Bilfinger Q3 profit hits $39.6 million

 

BERLIN – Bilfinger, an industrial services provider said on Monday that its third quarter net profit increased to €37 million ($39.6 million) from prior year’s €22 million.

Earnings per share were €0.98, up from prior year’s €0.56. The earnings before interest, taxes, and amortization (EBITA) margin improved to 5.1% from last year’s 3.4%, with positive contributions from all segments.

Group revenue grew 4% to €1.12 billion from €1.08 billion a year ago. Organically, revenues increased 7%.

Meanwhile, orders received fell 8% to €1.03 billion from €1.12 billion last year.

Organic decrease was 5%. Looking ahead for fiscal 2023, Bilfinger continues to expect revenue of between €4.30 billion and €4.60 billion, compared to last year’s €4.31 billion.

The group’s profitability is still expected to increase, with an EBITA margin of 3.8% to 4.1%, compared to last year’s 1.8% on a reported basis and 3.2% on an adjusted basis.