Reporting Factsheet Q4 2021 and FY 2021 | |||||||||
Published on February 10, 2022 | |||||||||
Bilfinger Group | FY | Q4 | |||||||
€ million | 2021 | 2020 | Δ in % | 2021 | 2020 | Δ in % | |||
Orders received | 4,008 | 3,724 | 8% | 1,028 | 1,024 | 0% | |||
Order backlog | 2,946 | 2,585 | 14% | 2,946 | 2,585 | 14% | |||
Revenue | 3,737 | 3,461 | 8% | 983 | 882 | 11% | |||
EBITDA adjusted 1) | 235 | 125 | 88% | 75 | 68 | 11% | |||
EBITA adjusted 1) | 137 | 20 | 592% | 50 | 42 | 18% | |||
EBITA margin adjusted 1) | 3.7% | 0.6% | 5.1% | 4.8% | |||||
EBITA | 121 | -57 | 37 | 14 | 162% | ||||
Amortization | 0 | -9 | 0 | 0 | |||||
EBIT | 121 | -66 | 37 | 14 | 163% | ||||
Financial result | -6 | 181 | 7 | 203 | -97% | ||||
EBT | 115 | 116 | 0% | 44 | 217 | -80% | |||
Income taxes | 8 | -8 | 19 | -7 | |||||
Earnings after taxes from continuing operations | 123 | 108 | 14% | 63 | 209 | -70% | |||
Earnings after taxes from discontinued operations | 7 | -7 | 3 | -5 | |||||
Minority interest | -1 | -2 | 50% | 0 | -1 | ||||
Net profit | 130 | 99 | 30% | 66 | 203 | -68% | |||
Net Profit adjusted 1) | 89 | -8 | 41 | 24 | 68% | ||||
EPS adjusted (in €) 1) | 2.19 | -0.20 | 1.01 | 0.60 | 68% | ||||
Equity ratio | 40.9% | 36.8% | 40.9% | 36.8% | |||||
Working capital 2) | -47 | -142 | 67% | -47 | -142 | 67% | |||
Net cash (net debt) 3) | 568 | 138 | 312% | 568 | 138 | 312% | |||
Cash flow from operating activities | 113 | 120 | -7% | 115 | 23 | 397% | |||
Adjusted cash flow from operating activities | 165 | 164 | 1% | 125 | 43 | 192% | |||
Investments | 63 | 37 | 71% | 23 | 15 | 53% | |||
thereof in P, P, E | 61 | 37 | 68% | 22 | 15 | 47% | |||
thereof in financial assets | 2 | 0 | 1 | 0 | |||||
Increase in right-of-use assets | 36 | 37 | -3% | 7 | 8 | -10% | |||
Free cash flow | 115 | 93 | 23% | 113 | 15 | 668% | |||
Adjusted free cash flow | 167 | 137 | 22% | 122 | 34 | 259% | |||
Employees | 29,756 | 28,893 | 3% | 29,756 | 28,893 | 3% | |||
1) Categories of adjustments see table "Special items in EBITA" | |||||||||
2) Delta between current assets, excluding cash and cash equivalents and securities and current liabilities, excluding liabilities to banks. | |||||||||
3) Excluding leasing liabilities (FY 2020: €193m, FY 2021: €185m) and including marketable securities | |||||||||
Reconciliation adjusted earnings | FY | Q4 | |||||||
€ million | 2021 | 2020 | Δ in % | 2021 | 2020 | Δ in % | |||
EBITA | 121 | -57 | 37 | 14 | 163% | ||||
Special items | 16 | 77 | -80% | 13 | 28 | -53% | |||
EBITA adjusted | 137 | 20 | 592% | 50 | 42 | 19% | |||
Adjusted financial result | -14 | -29 | 50% | 7 | -7 | ||||
Adjusted income tax expense | -33 | 2 | -15 | -9 | -67% | ||||
Minority interest | -1 | -2 | 50% | 0 | -1 | ||||
Net Profit adjusted | 89 | -8 | 41 | 24 | 68% | ||||
EPS adjusted (in €) | 2.19 | -0.20 | 1.01 | 0.60 | 68% | ||||
Special items in EBITA | FY | Q4 | |||||||
2021 | 2020 | Δ in % | 2021 | 2020 | Δ in % | ||||
Disposal losses/write-downs, selling-related expenses | -9 | 4 | 0 | -1 | |||||
