BAUER AG issues new forecast for the 2020 financial year

Schrobenhausen, Germany – The Management Board of BAUER Aktiengesellschaft (ISIN DE0005168108) today approved a new forecast for the 2020 financial year today based on updated projections. This forecast takes into account the preliminary business figures available for the first nine months of 2020 as well as the financial impacts caused by termination of the joint venture with Schlumberger and the sale of Esau & Hueber GmbH.

According to the preliminary figures, total Group revenues as of September 30, 2020 amounted to EUR 1.1 billion (previous year: EUR 1.24 billion), EBIT was EUR 21.6 million (previous year: EUR 48.5 million) and earnings after tax were EUR -13.2 million (previous year: EUR -0.4 million).

At the end of 2019, the Group reported total Group revenues of EUR 1.59 billion, EBIT of EUR 22.5 million and earnings after tax of EUR -36.6 million.

For the 2020 financial year, the Management Board of BAUER AG now expects total Group revenues of around EUR 1.5 billion, EBIT approximately the same as the previous year and negative earnings after tax that are anticipated to be significantly better than the previous year and better than EUR -20 million.

Due to rapid spread of the coronavirus pandemic and the associated high degree of uncertainty concerning further impacts on the course of business of BAUER Group, the Management Board of BAUER AG withdrew the forecast issued with the 2019 Annual Report on July 17, 2020.

The new forecast was prepared assuming that countries will not implement stricter measures to curb the pandemic and thereby negatively impact our construction business or equipment sales.

The complete quarterly statement 9M/Q3 2020 will be published on November 13, 2020.

The methods for calculating the total Group revenues can be found in the notes to the 2019 Annual Report on p. 94:
https://www.bauer.de/export/shared/documents/pdf/investor_relations/annual_report/annual_report_2019_de_i.pdf