The excursion in the economy has failed – Roland Koch no longer head of the Baku group Bilfinger. His successor must take care of a number of problems to enable the Group back on track.
After the abrupt departure of Bilfinger boss Roland Koch as a result two profit warnings has presented a weak semi-annual balance sheet of the construction and services group. A difficult economic environment in the energy market and in the European oil and gas sector expressed its profits significantly. Earnings before interest, tax and amortization (EBITA) from continuing operations fell 47 percent to 80 million euros. The bottom line, the company earned 55 million euros, 19 percent less than last year.
Koch’s successor Herbert Bodner is do not need extensive training at Bilfinger. For years he has led the construction and services group, was sitting last in the Supervisory Board and to the control panel give in the near future. After Koch’s resignation Bodner accepts but once transitional line of operations. Of the Hessian Ex-Prime Minister he inherits some construction sites.
TRUST: Through two profit warnings in a short time the market’s confidence in Bilfinger is shaken. One of the biggest challenges for Bodner it will be to regain this lost trust and building credibility. Supervisory Board Chairman Bernhard Walter stressed with Bodner should again restore composure – internal and external. But it could take some time from the perspective of industry observers, until the market has settled down and credibility is restored.
GROUP TAG: The company is located in the middle of a huge rebuilding phase. At the beginning of the seven subgroup Holdings were integrated into the Bilfinger SE – partly against large internal resistances. Koch had also set itself the goal to emphasize the end of 2015 worldwide around 1250 administrations. The promoted by him centralization is to avoid duplication and create synergies. Koch’s strategic course will continue with the company Bodner.
CHANGE TO PROVIDER: Bodner had initiated Bilfinger’s transformation from a construction company out of service for maintenance around industrial facilities, power plants and real estate. This course continued cooking continued with further acquisitions and forced him last. With the announced repelling essential parts of civil engineering he sat recently again a clear indication in which direction it goes. A buyer for the segment is not fixed yet. It is claimed by the company but many prospective customers, and run the talks.
ENERGY TURNAROUND: it proposes fully by Bilfinger. Construction of new power plants are scarce, there are major provider by maintenance on the brakes. Because electricity from solar and wind systems pushes wholesale prices in Germany, many conventional systems can no longer be profitably operate. In addition, current flows more often from neighboring countries. Meanwhile wiggle there major projects. Thus the construction of a large power plant was recently blown in Poland. Bilfinger was hardly prepared for the emergency braking. In the boom years, the group had expanded the lucrative business. Now the division is a problem child of Mannheim.
INTERNATIONALIZATION: Bilfinger here comes slow. Still, the focus of the group in Europe. Clear focus is Germany. This makes the company highly dependent on the German economy development and the choices of the federal policy. In Asia and in North America Bilfinger has been often exist only in certain areas. With acquisitions, the Group could gain clout. Appears particularly lucrative North America, where cheap shale gas for a boom ensures. So far, Bilfinger is there too small to benefit from a large scale.
‘+’ ‘+’
No comments:
Post a Comment