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After the departure of Roland Koch Bilfinger has a weaker semiannual financial statement present
12/08/2014, 6:00
By Daniel Bernock
Mannheim. The old chief, Roland Koch, is gone. The new (interim) boss, Herbert Bodner, although is there. At the phone press conference for announcement of half-year results, however, he did not even attend his first day as CEO. So Joachim Müller had, since 2008, Chief Financial Officer, yesterday take on this task alone. And it has been shown: The profit warnings, the Koch ultimately forced to resign, have left their mark on the balance sheet.
In the second half of Müller expects a “difficult environment”. The “under-utilization” would also be felt in the second half. To create particular makes the Group the reluctance of customers in the energy, as already announced in the past two profit warnings. The power plant sector suffers from a lack of competitiveness of conventional power plants and the political focus on wind and solar projects. Therefore, the orders dried up. Earnings before interest, taxes, depreciation and amortization fell by 60 percent in the first half of the year. Despite the difficult situation Müller sees long term “good prospects” in the power plant sector. In the first half, the margin has, however, only once from 7.4 to 3.5 percent more than halved.
the previously announced workforce reduction of 300 employees in the pipeline – which is used mainly in power plants – come again, in Müller restructuring costs of 30 million euros on the Group to. In addition to more “cost reduction programs” are initiated. The ongoing austerity measures, which provide, inter alia, a reduction of 1,250 jobs by the end of 2015, to be accelerated.
For the full year Bilfinger expects sales slightly above last year’s level of 7.8 billion euros. The profit is expected to reach a value of 205-220 million euros. Last year was the bottom line is still an increase of 255 million euros.
On the subject of cooking – such as who could now come as the successor question – would not comment CFO Müller. In last week had already been sufficiently discussed. No later than the promulgation of the balance sheet for the third quarter, however, the current CEO Bodner would answer questions from the journalists.
The stock market took its half-year figures, however, positive on – partly the share exceeded five percent in Plus. Some of the figures were better than expected, said the stockbrokers
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