Group management report

2008 was another successful year for Bilfinger Berger. The Group continued its strong growth; EBIT and net profit increased again significantly.

Growth
Output volume surpassed the €10 billion mark for the first time, representing an increase of €1.5 billion compared with the prior year. The expansion of our Services business segment was particularly strong. Our Industrial Services, Power Services and Facility Services divisions boosted their output volumes as a result of organic growth and acquisitions. Bilfinger Berger Facility Services is now the market leader in Germany. Bilfinger Berger Industrial Services is the market leader in Europe; its output volume has increased by a factor of three in the past three years and its earnings by a factor of five. The Concessions business segment also experienced a record year.

Development of the Group
In order to further expand the services business, the Group acquired companies for a total amount of €500 million in 2008. In Germany,we acquired the facility management business of M+W Zander, which represents a substantial growth boost for our Facility Services division. In the United States, we acquired Tepsco, thus extending our industrial services business in the US to the oil and gas industry. In Scandinavia,we acquired the repair and maintenance activities of the Norsk Hydro Group. In view of the situation of the French market and the resulting limited development opportunities there for Bilfinger Berger, we sold Razel, our French civil-engineering subsidiary.