Strong construction markets globally have helped to boost Bauer’s revenues in the first quarter of 2015, according to a statement from the company.
Revenues for the period are up 8.2% on the first quarter in 2014 to €409M (£293M) due to growth in its construction and machinery divisions.
“We had a good start in the business year and remain on track,” said Bauer chairman of the management board Thomas Bauer.
Bauer has said that it has seen growth in all regions around the world with the bulk of the work falling into the small and medium sized project categories. The positive start to the year bucks the usual seasonal downward trend that is common across the construction sector. The company has reported a 17.8% rise in the value of construction orders in hand to €513M (£367M), compared to Q1 in 2014.
Bauer’s outlook for the construction division for 2015 is more positive than last year. “The company now expects that the problematic projects in the past will no longer negatively impact its result,” said the company’s statement.
Growth in Bauer’s equipment division was driven by demand for more standard equipment rather than larger more complex machines. This change is expected to positively impact the results for Q2 due to the lead times on delivery.
Following announcement of the Q1 results, Bauer has confirmed its full year forecast of revenues in the region of €1.6bn (£1.15bn) and to record a profit after tax of €18M to €23M (£13M to £16.6M). Bauer recorded €1.56bn (£1.13bn) of sales net profit of €15.7M (£11.4M) in 2014.