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Bilfinger Posts Q4 Profit; Sees Higher Earnings, Stable Organic Revenue In FY20

German engineering group Bilfinger SE (BFLBY.PK) reported Thursday that its fourth-quarter net profit was 15 million euros, compared to last year's loss of 11 million euros.

Adjusted net profit was 32 million euros, compared to 23 million euros a year ago. Adjusted earnings per share were 0.80 euro, compared to 0.58 euro last year.

Adjusted EBITDA grew 62 percent to 85 million euros from 52 million euros a year ago.

Revenue declined 4 percent to 1.07 billion euros from 1.12 billion euros last year. Organically, revenue dropped 2 percent.

Orders received dropped 5 percent on a reported basis and 4 percent organically to 1.06 billion euros.

Further, the Board will again propose a dividend of 1.00 euro per share at the Annual General Meeting on April 23.

Looking ahead for fiscal 2020, Bilfinger expects organic revenue levels to be stable with an increased selectivity on higher-margin orders in 2019 and the shift of major project awards to 2020.

Bilfinger forecasts an increase in adjusted EBITA from last year's 104 million euros, to a margin of around 4 percent, up from 2.4 percent last year. The substantial rise in planned adjusted Group EBITA is attributed to the substantial improvement in Technologies.

CEO Tom Blades said, ":...we will do 'Whatever it takes' to reach our committed 5 percent EBITA by 2021 and beyond."

Regarding its Strategy 2020+, the company noted that over the coming years to 2024, Bilfinger's activities will continue to focus on the regions of Europe, North America and the Middle East, where the company will "strengthen its strengths".

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