MANNHEIM (dpa-AFX) - Industrial services provider Bilfinger is aiming for further growth in the current year. "The growing complexity of production, the increase in bureaucracy, digitalization and the shortage of skilled workers are increasingly prompting companies to outsource the planning, construction and maintenance of their plants to industrial services providers," the SDax group said on Wednesday. The company had already presented key figures for 2023 at the end of January. The share price rose by 4.4 percent in early trading.

According to the information, Bilfinger intends to increase its revenue to between EUR 4.5 billion and EUR 4.8 billion in 2024. The median analyst estimate is within this range. Of the revenue, 4.9 to 5.2 percent is expected to remain as operating profit (Ebita margin), which would be more than in the previous year. The Group is thus aiming for higher profitability than experts had previously expected.

A savings program that has already been completed should also contribute to the margin increase. The forecast does not include the recently announced acquisition of parts of the industrial services provider Storck, which is expected to be completed by mid-2024.

Bilfinger intends to become more efficient in the coming years with a streamlined administration and standardized work processes. From this year onwards, around 55 million euros are to be saved annually, and jobs have already been cut. At a capital market day on June 12, the company intends to provide more in-depth insights into business development and the implementation of the strategy.

In 2023, revenue increased by four percent year-on-year to just under 4.5 billion euros. Earnings before interest, taxes and goodwill amortization (Ebita) rose from 75 million euros to 191 million euros. As already announced, the corresponding margin is now 4.3 percent. The main contributor to the increase in earnings was the plant construction and maintenance business in Europe, as well as the business with larger plants.

The bottom line was a profit of 181 million euros - compared to 28 million euros in the previous year. In addition to real estate sales, accounting tax effects also contributed to this.

The net result adjusted for special effects, which is decisive for the dividend, amounts to 117 million euros. Shareholders should also benefit from the increase in profit: The dividend is set to climb by 38 percent to 1.80 euros./mne/tav/mis