Press Releases 2004

October 25, 2004
Negative impact on earnings as a result of component failure at Maumee River Crossing project

During the resumption of work on the approach spans of the Maumee River Crossing project in Toledo, Ohio, on Oct. 23, 2004, a component of the erection truss failed, so that installation work had to stop. There were no injuries and only minimal property damage, but in view of the serious accident at the construction site in February 2004 that had led to a suspension of installation work, it must now be assumed that this truss will not be used to complete construction. The client has requested that a different erection method will be applied to carry out the work.

The length of the expected delay and the additional costs cannot yet be determined with certainty. To cover the financial risk, the provision for the project will be increased from €20 million to €50 million.

As a result, the Group's planned growth of operating profit to approximately €115 million can no longer be achieved. Bilfinger Berger expects, however, that its net profit for 2004 will still be in the range of previous year's result excluding exceptional items, i.e. € 50 million.

in conformity with ad-hoc-announcement