Restructuring and SG&A efficiency | 18 | 77 | -77% | 12 | 25 | -52% | |||
Compliance | 0 | -17 | 0 | 0 | |||||
IT Investments | 6 | 13 | -54% | 1 | 4 | -75% | |||
Total | 16 | 77 | -80% | 13 | 28 | -53% | |||
Outlook 2022 | FY 2022e | FY 2021 | |||||||
€ million | |||||||||
Group | |||||||||
Revenue | Significant growth | 3,737 | |||||||
EBITA reported / margin (in %) | Significant operational improvement | 121/ 3.2 | |||||||
Free cash flow reported | On good level of FY 2021 | 115 | |||||||
Segment Engineering & Maintenance Europe | |||||||||
Revenue | Slight growth | 2,518 | |||||||
EBITA reported / margin (in %) | Significant margin improvement in the absence of restructuring expenses, with a stable operating performance | 116/ 4.6 | |||||||
Segment Engineering & Maintenance International | |||||||||
Revenue | Significant growth | 553 | |||||||
EBITA reported / margin (in %) | Significant improvement to at least break-even | -18/ -3.3 | |||||||
Segment Technologies | |||||||||
Revenue | Significant growth | 560 | |||||||
EBITA reported / margin (in %) | Further significant improvement | 19/ 3.4 | |||||||
Reconciliation Group | |||||||||
EBITA reported | Significantly below prior year, without special effects (gains from disposals including real-estate in 2021) generally stable level | 4 | |||||||
Bilfinger Segments | FY | Q4 | |||||||
€ million | 2021 | 2020 | Δ in % | 2021 | 2020 | Δ in % | |||
Orders received | |||||||||
Segment Engineering & Maintenance Europe | 2,552 | 2,449 | 4% | 641 | 698 | -8% | |||
Segment Engineering & Maintenance International | 634 | 441 | 44% | 158 | 69 | 127% | |||
Segment Technologies | 597 | 719 | -17% | 143 | 228 | -37% | |||
Reconciliation Group | 225 | 116 | 94% | 86 | 28 | 203% | |||
thereof OOP | 253 | 233 | 9% | 106 | 47 | 125% | |||
thereof HQ/ consolidation/ others | -28 | -117 | 76% | -21 | -19 | -8% | |||
Group | 4,008 | 3,724 | 8% | 1,028 | 1,024 | 0% | |||
Order backlog | |||||||||
Segment Engineering & Maintenance Europe | 1,769 | 1,707 | 4% | 1,769 | 1,707 | 4% | |||
Segment Engineering & Maintenance International | 490 | 324 | 51% | 490 | 324 | 51% | |||
Segment Technologies | 617 | 560 | 10% | 617 | 560 | 10% | |||
Reconciliation Group | 71 | -5 | 71 | -5 | |||||
thereof OOP | 129 | 79 | 65% | 129 | 79 | 65% | |||
thereof HQ/ consolidation/ others | -59 | -84 | 30% | -59 | -84 | 30% | |||
Group | 2,946 | 2,585 | 14% | 2,946 | 2,585 | 14% | |||
Revenue | |||||||||
Segment Engineering & Maintenance Europe | 2,518 | 2,221 | 13% | 657 | 586 | 12% | |||
Segment Engineering & Maintenance International | 553 | 521 | 6% | 159 | 118 | 35% | |||
Segment Technologies | 560 | 498 | 12% | 143 | 140 | 2% | |||
Reconciliation Group | 107 | 221 | -52% | 23 | 39 | -42% | |||
thereof OOP | 167 | 263 | -36% | 39 | 54 | -28% | |||
thereof HQ/ consolidation/ others | -61 | -41 | -46% | -15 | -14 | -7% | |||
Group | 3,737 | 3,461 | 8% | 983 | 882 | 11% | |||
EBITA adjusted | |||||||||
Segment Engineering & Maintenance Europe | 131 | 69 | 90% | 40 | 36 | 10% | |||
