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Thu October 01 2020

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Bilfinger Berger earmarks €1bn for expansion

16 Nov 11 Bilfinger Berger intends to increase output volume by up to 50% by 2016 and to double net profit through a combination of organic and acquisitional growth.

Work on the E18 was completed this year.
Work on the E18 was completed this year.

It has more than €1bn (£830m) at its disposal for the acquisition of companies to expand its services business and to complement its specialist areas in construction.

In the first nine months of the year 2011, output volume continued to grow, earnings increased and demand remained stable.

The company said that no significant effects on its business have been discernible from the high levels of public debt in many countries and turbulence on the capital markets, although growth in demand has slightly weakened in some sectors.

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In the first nine months of this year, output volume increased by 5% to €6.251bn and orders received remained stable at €5.587bn. The order backlog of €7.776bn at the end of September was 6% lower than a year earlier, primarily due to the regional focus of the construction business.

Earnings before interest and tax (EBIT) increased to €250m, compared with €229m for the first nine months of 2010. All business segments delivered higher earnings. Earnings after taxes from continuing operations increased to €152 million from €134 million.  

For the full year of 2011, Bilfinger Berger anticipates slight growth in output volume generated by continuing operations to €8.2bn and an increase in EBIT to some €350 million. This represents an increase of 9% compared with the adjusted figure for the previous year, which included a special effect from the €21m sale of shares in concession projects. The sale of Valemus Australia will cause net profit to increase to approximately €380m in the full year, which will be substantially higher than the net profit of €284m reported in 2010.

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