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Bilfinger SE: Efficiency program resolved. Savings of around €55 million p.a. by end of 2023 with one-off costs of around €60 million with corresponding negative impact on earnings for 2022

Bilfinger SE / Key word(s): Change in Forecast
Bilfinger SE: Efficiency program resolved. Savings of around €55 million p.a. by end of 2023 with one-off costs of around €60 million with corresponding negative impact on earnings for 2022

08-Nov-2022 / 17:53 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The Executive Board resolved today a program to increase efficiency in order to standardize workflows in administration, simplify structures, reduce costs and at the same time to invest in education and training of the workforce. Savings of around €55 million p.a. will be realized by the end of 2023, of which around a quarter will be reinvested annually in education and training. The exact structure and the measures required for implementation will be closely coordinated with the social partners. The efficiency program is accompanied by one-off costs of around €60 million, for which a provision is created in the fourth quarter 2022.

EBITA for the full year 2022 will therefore be negatively impacted by around €60 million, which is why EBITA is expected to be significantly lower than in the prior year. Operationally, the outlook for the full year is confirmed, also on the basis that Bilfinger's development in the third quarter of 2022 was stable as expected. Bilfinger expects unchanged for the full year 2022 a significant increase in revenue (2021: €3,737 million) and in the operational contribution to EBITA (2021: €121 million) as well as a Free Cash Flow on prior year level (2021: €115 million).



08-Nov-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language:

English

Company:

Bilfinger SE

Oskar-Meixner-Straße 1

68163 Mannheim

Germany

Phone:

+49 (0621) 459-0

Fax:

+49 (0621) 459-23 66

E-mail:

ir@bilfinger.com

Internet:

http://www.bilfinger.com

ISIN:

DE0005909006

WKN:

590900

Indices:

SDAX

Listed:

Regulated Market in Frankfurt (Prime Standard), Hamburg, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Tradegate Exchange; Luxembourg Stock Exchange

EQS News ID:

1482311


 

End of Announcement

EQS News Service

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