EBITA margin adjusted | 5.2% | 3.1% | 6.0% | 6.2% | |||||
Segment Engineering & Maintenance International | -14 | -21 | 33% | 2 | 2 | 2% | |||
EBITA margin adjusted | -2.5% | -4.0% | 1.4% | 1.9% | |||||
Segment Technologies | 20 | -10 | 4 | 9 | -59% | ||||
EBITA margin adjusted | 3.6% | -2.1% | 2.5% | 6.3% | |||||
Reconciliation Group | 0 | -18 | 4 | -5 | |||||
thereof OOP | 2 | 6 | -64% | 2 | 2 | 13% | |||
thereof HQ/ consolidation/ others | -2 | -24 | 91% | 2 | -7 | ||||
Group | 137 | 20 | 592% | 50 | 42 | 18% | |||
EBITA margin adjusted | 3.7% | 0.6% | 5.1% | 4.8% | |||||
Organic development | |||||||||
€ million | FY 2020 | Δ Net acquisitions | Δ F/X | Δ Organic | FY 2021 | ||||
Orders received | |||||||||
Segment Engineering & Maintenance Europe | 2,449 | 6 | 0% | 29 | 1% | 68 | 3% | 2,552 | 4% |
Segment Engineering & Maintenance International | 441 | -1 | 0% | -19 | -4% | 213 | 48% | 634 | 44% |
Segment Technologies | 719 | -11 | -2% | 0 | 0% | -111 | -15% | 597 | -17% |
Group | 3,724 | -85 | -2% | 23 | 1% | 345 | 9% | 4,008 | 8% |
Revenue | |||||||||
Segment Engineering & Maintenance Europe | 2,221 | 3 | 0% | 25 | 1% | 268 | 12% | 2,518 | 13% |
Segment Engineering & Maintenance International | 521 | -1 | 0% | -17 | -3% | 50 | 10% | 553 | 6% |
Segment Technologies | 498 | -9 | -2% | 0 | 0% | 71 | 14% | 560 | 12% |
Group | 3,461 | -115 | -3% | 17 | 0% | 374 | 11% | 3,737 | 8% |
EBITA adjusted | |||||||||
Segment Engineering & Maintenance Europe | 69 | 0 | 0% | 1 | 1% | 61 | 88% | 131 | 90% |
Segment Engineering & Maintenance International | -21 | -7 | 35% | 1 | -4% | 14 | -65% | -14 | 33% |
Segment Technologies | -10 | -2 | 15% | 0 | 0% | 32 | 309% | 20 | 293% |
Group | 20 | -17 | -84% | 2 | 9% | 132 | 667% | 137 | 592% |
Q4 2020 | Δ Net acquisitions | Δ F/X | Δ Organic | Q4 2021 | |||||
Orders received | |||||||||
Segment Engineering & Maintenance Europe | 698 | 4 | 1% | 13 | 2% | -74 | -11% | 641 | -8% |
Segment Engineering & Maintenance International | 69 | 0 | 0% | 7 | 10% | 81 | 117% | 158 | 127% |
Segment Technologies | 228 | -3 | -1% | 0 | 0% | -82 | -36% | 143 | -37% |
Group | 1,024 | -9 | -1% | 27 | 3% | -13 | -1% | 1,028 | 0% |
Revenue | |||||||||
Segment Engineering & Maintenance Europe | 586 | 1 | 0% | 12 | 2% | 58 | 10% | 657 | 12% |
Segment Engineering & Maintenance International | 118 | 0 | 0% | 5 | 4% | 36 | 31% | 159 | 35% |
Segment Technologies | 140 | -3 | -2% | 0 | 0% | 6 | 4% | 143 | 2% |
Group | 882 | -13 | -1% | 19 | 2% | 95 | 11% | 983 | 11% |
EBITA adjusted | |||||||||
Segment Engineering & Maintenance Europe | 36 | -0 | -0% | 0 | 1% | 3 | 8% | 40 | 10% |
Segment Engineering & Maintenance International | 2 | -2 | -76% | -1 | -28% | 2 | 106% | 2 | 2% |
Segment Technologies | 9 | -0 | -5% | -0 | -0% | -5 | -54% | 4 | -59% |
Group | 42 | -2 | -6% | -0 | -0% | 10 | 24% | 50 | 18% |
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Bilfinger SE published this content on 10 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2022 08:29:27 UTC.