Bilfinger SE

Legal Proceedings Report • Oct 25, 2004

News Details

Ad-hoc | 25 October 2004 15:48

Bilfinger Berger AG:Negative impact on earnings from Maumee River Bridge project

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Bilfinger Berger AG, Mannheim Ad-hoc-announcement pursuant to section 15 WpHG 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 Euro 20 million to Euro 50 million. As a result, the Group’s planned growth of operating profit to approximately Euro 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. Euro 50 million. Mannheim, October 25, 2004 Bilfinger Berger AG end of ad-hoc-announcement (c)DGAP 25.10.2004 ——————————————————————————– WKN: 590 900; ISIN: DE0005909006; Index: MDAX Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard), Hamburg, Hannover, München, Stuttgart 251548 Okt 04