DGAP-Adhoc: Provisions for legacy projects in the USA burden adjusted EBITA in the amount of approximately EUR -55 million; no negative impact on net profit and liquidity due to positive effect from legal case in Qatar; Outlook 2017 for orders received and output volume confirmed.
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DGAP-Ad-hoc: Bilfinger SE / Key word(s): Forecast/Half Year Results Provisions for legacy projects in the USA burden adjusted EBITA in the amount of approximately EUR -55 million; no negative impact on net profit and liquidity due to positive effect from legal case in Qatar; Outlook 2017 for orders received and output volume confirmed. These burdens on earnings impact adjusted EBITA and lead to a significantly negative figure in the first half-year 2017. For full-year 2017, instead of the forecast margin increase of about 100 basis points, Bilfinger now expects adjusted EBITA to break even. In the Engineering & Technologies segment, as a result of the above-mentioned project provisions, adjusted EBITA will be at the level of the prior year. There is, overall, no negative impact on net profit and liquidity because an amount due to Bilfinger of approximately EUR 60 million from the legacy project Doha Expressway in Qatar was paid into a joint venture account. This will have a positive effect on earnings from discontinued operations in the entire amount. The outlook 2017 for Group output volume and orders received has been confirmed. Mid-term targets remain unchanged. The announced share buyback program will begin as planned in the fall of this year.
11-Jul-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Bilfinger SE |
| Carl-Reiß-Platz 1-5 | |
| 68165 Mannheim | |
| Germany | |
| Phone: | +49 (0621) 459-0 |
| Fax: | +49 (0621) 459-23 66 |
| E-mail: | [email protected] |
| Internet: | http://www.bilfinger.com |
| ISIN: | DE0005909006 |
| WKN: | 590900 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange; Luxemburg |
| End of Announcement | DGAP News Service |
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591811 11-Jul-2017 CET/CEST
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