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Bilfinger Slips To Loss In Q2; Backs FY Outlook

Bilfinger (BFLBY.PK) reported that its second-quarter net loss was 6 million euros, compared to net profit of 11 million euros in the prior year.

Adjusted earnings per share decreased to 0.15 euros from 0.18 euros in the previous year.

But, adjusted EBITA improved by 47% to 17 million euros from the prior year.

Tom Blades, the chief Executive Officer of the company, said, "We will continue our productivity efforts to deliver our targeted ratio of 7.5% by 2020. However, we have at the same time to intensify our efforts on gross margin development by further improving our project execution and focusing on growth initiatives in higher margin services and markets."

Revenue for the second-quarter grew by 8% to 1.147 billion euros from 1.058 billion euros in the prior year. Organic revenue growth was 11%.

Bilfinger has retained its outlook for 2019, the Group anticipates organic revenue growth in the mid-single digit percentage range , compared to 4.153 million euros reported in 2018.

For 2019, the company expects a significant increase in adjusted EBITA to more than 100 million euros, compared to 65 million euros in 2018.

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