Press Releases 2004

August 18, 2004
Interim Report to June 30, 2004: Bilfinger Berger maintains its successful course

• Significant growth rates for output volume and order backlog
• Substantial increase in operating profit
• Positive contribution to earnings from all new acquisitions
• Further increases in output volume and earnings for the full year

Bilfinger Berger maintained its successful course in the first half of 2004. The Group's output volume increased by 11% to €2,830 million. The order backlog of €6,247 million exceeded the comparable prior-year figure by 13%.

The positive earnings trend continued through the first six months of 2004. Operating profit (EBITA) increased to €17 million (first half of 2003: €10 million) thanks to above-average growth in the Services business segment. Earnings in the construction business also improved once again compared with the year-earlier period. Bilfinger Bergers acquisitions strategy is a success, with all newly acquired companies making a positive contribution, as expected, to Group earnings. Operating profits more than compensated for contributions to earnings from former financial shareholdings, a development that will continue in the future.

The development of the Bilfinger Berger Group in the first half of 2004 confirms our expectations for the rest of the year. Significant growth in output volume to €6 billion for full-year 2004 is anticipated. Operating profit and earnings before taxes are forecast to increase at a higher rate than output volume, while net profit will surpass the prior-year level, adjusted for exceptional items and goodwill amortization.