in the business segment will decline following the completion of a major project and reach the magnitude that has been planned for some time.
“The improved risk structure and the increasing focus on higher margin activities will allow for a further increase in the EBITA margin [which had a 21 per cent increase from 2010 to 2011 for the construction business segment].”
Total EBIT grew six per cent to EUR 361M (USD 478M). Output volume increased five per cent to EUR 8.5bn (USD 11.2bn).
BB announced future targets: output volume increase of 50 per cent by 2016, net profit doubled and over EUR 1bn (USD 1.32bn) invested in the acquisition of companies.
The full report can be read: www.bilfinger.com/en/Press/Press-Releases/2012/listing/Preliminary-report-on-the-2011-financial-year