Bauer AG records ‘positive’ earnings for start of 2022

By Catrin Jones12 May 2022

Foundations drilling specialist the Bauer Group have recorded a “positive” start to 2022 with revenues having increased by 17.2% year-on-year from €356.6 million, to €417.9 million.

(Photo: AdobeStock)

At €4.1 million, EBIT was significantly higher than the figure of €1.8 million, for the same period in the previous year. At €1.6 million, the group’s earnings after taxes were well above the previous figure of €-5.1 million and were positive again in the first quarter for the first time in many years.

Bauer says that this was due to the better operating result and the development of market interest rates for interest rate hedging transactions, which was more favourable for the company.

In the construction segment, the first few weeks of the year were somewhat more restrained, especially in international business, but were in line with expectations. The Resources segment started the current year as planned says the company.

At €183.8 million, the total group output in the construction segment was 8.3% above the previous year’s figure of €169.7 million. The increase is based on the significantly higher order backlog compared to the previous year. 

“This positive business development is mainly due to the machinery segment. A positive trend was already apparent there in the fourth quarter of last year, which continued at the beginning of 2022,” said Michael Stomberg, CEO of Bauer AG.

The company continues to expect a significant increase in total group revenues for the 2022 financial year.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Construction Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Longer Reads
ConTech: Not a silver bullet, but a long-term partner
Matt Desmond of technology giant Hexagon’s Heavy Construction division, talks to Construction Europe about the benefits to contractors of adopting digital technology
Interview: Sunward’s global access goals
OEM’s general manager explains the reasons behind its shift into access equipment manufacturing 
How construction firms can unlock the value of AI
Rob Smith, CTO of cloud services provider Creative ITC, explains how as-a-Service IT models are enabling IT leaders to unlock greater return on investment
CONNECT WITH THE TEAM
Andy Brown Editor, International Construction Tel: +44 (0) 1892 786 224 E-mail: andy.brown@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA