Press Releases 2004

November 18, 2004
Interim Report to September 30, 2004

• Significant increase in output volume
• Order backlog reaches new record level
• Net profit in full-year 2004 at prior-year level despite substantial risk provisions

In the first nine months of 2004, Bilfinger Berger's output volume increased by 11% from the same period a year earlier to €4,516 million, while orders received of €4,613 million exceeded the prior-year level by 5%. The order backlog rose by 16% to €6,409 million - a new record in the company's history.

The Bilfinger Berger Group’s general earnings remained positive. As has been reported, however, on October 23, 2004 another technical defect occurred at the site of the Maumee River Crossing, a new bridge being constructed in the American state of Ohio, as a result of which further delays and additional costs are to be expected. To cover these risks, the company has increased the provisions for this project in the interim financial statements from €20 million to €50 million. Despite this charge, an EBITA (operating profit) of €25 million (Jan.-Sept. 2003: €41 million) was achieved on the reporting date, thanks to good profit contributions from other projects and a significant rise in profit in the services business. Net profit for the first nine months of 2004 amounted to €14 million (Jan.-Sept. 2003: €23 million).

For full-year 2004, a significant increase in output volume to more than €6 billion is anticipated. Despite the provisions formed for the Maumee River Crossing, EBITA will exceed €80 million. Net profit will still be in the range of previous year's results excluding exceptional items, i.e. €50 million.