Quarterly Statement Q3 2021 [pdf, 2.1 MB]

Bilfinger SE

3rd Quarter 2021 Results

November 11, 2021

Q3 2021

On track to reach full-year targets 2021

Markets

+31% org.

Orders received

+12% org.

Revenue

€51 million

EBITA adjusted

€73 million

Free cash flow reported

Outlook 2021

Slightly raised

• Overall positive environment, some headwinds due to inflation challenges and supply chain bottlenecks on customer side
• Strong increase in all segments compared to weak prior-year quarter
• Book-to-billYTD 1.07
• Solid development
• Year-on-yeargrowth in all segments
• Technologies and E&M Europe improving and delivering in accordance with expectations, progress in E&M International slower than anticipated
• Gains from real estate disposals add on operational performance
• Good cash performance based on improved Net Trade Assets against Q2
• Supports full-year expectation of positive free cash flow
• Revenue: Significant growth
• EBITA margin to exceed 2019 pre-crisis level and to slightly surpass 3 percent

Bilfinger SE | Quarterly Statement Q3 2021 | November 11, 2021

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Markets: E&M Europe

	Industries	%*	Overall
	trend
			• Maintenance market continues to recover and stabilize
	Chemicals &	40%	• Larger investments going forward but not on original programs/ scale due to
	Petrochem	supply-chain bottlenecks and cost inflation concerns
			• Deferred work/shutdowns raise activity levels in 2021/22
			• ESG climate change drivers still hold, e.g. CO2 limits, emissions,
	Energy &	10%	decentralized power generation
	Utilities	• Green energy investment projects emerging as anticipated
			(e.g. renewables, hydrogen, carbon capture etc.)
			• OpEx stabilized and recovery underway from a low base following relief
	Oil & Gas	20%	from COVID-19 restrictions
	• Recovery supported by asset integrity/shutdowns related backlog plus older
			asset life extensions
* % of segment revenues FY 2020
Bilfinger SE | Quarterly Statement Q3 2021 | November 11, 2021		page 3

Markets: E&M International

	Industries	%*	Overall
	trend
	Chemicals &		• Trend for expansion and modernization projects in Middle East (ME) intact
	20%	• Attractive project pipeline in North America (NA) (e.g. petrochemical
	Petrochem
		companies and refineries put larger emphasis on maintenance projects)
			• Continued growth in ME population and industry drives further development
	Energy &	10%	of alternative and nuclear energy concepts as well as water solutions
	Utilities	• In NA, more positive outlook for energy investment emerging on energy
			storage, wind, solar and CO2 reduction
			• Large oil & gas and LNG investment plans in several ME countries
	Oil & Gas	25%	(e.g. UAE, Qatar, Kuwait) for the upcoming years
			• Consumption expected to top production capacity over coming years
* % of segment revenues FY 2020
Bilfinger SE | Quarterly Statement Q3 2021 | November 11, 2021		page 4

Markets: Technologies

	Industries	%*		Overall
		trend
	Energy &	40%	• Energy transition focus in all our regions, esp. Europe and NA
	• Nuclear demand for new builds and maintenance increasing, esp. in France,
	Utilities
		UK, Finland and demand increasing for decommissioning in Germany
			• Mega trends remain unchanged, increased vaccine type CapEx projects
			due to COVID-19
	Pharma &	35%	• Positive outlook on Pharma OpEx; Trend to outsource services and
	Biopharma	production is increasing
			• Strong growth continuous process facilities and single use technology.
			Regionalization of production capabilities

* % of segment revenues FY 2020

Bilfinger SE | Quarterly Statement Q3 2021 | November 11, 2021

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