BAUER AG adjusts its forecast for the end of the year

Schrobenhausen – BAUER Aktiengesellschaft (ISIN DE0005168108) has to adjust its forecast for the financial year 2019 due to lowered expectations compared with the corporate planning.

Poor capacity utilization, mainly due to project postponements, will lead to significantly worse earnings in some countries of our international construction business in the second half of the year compared to the previous planning. In addition, the development of interest rates for pension provisions and interest rate hedges has led to considerable balance sheet burdens.

Up to now, total Group revenues of about EUR 1.7 billion, EBIT of about EUR 95 million and earnings after tax significantly higher than in the previous year had been anticipated for the financial year 2019. From today's perspective, the company expects to achieve EBIT of about EUR 70 million. The earnings after tax will only be slightly positive. The forecast for total Group revenues of about EUR 1.7 billion remains unchanged.

From today’s perspective, the reasons for the deterioration in earnings have no significant impact on future development.

The method of calculating the total Group revenues can be found in the appendix of the 2018 Annual Report on page 115.