Börse Express – ROUNDUP: Bilfinger will be a little more optimistic for 2021

MANNHEIM (dpa-AFX) – recovery of the economy thanks to industrial service provider Bilfinger In the second quarter of 2021. Thanks to the austerity path, the Mannheim Group returned to profitability. The group has become somewhat more confident for the year as a whole. The company is now aiming for an operating result (adjusted Ebita) margin of about three percent and therefore above its pre-crisis level in 2019, as SDax
– The group announced Wednesday evening in Mannheim. In 2019, the margin was 2.4%. For the current year, Bilfinger continues to expect significant sales growth.

In the second quarter, sales increased 23 percent year-on-year to €977 million. All divisions contributed to the growth. After an operating loss of €35 million in the same quarter a year earlier, Bilfinger reported an earnings before interest and goodwill (Ebita) of €26 million, adjusted for special effects. Above all, lower costs contributed to this. Ebita’s adjusted margin was 2.6 percent. The bottom line is that Bilfinger posted a profit of €13 million after a shortfall of €60 million a year ago.

Meanwhile, the industrial service provider wants to use part of the money from the sale of its stake in Apleona to pay off debt early. Recently, Bilfinger received €458 million from the resale of the former subsidiary. Another part is going to shareholders in the form of share buybacks and special dividends and using them in investments. The Executive Board and the Supervisory Board decided, as Bilfinger also announced.

Bilfinger will use €109 million for early redemption of tranches due for the promissory note loan in October 2021 instead of April 2022. This results in an interest provision of €3 million. In addition, the Board of Directors and the Supervisory Board will propose a special dividend of 3.75 euros per share at the 2022 annual general meeting. A total of approximately 150 million euros should flow to shareholders. This is in addition to the regular dividends for the 2021 fiscal year.

In addition, the company plans to buy back shares of up to 100 million euros. The share repurchase program is scheduled to start in the summer of 2022. The annual general meeting next year must also approve this measure. Currently owned treasury shares of about eight percent will be withdrawn at the start of the new program.

 ISIN  DE0005909006

AXC0345 2021-08-11 / 22:29

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