Annual Press Conference 2009
March 17, 2009
March 17, 2009
Annual Press Conference 2009:
- Output volume and earnings increased
- Higher dividend proposed
- Optimism for 2009
Bilfinger Berger concluded the 2008 financial year with clear increases in both output volume and earnings.
The output volume of the Group grew by 16 percent to €10,742 million. Orders received at €10,314 were 9 percent lower than the prior year level, due to strict order selection in the construction business. Order backlog reached the prior year level at €10,649 million.
EBIT rose by 30 percent to €298 million (2007: €229 million). This figure includes a positive exceptional item in the amount of €45 million resulting from a €90 million book gain arising from the sale of the French subsidiary Razel, minus a one-time charge of €45 million from a more careful evaluation of projects, particularly those in early stages of completion. Adjusted for the exceptional item, EBIT amounts to €253 million. Net profit grew by 49 percent to €200 million (2007: €134 million). On an after-tax basis, the exceptional item amounts to €60 million.
Executive Board and Supervisory Board will propose that the Annual General Meeting in Mannheim on May 7, 2009 resolve to increase the dividend for financial year 2008 to €2.00 (2007: €1.80).
Return on capital employed grew from 18.7 percent to 23.2 percent. This led to a significant increase in value added of €202 million (2007: €126 million). At €357 million (2007: €325 million), cash flow from operating activities exceeded the very good figure from the previous year. This increase was primarily the result of lower working capital needs.
Based on current assessments of future economic development, Bilfinger Berger expects output volume in the range of €10 billion in the financial year 2009. The Company believes that EBIT and net profit will at least maintain the level of 2008, after adjustment for the exceptional items, of €250 million and €140 million respectively.
| Key figures for the Group | | | |
| xxx | 2008
in € million | 2007
in € million | in % |
| Output volume | 10,742 | 9,222 | + 16 |
| Orders received | 10,314 | 11,275 | - 9 |
| Order backlog | 10,649 | 10,759 | - 1 |
| | | |
| xxx | | | |
| EBIT | 298 | 229 | + 30 |
| Net profit | 200 | 134 | + 49 |
| Earnings per share (in €) | 5.61 | 3.60 | + 56 |
| Dividend (in €) | 2.00 | 1.80 | + 11 |
| | | |
| xxx | | | |
| Cash flow from operating activities | 357 | 325 | + 10 |
| Return on capital employed (ROCE) (in %) | 23.2 | 18.7 | - |
| Value added | 202 | 126 | + 60 |
| | | |
| xxx | | | |
| Cash and cash equivalents | 720 | 796 | - 10 |
| Financial debt* | 328 | 111 | - |
| Equity ratio (in %) | 22 | 28 | - |
| | | |
| xxx | | | |
| Employees (number) | 60,923 | 52,723 | + 16 |
* adjusted for project-related non-recourse debt
Annual Report 2008 online
Speech by Herbert Bodner, Chairman of the Executive Board
Presentation press conference on financial statements (German)
