DGAP-News: BAUER Aktiengesellschaft: BAUER AG achieves healthy growth and increases orders in hand in 2012

DGAP-News: BAUER Aktiengesellschaft / Key word(s): Final
Results/Dividend
BAUER Aktiengesellschaft: BAUER AG achieves healthy growth and
increases orders in hand in 2012

11.04.2013 / 07:00

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- Total Group revenues up 5.4 percent to EUR 1,445.6 million.
- Net profit for the period of EUR 25.3 million (previous year: EUR 34.1
million) in line with forecast.
- Orders in hand up 4.7 percent to EUR 785.0 million (previous year: EUR
750.0 million).
- Forecast for 2013: Total Group revenues expected to rise above EUR 1.5
billion, with after-tax profit of above EUR 30 million and EBIT of
around EUR 85 million.
- Proposed dividend: EUR 0.30 per share (previous year: EUR 0.50 per
share).

Schrobenhausen/Munich - The international construction and machinery
manufacturing company sees itself as strategically well positioned to cope
with volatile markets and an uncertain business climate. This was
underlined by Chairman of the Management Board of BAUER Aktiengesellschaft
Professor Thomas Bauer on the occasion of today's annual press conference.
'The fact that our Group has a presence all over the world and offers a
broad range of products and services relating to ground and groundwater has
proved advantageous to us,' he comments. 'We have met our forecast targets,
and we have to be pleased with the results achieved.' Business in the
course of the year was hampered by problems on some large projects, and
above all by a reluctance to invest on the part of machinery customers.

Total Group revenues rose by 5.4 percent from EUR 1,371.8 million to EUR
1,445.6 million. Net profit of EUR 25.3 million was in line with forecasts
but down against the previous year (EUR 34.1 million). EBIT (earnings
before interest and taxes) decreased from EUR 82.3 million to EUR 71.4
million.

The Management Board and Supervisory Board propose that a reduced dividend
of EUR 0.30 per share be paid (previous year: EUR 0.50). This corresponds
to a dividend payout ratio of approximately 21 percent referred to earnings
after deducting minority interests.

Business segments

With its three segments - Construction, Equipment and Resources - and its
broadly diversified business model, the Group operates in some 70 countries
around the world.

The Construction segment improved its performance significantly after a
decline in 2011. It handled a number of large projects, enabling it to
increase total Group revenues by 8.3 percent to EUR 656.8 million (previous
year: EUR 606.6 million). Segment EBIT increased by 21.9 percent to EUR
21.8 million (previous year: EUR 17.9 million). The sale of a real estate
development project made a positive contribution to earnings.

The segment's orders in hand at the 2012 year-end reached a record level of
EUR 513.1 million. Among the prestige projects on its books, Bauer has been
contracted to carry out the foundation works for two buildings which will
become respectively the tallest in Europe and in the world: the Lakhta
Tower in St. Petersburg and the Kingdom Tower in Jeddah, Saudi Arabia. Work
on another major project, the remediation of the Center Hill Dam in the
USA, has already started.

The Equipment segment saw its revenues and earnings fall in the past
financial year. Total Group revenues decreased by 6.3 percent against the
previous year to EUR 596.1 million (previous year: EUR 636.5 million). In
view of machinery customers' general reluctance to invest, and with the
plants operating at lower capacity, higher fixed costs relative to the fall
in revenues impacted negatively on earnings. Segment EBIT decreased by 36.4
percent from EUR 53.0 million to EUR 33.7 million.

In its machinery business, Bauer profits primarily from its strength in
large, custom-built, highly specialized rigs. As a large number of units
were delivered in December 2012, orders in hand at the year-end of EUR
113.1 million were relatively low, and 2.7 percent down against the
previous year. The company expects to see slight growth in 2013 thanks to
new developments such as its specialist foundation engineering cranes and
deep drilling rigs for oil, gas and geothermal energy extraction. In late
2012, six RB-T 90 rigs were sold to China for drilling of mine rescue
shafts. The rigs will be manufactured and delivered in 2013.

