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Bilfinger FY Loss Narrows

Bilfinger (BFLBY.PK) reported that its net loss for financial year 2018 narrowed to 24 million euros from 89 million euros last year.

Adjusted net profit from continuing operations increased to 36 million euros, compared to negative 9 million euros last year.

Orders received in financial year 2018 increased by 10 percent to 4.459 billion euros, while organic growth was 12 percent. Revenue increased by 3 percent to 4.153 billion euros, organically it increased by 6 percent.

CEO Tom Blades said, "We delivered on our 2020 strategy and on our commitments to both internal and external stakeholders. I am particularly pleased with the successful conclusion of the DPA and our Monitor's Certification that Bilfinger is on an irreversible course towards compliance self-sufficiency. I think we can confidently say that 2018 was a year of achievement for Bilfinger."

The Executive Board - subject to a corresponding resolution from the Supervisory Board - will propose to the Annual General Meeting a dividend payout of 1.00 euros per share for financial year 2018. In relation to the share price at the end of 2018, this represents a dividend yield of about 4 percent.

Bilfinger is also adjusting its reporting segments as of the beginning of 2019. The forecasts and statements related to the expected development of the Group are made within the scope of these reporting structures.

Based on the current order backlog for financial year 2019, Bilfinger anticipates organic revenue growth in the mid-single digit percentage range compared to 4.153 billion euros in 2018. For EBITA adjusted (2018: €65 million), the Group expects a significant increase to more than 100 million euros. In terms of reported free cash flow, Bilfinger expects a positive figure, compared to negative 4 million euros in 2018.

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