BAUER AG: Preliminary earnings figures for the 2020 financial year significantly higher than the forecast and market expectations

Schrobenhausen, Germany – According to the preliminary business figures available as of today, BAUER AG (ISIN: DE0005168108) concluded the 2020 year with better earnings figures than anticipated, and the EBIT in particular significantly outperformed the last issued forecast as well as the market expectations. Total Group revenues were somewhat lower than the latest published expectations. In the financial year gone by, the BAUER Group was significantly affected by the consequences of the coronavirus pandemic primarily in the Construction and Equipment segments. Nevertheless, performance was better than anticipated during the last weeks in particular, especially in the Equipment segment.

The last forecast issued by the Group for the 2020 financial year expected total Group revenues of around EUR 1.5 billion, EBIT approximately the same as the previous year (2019: EUR 22.5 million) and negative earnings after tax that were nevertheless anticipated to be significantly better than the previous year and better than EUR -20 million.

Based on the preliminary calculations currently available, which have yet to be audited, the BAUER Group achieved Total Group revenues for the 2020 financial year of about EUR 1.4 billion, EBIT of about EUR 56 million and earnings after tax of about EUR -8 million.

It should be noted that the calculation of EBIT was adjusted based on a recommendation from the German Financial Reporting Enforcement Panel (Deutsche Prüfstelle fur Rechnungslegung, DPR e.V.) and also includes the share of the profit or loss of associated companies accounted for using the equity method, since the 2020 annual financial statements. Without this adjustment, EBIT would be about EUR 46 million and thus also significantly higher than the last issued forecast and the market expectations.

The Group’s order backlog performed very well, at approximately EUR 1,160 million at the end of 2020 (previous year: EUR 1,027.6 million). Net debt also continued to improve significantly.

The complete and audited business figures for 2020 as well as the forecast for the 2021 financial year will be published on April 13, 2021.