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Bauer AG Earnings Release 2019
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Earnings Release
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News Details
Ad-hoc | 18 September 2019 18:22
BAUER Aktiengesellschaft: BAUER AG adjusts its forecast for the end of the year
BAUER Aktiengesellschaft / Key word(s): Change in Forecast
BAUER Aktiengesellschaft: BAUER AG adjusts its forecast for the end of the year
18-Sep-2019 / 18:22 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Schrobenhausen – BAUER Aktiengesellschaft (ISIN DE0005168108) has to adjust its forecast for the financial year 2019 due to lowered expectations compared with the corporate planning.
Poor capacity utilization, mainly due to project postponements, will lead to significantly worse earnings in some countries of our international construction business in the second half of the year compared to the previous planning. In addition, the development of interest rates for pension provisions and interest rate hedges has led to considerable balance sheet burdens.
Up to now, total Group revenues of about EUR 1.7 billion, EBIT of about EUR 95 million and earnings after tax significantly higher than in the previous year had been anticipated for the financial year 2019. From today’s perspective, the company expects to achieve EBIT of about EUR 70 million. The earnings after tax will only be slightly positive. The forecast for total Group revenues of about EUR 1.7 billion remains unchanged.
From today’s perspective, the reasons for the deterioration in earnings have no significant impact on future development.
The method of calculating the total Group revenues can be found in the appendix of the 2018 Annual Report on page 115: https://www.bauer.de/export/shared/documents/pdf/investor_relations/annual_report/annual_report_2018_en_i.pdf
Contact:
Contact
Christopher Wolf
Investor Relations
BAUER Aktiengesellschaft
BAUER-Strasse 1
86529 Schrobenhausen, Germany
Phone: +49 8252 97-1797
Fax: +49 8252 97-2900
www.bauer.de
18-Sep-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | BAUER Aktiengesellschaft |
| BAUER-Straße 1 | |
| 86529 Schrobenhausen | |
| Germany | |
| Phone: | +49 (0)8252 97 1218 |
| Fax: | +49 (0)8252 97 2900 |
| E-mail: | [email protected] |
| Internet: | www.bauer.de |
| ISIN: | DE0005168108 |
| WKN: | 516810 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 876091 |
| End of Announcement | DGAP News Service |