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EANS-News: BAUER Aktiengesellschaft / Bauer AG presents nine-months report

Geschrieben am 13-11-2009

• Total Group revenues down 15.0 percent to EUR 944.5 million.

After-tax profit of EUR 30.0 million, 55.8 percent down on
year-on-year.
• Professor Bauer considers economic crisis to have
bottomed out and expects stabilization at low levels.
• Forecast for
2009 reaffirmed: total Group revenues of just under EUR 1.3 billion
and after-tax profit around a third of the previous year's level
expected.


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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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quarterly report

Subtitle: • Total Group revenues down 15.0 percent to EUR 944.5
million. • After-tax profit of EUR 30.0 million, 55.8 percent down on
year-on-year. • Professor Bauer considers economic crisis to have
bottomed out and expects stabilization at low levels. • Forecast for
2009 reaffirmed: total Group revenues of just under EUR 1.3 billion
and after-tax profit around a third of the previous year's level
expected.

Schrobenhausen (euro adhoc) - November 13, 2009 - The economic crisis
has had a substantial impact on the company's revenues and earnings
in the first nine months of the year.

Total Group revenues at the end of the first three quarters were EUR
944.5 million, 15.0 percent down against the previous year
comparative figure. EBIT (earnings before interest and taxes) was EUR
60.0 million (previous year: EUR 108.4 million). After-tax profit for
the first three quarters fell correspondingly by EUR 37.8 million, or
55.8 percent, to EUR 30.0 million. The Group's orders in hand as per
September 30 totalled EUR 543.0 million, 28.3 percent less than at
the same date last year. The BAUER Group worldwide employed 8,685
people on average between January and September (previous
year: 8,103).

Business segments

The Group's strategic focus on its three business segments -
Construction, Equipment and Resources - combined with its global
presence is proving advantageous in the current market situation.

The Construction segment is having a stabilizing effect on the Group
as a whole, and is withstanding the economic crisis quite
successfully. Tough market conditions in Eastern Europe and the
Middle East are being well balanced out by construction projects in
the USA, Canada, Hong Kong and Western Europe, which are also being
driven by economic stimulus packages. Following on from a boom year
with an extraordinarily high number of large-scale projects, the 19.6
percent fall in revenues to EUR 418.2 million is a result primarily
of normal fluctuations in the construction business. EBIT of EUR 20.5
million was 30.1 percent down (previous year: EUR 29.3 million).
Orders in hand were 21.5 percent down against the previous year at
EUR 349.5 million (previous year: EUR 445.4 million), but have so far
remained virtually constant over the year.

In the Equipment segment, the selling problems brought about by the
economic crisis hit home in the third quarter. Total Group revenues
in the segment for the first nine months were EUR 472.2 million, down
17.1 percent. The segment's orders in hand fell by 58.6 percent to
EUR 114.3 million (previous year: EUR 276.3 million), and covered an
advance period of approximately two months. There is very little
demand for smaller standard equipment at present. Orders over recent
months have been mostly for larger specialist machinery, where Bauer
is able to profit from its competitive edge. EBIT totalled EUR 38.7
million (previous year: EUR 79.6 million), down 51.4 percent against
the previous year's comparative period ? and this trend will continue
through the fourth quarter.

The strategy of the BAUER Group in establishing the Resources segment
as a key new pillar of the business for the future is proving to be
the right one. In the first nine months the total Group revenues of
the recently created segment performed strongly, increasing by more
than a third to EUR 117.3 million (previous year: EUR 87.2 million).
Alongside a major project in Oman, key drivers of this performance
were the mining sector as well as new orders for well engineering
materials. The integration of the newly acquired SITE Group in Jordan
is also progressing positively. With EBIT of EUR 2.8 million
(previous year: EUR 1.2 million), the segment significantly improved
its contribution to Group profits.

Outlook

Following the dramatic collapse since the end of last year, Chairman
of the Management Board Professor Thomas Bauer now believes the
economic crisis has bottomed out: "Overall, we are cautiously
optimistic that the ongoing trend is beginning to stabilize, although
at a much lower level." He asserts that effective measures such as
the cut-backs in temporary staff, the introduction of short-time
working in almost all the company's plants and - not least - the
improved efficiency being delivered by the new production facilities
have turned the BAUER Group's fortunes around. "Although Resources is
not yet of the necessary size to balance out the cyclic declines in
the other segments, it is bucking the trend in the growth it is
achieving. We believe we have good chances of acquiring a number of
major construction contracts for which we are currently tendering. In
the Equipment segment, I expect to see positive impetus over the
coming year from the marketing of our deep-level drilling rigs which
are currently undergoing testing."

