Unsupported browser

For a better experience, please update your browser to its latest version.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Bauer reports first quarter profit jump despite revenue fall

Fewer large construction contracts and a bumper year in 2017 have been cited as the main causes behind Bauer’s fall in revenues for the first quarter of this year compared to the same period last year.

Nonetheless, the company has reported improvements in profitability with EBIT up 30.6% to €11.1M (£9.8M) from revenues of €370.8M (£326.9M), which was down 17.3% compared to the first quarter in 2017.

Despite the improvements in profits, the negative effects of currency has resulted in a €3.9M (£3.4M) loss for earnings after tax.

In a statement, Bauer said that in its construction segment “there were slightly fewer large projects” and revenues were 28.5% below last year’s levels at €150.9M (£133M). Bauer has countered the drop by saying that the figure reported for the first three months of 2017 was “unusually high”.

Bauer has said that it remains confident of achieving its full year forecast, announced last month, of revenues of €1.8bn (£1.58bn) and EBIT of €90M (£79.3M).

Bauer chairman of the management board Thomas Bauer, who recently announced he was to step down from the role, said: “We are working on implementing further improvement measures and further increasing our earnings figures on that basis.”


Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.