Bilfinger : Quarterly Statement Q1 2024 Reporting Factsheet

Reporting Factsheet Q1 2024

Published on May 15, 2024

Bilfinger Group			Q1					FY
in € million	2024	2023	Δ in %	2023
Orders received		1,144	1,385	-17%				4,735
Order backlog		3,448	3,491	-1%				3,385
Revenue		1,088	1,053	3%				4,486
EBITDA		68	46	50%				289
EBITA		43	22	100%				191
EBITA margin		4.0%	2.1%					4.3%
thereof special items		-1	0	-				-1
Amortization		0	0	-				-1
EBIT		43	22	99%				190
Financial result		-6	-6	-				-26
EBT		37	15	137%				163
Income taxes		-11	-8	-				18
Earnings after taxes from continuing operations		26	7	243%				182
Earnings after taxes from discontinued operations		0	0	-				3
Minority interest		-1	-1	-				-4
Net profit		25	7	273%				181
Net profit adjusted		27	11	149%				117
Number of outstanding shares (average, in thousands)		37,484	37,406					37,462
EPS (in €)		0.66	0.18	272%				4.84
EPS adjusted (in €)		0.71	0.29	148%				3.12
Equity ratio		38.7%	35.0%					35.2%
Working capital 1		108	-1	-				51
Net cash (+) / net debt (-)2		261	266	-2%				290
Cash flow from operating activities		38	-15	-				151
Gross Capex in PPE		-15	-12	-				-59
Increase in right-of-use assets		9	15	-41%				33
Free cash flow		24	-26	-				122
Employees		28,612	29,514	-3%				28,650

1) Delta between current assets, excluding cash and cash equivalents and securities and current liabilities, excluding liabilities to banks.

2) Excluding leasing liabilities (Q1 2024: 168€ million; FY 2023: €170 million; Q1 2023: €187 million) and including marketable securities

Outlook 2024 3		FY 2023		FY 2024e		YTD
in € million / %
Group
Revenue		4,486		4,500	to	4,800			1,088
EBITA Margin		4.3%		4.9%	to	5.2%			4.0%
Free cash flow	122	100	to	140 4		24
Segment Engineering & Maintenance Europe 5
Revenue		3,033		2,900	to	3,200			729
EBITA Margin	5.1%	5.9%	to	6.2%		4.5%
Segment Engineering & Maintenance International
Revenue		682		650	to	750			162
EBITA Margin	0.4%	2.5%	to	4.0%		2.1%
Segment Technologies 6
Revenue	684	750	to	850		170
EBITA Margin	5.9%	5.0%	to	5.5%		4.2%
Reconciliation Group 7
Revenue		87		50	to	75			27
EBITA		-9	-15	to	-25		0

1. Without Stork
2. Including ~ € 40 million special items cash-out efficiency program, corresponds to Cash Conversion adjusted of ~70%
3. Restatement of 2023 figures due to new allocation of entities: revenue +54; EBITA margin -0.3 percentage points
4. Restatement of 2023 figures due to new allocation of entities: revenue -53; EBITA margin +1.4 percentage points
5. Restatement of 2023 figures due to new allocation of entities: revenue -1; EBITA -2

Bilfinger SE - Investor Relations

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Bilfinger Segments			Q1			FY
in € million	2024	2023	Δ in %		2023
Orders received
Segment Engineering & Maintenance Europe 8		801	933	-14%		3,125
Segment Engineering & Maintenance International		156	241	-35%		733
Segment Technologies 9		160	182	-12%		743
Reconciliation Group 10		28	30	-8%		134
thereof OOP		53	34	54%		166
thereof HQ/ consolidation/ others 10		-25	-4	-		-32
Group		1,144	1,385	-17%		4,735
Order backlog
Segment Engineering & Maintenance Europe 8		2,097	2,145	-2%		2,032
Segment Engineering & Maintenance International		556	607	-9%		551
Segment Technologies 9		703	663	6%		709
Reconciliation Group 10		93	76	22%		93
thereof OOP		111	113	-2%		106
thereof HQ/ consolidation/ others 10		-18	-37	-		-13
Group		3,448	3,491	-1%		3,385
Revenue
Segment Engineering & Maintenance Europe 8		729	695	5%		3,033
Segment Engineering & Maintenance International		162	171	-5%		682
Segment Technologies 9		170	167	2%		684
Reconciliation Group 10		27	21	28%		87
thereof OOP		47	35	37%		167
thereof HQ/ consolidation/ others 10		-21	-14	-		-80
Group		1,088	1,053	3%		4,486
EBITA
Segment Engineering & Maintenance Europe 8		33	23	40%		156
EBITA margin		4.5%	3.3%			5.1%
Segment Engineering & Maintenance International		3	-6	-		3
EBITA margin		2.1%	-3.3%			0.4%
Segment Technologies 9		7	7	0%		40
EBITA margin		4.2%	4.3%			5.9%
Reconciliation Group 10		0	-3	-		-9
thereof OOP		5	3	49%		14
thereof HQ/ consolidation/ others 10		-4	-6	-		-23
Group		43	22	100%		191
EBITA margin		4.0%	2.1%			4.3%

1. Restatement of 2023 figures due to new allocation of entities: Q1 2023: Order received +11; order backlog +47; revenue +12; EBITA -2 | FY 2023: Order received +31; order backlog +24; revenue +54; EBITA -5
2. Restatement of 2023 figures due to new allocation of entities: Q1 2023: Order received -11; order backlog -42; revenue -11; EBITA +2 | FY 2023: Order received -34; order backlog -23; revenue -53; EBITA +7
3. Restatement of 2023 figures due to new allocation of entities: Q1 2023: Order received 0; order backlog -5; revenue 0; EBITA 0| FY 2023: Order received +3; order backlog -1; revenue -1; EBITA -2

Organic development

in € million		Q1 2023	Δ Net acquisitions		Δ F/X	Δ Organic	Q1 2024
Orders received
Segment Engineering & Maintenance Europe	933	2	0%	4	0%	-138	-15%	801	-14%
Segment Engineering & Maintenance International	241	0	0%	-2	-1%	-83	-34%	156	-35%
Segment Technologies	182	0	0%	0	0%	-22	-12%	160	-12%
Group	1,385	2	0%	-1	0%	-242	-17%	1,144	-17%
Revenue
Segment Engineering & Maintenance Europe	695	4	1%	3	0%	27	4%	729	5%
Segment Engineering & Maintenance International	171	0	0%	-2	-1%	-7	-4%	162	-5%
Segment Technologies	167	0	0%	1	1%	2	1%	170	2%
Group	1,053	4	0%	-1	0%	32	3%	1,088	3%
EBITA
Segment Engineering & Maintenance Europe	23	0	0%	0	1%	9	39%	33	40%
Segment Engineering & Maintenance International	-6	0	-	0	-	9	-	3	-
Segment Technologies	7	0	-2%	0	0%	0	2%	7	0%
Group	22	0	-1%	0	-1%	22	102%	43	100%

Bilfinger SE - Investor Relations

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