German builder Bilfinger Berger SE (BFLBY.PK) reported first-quarter net profit of 21 million euros, down 79% from 100 million euros in the previous year. On a per share basis, earnings fell to 0.66 euros from 0.95 euros per share a year earlier.
EBITA dropped 58% to 56 million euros from 133 million euros a year ago, due to difficult market environment, the company said. The prior-year quarter had additional contributions to earnings of 18 million euros from sale of 10 percent of shares in Julius Berger Nigeria and of 47 million euros from the sale of concession companies.
Output volume declined 4 percent to 1.87 billion euros from 1.95 billion euros in the preceding year.
The company also confirmed its outlook for full-year 2013 and said adjusted EBITA and adjusted net profit will rise this year along with higher margins.
Adjusted EBITA in 2012 was 369 million euros and adjusted net profit was 222 million euros.
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