Ongoing trends in the Resources segment remain positive. Its total Group
revenues increased by 24.8 percent from EUR 211.5 million to EUR 263.9
million. Segment EBIT rose by 39.2 percent to EUR 15.2 million. The major
influence on performance came from large-scale projects: While
well-drilling projects in Jordan returned significant losses as a result of
wide-ranging problems, very healthy earnings were generated in Oman and
from mining activities. Orders in hand of
EUR 158.8 million (previous year: EUR 168.4 million) were again at a high
level.

Orders in hand and outlook

Total Group orders in hand at the end of the financial year amounted to EUR
785.0 million. This figure is 4.7 percent above the previous year's level,
and provides a good basis for the planned growth over the years ahead.

Professor Thomas Bauer comments: 'We are geared up to cope with ongoing
uncertainty and major change on international markets. If we are able to
overcome any difficulties with diligence and skill, the opportunities which
arise will provide much positive momentum for our business.' The company
sees potential for growth in the substantial backlogged demand for
infrastructure renewal as well as in both new construction and renovation
work in many countries around the world.

The BAUER Group predicts that it will achieve annual growth of between five
and 10 percent over the next two financial years. Based on current figures,
the company forecasts total Group revenues for 2013 of more than EUR 1.5
billion. Owing to the still persisting risks arising from volatile markets
and in relation to some large projects, the company does not expect to
deliver a substantial improvement in earnings. Consequently, it forecasts
profit after tax of above EUR 30 million and EBIT of around EUR 85 million.
It is likely that the trend through the year will follow the customary
industry-specific pattern, with a loss in the first quarter balanced out by
gains in the subsequent quarters.

Our full Annual 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
ground 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.

Its business is divided into three segments: Construction, Equipment and
Resources. The Construction segment carries out specialist foundation
engineering work for complex excavation pits and foundations on major
infrastructure and building projects all over the world, installing cut-off
walls and carrying out ground improvement works as well as providing
related project development services. Bauer's Equipment segment, a world
market leader, offers a comprehensive range of construction machinery,
equipment and tools for the specialist foundation engineering sector as
well as for other underground drilling operations, such as for mines, water
wells, geothermal energy sources, and oil and gas extraction. The Resources
segment bundles the Group's activities in the fields of water, energy,
mineral resources and environmental technology.

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 around three quarters of its total
revenues outside of Germany. Employing some 10,300 people, the Group's
total revenues in 2012 were approximately EUR 1.45 billion (previous year:
EUR 1.37 billion). BAUER Aktiengesellschaft has been listed on the official
market of the Frankfurt Stock Exchange since July 4, 2006 (Prime Standard,
ISIN DE0005168108).

You can also visit us on YouTube: http://www.youtube.com/BAUERGruppe

GROUP KEY FIGURES 2012 (IFRS)

2011 2012 Change
in EUR in EUR
million million
Total Group revenues 1,371.8 1,445.6 +5.4 %
of which
- Germany 370.3 385.3 +4.1 %
- International 1,001.5 1,060.3 +5.9 %
of which
- Construction* 606.6 656.8 +8.3 %
- Equipment* 636.5 596.1 -6.3 %
- Resources 211.5 263.9 +24.8 %
- Other/Consolidation -82.8 -71.2 n/a
Consolidated revenues 1,327.1 1,385.9 +4.4 %
Sales revenues 1,219.6 1,344.4 +10.2 %
Orders received 1,506.9 1,480.6 -1.7 %
Orders in hand 750.0 785.0 +4.7 %
EBITDA 164.5 163.2 -0.8 %
EBITDA margin (as % of sales revenues) 13.5 % 12.1 % n/a
EBIT (earnings before interest and 82.3 71.4 -13.2 %
taxes)
EBIT margin (as % of sales revenues) 6.7 % 5.3 % n/a
Net profit or loss 34.1 25.3 -25.7 %
Shareholders' equity 470.4 483.1 +2.7 %
Equity ratio 31.6 % 31.8 % n/a
Earnings per share in EUR 1.86 1.42 -23.7 %
Employees (on average over the year) 9,646 10,253 +6.3 %

* Previous year figures adjusted

End of Corporate News

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11.04.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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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: investor.relations@bauer.de
Internet: www.bauer.de
ISIN: DE0005168108
WKN: 516810
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart

End of News DGAP News-Service
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