BAUER AG is keeping to its full-year forecast, predicting total Group
revenues of just under EUR 1.3 billion (previous year: EUR 1.5
billion). According to the latest calculations, profit after tax will
fall to around one-third of the previous-year figure of EUR 107.5
million.

Our full Interim Report, including a detailed analysis of the
individual segments and markets, can be found on our website at
http://www.bauer.de.

About Bauer

Bauer is a provider of services, machinery and ancillary products in
the earth- working and groundwater fields. The Group markets its
products and services all over the world. Its global spread allows it
to remain largely unaffected by fluctuating business cycles.

The operations of the Group are divided into three segments:
Construction, Equipment and Resources. The Construction segment
carries out specialist foundation engineering work all over the
world, developing foundation and excavation projects as well as
providing related construction services. In its Equipment segment, in
which it is the world market leader, Bauer offers an extensive range
of machinery, equipment and tools for specialist foundation
engineering. The Resources segment encompasses the Group's operations
in the exploitation of raw materials, in environmental technology, in
geothermal drilling operations and also in equipment for wells
(including pumps and drills, screens and casings).

Bauer profits greatly from the collaboration between its three
separate segments, enabling the Group to position itself as an
innovative, highly specialized provider of complete solutions and
services for demanding projects on the specialist foundation
engineering and related markets.

Founded in 1790, Bauer today generates more than two thirds of its
total revenues outside of Germany. Employing some 8,600 people, the
Group's total revenues in 2008 were EUR 1.53 billion (previous year:
EUR 1.2 billion). BAUER Aktiengesellschaft has been listed on the
official market of the Frankfurt Stock Exchange since July 4, 2006
(Prime Standard, ISIN DE0005168108).

Contact
Bettina Erhart / Christopher Wolf
Investor Relations
BAUER Aktiengesellschaft
BAUER-Strasse 1
86529 Schrobenhausen, Germany
Phone: +49 8252 97 1918
Fax: +49 8252 97 2900
Mobile: +49 171 755 9210
e-mail: investor.relations@bauer.de
Internet: http://www.bauer.de

GROUP KEY FIGURES January - September 2009 (IFRS)


| |Jan-Sep 2008 |Jan-Sep 2009 |Change |
| |in EUR million |in EUR million | |
|Total Group revenues* |1,111.8 |944.5 |-15.0 % |
|of which | | | |
|- Germany |264.6 |273.9 |3.5 % |
|- International |847.2 |670.6 |-20.8 % |
|of which | | | |
|- Construction |520.1 |418.2 |-19.6 % |
|- Equipment |569.5 |472.2 |-17.1 % |
|- Resources |87.2 |117.3 |34.6 % |
|- Other/Elim./Consol. |-65.0 |-63.2 |n/a |
|Consolidated revenues |1,073.6 |896.3 |-16.5 % |
|Sales revenues |930.2 |782.2 |-15.9 % |
|Orders received |1,251.4 |815.9 |-34.8 % |
|Orders in hand |757.7 |543.0 |-28.3 % |
|EBITDA |149.3 |110.0 |-26.3 % |
|EBITDA margin |16.0 % |14.1 % |n/a |
|(as % of sales revenues) | | | |
|EBIT |108.4 |60.0 |-44.6 % |
|EBIT margin |11.7 % |7.7 % |n/a |
|(as % of sales revenues) | | | |
|Net profit or loss** |67.8 |30.0 |-55.8 % |
|Shareholders' equity |330.6 |383.1 |15.9 % |
|Equity ratio in % |31.7 % |30.5 % |n/a |
|Earnings per share in EUR*** |3.81 |1.68 |-55.9 % |
|Employees |8,103 |8,685 |7.2 % |


* At variance with the consolidated revenues presented in the
Group income statement, the total Group revenues presented here
include portions of revenues from associated companies as well as
revenues of non-consolidated subsidiaries and joint ventures.

** Before minority interests

*** Diluted and basic


end of announcement euro adhoc
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ots Originaltext: BAUER Aktiengesellschaft
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Bettina Erhart / Christopher Wolf

Investor Relations

Telefon: +49(0)8252 97 1918

E-Mail: investor.relations@bauer.de

Branche: Construction & Property
ISIN: DE0005168108
WKN: 516810
Index: MDAX, CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade


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