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DGAP-News: BAUER Aktiengesellschaft / Key word(s): Quarterly / Interim Statement/Quarter Results
- Total Group revenues increased by 17.2% compared to the previous year, from EUR 356.6 million to EUR 417.9 million
Schrobenhausen, Germany – The BAUER Group had a positive start to 2022. At the end of the first quarter of 2022, total Group revenues increased significantly by 17.2%, from EUR 356.6 million to EUR 417.9 million. At EUR 4.1 million, EBIT was significantly above the previous year’s value of EUR 1.8 million. At EUR 1.6 million, the Group’s earnings after taxes were significantly above the previous year’s value of EUR -5.1 million, and already positive in the first quarter for the first time in many years. This is the result of an improved operating result and market interest rate development that was more favorable for the company’s interest rate hedging.
The company set a new record for order backlog, which rose by 11.8% compared to the previous year, from EUR 1,322.1 million to EUR 1,478.5 million. The order intake increased slightly by 3.1%, from EUR 516.1 million to EUR 532.0 million.
“This positive business development was primarily attributable to the Equipment segment. A positive trend was already emerging there in the fourth quarter of last year, which continued at the beginning of 2022,” said Michael Stomberg, CEO of BAUER AG.
In the Construction segment, the first few weeks of the year were a little more subdued, in particular with regard to international business, but remained in line with expectations. The Resources segment started the current year in line with plans.
At EUR 183.8 million, total Group revenues in the Construction segment were up by 8.3% compared to the previous year at EUR 169.7 million. The increase is based on considerably higher order backlog compared to the previous year. EBIT decreased compared to the same period in the previous year, from EUR -0.2 million to EUR -2.6 million, which was mainly attributable to higher depreciation and expenses associated with a project for the foundation of an offshore wind farm.
Order backlog in the Construction segment grew by 4.9% from EUR 825.1 million in the previous year to EUR 865.7 million. The increase in the first quarter is mainly attributable to new projects in the USA. Order intake decreased by 25.4% to EUR 204.1 million, compared to EUR 273.4 million in the previous year.
At the end of the first quarter, total Group revenues in the Equipment segment increased very significantly by 26.0%, from EUR 152.0 million to EUR 191.5 million, when compared to the same period of the previous year. EBIT increased considerably compared to the previous year, from EUR 0.5 million to EUR 9.0 million.
The Equipment segment recorded a very good start to the year and was able to continue the positive trend regarding revenue and order intake that began in the fourth quarter of 2021. Price increases for raw materials and primary products were counteracted by the company with significant price increases for end products. Moreover, there were no major effects of material bottlenecks on production in the first quarter.
Order backlog increased very significantly by 47.7%, from EUR 152.7 million in the previous year to EUR 225.6 million, a level that was last achieved in 2008. At EUR 239.3 million, the order intake rose significantly by 28.8% compared to the previous year’s EUR 185.8 million.
At EUR 58.7 million, total Group revenues in the Resources segment were down by 7.1% after the first quarter, compared to the previous year’s EUR 63.2 million. EBIT decreased from EUR 2.1 million to EUR -1.3 million due to the decrease in revenues.
The Resources segment started the current year in line with plans. All business areas recorded positive development that was within expectations. Material bottlenecks and price increases didn’t yet have an effect on business in the first quarter.
At the end of the first quarter, the order backlog increased significantly by 12.4%, from EUR 344.3 million to EUR 387.2 million, which is primarily attributable to new orders in the mining division. The order intake grew accordingly by 22.9% from EUR 85.2 million to EUR 104.7 million.
The company continues to expect a significant increase in total Group revenues and EBIT for financial year 2022.
You can read the full quarterly statement online at http://www.bauer.de.
The BAUER Group is a leading provider of services, equipment and products related to ground and groundwater. With over 110 subsidiaries, Bauer operates a worldwide network on all continents.
The operations of the Group are divided into three future-oriented segments with a high potential for synergy: Construction, Equipment and Resources. The Construction segment offers new and innovative specialist foundation engineering services alongside the established ones, and carries out foundation and excavation work, cut-off walls and ground improvements worldwide. Bauer is a world market leader in the Equipment segment and provides a full range of equipment for specialist foundation engineering as well as for the exploration, mining and exploitation of natural resources. The Resources segment delivers innovative products and services and acts as a service provider with several business divisions and subsidiaries in the areas of drilling services and water wells, environmental services, constructed wetlands, mining and rehabilitation.
Bauer profits greatly from the collaboration between its three separate business divisions, enabling the Group to position itself as an innovative and highly specialized provider of products and services for demanding projects in specialist foundation engineering works and related markets. Bauer therefore offers appropriate solutions for the world’s major challenges, such as urbanization, growing infrastructure needs, the environment, and water, oil and gas.
The BAUER Group was founded in 1790 and is based in Schrobenhausen, Bavaria. In 2021, it employed some 12,000 people in around 70 countries and achieved total Group revenues of EUR 1.5 billion. BAUER Aktiengesellschaft is listed in the Prime Standard segment of the German stock market.
More information can be found at http://www.bauer.de.
12.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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